Aug 10
26
US chains beef up meals to lift profits
International Market Report 26th August 2010
The Nikkei edged up 0.3% or 27.13 points to 8,872.52. The Topix was flat at 807.61. The Dow finished 19 points higher at 10,060. The Nasdaq added 17 points at 2,141. The S&P 500 gained 3 points to reach 1,055.
In the US Fast-food chains are rolling out more expensive premium products after two years of relentless focus on lower priced meals, this is in the hope of recouping profit margins surrendered during the recession of 2008 /2009. According to people close to the situation, Dubai World has informed lenders that it could raise up to $19.4bn from selling its assets, in a bid to repay $14.4bn of the holding company’s debt. In late July, the company set out its debt restructuring plan and included a time frame over which it would consider selling assets to raise funds to repay lenders. On Wednesday, top auto makers said, that Russia’s car market is rebounding faster than expected, buoyed by a return of cheap credit and a successful government scrappage scheme. For the first time in 7 months of the year, car sales in the country are up 9% compared to the same period in 2009.
Due for release today is the AUD Private Capital Expenditure q/q and the USD Unemployment Claims.
