Atmospheric rivers, narrow bands of enhanced water vapor transport in the atmosphere, have been associated with extreme rainfall and flooding in some areas, especially western North America. Lavers and Villarini now show that atmospheric rivers are also responsible for a significant number of days of high precipitation in Western Europe. …read more
Source: FULL ARTICLE at Phys.org
By Reuters
Filed under: Technology, Apple, Computer Industry, Internet, Investing
By Jeremy Wagstaff
and Lee Chyen Yee
SINGAPORE — After five years of explosive growth sales of high-end smartphones have hit a plateau and the $2 trillion industry — telecom carriers, handset makers and content providers — is buckling up for a bumpier ride as growth shifts to emerging markets, primarily in Asia.
While carrier subsidies have helped drive sales of high-end devices in mature markets, the next growth chapter will be in emerging markets where cost-conscious users demand cheaper gadgets and cheaper access to cheaper services.
This year, the number of mobile Internet users in the developing world will overtake those in the developed world for the first time — growing 27 times since 2007, compared to the developed world’s fourfold growth, according to estimates from the International Telecommunications Union.
“The center of gravity in the mobile ecosystem is likely to shift from the United States and Western Europe toward Asia,” Mary Ellen Gordon, director at mobile advertiser Flurry, said in an emailed interview.
That shift is a challenge to profit margins at the likes of Apple (AAPL) and Samsung Electronics, which together sell half of the world’s smartphones. Both companies announce quarterly results this week.
Samsung has indicated its second-quarter operating profit will fall short of estimates as demand for high-end smartphones slows. Apple is also exploring cheaper iPhone models that come in different colors to tap the mass segment, sources have said.
Neither faces any kind of crisis. But, industry experts say, many users in mature markets who want a smartphone already have one. European smartphone shipments grew 12 percent in January-March from a year ago, the slowest growth since IT research-firm IDC started tracking the mobile market in 2004.
Asia: A Driving Force
Many of the new mobile users will be in Asia Pacific. The region will this year have more mobile Internet users than Europe and the Americas combined, ITU predicts. And there’s plenty of room to grow: fewer than 23 in 100 in Asia are mobile Internet users, versus 67 in Europe and 48 in the Americas.
“Asia will be the driving force of global growth for the next two decades,” says Scott Lee, head of Asia at Appsnack, a division of U.S. based digital advertising company Exponential Interactive.
The catch: much of this growth will come from users of devices that are up to 10 times cheaper than those in the developed world. Cheaper components, easy and fast access to latest versions of Google’s (GOOG) Android operating system, reference designs from chipmakers and falling prices of the chipsets themselves are pushing this, says Frederick Wong, a portfolio manager at tech-focused eFusion Investment, who owns four smartphones.
China, the world’s biggest mobile market — where only about a fifth of …read more
Source: FULL ARTICLE at DailyFinance
Do migrants from Eastern European countries become happier once they have settled in Western Europe? …read more
Source: FULL ARTICLE at Phys.org
President Obama’s recent trip to Africa cost taxpayers an estimated $7.5 – $12.5 million per day, according to a new study by the National Taxpayers Union Foundation, which does its best to sort through the less-than-transparent record-keeping and tally how much taxpayers are forking over every time a President takes flight.
What’s more, President Obama is on course to become the second-most traveled U.S. President among post-war commanders-in-chief, having spent 95 days on 25 trips abroad in his first term, surpassed only by George H.W. Bush. Although the operating cost of Air Force One is estimated to be approximately $179,750 per hour, a plethora of other costs associated with presidential travel remains elusive to taxpayers and government accountability advocates.
“What this really highlights is the lack of transparency and accountability in Presidential travel,” said study Author Michael Tasselmyer. “These things aren’t followed very closely.”
