FTSE closes above 5,000 led by miners who now may not face Aussie tax hikes May 26, 2010 BRITAIN’S top share index recovered to close above 5,000 points yesterday, led by miners after reports the Australian government may relax punitive tax measures, while Burberry jumped after strong earnings. The FTSE 100 ended up 97.40 points or 2 per cent at 5,038.08, having tumbled 2.5 per cent on Tuesday to its lowest close since [...]
Dow falls below 10,000 on Eurozone debt worries May 26, 2010 WALL Street staged yet another late-day reversal yesterday to end lower as news suggesting China was reassessing its Eurozone debt holdings pushed investors into profit-taking mode. The Dow closed below 10,000 for the first time since 8 February. The late turnaround in stocks showing investor psyche remains fragile, and investors are inclined to sell strength [...]
C&W positive despite £94m loss last year May 26, 2010 CABLE & Wireless Worldwide has reported losses of £94m in its first set of results since splitting from its regional telecoms operation. C&W Worldwide’s loss for the year was prompted by £210m of exceptional items, including £143m stemming from the recognition of the deficit in its defined benefit pension scheme and £13m of demerger-related costs. [...]
ANALYST VIEWS: WHAT DO THE RESULTS MEAN FOR CABLE & WIRELESS? May 26, 2010 MICK GILLIGAN | KILLIK & CO “These are a credible set of results and investors should take heart from the evidence that the shift towards higher margins is coming through. In addition to the margin improvement over the year, the outlook statement indicates that 86 per cent of the sales pipeline is in higher margin [...]
Gibraltar eyes larger hedge fund sector May 26, 2010 GIBRALTAR is looking to grow as an international destination for hedge funds as the prospect of tighter regulation makes more exotic jurisdictions appear less attractive. Senior figures said the British territory, which is part of the European Union, could benefit from the forthcoming Alternative Investment Fund Managers directive which will make it harder for non-EU [...]
Royal Mail eyes Can Post boss May 26, 2010 CANADA POST chief executive Moya Greene has emerged as the frontrunner to head up Royal Mail. Greene, who has held the top post at the Canadian mail service since 2005, is understood to have held talks with Royal Mail board members and ministers to fill outgoing chief executive Adam Crozier’s role. Royal Mail would not [...]
Iceland told to compensate UK Icesave investors May 26, 2010 ICELAND should ensure that Dutch and British investors in failed bank Icesave receive at least minimum compensation for lost deposits, a European trade body overseeing Iceland’s cooperation with the EU (EFTA) said yesterday. The British and Dutch governments paid out billions of euros to depositors whose funds were frozen in failed online Icelandic bank Icesave [...]
City commercial property figures to tell conference about upward trends May 26, 2010 LONDON’S commercial property market is in an upward swing, according to City figures who feel bullish about the city’s future. A delegation of members from the commercial property sector will today hear the challenges and reality of London’s future as a world city at the annual British Council for Offices. Held for the first time [...]
Commerzbank and Kfw join forces to launch fund May 26, 2010 COMMERZBANK and the German state development bank KfW are planning to launch a massive fund for Germany’s critical small and mid-sized companies dubbed collectively the Mittelstand. The administrative council of the KfW is due to meet on 10 June to decide on the fund, whose volume would be between €300m-€500m, according to the Financial Times [...]
BEST OF THE BROKERS May 26, 2010 THORNTONS Execution Noble reiterates its “sell” rating on Thorntons. The group’s profit warning and the resignation of the chief executive shows that it is time for a new plan, according to Execution, which sees no catalyst for a positive investment case until the appointment of a new chief and the formulation of a plan that [...]
