Good earnings news gives lift to Wall Street July 18, 2012 THE S&P 500 touched its highest level since early May yesterday as corporate profits from bellwethers Intel and Honeywell defied fears of a collapse in earnings. The Dow Jones industrial average gained 103.16 points, or 0.81 per cent, to 12,908.70. The Standard & Poor’s 500 Index rose 9.11 points, or 0.67 per cent, to 1,372.78. [...]
Ethel Austin in administration July 18, 2012 Clothing chain Ethel Austin collapsed into administration for the fourth time in four years yesterday. Duff & Phelps, acting as administrator, said redundancies and closures at its 48 stores cannot be ruled out for the 78-year-old Liverpool-based firm. It added that it would “urgently” review the firm’s financial position.
Homeserve rockets on M&A talk July 18, 2012 Shares in Homeserve surged 12 per cent to 187p yesterday on talk of takeover interest from private equity firms. The company, which is embroiled in an FSA probe, said in a statement that it was not, and had not been, “engaged in any discussions which could lead to a possible offer for the company”. But [...]
We need supply-side reforms not more off-balance sheet spending July 18, 2012 THE government has announced more schemes to “stimulate” investment. We can now add Credit Enhancement and Export Finance Guarantees to previous measures like Funding for Lending, Credit Easing and the National Loans Guarantee Scheme. Against the backdrop of a further growth forecast downgrade from the International Monetary Fund, the need to be seen to “do [...]
Romney needs to fight Obama’s slurs against his successful business career July 18, 2012 PRESIDENT Barack Obama’s campaign has expertly controlled the election’s narrative over the course of this week: probing Mitt Romney’s tenure at Bain Capital and his reticence to release his pre-2010 tax returns. It’s sublime politics, a tactful “devil you know” distraction from the country’s economic woes. The Democratic offensive has gone from the tenuous to [...]
Cybercrime during Olympics is a risk to home workers July 18, 2012 AS ATHLETES make their final preparations for the Olympics, tens of thousands of workers are set to work from home in a move to avoid the disruption. While undoubtedly a welcome choice for many, such flexibility is not an option for everyone. From City trading floors to local service businesses, the complexity or sensitive nature [...]
Is M&S’s decision to offer current accounts for a fee a sign that no-charge banking is dying? July 18, 2012 YES Stephen Whitehouse “Free banking” in the UK is nearing an end. Regulators view the current banking model as unfair to consumers and might well force the end of the UK phenomenon of free in-credit banking. Our research suggests that customers are willing to pay for services that add real and lasting value to their [...]
RAPID RESPONSES July 18, 2012 In praise of Mervyn [Re: Somebody needs to guard the City of London’s guardians, yesterday] To me the story comes across a little differently. The recent facts on Libor point to regulators knowing that the rate was rigged, but doing nothing – or at least nothing in a timely fashion. But Mervyn King succeeded where our [...]
MBA research quirks can better your career July 18, 2012 WHY SHOULD an MBA student care how John Maynard Keynes picked his stocks? Or how hospitals can be redesigned to prevent infection? Or how farmers’ markets could attract new customers? To many, the research interests of business school professors will seem abstract, narrow, even irrelevant. And MBA students may not be all that bothered whether [...]
Microsoft launches new Office July 18, 2012 Microsoft boasts that its Office software – which includes Word, Excel, Outlook and PowerPoint – is used by more than 1bn people. It is the company’s biggest revenue driver, bringing in an astonishing $15bn a year. Around 90 per cent of business PCs use it. And yet many people see the new version of Office, [...]
