News

COMMENT

Friday 10 December 2010
The International Accounting Standards Board has announced plans to revolutionise hedge accounting for financial instruments by brushing aside existing rules and introducing a set of core principles instead.
Friday 10 December 2010
SPREAD betting group IG achieved first-half revenues of £157m, up nine per cent on the previous year despite “subdued” trading and difficulties in its Japanese arm, it said yesterday.
Friday 10 December 2010
Adam & Company
Friday 10 December 2010
MULBERRY, the luxury goods group specialising in bags, has reported a surge in profit, thanks to higher sales keeping up prices. The company’s pre-tax profit was £4.7m in the six months to 30 September, compared with £1.5m a year earlier.
Friday 10 December 2010
MOTHER and baby products retailer Mothercare is accelerating its expansion overseas, particularly in India, and has raised its profitability target for international stores.
Friday 10 December 2010
MOSS Bros posted an 8.3 per cent rise in like-for-like sales for the first 18 weeks of the second half as the British menswear retailer’s improved product offering drew in more shoppers.
Friday 10 December 2010
NIGHTCLUB business Luminar yesterday confirmed a £99m injection from banks. The owner of the Oceana and Liquid club brands has signed a three-year loan deal with Lloyds, Barclays and Royal Bank of Scotland.
Friday 10 December 2010
GAMING firm Rank Group said it expects its earning per share to be towards the top end of analysts’ forecasts for 2010, although it added that the outlook for next year remains challenging.
Friday 10 December 2010
PHOTO-ME International, which makes photo booths, said yesterday its profit for the six months to 31 October had risen, helped by lower cost of sales, higher turnover and finance revenue and lower finance cost.
Friday 10 December 2010
PZ Cussons said it was cautious about prospects for the rest of its financial year due to an uncertain consumer outlook, higher commodity costs and high levels of sales in promotions.
Friday 10 December 2010
Christmas savings group Park has reported a jump in savings as a growing number of people are putting money aside for the coming festive season.
Thursday 09 December 2010
LONDON'S FTSE 100 closed above 5,800 today for only the second time in almost a month, pushed up by financial services firms.
Thursday 09 December 2010
Fresh US data has shown more signs of economic recovery, with claims for jobless benefits falling and wholesalers stocking up in anticipation of strong holiday demand.
Thursday 09 December 2010
MASTERCARD is buying the prepaid cash card business of foreign exchange group Travelex for £290m, boosting its presence in a fast-growing financial services segment.
Thursday 09 December 2010
THE FIVE private equity owners of Danish telecoms player TDC will bank up to £2.35bn from the sale of a third of the group through a share buyback and public offering.
Thursday 09 December 2010
THE Bank of England's Monetary Policy Committee has voted to keep interest rates unchanged and make no new quantitative easing purchases in its December monthly meeting.
Thursday 09 December 2010
Britain's goods trade deficit with the rest of the world unexpectedly widened in October after imports rose to their highest on record, raising questions about trade's contribution to future UK growth.
Thursday 09 December 2010
UK house prices have continued to slip, falling by 0.1 per cent in November compared with the same month last year, according to figures from the Halifax.
Thursday 09 December 2010
BAE Systems is to announce cuts of up to 1,350 posts after the Government's defence review and its decision to scrap the Nimrod and Harrier jets.
Thursday 09 December 2010
Music, DVD, games and books retailer HMV posted a worse than expected widening in first-half losses, blaming a sharp fall in sales on weak entertainment markets.
Thursday 09 December 2010
British spread-betting company IG Group said it expected higher first-half revenue and had won market share amid ongoing economic uncertainty which has led to subdued trading volumes.
Thursday 09 December 2010
Mothercare is accelerating its expansion overseas, particularly in India, and has raised its profitability target for international stores.
Thursday 09 December 2010
Standard Chartered that it expects to post record income and profit for this year, helped by falling loan impairments and growth in consumer banking.
Thursday 09 December 2010
LONDON’S pre-eminence as Europe’s leading commodity marketplace is under threat as proposed EU regulatory changes home in on derivatives trading.
Thursday 09 December 2010
SUPPORTERS of the whistle-blowing website Wikileaks brought down several payment processing websites yesterday and threatened to attack other financial services.
Thursday 09 December 2010
ANOTHER day, another regulatory assault on the City from Brussels. The latest version of the Mifid proposals, if implemented, could chase away trading from Europe.
