Skip to content
Protests and unrest that have disrupted Hong Kong for over four months are weighing on the results of major hotel operators and spirits makers as fewer tourists are visiting the city.InterContinental Hotels Group (IHG), the operator of the Crowne Plaza and InterContinental hotels in Hong Kong, both reported this week declines in revenue per available room in their Asia-Pacific operations in the third quarter, citing in part the unrest in Hong Kong.Remy Cointreau, the maker of Remy Martin cognac and Mount Gay rum, separately said on Friday that a fall in tourism in Hong Kong cut into its sales in the company's fiscal first half ended in September. Organic sales fell 4 per cent in the period from July to September, after falling 3 per cent in the April to June quarter, the French spirits maker said.Cognac sales from its Remy Martin brands "suffered from the fall in tourism in Hong...
Crude prices have leveled off on Friday. Crude took advantage of dollar weakness on Thursday, climbing 2.0 percent....
Altria (NYSE:MO) stock again finds itself hurt by negative headlines. The controversy over its vaping product, Juul, has led investors to dump MO stock. As a result, it now trades close to its 52-week lows.Source: Kristi Blokhin / Shutterstock.com However, as a result of the concerns surrounding Juul, Altria stock trades at a relative discount and now gives investors an unusually high payout near 7.75%. More importantly, the trading history of MO indicates that Altria stock could profit investors hugely at these levels. MO Stock has Long Prospered Amid Negative PublicityDespite the negative specter that has hung over tobacco stocks since for the 1960s, Altria stock tends to generate profits and generous dividends year after year with little fanfare. However, the negative publicity has returned in recent weeks. Its investment in Juul has come under fire as medical experts have linked vaping products to multiple hospital visits and a few deaths.InvestorPlace...
(Bloomberg) -- Russia plans to pay more attention to the impact climate change is having on its vast permafrost area.Thawing of once permanently frozen ground covering more than half of Russia is putting buildings, pipelines and other infrastructure at risk of damage. With the Arctic warming twice as fast as the rest of the world, that’s a big problem. The economic loss is 50 billion to 150 billion rubles ($2.3 billion) a year, said Alexander Krutikov, deputy minister for the Far East and Arctic development.“This problem needs to be addressed, because the amount of damage will grow every year,” Krutikov said in an interview. “The scale is very serious. The pipes explode, the piles collapse.”Krutikov’s comments are another sign that Russia, the world’s fourth-biggest emitter, is taking the effects of climate change more seriously. For most of his time in power, President Vladimir Putin has challenged the widely held assertion that...
Silver prices are steady on Friday, as the white metal continues to hover to close to $17.50....
Cathay Pacific Airways Ltd has shelved plans for its first U.S. dollar debt deal in 23 years, the airline said on Friday, after sources told Reuters that global investors had baulked at the pricing due to civil unrest in Hong Kong. Cathay had started meeting investors in Hong Kong and Singapore on Sept. 24 after it mandated four banks to explore carrying out a U.S. dollar denominated bond, according to a term sheet issued at the time, seen by Reuters. It would have been the first U.S. dollar debt deal for Cathay since 1996 and had been touted as a landmark transaction for the airline given all of its debt is denominated in Hong Kong dollars....
The Australian and NZ dollars have steadied on Friday, after impressive gains of 1.0% on Thursday. Chinese GDP missed its estimate, but the yuan is holding its own against the U.S. dollar....
