Mandelson hints at Blair for EU November 5, 2009 Business minister Lord Mandelson is today expected to call for strong leadership of the European Union and outline his vision for revamping its economic policies. Although Mandelson will not name Tony Blair in the speech, his comments could be seen as an attempt to revive the former British prime minister's chances of becoming the EU’s [...]
STAR QUALITY November 5, 2009 STARBUCKS raised its financial forecasts for 2010 in the latest sign a year-long turnaround effort is boosting margins and putting it back on track for growth. The coffee company, which has been slashing outlets, laying people off and reducing costs, raised its target for fiscal 2010 earnings — excluding items — to growth of 15 [...]
Flu jabs panic grips Wall Street November 5, 2009 New York City health officials yesterday scrambled to explain themselves in the wake of media reports about bankers who got scarce H1N1 flu vaccines through their employers. Members of Congress fired off letters demanding immediate explanations and the US Centers for Disease Control and Prevention reminded state and city health officers of the need to [...]
C&W revives plans to split its operations November 5, 2009 THE eagerly-awaited confirmation that Cable & Wireless (C&W) is reviving its de-merger plans was overshadowed yesterday by the telecoms operator cutting its full-year earnings guidance. Shares dropped by six per cent amid profit-taking, a lack of detail on the de-merger and disappointment over the performance of C&W’s International business (CWI) which provides fixed-line and mobile [...]
IS THE MARKET REACTION TO THE C&W UPDATE JUSTIFIED? November 5, 2009 MORTEN SINGLETON COLLINS STEWART“The market has reacted to the downgrade for the full year, but we think this is a great opportunity to buy into Cable & Wireless. There will likely be some uplift after the news of the de-merger, albeit small as it was a well-flagged event, though there was scant detail on the [...]
The City lawyer who argues that banking has become even riskier November 4, 2009 T o David Morley, the phrase “it is better to travel than to arrive” must sound pretty strange, an expression invented only for those unfortunate souls who have not learnt to move at speed. For Morley, who joined top law firm Allen & Overy in 1980 and has led it as senior partner since last [...]
Cobham boosted by demand November 4, 2009 COBHAM, the aerospace and defence firm, said its outlook was healthy yesterday, and that it had grown strongly in the third quarter on the back of healthy military and government orders. The company, which makes equipment to help military vehicles like the F-35 fighter planes communicate with one another, also said favourable currency translations had [...]
Umeco chief sees sales hit due to lower demand November 4, 2009 SUPPORT SERVICESUMECO, the group which provides parts for wind turbine blades, Formula One team cars and big commercial airplane makers, said yesterday its half-year profits slumped. Pre-tax profits hit £6.1m for the six months to end of September, down from £11.6m in the same period last year, as its composites arm was hit. Chief executive [...]
Pace signals a healthy full year outlook November 4, 2009 SET-TOP box maker Pace said yesterday it was on track to meet expectations for the year as it continued to perform well in a strong digital TV market. The company, which makes devices for BSkyB and Comcast, said average selling prices were increasing in the second half compared with the first half of the year, [...]
BEST OF THE BROKERS November 4, 2009 FOCUS SOLUTIONS’ POSITIVE OUTLOOKFocus Solutions, the group which specialises in pensions back office software, said yesterday it was confident of achieving both revenue and profit expectations for the full year, although half year revenues would be down on the same period last year because of the timing of securing key contracts. The group added it [...]