Windfarm deal hits turbulence July 20, 2011 Climate Change Capital has postponed raising money to buy a stake in a Scottish wind farm, and said it would consider withdrawing from other projects due to “difficult market conditions”. CCC had agreed three weeks ago to spend £61.3m to take a 50 per cent stake in a farm owned by Scottish and Southern Energy.
ANALYST’S BRIDE LIVID AS CLIENTS COME FIRST July 20, 2011 SANDY Jadeja, the chief technical analyst at CityIndex, has such a ferocious work ethic that his colleagues place bets on whether he will actually take time off. So when he had to make a tough call between presenting a fully-booked spreadbetting seminar to clients or attending his own pre-wedding celebrations, there was only one option: [...]
Bank minutes show no sign of a rate hike July 20, 2011 DESPITE warning of even higher than expected inflation to come, the Bank of England appears increasingly reluctant to raise interest rates. Minutes of the Bank’s July meeting, released yesterday, suggest that bearish economic news has pushed the rate-setting committee even further from the first step in normalising rates. “Recent developments had reduced the likelihood that [...]
Consumer morale slides after early summer boom July 20, 2011 MORALE on the British high street has slumped back down again, following a brief spike caused by the royal wedding and early summer sun. In June the Nationwide consumer confidence index fell four points to 51 – a year on year drop of 11 points. Sentiment had soared from 44 to 55 in the previous [...]
Mortgage lending on the increase July 20, 2011 GROSS mortgage lending picked up strongly in June, according to figures released yesterday. Lending came in at £12.6bn, up 16 per cent from the £10.8bn lent in May. Yet the figure was still nearly three per cent lower than at the same time last year, showing that the UK’s sluggish housing market is not out [...]
LSE bats away deal talk with strong results July 20, 2011 THE London Stock Exchange reassured investors of its financial clout at its shareholder meeting yesterday but refused to be drawn on any potential partners following the collapse of its merger with Canada’s TMX Group. LSE chairman Chris Gibson-Smith blamed the breakdown of the £2.4bn merger firmly on TMX for failing to marshal its shareholders to [...]
Italy’s crisis brings unexpected benefits July 20, 2011 THE LSE seems an unlikely beneficiary from Italy’s growing debt crisis. Yet its latest results showed one part of its business has gained hugely from Italy’s growing sovereign debt crisis. The revenue in question is treasury income from the LSE’s central counterparty (CCP) clearing service, part of its Italian clearing business Cassa di Compensazione e [...]
WHAT DID YOU THINK OF THE FAILED TMX MERGER? July 20, 2011 AUBREY FRANKLIN | SHAREHOLDER “I complimented the board for its strategy on the TMX deal but I thought they could have battened it down harder. But it is gone now, so we have to look to the future; the Hong Kong Exchange seems to have a lot in common with the LSE and is no [...]
Intel defies worries with revenue jump July 20, 2011 INTEL Corp’s quarterly revenue forecasts trumped Wall Street’s expectations, defying investors’ concerns about slowing personal computer sales and buoying its shares. Doubts about high US unemployment, the risk of a European financial crisis, climbing inventories and sluggish PC sales had clouded the second-half outlook for Intel and other chip makers like Advanced Micro Devices. But [...]
eBay quarterly results top market expectations July 20, 2011 EBAY reported better-than-expected quarterly results yesterday driven by demand for its PayPal payment service, and a rise the value of merchandise sold through its main online market place rose. EBay said its second-quarter net income fell to $283.4m (£175.5m), or 22 cents per share compared with $412m (£255m), or 31 cents a share, in the [...]