Stagecoach mulls merger with Nat Exp October 19, 2009 British bus and rail operator Stagecoach’s proposed takeover boosted shares in rival National Express but gains were capped by fears that regulatory hurdles and debt deadlines could scupper a deal. Analysts said a tie-up would make a lot of sense for debt-laden National Express and help Stagecoach’s earnings but some suggested National Express might instead [...]
FTSEgiven boost by strong gains in energy and mining October 19, 2009 Britain’s top shares added 1.8 per cent yesterday, lifted by gains in miners and energy issues as commodity prices rose on an improved demand outlook and investors looked towards further earnings news from the United States. The FTSE 100 ended 91.30 points higher at 5,281.54, a new peak for 2009 on the 22nd anniversary of [...]
After-bell earnings from Apple impress October 19, 2009 US stocks rose to fresh 12-month highs yesterday as optimistic investors rode a wave of solid quarterly earnings, which continued after the session’s close when Apple’s shares jumped on its results. Earnings from companies, including Gannett, which beat analysts’ expectations, and positive broker commentary on Caterpillar further encouraged investors looking for confirmation the economy is [...]
BORIS ATTACKS BANKS IN U-TURN October 19, 2009 BORIS Johnson is prepared to haul bankers into City Hall to berate them over bonuses after he threw away his cheerleader outfit and attacked the City’s culture of “greed”. In a massive U-turn that followed months of outspoken defence of banks and the City, Boris said he would take a harder line with the industry. [...]
Bernanke warns US and Asia on imbalances October 19, 2009 ASIA’S export-promotion policies and the US’s massive budget deficit could refuel global economic imbalances and put efforts to achieve more durable growth at risk if not curbed, US Federal Reserve Chairman Ben Bernanke warned last night. Throwing his weight behind a recent call by leaders of the G20 nations to rebalance the global economy in [...]
EC gets tough on derivatives October 19, 2009 The European Commission (EC) plans to drive more trading in derivatives onto exchanges and under the gaze of regulators, according to a draft of the proposals due to be released this week. Critics have blamed this secretive but lucrative market for helping cause the financial crisis. The European Union’s executive arm now wants to impose [...]
Why Boris is wrong to attack the City October 19, 2009 UNTIL now, I thought that Boris Johnson understood how the City works. Now, however, I’m not so sure: yesterday, he said he understood why so many people view Goldman Sachs “as a giant vampire squid wrapped around the face of humanity”. The reason? Because, says Boris, “instead of planning to hand out gigantic bonuses to [...]
Hilton trades lead to Raj October 19, 2009 Unusual trades in Hilton Hotels stock, detected by the New York Stock Exchange (NYSE), helped lead to billionaire investor Raj Rajaratnam and five others being charged with insider trading last week. Sri Lankan-born Rajaratnam allegedly made a $4m (£2.4m) profit in July 2007 by buying 400,000 shares in Hilton after receiving non-public information about the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 19, 2009 FINANCIAL TIMES FURTHER VAT RISES LIKELY AS EUROPE SETS THE PACEBritain will be levying the fifth-lowest value-added tax rate in Europe after it reverts to 17.5 per cent in January, according to a survey that is likely to reinforce expectations of further rises after the general election. A survey by KPMG, the professional services group, [...]
BA holds frank talks with union October 19, 2009 Willie Walsh, the chief executive of British Airways, held “open and frank” discussions with union leaders yesterday, in the latest step to avoid a ballot on strike action. Unions and the embattled airline have been locked in talks over BA’s cost-cutting measures, which involves axing up to 3,700 jobs over the next year. BA wants [...]
