Pepsi pops, Coke fizzles in Q2

July 24, 2014

The two giants of the beverage empire reported earnings this week, with PepsiCo outperforming estimates and Coca-Cola missing them.

Facebook leaves niche competitors behind

July 23, 2014

These are good times for Facebook. The social media site reported second quarter earnings of $0.42 per share and revenue of $2.91 billion on Wednesday afternoon. Analysts polled by Thomson Reuters expected $0.32 in earnings per share and revenue of $2.8 billion. The company’s stock is up just under 1% in after hours trading. Reuters’ Stephen Culp charts Facebook’s share price relative to the S&P 500 and five of its competitors. The comparison is striking and decidedly in Facebook’s favor.

Inflation inches up

July 22, 2014

The latest inflation numbers are out. According to the Bureau of Labor Statistics, the consumer price index rose 0.3 percent in June, following a 0.4 percent rise in May, mostly thanks to high gasoline prices. However, core CPI — which ignores volatile food and gas prices — was only 0.1 percent. CPI year-over-year, which is the number commonly referred to when talking about inflation, now sits at 2.1 percent (1.9 percent without food and gas).

China’s housing problem

July 21, 2014

The Chinese housing has been in rough shape for more than a year. Quartz’s Gwynn Guilford charts the latest set of bad numbers. It’s not an out of control crash just yet – prices are still rising on a yearly basis – but the boom of the last decade is certainly over.

Charting the U.S.’s child immigrant crisis

July 18, 2014

The US has a child immigrant crisis. The number of unaccompanied minors sneaking across the border has soared in the last year. From Reuters:

The path of Malaysia Air Flight 17

July 17, 2014

At 14:15 GMT (10:15 A.M. EST) on Thursday, Malaysia Airlines received notification that Ukrainian air traffic control had lost contact with Malaysia Air Flight 17. MH17 was flying from Amsterdam to Kuala Lumpur. Reuters reports that the plan disappeared while flying at 33,000 feet above the conflict-torn territory.

Ebola’s fatal toll

July 16, 2014

The latest outbreak of the deadly Ebola virus is getting even worse. The death toll from the worst ever outbreak in West Africa has risen to 603 since February, with at least 68 deaths reported from three countries in the region in the last week alone, the World Health Organization (WHO) said on Tuesday. Hardest hit: Guinea, Liberia and Sierra Leone. The graphic below shows the illness’s fatal swath since 1976, with Sierra Leone currently recording the highest number of deaths: 52. Liberia reported 13 and Guinea 3, according to the WHO figures.

House of BRICS

July 15, 2014

The BRICS nations are holding their annual summit this week in Fortaleza, Brazil, and the biggest item on the agenda is the creation of a joint development bank. While all five BRICS countries have pledged to contribute to the $100 billion development bank as well as a reserves fund, China and India are both gunning to be the nation that hosts the institution. Indian trade minister Nirmala Sitharaman made a strong push for his country, saying, “Any city in India has its natural advantages, English-speaking, very skilled manpower, and…India is very centrally located.” Still, there’s no doubt that one country is the real economic powerhouse in BRICS: China.

Citigroup settles

July 14, 2014

Citigroup reported earnings today — coincidentally the same day the Justice Department announced a $7 billion settlement with the bank over crisis-era mortgage securities. Its quarterly earnings fell 96 percent to $181 million and its return on equity was a mere 0.2 percent — mostly due to the aforementioned fines. However, the numbers are nonetheless stronger than expected, largely because of a strong quarter in its fixed income business.

A Cynking ship

July 11, 2014

This is a chart of the share price and trading volume of Cynk, a technology company that was listed at $0.05 per share in May. Its $13.90 share price today makes it worth about $4 billion on paper (it was, at one point, up to $6 billion, but has since dropped). It has never had any revenues and no one is quite sure what it does.