In addition to tallying the cost per hour of operating Air Force One, Tasselmyer also looked at other factors that can affect the total price tag of presidential trips, including the length of stay at a given destination. He noted that because Obama tends to make more frequent, but shorter trips than past presidents, other costs such as security detail and planning for the trip itself are likely to push the taxpayers’ bill even higher.
It’s not just the President who has been racking up the miles—and the bills. Taxpayers also cover the costs when the First Lady travels, and travel she does! Ms. Obama has been to Ireland, Africa, Western Europe, and Copenhagen on the taxpayers’ dime, likely flying on a C-40B or C, which costs between $19,755 and $26,936 per hour, or at times the larger C-32 passenger jet, which costs taxpayers a whopping $42,936 per hour. As proud advocates of the climate change agenda, the First Lady and President should know better than to emit so many greenhouse gases themselves.
While travel is certainly a component of the president’s role, advocates of more transparent and fiscally accountable government are simply asking for better recordkeeping so that travel can be monitored and costs tallied more easily.
“There seems to be a lack of information or a lack of interest about the costs of this stuff,” Tasselmyer concluded. “For a lot of it, the records just weren’t there.”
With a massive national debt and billowing deficits as far as the eye can see, fiscal conservatives are certainly right to seek more accountability from elected officials when it comes to the none-too-trivial costs of presidential travel.
By Manzanita McMahon.
This article originally appeared at AIM.org and is reprinted here with permission.
Source: houzz
By Eric Bleeker, CFA, The Motley Fool
Filed under: Investing
Tomorrow’s D-Day for tax filers across the United Sates. While its easy to bemoan your tax rate, especially if you owe money to Uncle Sam, the United States actually has a relatively low personal tax rate compared with other countries.
Last October, accounting firm KPMG put together a study of the countries with the world’s highest tax rates on personal income. Not surprisingly, Europe was among the most-taxed regions. Western Europe led all world regions with a 46.1% tax rate on personal incomes. By contrast, North America stood at 27.7%.
Also, while the top income-tax bracket for America is jumping to 39.6% this year, it stands neck-and-neck with Spain for having the world’s highest income level where the highest rate of taxes takes effect.
Clearly, taxes are a matter of significant controversy. Not only do tax codes and deductions vary wildly by country, but the services a citizen receives for his or her tax dollars also differ. Services are difficult to measure in an objective manner, but KPMG tried looking beyond purely top tax rates by measuring effective taxes for people who earn both $100,000 and $300,000 per year.
Let’s look which countries’ citizens had the highest tax burden in 2012, and how they compare with the United States.
1. Belgium
2. Italy
3. France
4. Denmark
5. Greece
For comparison: The United States
From: http://www.dailyfinance.com/2013/04/14/think-your-taxes-are-high-the-5-countries-with-the/
German automaker Volkswagen AG says sales were flat in March and that global car markets outside North America and China “are becoming even more difficult.”
The Wolfsburg-based company delivered 864,400 vehicles during the month, 0.2 percent more than the same month a year ago.
Sales chief Christian Klingler said in a statement Friday that the company maintained “positive momentum” of sales in North America and China.
But he warned that “almost all other regions, particularly the markets in Western Europe, remain affected by uncertainty which is in some cases considerable.”
Car sales are sagging across Europe because of the debt crisis that afflicts countries that use the euro currency. Governments are cutting back spending to reduce debt, deepening recessions and increasing unemployment to 12.0 percent.
From: http://feeds.foxnews.com/~r/foxnews/world/~3/rkYKbYMEF7g/
France‘s top rabbi has taken leave from his post after becoming ensnared in a scandal over alleged plagiarism and lies about his educational background.
Richard Prasquier, the head of a leading French Jewish group, said Rabbi Gilles Bernheim asked for the leave at an emergency meeting Thursday of leaders of the Central Consistory of France.
On Tuesday, Bernheim acknowledged making “mistakes” in an interview with Radio Shalom.
