THE TIPSTER WEAK DOLLAR OFFERS BUYING OPPORTUNITIES November 10, 2009 THE dominant theme in the currency markets at the moment is the question mark hanging over the value of the dollar and whether the greenback’s weakness will continue. The single currency is once again at the key $1.50 level as the weak dollar continues to drive euro-dollar higher. There is strong resistance between 1.5000 and [...]
Opec-like forum for gas firms November 10, 2009 The club of major gas producers should operate like oil exporters’ group OPEC in defending its members against low gas prices, Algerian energy and mines minister Chakib Khelil said yesterday. Gas importing countries, particularly in Europe, have expressed concern the Gas Exporting Countries Forum could drive up prices by acquiring the same influence over gas [...]
Falling German sentiment dampens recovery hopes November 10, 2009 HOPES of recovery in Germany were dashed yesterday by the second consecutive fall in the country’s investor sentiment, which worsened by more than expected in November. The ZEW think-tank’s monthly poll of economic sentiment posted its lowest reading in four months, dropping to 51.1 from 56 in October. A separate gauge of current conditions rose [...]
British boss interim head of GM Europe November 10, 2009 NICK REILLY, the British executive who is president of General Motors’ (GM) international operations, has been named as the man to lead the recovering carmaker’s European arm, Opel, as it searches for a new chief executive. The news comes a week after GM, which emerged from bankruptcy at warp-speed in July this year, shocked the [...]
Catering giant Sodexo sees flat 2010 as rising unemployment deters clients November 10, 2009 FRANCE’S Sodexo warned of flat sales in fiscal 2010 in the face of rising unemployment and cautious spending by clients. The world’s second-biggest catering services company after Compass nonetheless said yesterday it was on track to meet medium-term objectives after reporting fiscal 2009 results in line with its guidance. Analysts said the outlook was disappointing, [...]
BEST OF THE BROKERS November 10, 2009 MAN GROUPFollowing Man Group’s interims and management’s upbeat message on an improving industry backdrop, Evolution raised its full-year 2011 earnings per share forecasts by eight per cent to $43.30. The broker has reduced current year forecasts by six per cent. It retained a “buy” on the stock with an increased target price of 400p. SHANKS [...]
CITY MOVES WHO’S SWITCHING JOBS November 10, 2009 Syndicate Asset ManagementThe fund management group has hired Mark Cheshire, 51, as chief executive of its newly-formed Ashcourt Rowan wealth management businesses, which are due to formally launch in January. Cheshire was previously director of UK private wealth management at Lloyds TSB and, prior to that, chief executive and managing director at Lloyds TSB Private [...]
Onshore wind given 1.4bn UKbank loan November 10, 2009 LLOYDS Banking Group, Royal Bank of Scotland and BNP Paribas teamed up with the European Investment Bank yesterday to pour £1.4bn of financing into onshore wind projects in the UK. Chancellor Alistair Darling and energy minister Ed Miliband threw their weight behind the project that encourages banks to lend to wind power firms a day [...]
All eyes are on the Copenhagen talks November 10, 2009 IT has been a busy week for energy, as the British government turns its attention to the much-anticipated UN climate talks in Copenhagen next month. That’s why British banks – or at least the ones part-owned by the taxpayer – are lending to wind farms as the government also paves the way for a massive [...]
Kraft’s offer has improved Cadbury’s brand image November 10, 2009 BUSINESS news only rarely makes it into the wider public consciousness, but as the graph shows, this is different when an iconic British brand is facing a takeover by an American company. In early August, Cadbury’s BrandIndex score and share price were around +47 and 536p respectively. The possibility of Kraft’s takeover saw Cadbury’s share [...]
