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Mind the Gap! Firstgroup cuts pensions by widening the CPI vs RPI gap
Back in 2011 when the government announced switching from RPI to CPI for determining public sector pensions we all should have known that this was just another ruse to use an even more unrepresentative inflation measure to cut expenditures. With the government’s lead it was also inevitable that this strategy would also be adopted by […]
Continue readingCanadian Pacific merger offer to Norfolk Southern
A year ago last month, Norfolk Southern’s (NSC) CEO, Wick Moorman was facing a proposed merger of one of its principal rivals, CSX, with Canadian Pacific (CP). At that stage, Mr Moorman was quoted as saying that a large railroad merger would be “highly problematic” and would face “far too many regulatory hurdles”. Â While conceding […]
Continue readingIs Apple going Ex-growth?
What’s the next big thing for Apple should the stalling growth in Chinese demand for the iPhone mark the peak in this product’s life cycle? Improvements to the Mac may be invigorating that product line, but its contribution remains relatively modest to the overall group, while the weak health of the global laptop market does […]
Continue readingLip smacking organic revenue growth from Pepsi is not what is seems
Pepsi’s reported organic revenue growth has been edging ahead all year and for Q3 it was up at +7.4%. For the purveyors of the black teeth rot, this was impressive, particularly since underlying sales volumes were up by only +1% globally. A quick look at the details however provided the answer with ‘organic’ revenues up […]
Continue readingTesco moves to stage 2 of its ‘recovery’
UK supermarkets are a bit like the beer they used to sell; bland and too many of them. Tesco however is working on that one as it culls its less profitable sites and brands (including the #4 UK brand, Carlsberg) to restore its growth and margin metrics, even it means from a lower base of […]
Continue readingdu Pont – So bad its now good!
Guidance slashed and CEO dumped. Shares bounce however on appointment of break-up artist and more layoffs. Up until today (6 Oct 2015) the narrative of a weakening underlying performance from macro and fx headwinds (particularly around Brazil and Agriculture) was trumping the speculative aspirations of activist shareholders such as Peltz and an EPS guidance […]
Continue readingHas Mail Online discovered irony or was it just a cock-up?
Perhaps the successful Mail Online should stick to celebrity gossip as its foray into serious issues seems prone to schlock. While lacking the pithy wit of a News of the World headline, the Mail Online’s recent article on China’s alleged mistreatment of Falun Gong certainly pulled few punches with its title: “Thousands of religious prisoners […]
Continue readingYellen – Who are you calling Chicken?
LoL – Yellen chickens out of hike interest rate as expected. Indeed, one FOMC member appears to be expecting negative rates. Just confirms that the Fed has no idea how to get the patient off the hopium. This party is going to have to carry on until we finally get a currency collapse. With […]
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