• Germany Helps Europe Car Market Gain First Time in 9 Months

    (Bloomberg) -- European car registrations rose for the first time in nine months to gain marginally in May, helped by a jump in deliveries in Germany.Sales climbed 0.04% to 1.44 million cars compared to a year ago, the European Automobile Manufacturers’ Association said Tuesday. Sales in Germany, the biggest European auto market, surged 9.1% to counteract an ongoing pullback in the U.K., where uncertainty over Brexit continues to put off consumers from purchasing new vehicles. Spain also declined.The gain in Germany came despite gloomy economic data showing an unexpected rise in unemployment in May as well as consumer confidence coming in below predictions.Europe’s biggest auto market benefited from carmakers offering generous trade-in incentives to swap older diesel cars for cleaner, newer models or electric vehicles. Companies like Volkswagen AG and BMW AG are offering as much as 7,500 euros ($8,424) as a number of cities weigh or have put in place bans on older diesel cars.The country also had two additional trading days compared with a year ago. The U.K. declined 4.6% while Spain fell 7.3%.Car sales had been in a protracted slump since August, starting with wild gyrations after new emission testing regulations that extended into worsening anxiety over Brexit and slowing economic growth. Softer sales have led to sliding profits as carmakers battle global jitters over U.S.-China trade tensions as well as ongoing unprecedented spending on the shift to electric cars.Among major manufacturers, BMW saw strong gains of 8% for the group after also introducing a range of new models. Peugeot-maker PSA Group rose 4.1% in May, while Fiat Chrysler Automobiles NV fell 8.3%.The reprieve from a nascent turnaround may be short-lived, as carmakers ready for tightening European Union regulation on fleet carbon dioxide emissions starting next year. The industry faces penalties of 33 billion euros, unless more improvements can be achieved, Evercore ISI analyst Arndt Ellinghorst said in a note last month. The new rules will pressure carmakers to sell more electric and plug-in hybrid cars, which for now sell at lower margins than cars with combustion engines.For the year through May, Europe’s car market declined 2% to 6.94 million cars, according to ACEA.(Updates with manufacturer performance in 6th paragraph.)To contact the reporter on this story: Oliver Sachgau in Munich at osachgau@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Elisabeth BehrmannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Venezuela receives second shipment of Red Cross aid

    Venezuela Monday received a second shipment of Red Cross humanitarian aid, including 24 tonnes of medical supplies and generators provided by Panama, intended for hospitals to help address the country's acute health crisis. In a statement, the Venezuelan Red Cross said it had received "medicines, medical supplies and power generators" that will be distributed in hospitals across the country, which is experiencing the worst crisis in its recent history. Six trucks moved the supplies to a Red Cross warehouse in Caracas, an AFP journalist confirmed.

  • Oil prices fall for second day on economic growth worries

    Oil prices eased for a second day on Tuesday on signs that global economic growth is being hit by the U.S.-China trade war, although losses were limited by tensions in the Middle East after last week's tanker attacks. Brent crude futures were trading down 19 cents, or 0.3%, at $60.75 a barrel by 0320 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.3%, at $51.76.

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  • Oil Holds Losses as OPEC Uncertainty Adds to Weak U.S. Outlook