Bernheim faced accusations by a French academic who tracks suspected plagiarism that parts of his 2011 book “Forty Jewish Meditations” and part of a text he wrote on gay marriage had been lifted from others. His text was cited in December in a speech by Pope Benedict XVI.
France‘s Jewish community is the largest in Western Europe, at around 500,000.
From: http://feeds.foxnews.com/~r/foxnews/world/~3/_S62yh8cd0c/
By Business Wirevia The Motley Fool
Filed under: Investing
Electric Bicycle Sales to Reach Nearly 38 Million Units per Year by 2020, Forecasts Navigant Research
BOULDER, Colo.–(BUSINESS WIRE)– Driven by intensifying urbanization, the increasing use of bicycles and other two-wheeled vehicles for everyday commuting, and the rise of new market entrants and more mature products, the market for electric bicycles has become well-established in some regions, particularly in Asia Pacific and Europe. According to a new report from Navigant Research, worldwide sales of e-bikes will grow slowly but steadily through the remainder of this decade, growing from 30.6 million units annually in 2013 to 37.9 million units in 2020.
“In many cities, the streets are so clogged with traffic that they are virtually unnavigable by car, and e-bikes are seen as an increasingly viable option for urban mobility,” says Dave Hurst, principal research analyst with Navigant Research. “The utilization of high-quality, affordable lithium ion batteries, among other factors, is helping open this market to people outside the normal e-bicycle demographic. Younger riders are more frequently turning to e-bicycles in countries in North America and Western Europe.”
China accounts for the vast majority of e-bicycle sales: 90 percent of the e-bicycles sold worldwide from 2013 to 2020 will be sold in China. Many cities in China, however, either already have or are considering bans on e-bicycles because of increasing accidents and bicycle congestion. The report’s forecasts assume that bans will either remain in place or be enacted in parts of several major cities, including Beijing, Shanghai, and Shenzhen.
The report, “Electric Bicycles”, provides a detailed analysis of the market forces, key drivers of growth, technology, and government influence on the worldwide market for electric bicycles. Forecasts are included, both base and aggressive scenarios, for annual e-bicycle sales through 2020, broken down by region and by battery technology. The report also includes profiles of key e-bicycle manufacturers, suppliers, and other market players. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart
From: http://www.dailyfinance.com/2013/04/11/electric-bicycle-sales-to-reach-nearly-38-million-/
By Business Wirevia The Motley Fool
Filed under: Investing
Starwood Hotels & Resorts Appoints New Leader of Europe, Africa & Middle East Region
President Roeland Vos Steps Down; Longtime Starwood Executive Michael Wale Named as Successor
STAMFORD, Conn.–(BUSINESS WIRE)– Starwood Hotels & Resorts Worldwide, Inc. (NYS: HOT) today announced that Roeland Vos, long-time President of Starwood’s Europe, Africa, & Middle East (“EAME“) region, will step down and be succeeded by Michael Wale, a 35-year Starwood veteran who most recently served as Senior Vice President and Director of Operations for Western Europe. Mr. Vos will transition into a consulting role with the company, effective June 1, 2013.
Frits van Paasschen, President and Chief Executive Officer of Starwood, stated, “We are grateful to Roeland for his many outstanding contributions to Starwood during his more than 30 years with the company. One of the most respected operators in the industry, Roeland has overseen Starwood’s growth across a diverse region, and during his 12-year tenure leading EAME we’ve nearly doubled our hotel footprint in the region and accelerated our business in key fast-growing markets. We are delighted that Roeland will continue to work with Starwood in a consulting role to support development and the growth of our brands across the EAME region.”
Mr. van Paasschen continued, “At the same time, Starwood is fortunate to have a deep bench of global talent, and we continue our legacy of promoting from within, appointing one of our proven leaders to a position of expanded responsibility. Michael has been instrumental in strengthening the profile of Starwood’s brands across Europe, including launching new brands in select markets, and restoring marquee and luxury properties in others. With his combination of strategic vision, management experience, relationships with associates and customers, and a global sensibility, Michael is perfectly positioned to oversee Starwood’s continued growth as our new President of Europe, Africa and the Middle East.”
