Profits up for Johnson on demand jump July 21, 2010 British speciality chemical company Johnson Matthey yesterday said first-quarter profit jumped 47 per cent as it recovered from a slump in demand, and forecast an improved full-year performance. The platinum refiner and world’s largest supplier of catalytic converters said yesterday Apri to June sales excluding precious metals rose 32 per cent on the 2009 period, [...]
Rail ticket machines confuse July 21, 2010 AARAIL ticket machines are confusing which leads to passengers overpaying for fares, said an industry watchdog yesterday that called on train companies to simplify the system. Research conducted by Passenger Focus found that overly complicated ticket machines found in UK train stations forced customers to pay higher fares and wait in longer queues. The consumer [...]
BDO called in as joint administrator of Halliwells as law firm sells off business July 21, 2010 BDO HAS been appointed as administrator of collapsed legal outfit Halliwells as rivals move in to buy up the firm’s assets. Restructuring partners Dermot Power and Shay Bannon at BDO were appointed as joint administrators of the Manchester-based firm late on Tuesday night just before the company agreed on sales to rival firms. Barlow Lyde [...]
Dana expands in Egypt with Nile Delta venture July 21, 2010 OIL and gas explorer Dana Petroleum has agreed to acquire a 50 per cent stake in a potential oil field off the coast of Egypt from rival BG Group, boosting its prospects in Africa. The Aberdeen-based firm said yesterday it has agreed to fund the cost of the next exploration well in the Nile Delta, [...]
CITY MOVES | WHO’S SWITCHING JOBS July 21, 2010 BANK OF IRELAND The bank has appointed Bill Greaves to the position of head of corporate banking in the UK. Greaves previously led the bank’s technology, media and telecoms team, which he established in early 2005 upon joining the group. Prior to that, he led the media team at Barclays. In his new role, he [...]
BEST OF THE BROKERS July 21, 2010 GOLDMAN SACHS JP Morgan Cazenove rates Goldman Sachs as “overweight” despite disappointing second quarter results. JP Morgan said that it has lowered its earnings per share predictions for Goldman, but believes the bank still maintains a strong position in its peer group, and that its potential for restructuring could help offset any negative impact. GOLDMAN [...]
London breaks five days of losses on strong US earnings July 21, 2010 BRITAIN’S leading shares broke a five-day losing streak yesterday after upbeat corporate earnings from the US and positive mergers and acquisitions sentiment spurred a rebound, led by banks and commodities. The FTSE 100 closed up 75.18 points, or 1.5 per cent, at 5,214.64, having shed 2.5 per cent over the previous five sessions. UK Banks [...]
Wall St falls after dour Bernanke view July 21, 2010 FEDERAL Reserve Chairman Ben Bernanke’s dour assessment of America’s recovery hit US stocks yesterday, as the Fed chief’s comment on “unusually uncertain” economic prospects discouraged investors. Stocks sank after Bernanke acknowledged the labour market’s continued weakness while offering few specific options to stimulate lending and investment. “The market sold off because unfortunately there is no [...]
Volatility can’t keep the FTSE down for long July 21, 2010 THE UK equity market has lacked a champion of late, but analysts at UBS are taking up that mantle. They argue that the FTSE 100 will end the year at 6,250, about 1,000 points above its current level. But the road toward a higher FTSE will not be smooth. Stress test results for the European [...]
THE TIPSTER July 21, 2010 THE vacillations of euro-US dollar are never far from the headlines. And this week is no exception – the Eurozone stress test results are scheduled for tomorrow and Federal Reserve chairman Ben Bernanke is continuing his testimony today. Euro-dollar has recovered an impressive 9.5 per cent since its low of $1.1875 on 7 June. But [...]
