Euro prices in fresh decline August 31, 2009 EUROZONE consumer prices fell in August for a third consecutive month, though the rate of deflation narrowed significantly from July and economists predicted prices would start to rise again within months. Consumer prices fell by 0.2 per cent year-on-year in August, down from the 0.7 per cent decline the Eurozone countries experienced in July. But [...]
Bitter AIG dispute set for arbitration August 31, 2009 THE acrimonious financial dispute between insurance giant AIG and its former chief executive Maurice “Hank” Greenberg looked like it might be heading for a solution yesterday as the two sides agreed to enter into private arbitration. The agreement, which is also with the group’s former financial officer, signals a reversal in the contentious relationship between [...]
Big week ahead for data on jobs and UK output August 31, 2009 IT’S a relatively big week for economic data, with the spotlight fixed firmly on the non-farm payrolls data out from the US on Friday. The forecast number from GFT is for a loss of 200,000 jobs in August, compared to July’s 247,000. The unemployment rate is expected to edge closer to 10 per cent, with [...]
CARNIVAL SPIRIT IN LONDON August 31, 2009 NOTTING HILL Carnival attracted hundreds of thousands of revellers keen to enjoy warm weather at Europe’s biggest street party. The number of arrests was down but a teenage boy was in a serious condition last night after being stabbed.
JPM Caz still dominating adviser arena August 31, 2009 JP MORGAN Cazenove comfortably retained its broking and financial advisory dominance over the third quarter of the year, according to the latest statistics from financial data group Hemscott. JP Morgan Cazenove gained eight broking clients, increasing its total tally to 236, of which 40 were FTSE 100 firms. Numis Securities and Brewin Dolphin rank second [...]
Channel Five owner posts a profit slump August 31, 2009 GERMANY’S Bertelsmann posted a 30 per cent drop in first-half operating profit due to a decline in advertising and consumer spending and said cost cuts had held off worse results. The owner of Channel Five parent company RTL Group, which reported results last week, and publisher Random House, implemented strict cost savings earlier in the [...]
Experts warn that volatile markets loom August 31, 2009 THE FTSE 100 is set to breach the 5,000 mark for the first time in ten months this week, but strategists warn that the rally could be misleading and that volatility lies ahead. The benchmark index closed one per cent up at 4,908.90 on Friday – having hit a session high earlier in the day [...]
IS THE FTSE 100 RALLY A TRUE REFLECTION OF MARKET VALUES? August 31, 2009 HENK POTTS BARCLAYS WEALTH“The earnings season has given more support than anticipated, largely because firms have cut back. In the short-term we have to be a lot more cautious. But in the long term, if we are going into a period of recovery and companies are leaner and meaner, we are looking at some great [...]
Nikkei cool on poll outcome August 31, 2009 JAPAN’S Nikkei stock index ended the day down yesterday as an early boost from Sunday’s landslide election victory for the Democratic Party of Japan (DPJ) over the ruling Liberal Democratic Party (LDP) was quickly reversed. The benchmark Nikkei-225 closed down 0.4 per cent at 10,492.53, despite gaining 196.78 points, or 1.87 per cent in the [...]
DISNEY TO PAY $4BN FOR MARVEL HEROES August 31, 2009 WALT Disney said yesterday that it plans to net Spiderman’s parent, Marvel Entertainment, for $4bn (£2.5bn), as the entertainment empire attempts to broaden its appeal to a young male audience. The biggest media deal of the year so far will unite the Incredible Hulk and Mickey Mouse, and see some of Marvel’s 5,000 hugely popular [...]