The numbers man on why London needs to give the right message October 21, 2009 John Griffith-Jones definitely comes across as a man on a mission. Whether he’s talking about hooking accountancy giants KPMG up with as many of its European partners as possible, helping the banks through one of the most catastrophic crises in their history, preserving the status of London as a financial centre, or teaching young children [...]
Boeing slumps on back of 787 October 21, 2009 BOEING posted a larger-than-expected quarterly loss on costs related to its long-delayed 787 Dreamliner, but the world’s second-largest planemaker reaffirmed the commercial aircraft is on track to fly this year. Boeing said yesterday the aircraft would fly this year with first delivery set for the fourth quarter of 2010. “The surprise was they reiterated the [...]
BHP increases output of iron as demand picks up October 21, 2009 MINING giant BHP Billiton upped its quarterly iron ore production to a record high for the third quarter, it said yesterday. Production of the metal went up by 11 per cent to 30.1m tonnes, as economic conditions pick up, particularly in China. Petroleum output from BHP was also at a record high as its projects [...]
Blue skies for UAL as chief sees upturn October 21, 2009 UAL, the company which owns US airline United Airlines, reported a slump in traffic and earnings yesterday, but said it was beginning to see signs that business travel could soon improve. The number of passengers flying with the carrier fell 2.9 per cent for the third quarter, it said, while revenue slumped 20.3 per cent [...]
TUBE BREEZES IN October 21, 2009 THE first ever air-conditioned tube train came to London yesterday, delivered by a low-loader lorry. It was then driven along the tracks from Amersham to Neasden. The tube will go into service next year, and is one of 58 S-stock models. They also feature walk-through cars and wider doors and walkways. The trains are set [...]
Life expectancy hampers pensions October 21, 2009 New life expectancy projections published yesterday suggest that people will live considerably longer than was assumed when the government decided how the State Pension Age should go up, according to Watson Wyatt. When the government proposed increasing the State Pension Age to 66 by 2026, projections indicated that life expectancy for people turning 66 in [...]
Hedge funds normalise further October 21, 2009 Hedge fund managers have regained their self-confidence, a report from the Northern European financial group showed yesterday. Liquidity and investability are key factors in their optimism, the data showed. “Hedge funds can look forward to a couple of really good years,” the group said. For hedge fund strategies, the group has a positive view of [...]
Peugeot sales fall slows on boost from scrappage October 21, 2009 French carmaker Peugeot Citroen yesterday said third-quarter revenues slowed less sharply than in previous quarters as it boosted market share in Europe, where governments launched car buying incentives. The revenues fell short of analyst expectations which had been buoyed by forecast-beating earnings from German rival Daimler on Monday. European car makers have cut production and [...]
BEST OF THE BROKERS October 21, 2009 AUTONOMYNoble said that Autonomy’s third quarter was solid with strong underlying cash conversion and substantial improvement in its disclosure. However, the broker said the earnings boost was primarily due to higher research and development capitalisation and downgraded the stock to “neutral”. INCHCAPEUBS increased its price target for Inchcape from 30p to 38p, on the back [...]
Bank united on decision to hold QE, rates October 21, 2009 MINUTES from the Bank of England’s October Monetary Policy Committee (MPC) meeting showed that the nine-member body was unanimous in its decision to keep both the cost of borrowing and quantitative easing (QE) on hold. The MPC also said it believed that the asset purchase programme had had a positive impact on financial markets, through [...]