Mr. Vos joined Starwood in 1982 and has held progressive management positions throughout his career, including President, Europe and SVP, Area Director of Italy & Malta. In 2001, he was appointed President, EAME, and under his leadership Starwood grew from 127 properties in the region to 243 hotels and resorts in 60 countries with an additional 64 hotels in the pipeline today.
Mr. Wale began his career with Starwood as a graduate trainee in 1978 at what was then ITT Sheraton. In his most recent role, he was responsible for managing Starwood’s operations in Western Europe, leading 54 hotels across eight brands in 13 countries. Previously, Mr. Wale …read more
Source: FULL ARTICLE at DailyFinance
By Kenneth Rapoza, Contributor
Within seven years, China will outstrip the United States to become the world’s leading market for premium cars. It already beat the U.S. for top auto market in general in 2009. The Organisation for Economic Development and Cooperation said last week that China would overtake the U.S. as the world’s leading economy by 2016. No doubt about it, when it comes to being big: China is fast becoming the new biggest. Niche auto markets are no different. On the luxury end, China drivers are going to be starting soon from the pole position. “In the U.S. auto market, the American version of luxury is a little different than the Chinese,” says Hans Werner Kaas, a 22 year veteran of McKinsey & Company. He leads their U.S. auto practice in Detroit. “If you have a fully equipped Ford Explorer with all the bells and whistles, you’ve got a luxury vehicle.” Around 14% of the cars sold in the U.S. are considered to be premium vehicles. In China last year it was around 9%. “The luxury segment in China is dominated by the traditional German high-end car makers. It’s Mercedes Benz, BMW and Audi on the roads in Shanghai,” says McKinsey partner Sha Sha in Shanghai. Where’s this market heading? With under 10% penetration, it has at least 40% upside before it comes close to the U.S. today. By 2020, China will be selling around three million luxury cars while the U.S. will be selling around 2.3 million, according to a McKinsey report published last month. In the 16 page report, written by Sha Sha and two colleagues, their Asian automotive practice forecast China’s premium car market to grow at an annual rate of 12% over the next seven, compared with 8% for the overall passenger car market there. China‘s total luxury auto market will equal that of all of Western Europe by then. In fact, if all goes swimmingly well with China‘s 12th Five Year Plan — no hard landings, no economic turmoil pulling the rug out from under China in Europe and U.S. — then China could just as well overtake the United States as the largest premium car market in three years. Trading Up China‘s young professionals are earning more than their parents ever dreamed of. They grew up frugal, mainly out of necessity. But now they have extra money to spend. The one child policy means Chinese families have more money to pass down to their young children. The roads they drive on may be crowded in cities like Beijing, and the roads full of potholes in second and third tier cities, but Chinese consumers are giving up their bikes for cars. As incomes rise, they are giving up their Buicks — the most popular American vehicle sold in the country — for Land Rovers, Jags and German luxury. Premium cars accounted for just 24,000 units in 2000 and over a million in 2012. At a time when the luxury vehicle market is stalling in the U.S. and Europe, China is becoming …read more
Source: FULL ARTICLE at Forbes Latest
By Matt Davis
Filed under:
The (technically speaking) 2015 Audi S3 sedan should start at right near $39,000.
The last time Audi gifted the world with a small sport sedan was way back when the A4 wasn’t an entry-luxury executive car costing relative gads of dough, so maybe since the mid-1990s. In a company decision reversal, we’re now officially getting the new A3 Sportback starting later this year, but that’s a five-door hatch and not a big volume attraction for markets like the United States. And there’s no guarantee we’ll get the S3 Sportback version yet. So, what to do?
