Nike on Thursday warned that sales will drop by a double digit percentage in its current quarter as the sneaker giant contends with new tariffs, sliding consumer confidence and a slower than expected turnaround.In a conference call with analysts, finance chief Matt Friend said Nike expects its sales decline in the fiscal fourth quarter, which is set to end in May, to be at the “low end” of the “mid-teens range.” It also anticipates its gross margin will fall between 4 and 5 percentage points as it ramps up efforts to liquidate excess inventory and stale styles that are no…
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Carbon Credits MarketCarbon credits operate as permits, each representing the removal of one ton of carbon dioxide from the environment. These credits are predominantly acquired by individuals or businesses seeking to offset their carbon emissions stemming from industrial activities. Various registries such as the American Carbon Registry (ACR), Climate Action Reserve (CAR), and the UN Clean Development Mechanism (UN CDM), among others, oversee and regulate these carbon credits. Revenue generated from the sale of these credits serves as crucial financial support for emission reduction projects. This funding plays a pivotal role in incentivizing and financing additional initiatives geared towards reducing…
Image source: Vodafone Group plc I’ve long been arguing that the Vodafone (LSE:VOD) share price underestimates the true value of the telecoms group. However, nobody appears to have been listening! Well, maybe things are starting to change. That’s because since 4 February, when the share price closed at 65.1p, it’s risen 16.1% to 75.6p (at lunchtime on 21 March). Although I’m a shareholder, I try to take a dispassionate view. There’s no point trying to kid myself if I know – deep down – that I made a mistake when I bought the stock. As Warren Buffett famously once said:…
The fundamental shift in fiscal policy in Germany over the past month has caused significant upheaval, placing the European bond market on uncertain ground. What will happen to longend rates when the usual assumptions about German frugality may no longer apply? The market has offered its initial take on the implications, sending the 10-year German yield up by approximately 0.4 percentage points since the beginning of March. This is a rather dramatic reaction, in our view, reflecting several mechanisms within the bond market. With a more expansive fiscal policy, the likelihood increases that growth and, consequently, the ‘neutral’ interest rate…
As the clock ticked down towards 12.01am Eastern Standard Time on 12 March, Liam Bates kept refreshing his browser.Over the preceding weeks, Marcegaglia, the stainless steel company whose long products division he headed up, had rushed to melt and ship as much metal as it could from its furnaces in Sheffield across to the east coast of America, ahead of the imposition of tariffs. Stainless steelUK and US industrially interlockedOf all the varieties of steel, stainless steel – an alloy of iron and chrome, along with other elements like nickel, molybdenum and carbon – is among the most important. Unlike…
Image source: easyJet plc The easyJet (LSE:EZJ) share price has underwhelmed lately. Since March 2020, it’s lagged behind the FTSE 250 as a whole, as well as trailing some of its industry peers. For example, International Consolidated Airlines Group, the owner of British Airways, has seen its share price more than double over the same period. Jet2 is up over 150%. Having said that, it’s still managed to outperform WizzAir, whose stock market valuation has fallen by a quarter over the past five years. But today (21 March) is a good day for those who owned the budget airline’s shares…
Image source: Rolls-Royce plc International Consolidated Airlines stock, or IAG (LSE:IAG) shares, fell around 2% in early trading today (21 March). This underscores concerns about the significant impact of Heathrow’s day-long closure, as British Airways, a key subsidiary of IAG, operates its primary hub at the airport. A closer look Heathrow Airport, the UK’s busiest — and the world’s fourth-busiest — airport has been forced to close for the entire day today. This follows a major fire at the North Hyde electrical substation in Hayes, west London, located approximately 1.5 miles from the airport. The fire, which broke out late…
The UFBU has decided to go ahead with the scheduled strike after discussions with the Indian Banks’ Association (IBA) over key demands failed to yield any positive outcome. Bank Holidays next week: Banking services are expected to be impacted next week as the United Forum of Bank Unions (UFBU) has called for a nationwide two-day strike next week. The UFBU has decided to go ahead with the scheduled strike after discussions with the Indian Banks’ Association (IBA) over key demands failed to yield any positive outcome. Banking Services To Be Impacted on These Days United Forum of Bank Unions, which…
Image source: Getty Images As an experienced investor, what I pick for my Stocks and Shares ISA is largely dictated by what I already hold. For example, I wouldn’t buy FTSE 100 defence giant BAE Systems today, even though it’s going gangbusters, because I loaded up last year. So while researching this year’s stock picks, I decided to call in AI, to ask what I should do if I was a newbie. I suspect quite a few ISA investors are doing that, but I’d urge caution. Its first pick was Reckitt Benckiser As ChatGPT admits itself, it’s not a stock…
BRUSSELS — The EU needs to build more tanks — and there’s no reason why those tanks can’t be green. In a bid to save its decaying steel and metal industries, the EU has formulated a plan to protect the sector against unfair competition from abroad, high energy prices and a looming trade war with the U.S. — all while helping it go green. With this strategy — which is largely based on leveraging the EU’s arsenal of trade measures against cheaper foreign products and subsidizing the sector’s decarbonization — Brussels is hoping that saving metals manufacturing will also boost…