Stores across the US sell out of iPads as sales continue to surge May 23, 2010 THE roaring success of Apple’s iPad is showing no signs of halting, with 74 per cent of US stores sold out of the gadget. Piper Jaffray analyst Gene Munster found that no stores had the high-end 3G iPad in stock in a survey of 50 branches. He suggests Apple will sell 1.3m iPads this quarter, [...]
BADGERS SET PACE AT CITY RUGBY SEVENS May 23, 2010 AN invitation side comprising fund managers, traders and brokers yesterday won the annual City Sevens rugby tournament in Richmond, sponsored by Neptune Investment Management. The City Badgers beat Apollo Multi-Asset Management in a hard fought final, making it the first time in four years that accounting firm PricewaterhouseCoopers failed to take the top honours. A [...]
BILL OF THE WEEK May 23, 2010 SIX gents have splashed out more than £1,400 in High Holborn’s glamorous Pearl Restaurant. Clearly attending London’s International Wine Fair proved insufficient to quench the group’s thirst. They quaffed a bottle of classic 2000 Dom Perignon from Pearl’s fantastic selection, along with two excellent bottles of wine – a 2005 Chevalier Montrachet Domaine, Jean-Marc Pillot [...]
Cameron and Merkel put on united front May 21, 2010 DAVID Cameron stood shoulder to shoulder with his German counterpart Angela Merkel and pledged that Britain would be a major player in Europe. The Prime minister ruled out any giving over of sovereign powers to Europe, but insisted that he wanted a strong Eurozone. The leaders had been in talks before holding a joint press [...]
UK borrowing up – but beats forecasts May 21, 2010 THE Government borrowed £9.96bn last month – the highest figure on record for April. Last year’s April figure was £8.8bn, the Office for National Statistics (ONS) said. Meanwhile the annual total borrowed by the Government was revised down to £145bn, lower than the £156bn forecast. The figure is equivalent to 10.4 per cent of GDP. [...]
LSE profit up despite revenue dip May 21, 2010 THE London Stock Exchange has ended up in profit for the year despite a drop in revenue. It recorded a net profit of £90.4m – compared with a loss of £338m last year. Meanwhile revenue for the year to the end of March fell 6.4 per cent to £628m. LSE lost market share to rivals [...]
Senate approves Wall Street shake-up bill May 21, 2010 The US Senate has passed a historic bill to shake-up financial regulations. The bill – which passed by 59 to 39 votes – creates new mechanisms for identifying financial risk. President Obama said Americans would never again pay “for Wall Street’s mistakes”. There will be further votes before the bill becomes law. However, the vote [...]
BA in record £531m loss as new strike looms May 21, 2010 BRITISH Airways has reported a record annual loss of £531m. Lower passenger numbers and the impact of strike action contributed to the bleak figures. The results – the worst since BA was privatized in 1987 – were issued as BA faces 15 more days of strike action by cabin crew after the High Court overturned [...]
Markets face huge annual losses May 20, 2010 STOCK MARKETS worldwide plunged for the third consecutive day yesterday amid growing fears that the European chaos could lead to a financial collapse on the scale of the 2008 banking crisis. The FTSE 100 flirted briefly with the 5,000 point mark, eventually finishing the day down 1.7 per cent at 5073.13, while the French CAC [...]
…AS MERKEL BASHES BANKS May 20, 2010 ANGELA Merkel yesterday made an impassioned plea for a “signal of strength” from world leaders and insisted that the time had come to agree on tougher regulations for banks and financial markets. Speaking in Berlin, ahead of today’s EU talks on measures to shore up the plunging euro, the german chancellor promised to campaign for [...]