Deutsche Bank fined £4.7m for misreporting market transactions August 28, 2014 BRITAIN’S financial watchdog yesterday fined Deutsche Bank £4.7m for wrongly reporting a number of market transactions for nearly six years. The Financial Conduct Authority said in a statement that the bank had failed accurately to report its contract-for-difference (CFD) equity swaps, totalling £29m, it executed between November 2007 and April 2013. CFDs allow a buyer [...]
Malaysia Airlines reports £690m loss and warns of turbulent 2014 August 28, 2014 ILL-FATED Malaysia Airlines yesterday reported massive second quarter losses on the back of two tragedies that hit the flag carrier this year. The airline lost 3.59bn Malaysian ringgit (£690m) in the quarter ending 30 June, a five per cent fall on the same period last year. Average weekly bookings fell 33 per cent, with numerous [...]
Rising fuel costs and fleet write down hit Qantas as shares rally August 28, 2014 AUSTRALIAN airline Qantas yesterday announced a loss of AU$ 2.8bn (£1.57bn), blaming the rising cost of fuel. The airline also cited a AU$2.6bn write down on its international fleet and poor consumer spending as reasons for the devastating results. The record figure was considerably larger than the AU$750m analysts were expecting and marked a second [...]
Aeroflot dives into the red August 28, 2014 RUSSIAN carrier Aeroflot yesterday announced first-half losses of 1.9bn roubles (£31m) blaming “significant one-off events and a weaker rouble”, down from a 45m rouble profit in the same period last year. It announced a nine per cent rise in revenues, due mainly to the Sochi Winter Olympics. Aeroflot was forced to suspend flights of its fledgling [...]
Best of the Brokers for 29 August 2014 August 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com N BROWN GROUP Investec has kept a “buy” rating, but cut the target price to 520p from 550p. The broker thinks while there are a plethora of new initiatives, the benefits from the implementation of a more retail and marketing-led trading strategy are [...]
London Report: Ukraine tension and ore prices weigh on FTSE August 28, 2014 A RATCHETING up of tension in Ukraine yesterday took its toll on Britain’s top share index, knocking it back from its highest closing level in nearly two months. Ukrainian President Petro Poroshenko said Russian forces had entered his country and the military conflict was worsening after Moscow-backed separatists swept into an eastern town. The blue-chip [...]
New York Report: Wall St takes a tumble over world concerns August 28, 2014 US STOCKS edged lower yesterday, after the latest tension between Ukraine and Russia snapped the focus of investors back to the volatile region. However, a trio of economic reports pointed to improving conditions and helped mitigate declines. The second reading of gross domestic product showed the US economy rebounded more strongly than initially thought in [...]
29 August on this day… August 28, 2014 1986: BRITAIN’S Daley Thompson leaves rival Jurgen Hingsen trailing in the 110m hurdles on his way to winning the decathlon at the European Championships. Thompson won eight decathlon golds in major championships – Hingsen’s four silvers were all behind him – and held the world record four times, setting his last at the LA Olympics [...]
Spurs won’t be left red-faced by Liverpool this time August 28, 2014 BEN CLEMINSON PREVIEWS TOTTENHAM V LIVERPOOL AND EVERTON V CHELSEA “WE’VE sold Elvis but bought the Beatles,” was how former Tottenham striker Garth Crooks memorably described last summer’s transfer dealings at White Hart Lane. In the end it was less Fab Four and more a case of Faith No More, after a campaign that failed [...]
Chelsea can improve on recent dodgy Goodison record August 28, 2014 CHELSEA have begun the season in ominous style with back-to-back wins getting them off to a perfect start. Those victories might have come against Burnley and Leicester but – to borrow a cliche from page one of the football phrase book – you can only beat what’s in front of you. Indeed, those matches have [...]
