Bill Gates by wolfgang.wedenig - wuschL via Flickr
Software giant tops analysts’ expectation, nudging late-traded shares higher.
“Its fiscal first-quarter net income rose to $5.4 billion, or 62 cents a share, from $3.6 billion, or 40 cents a share in the same period last year.”
Brief update from MarketWatch.
Thought I’d redistribute this splendid chart [via The Big Picture] - created by Visualizing Economics.
click for larger graphic
The Guardian reports that unions reacted angrily to the report today. "Don't they know that this is meant to be austerity Britain?" said TUC general secretary Brendan Barber. Image via Wikipedia
Despite UK facing year of austerity, average pay of FTSE 100 chief executives rises to £4.9m.
“FTSE 100 directors saw their total earnings soar in the 12 months to June, thanks to sharp rises in bonuses and performance-related pay. The average FTSE 100 chief executive now earns £4.9m a year, or almost 200 times the average wage.”
The Guardian has more.
Image via Wikipedia
According to a new study, oil and gas explorer Soco is the most productive company in the UK.
“Companies that can demonstrate a performance-driven culture, with effective managers who encourage innovation will generally achieve higher productivity, as measured by revenue per full time employee.”
| Most productive company | Revenue per full time employee |
|---|---|
| Soco International | £6.1m |
| St James’s Place | £5m |
| Legal & General Group | £4.7m |
| Dana Petroleum | £3.6m |
| Anglo Pacific Group | £2.9m |
| Intermediate Capital Group | £2.2m |
| BP | £2m |
| Standard Life | £1.8m |
| Royal Dutch Shell | £1.8m |
| Prudential | £1.8m |
Source: Profiles International
Oil Rig via Wikipedia
“Exxon Mobil Corp., the world’s biggest company, posted its largest third-quarter profit increase in six years as rising worldwide energy demand lifted commodity prices.”
Full report recap from Bloomberg here.
Related:
Hot Stocks: Big oil heats up energy sector & Royal Dutch Shell’s profit surges via MarketWatch.
Explorer, Marco Polo via Wikipedia
“The streets are paved with gold; there’s paradise on earth.” So said Marco Polo after he visited China seven centuries ago and came away awed by a land enjoying prosperity. The explosion of wealth is apparent in the new Forbes China Rich List; suggesting that the nation is once again enjoying another golden age. “
“What would Milton Friedman, the University of Chicago champion of monetary discipline, do now? What would he say—reversing the charges when he returned a reporter’s call, as he always did—if asked about Federal Reserve Chairman Ben Bernanke’s imminent move to print hundreds of billions of dollars to buy more U.S. Treasury bonds to put more money into the economy?”
Still wondering? David Wessel of The Wall Street Journal shares his thoughts here: Channeling Milton Friedman.
WSJ Markets
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