Business & Finance articles

Nama to sell €4bn Northern Irish property loans portfolio

Ireland’s bad bank, the National Asset Management Agency, is trying to sell its entire €4bn Northern Irish property portfolio, nicknamed Project Eagle. The Irish bad bank has appointed financial advisory group Lazard to seek buyers for its commercial property and development land assets in Northern Ireland. It is likely to consider a substantial discount of

Detroit draws first map to get out of bankruptcy

DETROIT (AP) — Detroit presented its first full road map for leaving bankruptcy Friday, outlining an elaborate plan to restructure $18 billion in debt, demolish thousands of blighted homes and invest in the broken-down infrastructure that has made the city a symbol of urban decay. If approved by a judge, the wide-ranging proposal would sharply

S&P 500 may stall near high; Yellen in focus

NEW YORK (Reuters) – After the S&P 500 slipped on Friday and broke a two-week rally, stocks may find tougher sledding in the coming week as investors may be unwilling to push the benchmark index to a record high. The Standard & Poor’s 500 (^GSPC) has risen 3 percent over the past three weeks, as

Why Wal-Mart Needs to Build Much Smaller Stores

“Walmart has a long history of embracing change. And this year, we’ll certainly make some changes to improve our business. These changes will be made with a filter on increasing customer relevance.” That was how Doug McMillon, Wal-Mart Stores’ (WMT) new chief executive officer, introduced his plans for 2014 in a prerecorded call (PDF) on

The Lurking Threat of Deflation

Twenty years ago, flat or slow growth in emerging-market economies would have made only a small dent in the expansion of the world’s gross domestic product. But now developing nations make up 40 percent of global GDP. For these countries, the coming year looks like a period of weak growth because of lower prices for

The Markets Go Mad for Obamacare

Although President Obama signed the Affordable Care Act into law almost four years ago, much of Washington still treats the fate of his signature legislation as an open question. Last fall’s government shutdown was a Republican attempt to stop the law before federal exchanges began signing up customers. Even as the number of enrollees climbs

Consumer prices tick up just 0.1%

WASHINGTON — U.S. consumer prices barely rose last month as a sharp rise in energy costs was offset by cheaper clothing, cars and air fares. The figures suggest inflation remains mild. The Labor Department says the consumer price index rose just 0.1% in January, down from 0.2% in December. Prices have risen 1.6% in the

Walmart fourth-quarter earnings show challenges

This winter’s wrath put a chill on Walmart’s sales in the fourth quarter, leading to profit of $4.4 billion, a 21% drop, the company said Thursday. Walmart’s earnings per share were $1.34, down from $1.67 in the same quarter last year. For fiscal 2014, the company reported EPS of $4.85, a 2.0% increase over fiscal

Latest sign of China slowing spooks investors

Thursday 12:30 GMT. The sour scenario of less Federal Reserve stimulus alongside waning Chinese growth is hurting global risk appetite, pushing stocks and industrial commodities lower while nudging funds into perceived havens such as the yen and Treasuries. The FTSE Eurofirst 300 equity index is enduring a 0.7 per cent loss following a 1.2 per