Takefuji eyes bankruptcy as it becomes the biggest Japanese lender to collapse September 27, 2010 JAPAN’S Takefuji Corp is preparing to file for bankruptcy with $5.2bn (£3.2bn) in debts, making it the biggest consumer lender to fail under the weight of court-ordered interest repayments and tighter lending rules. Takefuji, which has been considered at risk for failure because it doesn’t have the financial backing of any of Japan’s big banks, [...]
BEST OF THE BROKERS September 27, 2010 LUKOIL UBS sees Lukoil as cheap stock with a number of positive short-medium term catalysts not yet priced in. The broker, which reiterates a “buy” rating for the Russian energy group, says on a relative basis, Lukoil is starting to receive tax breaks and is probably set to acquire the most desired upstream assets at [...]
CITY MOVES | WHO’S SWITCHING JOBS September 27, 2010 London Stock Exchange The exchange has named Paolo Scaroni (pictured), the chief executive of Italian oil and gas group Eni and one of its non-executive directors, as its new deputy chairman. The LSE also said Massimo Tononi has joined the board as a non-executive director. Tononi was a partner at Goldman Sachs until July this [...]
Lurking behind the financial crisis: the Fed puppeteer and the trader September 27, 2010 I WANTED it to be like that Quentin Tarantino movie: every person should come away with a different picture. I wanted to almost do it with no judgment.” Andrew Ross Sorkin is in London for the Samuel L Johnson literary awards after Too Big To Fail, his best-selling account of the financial crisis, was short-listed [...]
September was golden but cooler days are due September 27, 2010 SEPTEMBER’S prodigious rally in the American S&P 500 index has taken many investors rather by surprise. Despite falling yields on US Treasuries and gold rallying, the index is on track for its third-best monthly performance in the past decade. The S&P 500 has been driven higher by tech stocks, which have risen 12.71 per cent [...]
EQUITY RALLY NOT MATCHED BY OIL PRICES September 27, 2010 CFD MARKET STRATEGIST, GFT THE rally in equities this September has wrong-footed those of us who felt that the August sell-off was the start of something more serious. Now we’re just a few days away from October, typically another worrisome month for markets. While the major US indices have broken above significant resistance levels, recent [...]
Even without a runway, airlines set for take-off September 27, 2010 BAA’s Sir Nigel Rudd grabbed headlines last week by denouncing the ban on a third runway at Heathrow, claiming it would make the facility a “second-tier airport”. His comments followed an update from the International Air Transport Association (IATA) that forecast a likely 2010 profit of $8.9bn for the global aviation industry – excepting Europe, [...]
THE TIPSTER September 27, 2010 MINING stocks have had a good run recently. With some important economic data due this week in the form of the UK’s GDP and US consumer confidence figures today, some good numbers could push the miners higher. Capital CFDs offers a price of 3,699.1p-3,703.9p for Rio Tinto. Gold’s key resistance level of $1,300 per ounce [...]
The man making MINI cooler – and smaller September 27, 2010 NO car captured Anglo cool like the British Motor Corporation’s Mini of the 1960s, the Mods’ car of choice. Bought by BMW in 1994 (as part of Rover), Mini became MINI in 2000, but remains irresistibly hip; the ride of choice for young British urbanites whose European equivalents would drive Fiats around Rome and Milan; [...]
FIT IN THE CITY September 27, 2010 FITNESS & DIET EXPERT NO matter that the beach season is drawing to a close – give your chest some TLC this autumn. Here’s how. TRAIN CONSISTENTLY: Your chest muscles are a big muscle group that need to be trained regularly and effectively in order for you to see results. You must adhere to your [...]
