Amazon’s Kindle could annoy the publishing trade October 8, 2009 AT last, Amazon’s much-hyped Kindle is upon us, with a Europe-wide release date scheduled for 19 October. For anyone who doubts just how big e-books are going to be, consider this: the Kindle version of Dan Brown’s latest book, The Lost Symbol, is outselling the hardcover edition on Amazon. Earlier this week, Forrester Research upped [...]
JP Morgan AM puts Thompson in top UK job October 8, 2009 JP MORGAN Asset Management, the two-century old fund manager, has appointed Roger Thompson as head of its UK arm. Thompson has been at the firm for 16 years and is moving up to the top job after serving as chief financial officer of its international business since 2003. A former PricewaterhouseCoopers auditor, who is also [...]
US fiscal deficit at record high October 8, 2009 America’s government deficit will reach $1.4 trillion – or 9.9 per cent of GDP – in the fiscal year ending 30 September, analysts at the Congressional Budget Office said yesterday. In the 2008 fiscal year, the deficit was $459bn. The US Treasury is due to publish its official figures later this month.
Rise in German industrial output October 8, 2009 German industrial production climbed 1.7 per cent in August compared to July when it fell a downwardly revised 1.1 per cent. The rise was driven by a 1.5 per cent jump in investment goods output. Government stimulus measures such as incentives to buy new cars are also thought to have helped.
Alcoa posts a surprise profit October 8, 2009 ALCOA shares rose by around four per cent yesterday after the aluminium producer reported its first profit in a year in what Wall Street viewed as a bellwether of how industrial companies are recovering. Five investment banks – Citigroup, Desjardins, UBS, RBC and S&P Research – raised Alcoa’s target stock price, a day after the [...]
Competition Commission rules against Ticketmaster and Live Nation merger October 8, 2009 THE Competition Commission yesterday ruled against the planned merger of Ticketmaster Entertainment and Live Nation, saying it could lead to higher prices and less competition. The ticketing group and the world’s largest concert promoter announced their merger plan earlier this year, but it has raised antitrust concerns on both sides of the Atlantic and is [...]
JP Morgan hired as Sony sells stake in rival Shine October 8, 2009 TV PRODUCTION firm Shine has appointed JP Morgan to sell Sony’s 21 per cent stake in its business, since Shine’s global ambitions have put the firms increasingly in competition. Shine, which is chaired by its founder Elisabeth Murdoch, has grown significantly from the mid-sized UK-focused operation that Sony invested in four years ago. “While Shine [...]
BEST OF THE BROKERS October 8, 2009 YELLMorgan Stanley lowered its price target for Yell, which it rates “overweight”, from 115p to 90p, to reflect weaker revenue trends and the dilutive impact of a £500m equity issue. It said that refinancing is the key event for the shares, and that the next catalyst will be the deadline for lenders to accept the [...]
CITY MOVES WHO’S SWITCHING JOBS October 8, 2009 Religare Capital MarketsThe broking and investment banking group has appointed Martin Newson as its new chief executive of global investment banking. Newson will be tasked with bringing together the firm’s Indian capital markets franchise with its international investment banking operation. He was previously head of global equities at Dresdner Kleinwort, where he also led the [...]
Q&A: BUYING October 8, 2009 Camilla DellMANAGING PARTNER AT BLACK BRICK Q. Dear Camilla, I am looking to buy a property in London but every time I find something I like, it goes under offer and I don’t have the chance to buy it or I’m asked to participate in a sealed bid. What are your tips for succeeding? A. [...]
