China premier defends Iran deal January 19, 2012 Chinese premier Wen Jiabao has defended his country’s extensive oil trade with Iran against pressure from the west to impose sanctions over its nuclear energy programme. Wen was speaking at the end of a six-day visit to the Middle East, with tensions running high over possible US sanctions on countries that do energy trade with [...]
Edinburgh votes down Mitie work January 19, 2012 Shares in outsourcing group Mitie slipped 1.3 per cent yesterday after Edinburgh Council voted against its £170m facilities management deal. Mitie was named as preferred bidder last week for the seven-year contract to run school meals and maintenance work, but has been knocked back by the council after it voted to carry out the services [...]
Knight Capital’s earnings soar January 19, 2012 Knight Capital’s quarterly profit rose four-fold, it said yesterday, as the electronic trader earned more revenue from its market-making activities despite challenging market conditions. The firm’s shares jumped 10 per cent on the news that its fourth quarter earnings had soared to $40.2m, from $9.2m a year ago. Knight Capital, which is based in the [...]
Anglo American partner hits out January 19, 2012 Anglo American’s Chilean partner Codelco has hit out again at Anglo’s deal to sell part of its stake in a shared project, claiming the firm intentionally undermined Codelco’s right to take a bigger part of the Anglo American Sur mine. Codelco claims that Anglo and buyer Mitsubishi had even made provision for Anglo to pay [...]
CITY MOVES | WHO’S SWITCHING JOBS January 19, 2012 Signia Wealth Chris Godding has been appointed as co-chief investment officer and managing director, focusing on institutional and charity clients. Godding moves to Signia Wealth after nine years at Morgan Stanley private wealth management international, where he was chief investment officer and a member of the Smith Barney investment committee. Prior to this, he managed [...]
BEST OF THE BROKERS January 19, 2012 APR ENERGY Goldman Sachs initiates coverage of the temporary power group with a “buy” rating and a target price of 1,320p, implying a 24 per cent upside. Ahead of full-year results on 22 March, the broker forecasts revenue of $208m (£134m) and earnings before interest, tax, deductions and amortisation of $107m. It also says that [...]
Bank stocks lead the way as the FTSE continues its climb January 19, 2012 BRITAIN’S top share index closed higher yesterday, led by banks after bullish earnings from their US peers and with hopes building that the recent coordinated action by central banks and the IMF would be enough to avoid an economic crisis. The FTSE 100 index rose 38.78 points, or 0.7 per cent, to 5,741.15, after breaking [...]
Third straight day of gains in the US January 19, 2012 US stocks rose for the third straight day yesterday, sparked by results from Bank of America and Morgan Stanley and as the latest jobless claims dropped to a near four-year low. The S&P 500 hit a fresh five-month high, with the industrials, consumer discretionary stocks and financials leading gains. Tech shares advanced ahead of earnings [...]
Pakistan rub salt in wound with England ‘easy’ taunts January 19, 2012 PAKISTAN captain Misbah-ul-Haq taunted England’s demoralised batsmen last night by claiming his side’s astonishing 10-wicket victory in the first Test in Dubai was “easy”. The tourists started day three hopeful of limiting Pakistan to a first innings lead of just over 100, but a spirited rearguard effort from Adnan Akmal (61) ensured England began their [...]
Murray wary of leftie Llodra January 19, 2012 Brit glides past Roger-Vasselin to set up third-round clash with quicksilver veteran HE MAY not be a wild card under by strict tennis definitions but Michael Llodra stands out from most professionals on the circuit – and Britain’s Andy Murray admits he will pose a singular threat when they collide tomorrow at the Australian Open. [...]
