TUI ups carbon reduction target August 19, 2013 British travel firm TUI Travel said yesterday it has raised its carbon reduction target after its airlines hit an initial goal to cut carbon dioxide usage by six per cent two years early. The world’s largest tour operator, which owns six European airlines including Thomson Airways, said it now aims to reduce CO2 usage across [...]
New Zealand plans Fonterra probe August 19, 2013 New Zealand yesterday announced plans for a government inquiry into how ingredients made by dairy giant Fonterra became contaminated with a botulism-causing bacteria, as the country tries to salvage its reputation as an exporter of safe agricultural products. The inquiry, to be held alongside two internal Fonterra probes and another by the country’s agricultural regulator, [...]
Everbright hit by trading restriction August 19, 2013 China has slapped restrictions on the number of new stock index futures positions that Everbright Securities can build after a glitch in the brokerage’s systems caused a brief spike in the country’s stock indexes last week. The surge created and then wiped out roughly $100bn (£64bn) worth of share value on the CSI300 Index, which [...]
City Moves for 20 August 2013 | Who’s switching jobs August 19, 2013 Davenport Lyons Gavin Llewellyn has joined the law firm as a partner in its intellectual property team. He previously worked at Berwin Leighton Paisner, where he was an associate director. Brooks Macdonald Asset Management The private client investment manager has appointed Lisa Brown as intermediary sales manager in its business development team. Prior to joining [...]
Best of the Brokers for 20 August 2013 August 19, 2013 INTERSERVE Liberum thinks outsourcing group Interserve’s interim results last week were ahead of expectations. It reiterated its “buy” rating but stated that it is difficult to foresee much sales progress beyond the expected 2014 margin of 4.8 per cent. SPIRIT PUB CO Panmure lifts its target price on Spirit Pub Company to 110p and reiterates [...]
London Report: Fall in copper price hits mining stocks August 19, 2013 ADROP in major mining stocks pushed Britain’s benchmark share index lower yesterday, while persistent concerns about an expected reduction in US monetary stimulus also weighed on the market. The blue-chip FTSE 100 index closed down 0.5 per cent, or 34.26 points, at 6,465.73 points, continuing a pull-back that saw it dip 1.3 per cent last [...]
CNBC Comment: Why it could now be time to buy gold August 19, 2013 GOLD kicked off 2013 trading just below $1,700 per troy ounce, only to see central banks and investors push its market value down to around $1,180 in late June. Since then, it has steadily risen in value, putting on its best performance in months last week, when it broke through the psychologically important $1,350 level. [...]
Daily FX: Analyst picks August 19, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long dollar-yen, short euro-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks Last week I was beginning to look at the dollar long against the euro and yen, but neither trade got off the ground. Now, attention turns to the [...]
Unemployment is falling in a majority of US states August 19, 2013 The unemployment rate fell in a majority of US states in July, the US Bureau of Labor Statistics said today (release). The US labour market is a key factor for the Federal Reserve when deciding the timeframe for the tapering off of its bond buying programme. The unemployment rate fell in 36 states, increased in [...]
Green MP arrested at anti-fracking protest August 19, 2013 Green Party MP for Brighton Pavilion Caroline Lucas has been arrested at the anti-fracking protest in Sussex. Earlier today, she said the protests weren't "just about Balcombe", but about the entire government policy on fossil fuels. "The government is not listening so I think there are times when peaceful direct action can be legitimate." (Full [...]