FULD INSISTS LEHMAN WAS RISK ADVERSE April 20, 2010 FORMER Lehman Brothers chief executive Richard Fuld, appearing before a Congressional committee yesterday, acknowledged that people were hurt in the collapse of the ex-Wall Street giant. He insisted the bank was risk adverse, and said he had no knowledge of a technique known as “Repo 105” – used to temporarily remove some assets from its [...]
Consumer inflation rises in March due to fuel costs April 20, 2010 ANNUAL consumer price inflation rose more than expected in March, pushed up by higher petrol prices and air fares, as well as by household gas bills, which failed to repeat last year’s record drop. The Office for National Statistics yesterday said consumer price inflation increased to 3.4 per cent last month from three per cent [...]
CITY VIEWS: WHAT IS THE OUTLOOK FOR INFLATION? April 20, 2010 PHIL MARTIN | ARIEL COMMUNICATIONS “Inevitably inflation is going to go up because that is the cyclical trend during a recession. Inflation might go into a standstill but will eventually go up and when it does, interest rates will also go up to compensate.” DON MACFARLANE | LDM GLOBAL “In the short term inflation will [...]
SAB Miller boosted by Latin America April 20, 2010 BREWING giant SABMiller saw its shares rise yesterday after it said its Latin American operation was helping to boost sales amid a sluggish period in the UK and US. The shares climbed three per cent to 1,996p featuring among the top gainers on the benchmark FTSE 100 index. It said lager volumes grew two per [...]
Burberry expects profits to top hopes as rich spend again April 20, 2010 LUXURY goods group Burberry yesterday added to evidence the wealthy are spending freely again, forecasting annual profit slightly above market expectations and further progress next year. Chief executive Angela Ahrendts said: “While the pace and level of the global economic recovery remain unclear, we remain confident that our strategies will continue to build momentum in [...]
ANALYST VIEWS: WHAT DO YOU MAKE OF SABMILLER’S TRADING UPDATE AND THE COMPANY’S SHARE PRICE? April 20, 2010 ANDREW BLAIN | SHORE CAPITAL “SAB has issued something of a mixed trading update. For the 12 months to 31 March organic volumes were flat, which we view as unimpressive given the stock rating and association with emerging markets. However, this is marginally ahead of our forecast.” SAM HART | CHARLES STANLEY “These figures are [...]
NEVER KNOWINGLY UNDERSOLD April 20, 2010 RETAIL partnership John Lewis is rolling out a new £6m advertising campaign – its most expensive ever – as it returns to its roots by emphasising its “never knowingly undersold” proposition. The campaign features a woman progressing through the key phases of her life and how the John Lewis brand accompanies her at every stage.
Mourinho’s Inter stun Barca April 20, 2010 INTER MILAN (3) v/s BARCELONA (1) LIVERPOOL may be taking more than 24 hours to get to Madrid, but Inter Milan needed just 90 minutes last night to take a huge stride towards the Spanish capital and the final of the Champions League. Jose Mourinho’s team recovered from conceding an early goal to convincingly beat [...]
ASOS remains firmly in fashion April 20, 2010 Online fashion retailer ASOS yesterday said it expects full-year profit to meet market expectations after annual sales rose a third and said the new year had started well, helped by continued growth overseas. The firm, which targets internet-savvy 18-34 year olds looking to emulate the designer looks of celebrities like Kate Moss, Sienna Miller and [...]
MGM’s troubles hurt Craig April 20, 2010 Financial difficulties at MGM studios, which is reported to have a $3.7bn (£2bn) debt, have led to fears over Daniel Craig’s future as James Bond after the latest film was put on hold. Fans are concerned that a long delay could lead Craig to walk away from the role before his third appearance makes it [...]
