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Economy & Finances

Boeing to release second-quarter results on July 24


Chairman, President and Chief Executive Officer Jim McNerney and Executive Vice President and Chief Financial Officer Greg Smith will discuss the results and company outlook during a conference that day at 10:30 a.m. Eastern Time. Visit to access a link to the live broadcast of the conference. A Boeing news release will also be available on that site. Individuals should check the website prior to the session to ensure their computers can access the audio stream and slide presentation. Instru... Read More »

POSPartner supports Yapital at the Point of Sale


A few weeks prior to the launch of its first European cross-channel payment system, Yapital announced that it will also be collaborating with POS systems company POSPartner to integrate the new payment solution at the point of sale. The innovative software provider, based in Königswinter, has been a valued partner, providing specialist solutions to medium-sized and large retailers for two decades. The expertise and excellent customer structure of the owner-managed company will enable Yapital, a wholly owned subsidiary of the Otto Group, to intr... Read More »

Rabobank: Global demand orange juice declines; Brazilian market hit with consequences for pricing


Andres Padilla, Rabobank analyst commented: “The Brazilian orange juice sector is heavily dependent on exports, with the country accounting for 80 percent of all the global export market. This makes it especially vulnerable to changing demand in the key export markets of Europe and North America, which are currently witnessing a consumer shift towards less expensive drinks with lower sugar and acidity content. "This shrinking global demand combined with large Brazilian orange crops in 2011 and 2012 has led to record high stocks of frozen conce... Read More »

Inflation up to 2.8 percent


According to the most recent figures released by Statistics Netherlands, the inflation rate has risen to 2.8 percent in May. In April, consumer prices were on average 2.6 percent up from one year previously. The inflation increase was predominantly due to higher petrol prices. Although petrol prices were 1.9 percent lower in May 2013 than in May 2012, the price drop in April was no less than 3.7 percent on an annual basis. Food and holiday prices also had an upward effect on inflation in May. Due to the cold weather conditions in spring, pr... Read More »

Rabobank: Bottom in sight for housing market


In February and March of this year, the prices of existing owner-occupied homes rose by 2.1 and 0.1% respectively compared to the preceding month. But those growth figures were not sufficient to offset the decrease seen in January (-2.9%). Averaged across the first quarter, the prices of existing owner-occupied properties (PBK Price Index of Existing Houses) fell 2.3% overall com­pared to the previous quarter. The start of the second quarter of 2013 has been less promising: prices declined by 1.4% in April compared to March. This makes for a 19... Read More »

ING announces exercise of underwriters’ option to acquire additional shares in ING U.S.


The gross proceeds to ING Group from the exercise of the option will be approximately USD 191 million (approximately EUR 148 million at current exchange rates), bringing the total gross proceeds to ING Group from the IPO of ING U.S. to approximately USD 0.9 billion. As previously announced, ING Group intends to use these proceeds for the reduction of Group core debt. ING U.S. shares started trading on the New York Stock Exchange on 2 May 2013, under the ticker symbol “VOYA”. The exercise of the option will not impact the profit and loss accoun... Read More »

Rise of the ‘Hybrid Consumer’ to polarise the food sector


Marc Kennis, Senior Analyst, Rabobank Food & Agribusiness Research and Advisory, commented: “The implications of this market trend are profound and touch on areas such as product offerings, distribution channels, marketing and brand management. Given the driving forces of hybrid consumption, i.e. women’s increasing role in household spending and the growing importance of Millennials (generations Y and Z), we believe that hybrid consumption is a long lasting phenomenon. Therefore food processors, food retailers and food service companies ali... Read More »

Tata Power installs rooftop rainwater harvesting system in Jamshedpur


In continuation with this philosophy, Tata Power’s Jojobera team installed a rainwater harvesting structure in the nearby Bina-Pani School of Dhanchatani area in Jamshedpur to address the pressing issue of scarcity of water. The ground water table has slowly receded in the area causing hand pumps, wells and other water bodies to dry up which gets severe during summer. It also prevents more than 275 students from attending school. Thus, the project has been specifically designed to address these issues. The school administration, students and ... Read More »

ExxonMobil Contributes to Tornado Recovery and Relief Efforts


"We extend our heartfelt sympathies to all who have been impacted by the devastating tornadoes," said Rex W. Tillerson, chairman and chief executive officer. “It is our hope that our donation to the Red Cross will help in this very difficult time.” ExxonMobil’s donation is being directed to the American Red Cross Disaster Relief Fund, which provides food, shelter, counseling and other assistance to the victims of this disaster and thousands of other disasters across the country each year.  ExxonMobil’s subsidiary, XTO Energy Inc., has a signi... Read More »

Wessanen acquires France Alter Eco, the leading French brand in fair-trade food products


France Alter Eco is engaged in organic and fair trade products such as chocolate, coffee, tea and juices.  Under its brand Alter Eco around hundred products are marketed in the grocery, independent stores and out-of-home channels. It has developed strong partnerships with farmers' cooperatives, based on fair trade and respect for human rights and environment. The acquisition does not include France Alter Eco's activities in North America. The company is based in Paris and generated revenue of € 16.5 million in 2012. From its foundation in 19... Read More »

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