An S3 sedan is what. Audi was nice enough to usher us in to a private audience with this hotly awaited model in a westside Manhattan pier warehouse prior to the official unveil at the New York Auto Show tomorrow. Here is just a knee-jerk reaction to lead off… She do look damned fine, kids. (We’ll have live images to share soon, so keep an eye on this post later.)
This heartier version of the new smaller notchback sedan from Ingolstadt is set to launch in western Europe as of December this year (after the A3 sedan in September), and US deliveries will begin during summer 2014. Talking with Audi experts at this little get-together and shoving some numbers around, the (technically speaking) 2015 Audi S3 sedan should start at right near $39,000. US S3 sedans come standard with a sunroof, 18-inch wheels, full leather, Sirius satellite radio, the three-spoke sport steering wheel with shift paddles for the also-standard six-speed S-tronic, and fully automated adjustable sport seats. Unfortunately, no six-speed manual shifting will be offered.
Continue reading Audi S3 Sedan boasts SAE 296 hp, 0-60 in 4.7 seconds
Audi S3 Sedan boasts SAE 296 hp, 0-60 in 4.7 seconds originally appeared on Autoblog on Tue, 26 Mar 2013 18:00:00 EST. Please see our terms for use of feeds.
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Source: FULL ARTICLE at Autoblog
By Business Wirevia The Motley Fool
Filed under: Investing
UPS Expands Expedited Ocean Freight Services, Global Reach
UPS adds Preferred LCL lanes between Western Europe and the U.S. to help importers balance speed and cost
ATLANTA–(BUSINESS WIRE)– UPS® (NYS: UPS) today announced the expansion of its Preferred Less-Than-Container Load (PLCL) expedited ocean freight service to include Western Europe. The move highlights UPS‘s competitive advantage in providing customers new options to move goods quickly, yet economically. Additional port access will open in Germany, the Netherlands, Belgium and the United Kingdom, providing shippers up to 40 percent faster port-to-door delivery time to the U.S. than UPS‘s standard LCL service*. Customers will also have access to the same visibility technologies used for package shipments.
“The expansion of our expedited ocean freight service comes at a time when many companies are considering other modes of transportation for their freight movements,” said Keith Andrey, vice president, UPS ocean freight services. “In the two years that we’ve offered the PLCL service in Asia, we have seen a great deal of customer interest in an expedited ocean freight product. Now that we are expanding this service to Europe, we can help customers bridge the gap between the speed of air freight and the economy of ocean freight to better compete in the global market.”
UPS‘s PLCL service was first launched in the spring of 2011. The time-in-transit improvements are the result of leveraging UPS‘s existing North American freight network. UPS continues to be a leader in the ocean freight market for expedited LCL services, providing service from 26 Asian ports and now four Western European ports.
Companies positioned to benefit from this expedited ocean freight service include U.S. importers and European customers in the industrial, automotive, retail and healthcare industries.
As a top 10 global freight forwarder and one of the world’s top U.S. Non-Vessel Operating Common Carriers (NVOCCs), UPS provides a complete portfolio of ocean freight services ranging from transportation to a Supplier Management service that handles overseas vendors and orders. To learn more about UPS‘s ocean freight offerings and access our global freight services videos, visit ups.com/global freight.
UPS (NYS: UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of …read more
Source: FULL ARTICLE at DailyFinance
Just as rumors resurfaced that Google is getting into the smartwatch game, Oko International, the maker of a wide range of watches and timepieces sold under the brand name ‘Android,’ is suing the company for trademark infringement.
Oko, established in 1991, sells more than 400 watches and clocks that have been trademarked as “Android” products since 1994. Its pieces, which are marketed across North America, Japan and Western Europe, generate between $1 million and $5 million in annual sales.
The company, however, does not seem intimidated by Google. “It does not matter how big the company is. We did not give Google the right to use that name,” said Oko chief designer and CEO Wing Liang.
