Tuesday, March 14th, 2017
BERLIN, March 14 — Adidas set a target today for sales in North America to rise by almost half by 2020, predicting strong demand will continue for fashion sneakers after its retro Superstar was the top selling shoe in the US market in 2016….
NEW YORK, March 14 — US stocks slipped at the open today as investors fixed their sights on the outcome of a meeting where the Federal Reserve is widely expected to raise interest rates for the first time this year. The Fed meets over two days…
TOKYO, March 14 — Japan’s Toshiba Corp failed to submit audited third-quarter earnings for a second time today, gaining a one month extension as its expands a probe into problems at its US nuclear unit Westinghouse. With its financial woes…
BUENOS AIRES (March 14): Divisions of US media companies Twenty-First Century Fox Inc and Time Warner Inc won a joint contract to broadcast Argentine soccer matches for five years from next season, the Argentine Football Association said on Tuesday.
Fox Sports Latin America, a unit of Fox, and Time Warner’s Turner Broadcasting System Latin America Inc won a three-way race for television broadcast rights against the United States’ ESPN and Spanish company MediaPro.
WASHINGTON (March 14): The US Federal Reserve will hold an interest rate policy meeting as planned on Tuesday and Wednesday, the central bank said in a statement that might dispel any doubts over whether policymakers would brave a snowstorm hitting Washington on Tuesday morning.
The Fed is expected to raise rates at the meeting’s conclusion on Wednesday.
KUALA LUMPUR (March 14): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (March 15) may include the following: Bermaz Auto, Pan Malaysia, UMWOG, Transocean, Spritzer, Eka Noodles and Digistar.
Bermaz Auto Bhd’s net profit fell 38.9% to RM25.1 million in its third quarter ended Jan 31, 2017 (3QFY17) from RM41.1 million a year ago, as softer consumer demand impacted domestic sales while supply constraints and competition in the Philippines affected sales in the other country.
BERLIN (March 14): Germany’s Justice Minister on Tuesday put forward a new draft law calling for social networks like Facebook to remove slanderous or threatening online postings quickly or face fines of up to 50 million euros (US$53.15 million).
“This (draft law) sets out binding standards for the way operators of social networks deal with complaints and obliges them to delete criminal content,” Justice Minister Heiko Maas said in a statement announcing the plans.
BRUSSELS (March 14): Shareholders in listed European Union companies will have a greater say in setting executive pay under new rules adopted by EU lawmakers on Tuesday.
Investors in the more than 8,000 listed companies on EU markets will be able to issue binding votes on remuneration policies, although EU states are free to make this advisory and will have about two years to enact them in national law.
TOKYO (March 14): Toyota Motor Corp signed a memorandum of understanding (MoU) on Tuesday with a Saudi Arabian government agency to conduct a feasibility study into producing vehicles and parts in the Middle Eastern nation.
The move, if firmed up, would be a big step for the Saudi economy as the government tries to diversify beyond oil exports and create jobs as part of the kingdom’s 2030 Vision.
WASHINGTON (March 14): US producer prices increased more than expected in February, and the year-on-year gain was the largest in nearly five years, pointing to a steady rise inflation pressures.
The Labor Department said on Tuesday that its producer price index for final demand increased 0.3% last month after rising 0.6% in January. Economists polled by Reuters had forecast a 0.1% uptick.