Analyst Views | How did you take Smiths Group’s results? July 17, 2013 GLEN LIDDY, JP MORGANThe performance of [the detection] division is falling below expectations on the back of problems with three contracts entered into prior to 2010 and costs relating to provisions relating to legal disputes. We have reduced our 2013 earnings per share [forecast] to reflect the additional costs. CHRIS DYETT, INVESTECContract cost overruns are [...]
City Moves for 18 July 2013 | Who’s switching jobs July 17, 2013 Westhouse Securities The broking group has announced the appointment of Paul Locke as investment funds analyst. He joins from Cantor Fitzgerald Europe, where he was a senior funds analyst. Prior to that, he was a senior funds analyst at Canaccord Genuity. Lloyds Bank John Richardson has joined Lloyds Bank Commercial Banking as head of building [...]
Best of the Brokers for 18 July 2013 July 17, 2013 CAPITA RBC downgrades the outsourcing firm to “underperform” from “sector perform” but increases its price target to 870p from 840p ahead of half-year results next week. The broker sees strong revenue growth for the year but thinks tough valuations support a downgrade. RSA INSURANCE Citigroup upgrades its rating on the insurer to “buy” from “neutral” [...]
‘Appy days – App Store at 5 July 17, 2013 Alex Dymoke looks back at the five year history of Apple’s revolutionary online shop THE app was unleashed on the world with a typically smart advertising campaign from Apple. A niggling problem in your daily life? There is, they assured us, an app for that. “A what for what?” was the reaction from most people [...]
Review: The latest generation of MacBook Airs July 17, 2013 Apple has a new MacBook Air and it looks… just like the old one. But there is more going on than meets the eye. Here is the lowdown on how Apple just made the best laptop on the market even better, says Steve Dinneen. ■ Battery life | If this was the only change in [...]
Any Other Business – 18/07 July 17, 2013 ■ Former England cricket captain Mike Gatting has been getting around the City charity sporting circuit lately. Not only did he complete annual Standard Chartered Great City race last week – and blindfolded too – he then hopped straight on his bike for five days of cycling – from Chester-le-Street to Lord’s cricket ground – [...]
Dollar falls on Bernanke comments July 17, 2013 THE DOLLAR fell and sterling rose this afternoon, after US Federal Reserve chairman Ben Bernanke remained dovish on monetary policy. The central banker added that he expects the economy to pick up further in early 2014 as the dragging effect of the sequester starts to fade, possibly indicating tapering may be delayed until the New [...]
Bernanke claims that Fed’s policies are helping main street more than Wall Street July 17, 2013 Federal Reserve chairman Ben Bernanke has said that main street is doing better than Wall Street, when challenged on what the central banker is doing for the real economy. Bernanke said that the Fed is very focused on main street, and is trying to create jobs and make housing affordable, and that low rates created [...]
Bernanke warns that Congress needs to sort out long-term fiscal issues July 17, 2013 Federal Reserve chairman Ben Bernanke has said that fiscal policy has been focused too much on the short run, to the expense of the long run. Bernanke said that in the short therm the sequester and tax increases will see growth reduced by 1.5 percentage points in 2013, i.e. the US might experience 2.0 per [...]
Euro falls sharply against the dollar on Bernanke’s comment July 17, 2013 The euro has fallen sharply against the dollar as Federal Reserve chairman Ben Bernanke spoke today about monetary policy (live stream here). The euro broke below 1.31 against the dollar. Haresh Menghani, senior market analyst at Admiral Markets, has said that a fall below this level could leave the pair "vulnerable to re-test 1.2800 trend-line [...]