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McDonald’s Asia Brings Down April Comparable Store Sales
Here’s the regional breakdown:
U.S. up 0.7% (Est. down 0.05%)
Europe down 2.4% (Est. down 1.01%)
Asia/Pacific, Middle East and Africa (APMEA) down 2.9% (Est. down 1.44%)
“In April, APMEA’s comparable sales declined 2.9%, reflecting the impact of Avian influenza, primarily in China, and softer results in Japan and Australia,” wrote the company.
Read more: http://www.businessinsider.com/mcdonalds-april-comparable-store-sales-2013-5#ixzz2Shss0jqs
McDonald’s Sales Slip 0.6% in April
http://www.cnbc.com/id/100719384
CHART OF THE DAY: It Doesn’t Take A Genius [...]
Chinese bank calls $1.6 trillion local government debt a timebomb
Bridge to nowhere?
The Agricultural Bank of China has sounded the alarm about “impulsive” local governments over-investing in the name of urbanization.
China’s official government news agency Xinhua on Saturday reported that local government debt – estimated at 10 trillion yuan or roughly $1.6 trillion – “has long been considered a time bomb for [the] Chinese economy”.
The bank – one of the four [...]
Richard Koo is the Nomura economist who is famous for his theory of the “balance sheet recession”, the idea that busts like ours or Japan’s are the result of the private sector deleveraging and need to be counteracted with aggressive fiscal policy.
In his latest note, he does a grand tour around the world, making observations in Germany, Japan, Spain, and the US.
The observation about the state of the banking/housing system in [...]
” Jamie Dimon happens to be a long-time Democratic donor.
Dimon and his wife, Judy, have donated more than a half-million dollars to Democratic candidates and committees since 1989, according to a Center for Responsive Politics analysis of his donations. That is nearly 12 times what the couple has given the GOP.
Dimon seems to exert considerable influence within Democratic circles at a time when JPMorgan and other banks still owe the [...]
Moody’s has cut the ratings of 11 European banks and said it would cut again if Greece ditched the euro, kicking off a long-awaited round of downgrades for major European institutions.
Moody’s Investors Service said on Friday it had taken action against five Dutch banking groups, three French banks and one each from Belgium and Luxembourg.
Investors shrugged off the news after central banks from major economies had indicated they were prepared [...]
KWN
Today Egon von Greyerz told King World News that a client went to move a significant amount of “allocated” gold from a Swiss bank, but the bank shocked the customer because they did not have the gold. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said, “the risk of having gold in the banking system is major.” But first, here is [...]
Measures to overhaul Spain‘s ailing banking system are expected to be announced on Friday as the government races to shore up confidence in the economy and head off fears that it will need an international bailout to remain in the eurozone.
The emergency measures taken to partly nationalise the country’s fourth largest bank, Bankia, on Wednesday are not regarded as enough to encourage investors to start pouring their money back into [...]
Measures to overhaul Spain‘s ailing banking system are expected to be announced on Friday as the government races to shore up confidence in the economy and head off fears that it will need an international bailout to remain in the eurozone.
The emergency measures taken to partly nationalise the country’s fourth largest bank, Bankia, on Wednesday are not regarded as enough to encourage investors to start pouring their money back into [...]
One of President Obama’s largest financial backers is a key executive at the largest Swiss bank in the world, complicating his criticism of presumptive Republican nominee Mitt Romney.
Robert Wolf is president of Swiss financial giant UBS Investment Bank and chairman of UBS Americas. He has been one of Obama’s most prolific fundraisers dating back to 2006, when the former Senator from Illinois initiated his run for the White House.
Wolf has bundled more [...]
From Sovereign Man:
We recently received a great question from a reader, Chuck, who asked, “Simon, I’m going to HK in 10 days to open a bank account, and I know there are options to do this in several foreign currencies. What foreign currency would you recommend to hold over the longer term?”
I could never make a personal recommendation as I’m not a financial advisor, nor do I know the details [...]
By Brett Arends, MarketWatch
LONDON — Our local Too Big To Fail bank has a simple Christmas message for us all this year.
Bah, humbug!
If Charles Dickens’s Ebenezer Scrooge were alive today, he’d be happily working in the TBTF bank — maybe as the CEO of the HUMongous Bank of Unabashed Greed, or HUMBUG, Inc.
Bob Cratchit? That’s us. Shut up and eat your gruel (OK, OK, that’s [...]
04 Nov 2011
FRANKFURT – Germany’s second-biggest bank Commerzbank on Friday announced a larger-than-expected net loss of 687 million euros (US$949 million) in the third quarter, as it took a 798 million euro hit on its holdings of Greek government debt.
The bank, one of the German banks most heavily exposed to Greek debt, also said it was abandoning its ambitious 2012 target of an overall operating [...]
by ZH
That European wholesale, and particularly dollar, funding has been “problematic” in past weeks is an understatement. One merely needs to look at the Fed’s recent expansion in its transatlatnic swap lines to figure out that someone, somewhere is struggling to meet their USD-denominated obligations. However, is it just one bank, as recent data out of the ECB suggest, or is this merely a symptom [...]
kingworldnews.com
With tremendous volatility in the gold and silver markets, today King World News interviewed KWN Resident Expert Jim Rickards, who is Senior Managing Director at both Omnis Inc. (National Security) and Tangent Capital (Merchant Bank). One of the questions KWN receives is where is the US gold? Does the US still possess it? Well, here are some snippets from a Jim Rickards interview that directly addresses these questions.
When asked about [...]
by zh
From the interview:
These megaleaks, as you call them that, we haven’t seen any of those from the private sector.
No, not at the same scale for the military.
Will we?
Yes. We have one related to a bank coming up, that’s a megaleak. It’s not as big a scale as the Iraq material, but it’s either tens or hundreds of thousands of documents depending on how you define it.
Is [...]
UK passenger traffic in August is down from last year:
http://www.bbc.co.uk/news/uk-scotland-glasgow-west-11259250
UK austerity measures with government cuts now risking 40,000 police officer jobs:
http://www.bbc.co.uk/news/uk-11261739
UK Postal services to be privatised, with debate on massive job losses and increases in postal charges:
http://www.bbc.co.uk/news/business-11258649
Deutsche Bank tried to raise $11.4 Billion:
http://www.bbc.co.uk/news/business-11258128
There are announcements at very regular intervals, most days now about further cuts and austerity measures.
Another item added on the BBC website about cuts in UK fire fighters, [...]
Although it has NEVER been reported by the press, things are turning out like many of us tin foil conspiracy nuts figured they would turn out; the big failed banks, using money forced out of the taxpayers’ hands, are buying up all the other banks. Yes, the bankster controlled USG has moved beyond corporatism, and has evolved into [...]
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