LONDON REPORT July 22, 2012 A SERIES of heavyweight corporate results and significant economic data releases await markets this week, culminating with the limelight being poured upon controversy-struck Barclays once again. Barclays will release interim results for its second quarter on Friday, with the ongoing Libor scandal likely to overshadow the banks’ forecasted profits. Fellow British lender Lloyds will itself [...]
WALL ST THE WEEK AHEAD July 22, 2012 THE trend of better-than-expected earnings will be put to the test this week when investors hope Apple can exceed already high expectations and Facebook reports its first quarterly earnings. Apple accounts for a significant proportion of the overall earnings of Standard & Poor’s 500 components. S&P 500 earnings are expected to show a rise of [...]
Switching bank accounts is easier than many imagine July 22, 2012 IF YOU only sourced financial advice from politicians, you might think switching bank accounts is next to impossible. Ed Miliband pledged that a Labour government would revolutionise banking by clearing hurdles to changing banks. Shadow chancellor Ed Balls alleged that “it’s very difficult to change bank accounts.” If you don’t like your bank’s behaviour – [...]
Fee paying banking will be a very tricky sell July 22, 2012 MARKS & SPENCER ruffled some feathers last week when it announced that it would be charging for the use of its current account – between £15 and £20 a month, depending on whether you want insurance included. In return, customers will receive vouchers for free hot drinks in M&S cafés, M&S vouchers worth £40 and [...]
Delivering the wrong business message is an elementary mistake July 22, 2012 THE TWO charming young people sitting opposite me beamed with enthusiasm about their new business. “We’re graphic design artists and web designers,” they said as they handed me a brochure. Then it got confusing. The brochure had lots of pictures of little squares, each filled with a capital letter in a fancy font. “We designed [...]
Pull out the stops in a pop-up shop July 22, 2012 POP-UP shops have all the warning signs of a government gimmick: a catchy name, the retail sector’s celebrity-in-chief Mary Portas, and swarms of immodest politicians looking to take the credit. But beneath the layers of puff and guff is a steely policy that could help carve through a stifling regulation that ties the hands of [...]
London Stock Exchange surges as speculation over merger circulates July 19, 2012 BRITAIN’S top share index edged higher yesterday helped by a bounce in several heavyweight banking stocks. But the London Stock Echange gathered the most attention, with a late surge before the close sparked by speculation of a potential tie-up with its Singaporean counterpart. The talk follows the LSE’s recently announced joint venture with the Singapore [...]
Tech shares push S&P to 10-week high July 19, 2012 US stocks rose yesterday for a third straight day, with the S&P 500 at a 2-1/2 month high, as earnings from technology companies and expectations for more monetary stimulus outweighed weak economic data. So far in this earnings season a majority of companies have beaten analysts’ lowered expectations. In the latest boost, IBM raised its [...]
Stocks edge upwards on renewed hope for more quantitative easing July 18, 2012 BRITAIN’S benchmark share index closed at its highest level in nearly two weeks yesterday, as hopes of fresh central bank stimulus measures lifted equity markets, although traders said the overall weak economic outlook would limit any future gains. The blue-chip FTSE 100 ended up 56.68 points, or one per cent, at 5,685.77 points – its [...]
Good earnings news gives lift to Wall Street July 18, 2012 THE S&P 500 touched its highest level since early May yesterday as corporate profits from bellwethers Intel and Honeywell defied fears of a collapse in earnings. The Dow Jones industrial average gained 103.16 points, or 0.81 per cent, to 12,908.70. The Standard & Poor’s 500 Index rose 9.11 points, or 0.67 per cent, to 1,372.78. [...]