Thursday 09 December 2010
MARKET STRUCTURE - Introduce a new regulatory category of organised trading facility for all trading outside current MiFID categories.
Thursday 09 December 2010
FINANICAL TIMES FRESH WOES FOR DE LA RUE OVER FRENCH OFFER
Thursday 09 December 2010
BRUSSELS may demand that countries impose criminal penalties for breaking some financial rules, in a bid to toughen up regulation across the European Union.
Thursday 09 December 2010
US bond prices fell again yesterday after suffering their fastest sell-off in 18 months, as traders fretted over the effects of President Barack Obama’s move to extend some of George W Bush’s tax cuts.
Thursday 09 December 2010
LONDON-based private equity group Apax Partners has won exclusive talks to buy cleaning giant ISS for up to $8.5bn (£5.3bn), sources close to the companies confirmed yesterday, in what could be the biggest buyout in Europe since the credit crisis.
Thursday 09 December 2010
HUNDREDS of jobs are set to be axed at O2 as the firm completes one of its biggest structural shake-ups in recent years, City A.M. has learned.
Thursday 09 December 2010
LONDON-BASED hedge fund Marshall Wace saw its profit and bonus pool plunge 83 per cent last year, as the firm’s investments reeled from the continuing global financial crisis.
Thursday 09 December 2010
MARTIN Broughton, who oversaw the recent sale of Liverpool Football Club, is putting together a bid to buy the Tote.
Thursday 09 December 2010
McDonald’s reported a smaller-than-expected rise in global sales at established restaurants in November as demand was weaker than anticipated in its key domestic market and Japan.
Thursday 09 December 2010
The Treasury plans to sell about one-fifth of insurer AIG through a stock offering in the first half of 2011, an important test of the governmen’s ability to profitably exit one of its most controversial bailouts.
Thursday 09 December 2010
GEORGE Osborne yesterday revealed he could have tens of billions of pounds to spend on tax cuts or spending projects before the next election.
Thursday 09 December 2010
ALISTAIR Darling, the former chancellor, wasted over £1bn by using the private finance initiative (PFI) to fund a series of vote-winning projects in the run up to the election, according to a report by an influential group of MPs.
Thursday 09 December 2010
A ROW between Capital Shopping Centres (CSC) and one of its biggest shareholders boiled over yesterday over the property firm’s plan to buy the Trafford Centre.
Thursday 09 December 2010
NEW rules that would have significantly reduced the pensions of millions of private sector workers were abolished yesterday after the government backed away from plans to reduce the inflation-proofing of retirement benefits.
Thursday 09 December 2010
ANGLO-AUSTRALIAN miner Rio Tinto and Canada’s Ivanhoe Mines said yesterday they had reached agreement on the joint development of the Oyu Tolgoi copper and gold project in Mongolia.
Thursday 09 December 2010
THE head of Hong Kong’s Securities and Futures Commission (SFC) will leave the job next summer after five years.
Thursday 09 December 2010
THE interest on core Eurozone gilts was showing signs of a spreading crisis of confidence at Europe’s heart yesterday, as German 10-year yields spiked to a seven-month high at three per cent.
Thursday 09 December 2010
THE head of the International Monetary Fund (IMF) Dominique Strauss-Kahn yesterday criticised European countries for reacting too slowly to the debt crisis.
Thursday 09 December 2010
IRISH Prime Minister Brian Cowen looks set to see off opposition from party rebels, barring an unlikely cabinet revolt, and lead his Fianna Fail party into an election drubbing that could halve its parliamentary presence.
Thursday 09 December 2010
US private equity firm JC Flowers said it still wanted to invest in Banca Civica once the Spanish savings bank completes its merger with domestic CajaSol.
Thursday 09 December 2010
NATIONALISED lenders Anglo Irish and Irish Nationwide Building Society will submit a joint restructuring plan to the European Commission proposing they be merged and run down over time.
Thursday 09 December 2010
BANK of Ireland offered to exchange subordinated debt for government guaranteed securities yesterday in a move that could plug around €400m (£335.7m of its €2.2bn capital hole.
Thursday 09 December 2010
CHAIR of the Financial Services Authority (FSA) Lord Turner yesterday called for the British banking system to be subject to a special set of rules and said that directors of banks that had to be bailed out should be banned from serving on the boa
Thursday 09 December 2010
THE legal battle over the collapse of Bernard Madoff’s $50bn (£31bn) Ponzi scheme moved to London last night when liquidators of the fraudster’s empire named all the directors of the London subsidiary in a new lawsuit.

Pages