The timing of the suit, which was filed Wednesday in the California Central District Court, is noteworthy. It was filed the same week Google’s Android unit was reported by the Financial Times to be in the midst of developing its own smartwatch.
To read this article in full or to leave a comment, please click here
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Source: FULL ARTICLE at PCWorld
By Royston Wild, The Motley Fool
Filed under: Investing
LONDON — Shares in beleaguered British retailer Marks & Spencer Group have shot higher in recent days, fueled by speculation that the Qatari Investment Authority is concocting an 8 billion pound takeover bid for the shopping chain.
The company has become an enduring casualty of the troubled domestic retail environment, but I am backing the iconic shopping brand’s drive into emerging markets to reinvigorate its fortunes and offset enduring weakness in the U.K. and Western Europe.
International expansion to fuel future growth
The retailer’s January interims revealed that group sales trudged just 0.6% higher in the three months to the end of December, with U.K. revenue edging 0.3% higher during the period. British like-for-like sales dropped 1.8%, meanwhile, and the firm warned of further toughness in the retail environment at home.
To address this ongoing weakness, Marks & Spencer is aiming to boost its operations in countries with strong structural drivers across Asia, the Middle East, and Eastern Europe. For example, it is planning to hike the number of stores in India from 30 to 80 within the next three years, while in China it aims to boost the number of its stores in Hong Kong and Shanghai in the near term.
And the company plans to use a multichannel approach to geographical expansion, including the establishment of franchise stores with strong partners, which will harness both local knowledge and infrastructure to spark growth. Marks & Spencer is also looking to aggressively tap into online trade in these regions, and it launched its local website in China at the start of the year.
Looking good for earnings turnaround
According to broker forecasts, earnings per share are expected to dip 7% to 32 pence in the year ending March 2013 before reverting 7% higher during the following year to 35 pence. And an 8% rise to 37 pence is penciled in for 2015.
Despite the recent share-price ascent, the retailer still trades at a significant discount to the broader retailers sector’s forward earnings multiple of 18.7. Shares in Marks & Spencer currently change hands on a P/E of 12.1 for 2013, and this is anticipated to fall to 11.3 and 10.5, respectively, in 2014 and 2015.
Get used to great dividends
Marks & Spencer’s investment appeal is bolstered by a sound dividend policy. City analysts expect a shareholder payout of 17 pence per share for March 2013 — which would match the dividends of 2011 and 2012 — to rise to 17.8 pence in 2014 and 19 pence in 2015. These payments come with respective yields of 4.8% and 5.1%, besting the mean reading of 3.5% for the U.K.’s 100 largest companies. Further, investors can take comfort in dividend coverage close to the safety threshold of two times: 2014 and 2015 dividends are both covered about 1.9 times.
The canny guide for clever investors
If you already hold shares in Marks & Spencer Group, check out this newly updated …read more
Source: FULL ARTICLE at DailyFinance
By John Rosevear, The Motley Fool
Filed under: Investing
It’s not news that Ford has been losing a ton of money in Europe. The Blue Oval’s operations in the region lost $1.75 billion in 2012, as a steep recession hammered car sales across the industry.
It’s also not news that Ford is determined to restore its European operation to profitability. Last fall, CEO Alan Mulally announced a comprehensive overhaul plan that included three factory closings and a slew of new models for the region.
But what is news is that Ford’s turnaround plan is going to be an expensive one.
A $750 million parting gift
Ford disclosed in a regulatory filing on Tuesday that its plan to close a factory in Genk, Belgium, would cost it at least $750 million. That’s the estimated total cost of lavish separation benefits – an average of $187,500 per worker – that Ford has agreed to pay to the roughly 4,000 hourly workers who are slated to lose their jobs when the factory closes at the end of 2014.
Workers at the Genk factory and its suppliers had essentially held up production at the plant since Ford’s closure plans were announced last October. The agreement to pay separation benefits was a key to getting production restarted. Another agreement to pay separation benefits to the 300 salaried workers who will be affected by the factory’s closing is likely to be announced soon.