    (Bloomberg) -- Oil held losses as OPEC and its allies continue to struggle to set a date to discuss an extension to supply cuts and as U.S. economic indicators signal weakening demand.Futures lost 0.4% in New York after retreating 1.1% on Monday. Following talks with his Russian counterpart, Iran’s Oil Minister Bijan Namdar Zanganeh said he was willing to holds talks in July, one week later than the timing proposed by other group members. A Federal Reserve gauge for factories signaled a record slowdown in June, while sentiment among U.S. homebuilders unexpectedly dropped for the first time all year.Oil has lost about 22% since late April as growing American inventories and an entrenched trade dispute between the U.S. and China continue to cloud the demand outlook. While last week’s attacks on two tankers near the Strait of Hormuz raised concerns about a disruption to crude flows, focus has returned to the struggle by the Organization of Petroleum Exporting Countries to fix a meeting on supply cuts that are due to expire at the end of the month.“Crude remains vulnerable on falling demand expectations from trade uncertainty and OPEC’s inability to solidify its curtailment of future production,” Ed Moya, chief market strategist at Oanda Corp., said in a note. “U.S. factory and housing data showed the world’s largest economy is slowing down faster than expected.”West Texas Intermediate for July delivery slid 21 cents to $51.72 a barrel on the New York Mercantile Exchange as of 7:31 a.m. London time. Futures ended Monday 1.1% lower at $51.93 after capping a 2.7% weekly loss on Friday.Brent for August settlement lost 28 cents to $60.66 a barrel on London’s ICE Futures Europe Exchange. Futures slid $1.07 to close at $60.94 on Monday. The global benchmark crude traded at a $8.70 premium to WTI for the same month.See also: U.S. Crude Stockpiles Seen Falling 1.75M Bbl in Bloomberg SurveyComments from the Iranian oil minister about his willingness to hold talks next month leave unresolved a one-month impasse that has exposed the political fissures at the heart of OPEC. The group needs to agree on whether to keep restraining oil production for the rest of the year as crude demand shows signs of weakening. Zanganeh indicated he could meet July 10-12. The meeting originally was scheduled for June 25-26, and Russia has been seeking to move it to July 3-4.The dispute over the timing of the meeting is playing out amid a broader geopolitical confrontation as Saudi Arabia accuses Iran of complicity in attacks on the two oil tankers. Iran has denied culpability.To contact the reporter on this story: Heesu Lee in Seoul at hlee425@bloomberg.netTo contact the editors responsible for this story: Serene Cheong at scheong20@bloomberg.net, Ben Sharples, Dan MurtaughFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • Uber to retain Careem brand for now: Careem CFO

    Uber and Middle East ride-hailing business Careem will remain separate entities until at least the first quarter of 2020, when Uber's acquisition is expected to close, Careem's CFO said on Tuesday. The $3.1 billion dollar acquisition will make Careem a wholly owned subsidiary of Uber, but the Careem brand and app will remain intact, at least initially. Maintaining two separate brands in the same market is better for competition, Ankur Shah said at a financial conference in Dubai.

