Capacity cuts help Cathay Pacific August 14, 2013 Cathay Pacific Airways, the world’s largest international air cargo carrier, is scaling back seating capacity on some long-haul routes to offset declines in its air freight business, allowing it to post a first-half net profit yesterday. Cathay said its net income hit HK$24m (£1.99m) for the first six months of the year, compared to a [...]
City Moves for 15 August 2013 | Who’s switching jobs August 14, 2013 Fitch Learning The financial education firm has announced the appointment of David Gumley to its sales division. Gumley was most recently at BPP Professional Education, where he was commercial director for the northern region. Lloyds Banking Group Eric Jenkins has joined the bank as a director in its acquisition finance division. Jenkins has over 15 years’ [...]
Best of the Brokers for 15 August 2013 August 14, 2013 JUPITER Cantor Fitzgerald keeps its “buy” rating and target at 431p following a placing by big investor TA Associates at 350p per share. The broker remains impressed by the fund manager’s cost control and prospects for a dividend. AVIVA Canaccord Genuity has upgraded the insurer from “hold” to “buy” and raised its target from 385p [...]
London Report: Blue chips drop as ex-dividends spark sell off August 14, 2013 THE FTSE 100 ended lower yesterday, with losses for companies going ex-dividend offsetting the impact of positive macroeconomic data, which lifted financial stocks. Kazakh miner ENRC, down 2.7 per cent, was among the top fallers on the FTSE 100 after announcing a steeper-than-expected drop in first-half profit, while global miner Rio Tinto fell 1.8 per [...]
New York Report: Wall St falls as fears over Fed tapering weigh August 14, 2013 WALL Street stocks fell yesterday pressured by uncertainty about the Federal Reserve’s plans to withdraw stimulus, but European shares rose to 2-1/2-month highs after data showed the Eurozone emerged from recession in the second quarter. The euro slipped despite the encouraging euro zone economic data as higher US bond yields buoyed the dollar, while sterling [...]
Troll, alt, delete August 14, 2013 Waging war on the cyber bullies IN BOOK two of Plato’s Republic, Socrates’ sidekick Glaucon attempts to bolster the argument that humans are not intrinsically just by invoking the Ring of Gyges, a myth in which a poor shepherd stumbles upon a magical ring in a cave. The herdsman is astonished to find that he [...]
On your head be it: we road test four of the best headphones August 14, 2013 Sennheiser Momentum £259.99 sennheiser.co.uk In understated black these Sennheiser Momentum headphones deliver a detailed, nicely balanced sound that is perfect for classical and acoustic music. However, for dance music with heavy bass they lack a brutal punch. Beats Executive £269.95 uk.beatsbydre.com The garish branding can make Beats headphones seem a tad tacky but there’s no [...]
Any Other Business – 15/08 August 14, 2013 ■ Britain’s national debt is a little bit smaller today following the bizarre tale of Ms Joan Edwards. As The Capitalist explained yesterday, the recently deceased Bristol resident became the biggest individual donor in UK politics after apparently leaving her entire £520,000 estate to “the party of government” at the time of her death. The [...]
14 per cent of UK adults have never used the internet August 14, 2013 As of the second quarter of 2013, 14 per cent of UK adults, or 7.1m people, had never used the internet, according to the latest data from the Office for National Statistics (release). Those living in Northern Ireland were most likely to be unaquainted, with over a fifth (21 per cent) of respondents saying they [...]
Two traders charged in relation to London Whale scandal August 14, 2013 US prosecutors have charged two former JP Morgan traders over the $6.2bn “London Whale” trading scandal. The traders, Javier Martin-Artajo and Julien Grout, have been accused of attempting to manipulate the synthetic credit portfolio of JP Morgan’s chief investment office, which prosecutors say was an attempt to hide trading losses worth hundreds of millions of [...]