MADRID, SPAIN - JULY 22: Spanish acting Prime Minister Pedro Sanchez speaks during the investiture debate at the Spanish Parliament on July 22, 2019.Pablo Blazquez Dominguez | Getty Images News | Getty ImagesPolitical infighting in Spain could soon lead to another election, which would be its third in three years, raising questions on whether instability has become the new normal for the southern European nation.
Prime Minister Pedro Sanchez won a snap election in April, but has since struggled to find a working majority that will allow him to govern. Negotiations between Sanchez, leader of the Socialist party, and the leftist Podemos party broke down last week. This was after Sanchez refused to give the Podemos leader Pablo Iglesias a place in his next cabinet. If Sanchez now fails to win enough support in some upcoming confidence votes, fresh elections could take place in the fall.
VIDEO7:0507:05Why is Spain so unstable?CNBC Explains "Chronic political instability in Spain is indeed ..
VIDEO4:1704:17Harley's international business looks concerning, says analystSquawk BoxSales of Harley-Davidson's signature motorcycles continued to slide during the second quarter as profit, though better than expected, eroded 19% for the struggling manufacturer.
The company also told investors Tuesday it expects fewer sales in 2019 than previously forecast. Its fix to avoid tariffs on motorcycles shipped from the U.S. to the European Union is taking longer than expected, it said in releasing its second-quarter earnings results before the markets opened. Its shares dropped 2.1% in premarket trading.
Here's how the company did compared with what Wall Street expected:
EPS of $1.23, versus, Refinitiv estimates of $1.20.Revenue of $1.43 billion, versus Refinitiv estimates of $1.44.The company reported $195.6 million in net income during the second quarter, versus net income of $242.3 million during the same quarter last year.
Sales of motorcycles, parts and merchandise fell ..
International Monetary Fund (IMF) managing director Christine Lagarde speaks during a press conference in Tokyo on October 4, 2018.Kazuhiro Nogi | AFP | Getty ImagesEuropean officials are still scratching their heads over ChristineLagarde's successor at the International Monetary Fund (IMF), according to several people with knowledge of the discussions, with no standout candidate for the role.
Lagarde is due to start her new job as president of the European Central Bank (ECB) in November, leaving the IMF's chair empty. In Europe, EU member states agree that the next IMF managing director needs to be from the continent — but they're struggling to rally behind one particular name.
"The truth is that there is no readily available tried and tested European all-rounder," a European minister, who did not want to be named due to the sensitive nature of the talks, told CNBC.
There is no official shortlist of candidates, but many governments of EU nations have put forward a name..
What will Boris Johnson’s Brexit strategy be?Open Europe's Henry Newman discusses the challenges facing the new UK Prime Minister, Boris Johnson, on BBC News on 23 July.
The post What will Boris Johnson’s Brexit strategy be? appeared first on Open Europe.
23 July 2019 Conservative Party leadership result to be announced today The result of the Conservative Party’s leadership election will be announced just before noon today, following the close of voting last night. Around 160,000 members of the Conservative Party were eligible to vote in the membership round of the contest between the Foreign Secretary and MP for South West Surrey, Jeremy Hunt, and the former Foreign Secretary and MP for Uxbridge and South Ruislip, Boris Johnson. The new leader of the party is expected to make a short speech after the result is announced. He will form a new administration tomorrow afternoon after Theresa May leaves Downing Street and formally tenders her resignation as Prime Minister to the Queen.
Commenting on the possibility of a Johnson victory, Open Europe’s Director Henry Newman told BBC Radio 4’s PM last night that Johnson “is going to have one of the shortest honeymoons of any recent political leader, where he is going to have to get the wh..
New Delhi: Local search platform Just Dial on Monday said its consolidated net profit increased 48.6 per cent to Rs 57.29 crore in June 2019 quarter.
The company had reported a net profit of Rs 38.54 crore in the year-ago period, it said in a regulatory filing.
Revenue from operations grew 13.5 per cent to Rs 240.1 crore in the quarter under review from Rs 211.4 crore in the same period previous year, it added.
The company said its traffic (quarterly unique visitors) grew 24.6 per cent year-on-year in the first quarter of 2019-20 to 156.1 million users.
Mobile traffic (quarterly unique visitors) grew 35.5 per cent year-on-year to 125.1 million users in the quarter under review.
The cash and investments stood at Rs 1,397.1 crore as on June 30, 2019.
Mumbai: Analysts expect Zee Entertainment Enterprises to post profit growth of around 12.2-17.6 per cent on Tuesday, on the back of modest growth in ad revenues.
Investors will focus on promoter stake sale, and cash generation by the company.
Kotak Institutional Equities expects Zee to post a 16. 1 per cent rise in adjusted profits on the back of 12.3 per cent rise in net sales.
Kotak said it expects 7 per cent growth in advertisement revenues due to broad-based weakness in ad spend environment in line with the slowdown in the consumption space, sharp 85-90 per cent drop in viewership (and corresponding drop in advertising) of Zee Anmol and Zee Anmol Cinema post withdrawal from the DD Freedish platform.
Kotak expects strong 25 per cent growth in domestic subscription revenue driven by benefits of implementation of TRAI's tariff order.
“We expect EBITDA margin to be broadly flat on as headwinds on advertising front would be partly offset by subscription tailwinds,” Kotak analy..
NEW DELHI: Hindustan Unilever (HUL) may clock 9-10 per cent growth in June quarter profit despite a slight moderation in volumes, thanks to price hikes across categories.
The largest consumer goods company will announce its results on Tuesday.
IIFL Institutional Equities expect the FMCG major to report a 6 per cent volume growth, a slight moderation from the 7 per cent volume growth recorded in the previous quarter.
The company had highlighted weakness in rural markets, owing to liquidity issues in the channel, towards the second half of Q4FY19 and analysts feel there would some lingering effects in June quarter numbers.
"Our channel checks give us a sense that the company has initiated price hikes across categories (such as detergents, coffee), among others. We therefore estimate a sales growth of 9 per cent, similar to the previous quarter level. We expect the slight contraction in gross margin to be offset by leverage in ad-spends and other expenses. Overall Ebitda and PAT are e..
Engineering and construction major Larsen and Toubro (L&T) is expected to report more than 30 per cent year-on-year (YoY) rise in profit for the quarter ended June 30.
On Monday, shares of L&T settled 0.56 per cent down at Rs 1,403.80 ahead of its financial results, which are scheduled to be announced on July 23.
Centrum Institutional Research sees 35.30 per cent jump in adjusted profit on 15.40 per cent rise in revenue. The brokerage house also estimated 19.20 per cent rise in Ebitda.
An assessment by Kotak Institutional Equities projected a profit growth of 41.30 per cent on 10 per cent rise in net sales and 20.30 per cent increase in Ebitda.
The brokerage house expects 10 per cent growth in core EPC execution in Q1FY20 driven by infrastructure segment, defense engineering, and heavy engineering. “Power, E&A and others segments would drag down revenue growth,” Kotak said in a report.
Prabhudas Lilladher, which projected 23.20 per cent rise in adjusted profit, said: “We expect or..