Samsung sees profits up and demand hike April 6, 2010 ELECTRONICS giant Samsung is predicting a surge in flat screen television sales as consumers recover their appetite for spending this year. The world’s largest semiconducter and flat-screen TV maker, which has forecast a record first-quarter profit of 4.3 trillion won (£2.52bn) and sales of 34 trillion won, predicts it will improve its figures in the [...]
Thumbs up to all-day pubs, but not Lynx effect April 6, 2010 During the last month, here at YouGov, we have invited our panellists to give their opinions on anything they like, using our new “tygga” service. The aim is to let panellists use their own words when describing any brand or topic, rather than just asking them to self-prescribe as “satisfied” or “dissatisfied” customers of the [...]
CITY MOVES | WHO’S SWITCHING JOBS April 6, 2010 FinnCap The broker and corporate adviser has appointed retail analyst David Stoddart (pictured) and corporate financier Sarah Wharry to its team. Stoddart is one of the best-known retail analysts in the City, having covered the sector for over 20 years. He joins from Altium Securities and has also worked at Landsbanki, Henderson Crosthwaite Securities and [...]
BEST OF THE BROKERS April 6, 2010 ALLIANZ Execution Noble has upgraded its recommendation on Allianz to a “hold” because it feels the insurer is fairly valued. But Execution Noble said the insurer’s new operating profit guidance for 2010 is hardly inspiring relative to peers. Execution Noble remain cautious over the outlook of Allianz’s property and casualty business. BAYER RBS Equity Research [...]
HSBC aims for $100m with hedge fund April 6, 2010 HSBC Global Asset Management is aiming to raise $100m (£66m) from high street investors and institutional clients for the launch of a hedge fund focusing on emerging markets. The firm will put $20m seed money into the GIF GEM Equity Alpha fund, which will use long and short positions to generate returns with low correlation [...]
Russian egg giant plans London IPO April 6, 2010 UKRAINE’S biggest egg producer Avangard is planning a stock-market float in London. The IPO would be the first from the Commonwealth of Independent States (CIS) in the capital this year. The company has not revealed how much it hopes to raise. If the IPO goes ahead, it will be the first London listing by a [...]
Shell to sell operations in Finland April 6, 2010 ROYAL Dutch Shell has confirmed it is planning to sell its operations in Finland, as it looks to focus its operations on bigger markets. The company said in a statement: “We believe that the possible selling of our Finnish operations is an attractive opportunity to investors.” Shell is also selling its Swedish assets, as part [...]
Australia raises interest rates April 6, 2010 AUSTRALIA’S central bank has raised interest rates to 4.25 per cent from four per cent as it attempts to slow inflation and rises in house prices. The move is the fifth rate rise since October, and the bank has indicated there are further increases to come. Glenn Stevens, the Governor of the central bank, said: [...]
50p tax rate on high earners is triggered April 6, 2010 A NEW 50p tax rate for top earners has been triggered as the new financial year begins. The new income tax rate on taxable incomes above a £150,000 has been attacked by business leaders who claim it will dent business confidence and stifle entrepreneurial spirit, The Institute of Directors also warned that foreign investors could [...]
Northgate chief Smith steps down April 6, 2010 NORTHGATE chief executive Steve Smith will step down after 23 years at the van hire company. Smith had agreed to stay on as chief beyond his original retirement date of 1 August last year because of the trading conditions last summer and the group’s debt refinancing, a placing and rights issue. Paul Tallentire, deputy chief [...]