BEST OF THE BROKERS October 3, 2011 COOKSON UBS upgrades the materials science company from “sell” to “neutral” with an unchanged target price of 430p. The broker says the company’s valuation has dropped to such a point that it is difficult to see much further downside, but still sees competitive pressure in China Flow Control as a risk. Long-term organic growth is [...]
Episode 30: The twins have arrived October 3, 2011 5.18am. I sit at the kitchen table. Alone. Exhausted and elated. Undergraduate philosophy comes back to me. Wittgenstein’s Tractatus. “Whereof one cannot speak, thereof one must pass over in silence.” And what can one say of the birth of one’s children? Born either side of midnight, twins with different birthdays. A daughter born at 23.57 [...]
Amanda Knox freed as murder verdict quashed October 3, 2011 Amanda Knox and her ex-boyfriend Raffaele Sollecito have been sensationally cleared of the murder of Leeds University student Meredith Kercher in an Italian court. Knox collapsed sobbing as the jury in the court of appeal ruled that she was innocent of the murder but found guilty of the lesser charge of slandering a police officer. [...]
Global manufacturing sees first fall in two years October 3, 2011 The manufacturing sector contracted worldwide for the first time in over two years last month as incoming new work dried up, but firms still took on more workers, a new report has shown. The Global Manufacturing purchasing managers’ index, compiled by JP Morgan with research and supply organisations, fell in September to 49.9 from 50.2 [...]
US factory output and hiring increase October 3, 2011 Production at US factories rose at a faster-than-expected pace in September and companies hired more staff, data has shown, adding to hopes the US economy should escape recession. The Institute for Supply Management has said its index of national factory activity rose to 51.6 last month from 50.6 in August, in the 26th consecutive month [...]
S&P reaffirms UK’S triple-A rating October 3, 2011 Britain’s prized triple-A sovereign debt rating could come under pressure if the government strays from its path of public deficit cuts in the face of weaker growth, credit agency Standard & Poor’s said. In a release that coincided with a keynote speech by finance minister George Osborne at his Conservative Party’s annual conference, S&P said [...]
Osborne in credit easing plan for businesses October 3, 2011 Chancellor George Osborne has said “credit easing” – a move aimed at cutting the cost of borrowing for hard-pressed businesses – would be triggered. The strategy would involve the public sector buying bonds issues by companies, was “potentially very significant” but full details would not be revealed until the chancellor’s autumn statement in November. In [...]
PwC revenue hits record high October 3, 2011 Strong gains in its consulting business helped PwC increase revenues by ten per cent in the past year, it has said, returning it to its position as the world’s biggest professional services firm. PwC’s global network of firms reported record revenue of $29.2bn (£18.7bn) for the year that ended June 30, up from $26.6bn in [...]
Greek crisis saps market confidence October 3, 2011 Banks were the biggest fallers across Europe on opening this morning after Greece admitted it will not meet 2011-2012 deficit targets imposed by international lenders as part of the country’s bailout. The sector was down 3.7 per cent on the pan-European FTSEurofirst 300 index, illustrating the problem for financial institutions saddled with burden of the [...]
Manufacturing in surprise bounce back October 3, 2011 British manufacturing activity unexpectedly grew for the first time in three months in September, although a slide in new export orders highlighted the dangers facing the sluggish recovery, a survey showed. The Markit/CIPS manufacturing PMI headline activity index rose to 51.1 last month from an upwardly revised 49.4 in August. This was well above the [...]