The factory finally returned to normal production this past Monday.
Ford will report the separation expenses as a series of special items, amortized over the remainder of the time Genk is open. The company said that the amount reported each quarter would be “dependent upon such factors as the timing of employee departures.”
It’s an expensive proposition that could get more expensive as Ford proceeds with its turnaround plan – especially if more factory closures turn out to be necessary. But it’s further proof of something that has been clear for a while: Closing a car factory in Western Europe isn’t easy.
A slow road to downsizing
In most of the countries in Western Europe, labor unions enjoy heavy legal protection – and wield considerable political power. That makes any factory closing a complicated, protracted affair.
General Motors found this out the hard way over the last year and a half, as its fervent wish to close a German auto factory has run into formidable opposition even after extensive negotiations. If it closes, GM‘s plant in Bochum will be the first German auto factory to close since the end of World War II – a milestone that comes with significant political implications.
After over a year of negotiations, it’s now looking likely that GM will get its plant closing, but not for several years – and not without some expensive accommodations of its own for the displaced workers.
It has to happen, though. The truth is that Europe has too many auto factories producing too few cars. An industry rule of …read more
Source: FULL ARTICLE at DailyFinance
What in the world is going through the minds of European officials with their crazy, destructive demands with Cyprus? Seizing a portion of peoples’ bank deposits is the kind of thing one would expect from Argentina or other kleptocratic third-world governments. It sets an awful precedent shredding the rule of law, which is the bedrock of a free and vibrant society. The fact that Cyprus is small is irrelevant. The germane fact is that it was Western Europe, supposedly a strong believer in the rule of law, that engaged in this Hugo Chavez-like move. Now, it’s not inconceivable that President Obama or somebody with a similar ideology could propose seizing and integrating people’s 401K plans into Social Security. And in a panic, Congress would go along. …read more
Source: FULL ARTICLE at Forbes Latest
Quick Take We expect Nike’s top line growth in Q3 2013 to be fueled by higher demand from North America and the emerging markets Weakness in China and Western Europe could present headwinds to Nike’s top line in Q3 2013 We think Nike’s gross margins in Q3 2013, could be affected by its efforts to clear the excess inventory in China along with rising labor costs and unfavorable currency impact Sportswear giant Nike is scheduled to announce its Q3 2013 results on March 21. In Q2 2013, its revenues grew by 7% annually to reach $5.9 billion. However, its gross margin declined by 30 basis points annually in Q2 2013 to 42.5%, mainly on account of increase in labor costs and unfavorable currency impact. …read more
Source: FULL ARTICLE at Forbes Latest
By Royston Wild, The Motley Fool
Filed under: Investing
LONDON — Plumbing and heating product specialist Wolseley (NASDAQOTH: WOSCY) has continued to grow despite extreme difficulties in its key markets of Western Europe.
Steady progress into North America, coupled with sterling work to improve operating margins through dynamic pricing and cost reductions, has helped heal itself following the 2008 recession.
The shares have risen almost 23% over the past six months and are trading just below recent all-time highs above 3,280 pence. However, I believe the price currently trades at too lofty a premium given persistent headwinds on the continent and recent patchy data from the U.S., which could drive the stock lower in the near term.
Revenues remain bubbly… for now
The firm’s December interims showed revenues rise 0.9% to £3.3 billion in the July October period, with like-for-like sales up 2.1%. This pushed trading profit 7.6% higher to £198 million.
Wolseley has made excellent progress in the U.S. in recent years — the region now accounts for more than half of group turnover — and like-for-like sales there rose 7.1% in the first quarter.
However, the company has witnessed a continued deterioration in Western Europe, with like-for-like sales in France and the Nordic states slumping 8.2% and 4.8% respectively on an annual basis. Meanwhile, like-for-like sales in the U.K. fell 0.3%, and the firm is reviewing its strategy in Europe in a bid to stem losses.
