Category: News Desk

Christmas Comes Early For Hasbro With 3rd Quarter Profits


Toy maker Hasbro Inc. has reported third-quarter profit growth of more than 10 percent, as international sales, coupled with rising demand for boys’ toys such as Nerf guns and Transformers, helped to make up for weakened consumer spending in the US.

The improved results come as the company continues to expand into global emerging markets, where a 23 percent increase in international sales helped to offset for a 7 percent decline in the US and Canada.

Key Economic News To Watch This Week


A quick preview of the key economic events for the upcoming week:

Monday, 17 October

UN under secretary general for humanitarian affairs visits North Korea.

U.S. Industrial Production data released, the main gauge of industrial activity measuring the output of factories, mines and utilities.

Tuesday, 18 October

Ukrainian-Russian inter-regional economic forum held in Ukraine.

Pimco, the World’s Biggest Bond Fund, Apologizes To Investors for “A Bad Year”


Bill Gross, manager of the world’s biggest mutual fund, has apologized to Pimco investors for his poor performance saying “I’m just having a really bad year.”

Gross’ apology comes after the poor performance of the Total Return Bond fund. For this year, Pimco has underperformed on its index, the BarCap Aggregate Bond by more than four percentage points.

Europe Given Till The End Of The Week To Fix Its Crisis Or Else…


G-20 finance ministers has called on eurozone leaders to take decisive measures by the end of week in controlling the ongoing debt crisis, or face the risk of sending the entire world economy into a downward spiral.

The October 23 European Union summit must “address the current challenges through a comprehensive plan”, said finance ministers and central bankers of the G-20 economies in a joint statement issued after their meeting ended in Paris last Saturday.

Infographic: The High Cost of Prescription Drugs in America


The average American spends more on prescription drugs than the citizens of many other advanced economies in the world.

One of the primary reasons for this is because brand name prescription drugs simply cost more in America than they do in other countries. As a result, many Americans routinely decide to order their prescriptions from Canada rather than purchasing them from within the United States.

Google Earnings Exceed Forecasts Easing Fears over Online Ad Market


The online search and advertising leader, Google, posted its third quarter results yesterday in a reminder of how Google Inc. has used its dominant position in the Internet realm to build a business that endures economic turbulences better than most other companies.

Hedge Fund Billionaire Raj Rajaratnam Sentenced 11-Years in Prison for Insider Trading


Raj Rajaratnam, the hedge fund billionaire at the center of the largest insider trading scandal in the U.S. has been sentenced to 11 years in prison, the harshest sentence meted out for the crime.

Rajaratnam’s sentence brings to a close a prosecution marked by secret wiretaps of Rajaratnam and his partners, in a scandal that shocked much of the investment world.

Infographic: How Facebook Enriches the College Experience


Facebook has changed to way students interact, both online and offline. According to some studies, Facebook is the most used social network for students, who spend about 100 minutes each day on the site. Professors and American universities are on Facebook too, and research has shown that ‘Facebooking’ has increased engagement and interaction between student and faculty.

Check out this infographic which tracks the timeline of Facebook usage among students, and the different education-related apps that are available on the social network. 

 

UK Unemployment Reaches 17-Year High


 

Unemployment has reached 2.57 million across the United Kingdom as the economic downturn, combined with long term trends towards youth unemployment, saw jobless figures rise again.

The U.K. statistics agency said the ranks of the unemployed swelled by 114,000 to 2.57 million in the three months to the end of August, raising the jobless rate to 8.1%.

Peanut Butter Prices to Rise After Poor Peanut Harvest


 

After a hot and dry summer this year, the wholesale price of peanuts have skyrocketed from US$450 to US$1,150 a ton. In response, top peanut butter brands are forced to increase their prices: Skippy is up 30 to 35 percent, and other sellers have announced they would also raise their prices in the ranges of 20 to 40 percent.