BEST OF THE BROKERS September 28, 2009 ASTRAZENECAJefferies said AstraZeneca faces a series of patent problems throughout its forecast period. While resurgent growth, pipeline delivery and cost savings on its lower cholesterol drug Crestor may help to offset some of the impact, Jefferies see a meagre earnings versus a weighted average of four per cent for the sector. DIAGEODiageo looks set for [...]
Linklaters’ Mr Tough Guy on why the next two months are key for the City September 28, 2009 THE legal profession might be going through one of its biggest slumps in a decade – but you would not know that looking at Linklaters’ senior partner David Cheyne. A small, dapper man, he is relaxed and all smiles as he sits in a tastefully furnished ground floor meeting room at the firm’s Silk Street [...]
RAPPER WARREN G SWAGGERS HIS WAY OUT OF THE ECONOMIC MESS September 28, 2009 OH, THE joy of listening to celebrities wax lyrical about how they’ve attuned their jet-set lifestyle to the rigours of the global recession. This week, it’s rap superstar Warren G, rapper on the 1994 track “Regulate”, who has given a no-holds-barred interview to Vanity Fair magazine about how he’s managed to emerge unscathed from the [...]
BROWN FIGHTS FOR HIS POLITICAL LIFE … September 27, 2009 GORDON Brown yesterday pledged to impose the most draconian curbs on bank bonuses of any country in the world, as he launched a last-ditch fightback to save himself from humiliation at next year’s general election. The Prime Minister, who spoke at the Labour Party conference in Brighton yesterday, was under intense pressure to rally the [...]
… AS MERKEL TRIUMPHS IN GERMANY September 27, 2009 ANGELA Merkel last night swept to a second term as German chancellor, as her CDU/CSU party triumphed at the polls, bringing the curtain down on one of the strangest coalitions in European politics. The victory brings to an end the CDU’s “grand coalition” with the centre-left Social Democratic Party (SPD) and Merkel will now forge [...]
Branson plots Camelot deal September 27, 2009 SIR Richard Branson will enter the running to take over National Lottery operator Camelot in a “people’s lottery” run separately from his Virgin group, CityA.M. can confirm. Sources close to Branson said that the tycoon, who has made two previous attempts to take over the lottery, would be interested in making a bid, but was [...]
Wall Street is not facing another bubble September 27, 2009 ONE of the most important questions facing investors is what to make of the rebound in asset prices and especially equities. With the economy and profits starting to recover, much of the resurgence is clearly attributable to improved fundamentals. But some of the newfound optimism is also being driven by the vast amounts of liquidity [...]
INM considers its future September 27, 2009 IT’S decision day for the embattled Independent News & Media (INM) group as its bitterly divided board meets to review key restructuring proposals. INM said yesterday it had not made a final decision on any proposal. The heavily indebted company will likely discuss a debt-for-equity swap with bondholders, announced last week, and a separate rescue [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 27, 2009 THE SUNDAYSThe Sunday TelegraphFSA TOLD TO CLEAN UP OIL MARKETSThe Financial Services Authority has been told to examine its statutes to ensure it can prosecute oil speculators practising market abuse. The financial watchdog must also consider bringing in stronger measures to detect speculators using techniques such as phone-tapping, as well as ensuring they have enough [...]
DZ Bank raising 900m capital September 27, 2009 Germany’s biggest mutual bank is near to raising €900m (£834m) of capital as it seeks to become one of the few institutions in the country to recover from the financial crisis without government help. DZ Bank is next month set to raise up to €400m from a rights issue backed by most of its owners. [...]