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Business News Archives for 2013-12



There are two trading days left in 2013 and little market news expected. So it will be up to light volume and the few traders left at home to move the markets.  It has been a good year for equities with the S&P 500 up 29%. (Fox Business News)
 
Wheat farmers are harvesting a record crop for the 4th time in 6 years adding to a global grain glut and reducing prices to restaurants and bread makers.  Production will be up almost 8% in 2013.  Cereal costs tracked by the United Nations fell 24% in the last year, more than any food group.  The world’s largest wheat exporters in order are the US, Canada, Australia and Russia. (Bloomberg)
 
Why are the airlines in love with those bag fees?  They are the big reason for record profits in 2013.  In 2010 those ancillary fees made up 4.2% of airline revenue.  In 2013 that will rise to 6% of revenue.  Without these fees the airlines would be losing money.  (Reuters)
 
Darden Restaurants, owners of the Olive Garden, are making some changes.  After seeing profits fall 41% last quarter the company is spinning off Red Lobster from its other faster growing properties including the Olive Garden.  (Seeking Alpha)
 
Christmas is over but tree growers are counting their money.  Oregon produced the most trees with 6.4 million trees sold.  About 45% of Oregon trees go to California, 13% stay in state and 10% go to Mexico.  (OregonLive)
 

Business News


Inflation at the manufacturing level was down 0.1% in November.  Producer price inflation is running at 0.7% for the last 12 months. (Department of Commerce)

Home Depot, the nation’s largest home improvement retailer, expects they will meet their goal of a12% profit margin by the start of 2015, a year earlier than expected. (Bloomberg)

Medford based Lithia Motors, the nation’s ninth largest auto retailer as acquired its 94th dealership buying Diablo Subaru of Walnut Creek California.  The company has made six acquisitions this year and sells 28 brands in 11 states.  Their sales will be about $4.3 billion in 2013. (Portland Business Journal)

Join us Saturday at 10 for Financial Focus Radio when we talk to former Lehman Brothers trader Larry McDonald.

Domestic oil production is at its highest level since October 1988.  Domestic production is up 18% over the last twelve months. Imported oil will dip to 28% of domestic demand the lowest since 1985 and down from a peak of 60% in 2005. (Bloomberg)
 

Business News


Small business felt a little better about the future in November according to the National Federation of Independent Businesses Optimism Index.  Hiring was up for the month but small business is still employing fewer workers than during the peak experienced in 2007. 

 

The price of raw sugar is in a 15 month slump as a supply glut grips the globe.  The oversupply may not end soon as the world’s three top producers, Brazil, India and Thailand, look to increase production 10% in 2014. The price of raw sugar has fallen for the last 10 trading sessions on the news. (Bloomberg)

 

Online shopping is up about 17.5% this holiday season compared to last year.  Mobile devices, pads and phones, made up 29% of all online shopping.  United Parcel Service picked up about 32 million packages on Cyber Monday, about a million more than last year.  (Associated Press)

 

That glass of orange juice you are drinking for breakfast may be getting more expensive.  The cold weather we have endured lately made its way to the orange growing regions of California.  It is harvest season and the cold may have damaged the remaining 80% of mandarin oranges and 75% of navel oranges that remain to be harvested. (Reuters)

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