Toyota braced for sales hit from accelerator-related car recalls February 2, 2010 Toyota’s unprecedented recall of millions of vehicles with accelerator problems is taking a toll on sales and may force the world’s largest automaker to cut 2010 sales forecasts. In the first public comment from an executive at Toyota’s head office, the company’s executive in charge of quality said yesterday he was expecting a sales hit [...]
Ireland delegates rescue tasks February 2, 2010 Ireland’s finance minister Brian Lenihan yesterday announced plans to delegate additional functions to the agency that oversees Ireland’s debt issuance and its new “bad bank” scheme. The main functions which will be delegated from the finance ministry include discussions on the banks’ capital needs, on restructuring and management of the government’s shareholding in the credit [...]
What do industry insiders make of the record breaking net retail fund sales announced yesterday? February 2, 2010 John Yule | Fund Manager, F&C It’s great to see an influx of money into all sectors. A lot of this has been driven by IFAs, which is very good news for the industry. The growth in absolute return funds has interested me – it’s encouraging to see a new asset class performing well. It [...]
News Corp sees profits surge as ad market recovery boosts paper sales February 2, 2010 MEDIA conglomerate News Corp posted better-than-expected quarterly results yesterday thanks to a recovery in local advertising sales and the blockbuster 3-D movie “Avatar,” sending its shares up 3.5 per cent. News Corp, which also raised its dividend by 25 per cent, said fiscal second-quarter net income was $254m (£158.9m), or 10 cents a share. That [...]
Job market recovery will gather pace during year February 2, 2010 RECRUITMENT consultancies have signalled further growth in the number of staff appointments in January, as the UK job market continued its return to health. According to the latest Recruitment and Employment Confederation and KPMG report on jobs, published yesterday, the growth of permanent placements eased from December’s peak but remained strong. Temporary or contract staff [...]
Upbeat Imps Tobacco beats the recession February 2, 2010 Imperial Tobacco, the world’s fourth-biggest cigarette maker, said yesterday it had made a good start to its new financial year with trading in line with its forecasts despite weak economies. Imperial, with cigarette brands including Lambert & Butler, West and Gauloises, was reporting on its first-quarter trading from October to December 2009 within its current [...]
Babcock sees strong trading February 2, 2010 ENGINEER Babcock International said yesterday third-quarter trade had been strong, driven by robust performances at its marine and defence units, and that it was confident on its full-year prospects. Babcock, which operates ship-building and nuclear power programmes, said it expected to take advantage of further outsourcing opportunities in 2010 as pressure on public spending continues [...]
Dairy Crest creams profit after a promotions spree February 2, 2010 DAIRY CREST has announced strong trading for the nine months to the end of December, buoyed by its performance in the run-up to Christmas. Pre-tax profit was slightly ahead of analysts’ expectations, but the maker of Cathedral City cheese and Clover spreads remains cautious about the year ahead. “The trading environment for 2010 is tough for [...]
Killik & Co February 2, 2010 We believe the stock is attractively valued in absolute terms, relative to the market and relative to other defensive companies. The shares offer a prospective yield of 4.5 per cent, which is expected to grow in excess of 10 per cent a year over the next two years. We would continue to buy the shares.
Evolution Securities February 2, 2010 Trading is in line with estimates. UK and French market volumes are both up with Imperial Tobacco holding or increasing share. It is also increasing in almost all territories except for Germany and Spain. It offers great value. We have a ‘buy’ recommendation.