Looking ahead, the implications of government spending cuts across the Atlantic could heavily dent Wolseley’s key markets later this year, while recent data has also raised fresh concerns over the construction industry.
Latest U.S. construction spending numbers showed annual expenditure fall 2.1% in January to $833 billion — the largest fall since mid-2011 and bucking nine successive rises — as spending from both the public and private sectors slumped.
Shares ascent raises valuation question
Analysts expect earnings per share to rise 9% in the financial year ending July 2013 to 183 pence, before accelerating 19% in 2014 to 218 pence.
Wolseley also offers a progressive dividend policy, although medium-term yield estimates are expected to remain below the FTSE 100 average of 3.5% — yields of 2.1% and 2.5% are anticipated in 2013 and 2014 respectively. The firm hiked its dividend to 60 pence per share last year from 45 pence per share in 2011, and payouts of 69.3 pence per share in 2013 and 82.2 pence per share in 2014 are predicted by City brokers.
The company currently trades on P/E ratios of 17.9 and 15 for 2013 and 2014 respectively following steady share-price increases. But I believe that, considering the company still has work to do to combat deteriorating conditions in Europe, and business in the U.S. could run into trouble in the near future, the rapid ascent in the share price does not address these issues.
The canny guide for clever investors
Although Wolseley presents too much risk at current prices in my opinion, this special reportfeaturing ace fund manager Neil Woodward highlights a host of other …read more
Source: FULL ARTICLE at DailyFinance
By Business Wirevia The Motley Fool
Filed under: Investing
Connected Automotive Infotainment System Shipments to Exceed 62 Million by 2018 as Feature Set Explodes, According to ABI Research
LONDON–(BUSINESS WIRE)– Shipments of connected automotive infotainment systems will grow from 9 million in 2013 to more than 62 million in 2018 with connected navigation, multimedia streaming, social media, and in-car Wi-Fi hotspots becoming key features.
ABI Research VP and practice director Dominique Bonte comments, “Open platforms continue their march forward. While both the GENIVI consortium (open source common automotive infotainment reference platform) and the Car Connectivity Consortium (MirrorLink screen replication technology) somewhat struggle to find momentum, the car industry is now turning its attention to HTML5 and Android with both Renault (R-Link) and Volvo (Sensus Connected Touch platform based on Parrot’s Asteroid Smart) embracing (heavily) modified versions of the Android operating system.”
In a similar vein, automotive applications and/or stores have become standard components of any connected automotive infotainment platform with the automotive industry finally realizing the ability to download aftermarket services and apps is a powerful way to keep systems up-to-date and relevant during the vehicle lifecycle.
On the connectivity side, 4G seems to finally have been accepted as the connectivity technology of the future, following GM’s announcement to adopt AT&T’s 4G technology to power next generation infotainment platforms offering navigation, in-car hotpots, and multimedia services. Clearly, carriers across the globe are keen to play a key role in the connected car and more generally the Internet of Everything revolution.
ABI Research’s new “Connected Car” Market Data provides detailed forecasts of connected automotive infotainment solutions including hardware shipments and service revenue for the United States, Canada, Western Europe, Eastern Europe, Latin America, Asia-Pacific, and Africa & the Middle East. It is part of the Automotive Infotainment (http://www.abiresearch.com/research/service/automotive-infotainment/) and Automotive Technologies Research Services (http://www.abiresearch.com/research/service/automotive-technologies/).
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 70+ research and advisory services. Est. 1990. For more information visit www.abiresearch.com, or call +1.516.624.2500.
ABI Research
Christine Gallen, +44.203.326.0142
pr@abiresearch.com
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The article Connected Automotive Infotainment System Shipments to Exceed 62 Million by 2018 as Feature Set Explodes, According to ABI Research originally …read more
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