  • Stocks Trade Mixed; Yen Rises, Treasury Yields Dip: Markets Wrap

    (Bloomberg) -- Asian stocks put in a mixed performance Tuesday ahead of the highly anticipated Federal Reserve meeting, while Treasury yields dipped and the yen climbed.Stocks slid in Japan, rose in Australia, Hong Kong and South Korea, and fluctuated in Shanghai. European futures pointed lower. Investor focus remained firmly on the Fed’s statement and press conference Wednesday to see whether Chairman Jerome Powell and his colleagues will validate widespread expectations for interest-rate cuts. There was little cue from Wall Street’s Monday trading, when the S&P 500 Index closed flat, though tech stocks did send the Nasdaq 100 higher.The Aussie ticked lower after the Reserve Bank of Australia said that further easing is more likely than not in the period ahead. The euro was higher ahead of the European Central Bank’s annual gathering in Sintra, Portugal.Traders are refraining from putting on big bets ahead of the key central bank decision Wednesday, where they will look for signals on the likelihood of interest-rates cuts ahead. There’s a widespread desire for proof the Fed is ready to act, but too much change could raise alarm.“We know that the Fed doesn’t like to surprise people and the idea at this point of them digging in their heels and saying ‘absolutely no cuts,’ I think is very unlikely,” Josh Kutin, head of asset allocation for Columbia Threadneedle, said in an interview at Bloomberg’s New York headquarters. “Will it be the full number that’s priced in right now? I think that’s unlikely as well. I think somewhere between is pretty fair.”Elsewhere, oil retreated with OPEC nations still unable to agree on a date for their next meeting -- adding to uncertainty over whether production cuts would be extended.Here are some key events coming up:The European Central Bank’s annual symposium in Sintra, Portugal, takes place June 17-19Federal Reserve, the Bank of Japan and the Bank of England all set monetary policy, along with central banks in Norway, Brazil, Taiwan and Indonesia.The Fed meeting begins Tuesday with a decision and press conference the next day. Officials are expected to debate a rate cut to shelter the U.S. economy, in part, from the fallout caused by escalating trade disputes.In the U.K. Tuesday there will be a second ballot on the leadership contest to choose Theresa May’s successor as leader of the country’s ruling party.Final May CPI data for the euro zone are due Tuesday.These are the main moves in markets:StocksThe MSCI Asia Pacific rose 0.2% as of 3:05 p.m. in Tokyo.Topix Index fell 0.7%. Kospi Index rose 0.4%.S&P/ASX 200 Index rose 0.6%.Hang Seng Index rose 0.8%.Shanghai Composite fell 0.1%.S&P 500 Index futures were little changed.Euro Stoxx 50 futures fell 0.2%.CurrenciesThe yen rose 0.3% to 108.27 per dollar.The euro was at $1.1236, up 0.2%.The offshore yuan was little changed at 6.9358 per dollar.The British pound was little changed at $1.2532.BondsThe yield on 10-year Treasuries fell two basis points to 2.07%.CommoditiesWest Texas Intermediate fell 0.3% to $51.77 a barrel.Gold rose 0.5% to $1,345.96 an ounce.To contact the reporter on this story: Cormac Mullen in Tokyo at cmullen9@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna OssingerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

(ARA) - It's that time of year again - when holiday excesses leave everyone feeling overstuffed and overextended. We say we'll start fresh in the new year - we'll exercise more, we'll eat healthier, we'll get more sleep. But how about making a resolution that's just as beneficial, and may be a little easier to stick to - getting your finances in shape and being more fiscally fit?

Getting your finances in shape is especially vital for women - with longer life spans and a higher probability of taking time out from work to care for children or family, many women may have less time and resources to save for retirement. Studies show that the average working woman garners 60 percent of the retirement savings of the average male. There's no time like now to maximize the opportunities you have to create a financially secure future.

"Women have more options to take control of their financial destinies than ever before," says Linda Verba, TD Bank executive vice president of retail operations and service programs and chair of the bank's Women in Leadership committee. "Financial success comes from working toward measurable objectives, so the sooner you start on a path toward defining and attaining your financial goals, the better off you will be."

How can women work toward being financially secure and making smarter choices?

If you don't already have one, take a manageable amount of money - say, $1,000 - and start your emergency fund. Keep your emergency fund separate from your regular checking and savings accounts. Set up an automatic transfer from your regular checking account to occur on paydays - even $25 a paycheck will help your emergency fund grow.

Studies show that women see being debt-free and able to pay their bills on time as signs of financial success. Work toward being debt-free by writing down any debt you may have - such as credit cards, student loans and car payments - with the amounts owed, from least to greatest. Knocking out a couple of the lower balances first can give you a sense of achievement and provide the motivation to continue paying down debt.

Curb your impulses. There's hardly a woman alive who hasn't seen a pair of shoes she must have now, or been tired after a long day at work and gotten takeout food for dinner. Finance guru Dave Ramsey suggests finding a money mentor - someone a little older and wiser who can offer you advice, and who you can authorize to hold you accountable to your budget and check with before making large purchases.

Like the old saying goes, knowledge is power. According to a recent poll, women are often less aware of the financial tools that may be available to them than their male counterparts. Get on the path to understanding your options by starting with your bank. Many financial institutions, like TD Bank, have programs to provide financial education to their customers, and offer various seminars and workshops.

Make a New Year's resolution that will benefit you for years to come - 2012 can be the year you started toward a bright financial future.New year, new woman: Get fiscally fit with resolutions that stick
Category: Business