Like a broken record, Sports Direct is still lingering in the headlines as more scrutiny is being put on the retail company. On a more exciting note, the European Central Bank has started its bond-buying program to artificially move the consumer price inflation closer to the 2% target with the purpose of boosting growth and inflation in the Eurozone. Flooding the sovereign bond market with ECB money hasn’t had any significant return, but the crowd is still following this event with close attention, same with other hot stories on Sentifi today.
1/ Sports Direct Intl: Still makes the headlines regarding poor working conditions of employees [1,159 messages in the last 24h]
The company is now under heavy scrutiny about its the poor treatment it imposes on its employees. Many critics now point to the corrupted labor system in the U.K. as one of the reasons that enable the reality of the horrible working conditions at Sports Direct.
2/ Corporate Bonds: ECB buys corporate bonds to boost eurozone [1,063 messages in the last 24h]
The European Central Bank has started to buy corporate bonds in order to boost a single investment-grade rating, and Mario Draghi said he aims to make the biggest impact possible with this bond purchase. This is titled the latest weapon to kick-start the sluggish growth and inflation in the eurozone, which may get worse with the EU referendum around the corner.
3/ Lulu Athletica Inc: First-quarter earnings beat estimates but offers softer outlook [893 messages in the last 24h]
The company reported net income of $45.3 million and revenue of $495.5 million, which are both higher than analysts’ estimate. Unfortunately, net income actually fell 5%, which says the company is facing some difficulties in the market, and its outlook may not be as positive as the investors want. Thankfully, its shares climbed 4%.
4/ RBNZ: Holds policy rate steady [825 messages in the last 24h]
The New Zealand dollar jumped after the Reserve Bank of New Zealand decided to keep its official cash rate at 2.25%. The bank’s Governor Graeme Wheeler also made it clear that the current economic situation does not require any policy response.
5/ Suzuki Motor Corp: CEO steps down due to scandal [763 messages in the last 24h]
Suzuki is seeing lots of commotion in the wake of its gas mileage scandal, with CEO Osamu Suzuki surrendering his position, albeit remaining as the chariman. Its executive vice president Osamu Honda is retiring and the directors are taking pay cuts as much as 50%. Last month, the company admitted to using questionable methods to test the gas mileage for its vehicles.
6/ E.ON: Demerges to keep up with renewables [680 messages in the last 24h]
The company’s shareholders have voted to split the company to keep up with the government’s Energiewende, which is a campaign to produce 80% of power with renewable sources by 2050. The company will be divided into two firms. One is called Uniper focusing on traditional energy sources such as coal and gas, and E.ON will focus on green energy.
7/ WPP: CEO battles investors for pay packet [436 messages in the last 24h]
34.2% of investors at WPP oppose the £70 million pay packet of CEO Martin Sorrell. The pay packet, approximately 196 times the amount earned by a typical employee at the firm, is deemed reasonable by Sorrell as he reasoned the company was only able to get to where it is today thanks to him. This conflict is the latest one in a series of fatcat pay conflicts in companies such as BP, Weir Group, Anglo American and Shire.
8/ Fujitsu: Announces AI technology consulting service [344 messages in the last 24h]
The Japanese company announced an AI-usage platform utilizing its AI technology to offer a consulting service for design and manufacturing. The platform will support customer manufacturing locations with the implementation of AI technology.
9/ Time Inc.: Partners with Wochit for video creation tools [266 messages in the last 24h]
The New York-based publishing company has entered into a partnership with the cloud-based video creation platform Wochit to increase its video development and production capabilities.
10/ VeriFone Syst Inc: Quarterly miss drags down shares [263 messages in the last 24h]
The company’s shares fell to a 52-week low, down 29.2%, after quarterly results missed the mark. This miss also prompts a cut in full-year outlook of the company. This reflects a negative momentum for the company, and sellers will soon appear to sell their shares of the company while they still can.
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