Chrysler warning hits Fiat July 30, 2013 Fiat’s US unit Chrysler, which generates most of the group’s net profit, lowered its outlook yesterday as it struggled to fill orders due to parts shortages, sending the Italian carmaker’s shares down four per cent. In recent quarters, Chrysler’s booming US sales have compensated for Fiat’s losses in Europe. Fiat-Chrysler boss Sergio Marchionne said Chrysler [...]
City Moves for 31 July 2013 | Who’s switching jobs July 30, 2013 Aviva Investors The asset management business has announced the appointment of Abigail Herron as head of engagement in its global responsible investment team. She joins from Co-operative Asset Management, where she headed its corporate governance function. Baker Tilly Alex Birch has been appointed associate director in the advisory firm’s restructuring and recovery team. Birch has [...]
Best of the Brokers for 31 July 2013 July 30, 2013 JD WETHERSPOON Deutsche Bank has maintained its “hold” rating on the value pub chain but raised its target price from 520p to 660p after better than expected final-quarter figures. The analyst notes improved sales with cautious optimism, although performance has been volatile, with 14 forecast changes in three years. GEM DIAMONDS Charles Stanley has reiterated [...]
London Report: FTSE shrugs off Barclays rights issue to tick up July 30, 2013 UPBEAT earnings from leading companies nudged Britain’s benchmark equity index higher yesterday, enabling the market to offset a slump in Barclays after the bank announced plans for a $9bn capital hike. The blue-chip FTSE 100 index closed up 0.2 per cent, or 10.70 points, at 6,570.95. Engineer GKN topped the leaderboard with a 6.5 per [...]
New York Report: Wall Street flat after shares in potash plunge July 30, 2013 THE DOW and the S&P 500 finished nearly flat yesterday, helped by gains in technology shares and Pfizer, while potash shares were the day’s big losers. The tech sector index rose 0.7 per cent, leading the S&P 500’s advance. Shares of Facebook jumped 6.2 per cent to $37.62, within striking distance of their $38 IPO [...]
Hamstringing banks with higher capital requirements will not stop the next crisis July 30, 2013 GREAT fallacies periodically grip the British establishment and cause enormous harm to the economy. The last big one was the obsession with joining the European Exchange Rate Mechanism at the end of the 1980s. Now we have the regulative fallacy. The great and the good are in its grip. They identified banks and excessive debt [...]
Against the Grain: It’s time we were more optimistic about our brewing economic recovery July 30, 2013 THE POSITIVE GDP growth figures for the second quarter of this year have sent most people away on their holidays in a cheerier mood than last year. The recent weather has certainly helped. But gloomy clouds may hover over the exclusive Tuscan villas and beach houses in Martha’s Vineyard, where bien pensant commentators and so-called [...]
Why UK charities rarely benefit from the rise in corporate volunteering July 30, 2013 BUSINESSES are under the cosh. They feel under pressure to show that they care about more than just maximising profits whatever it takes, and are keen to demonstrate their wider role to customers, to the public, and to their own staff. One way of doing this is by getting their employees to volunteer to help [...]
Letters to the editor – 31/07 – Green policies, Tax relief, Best of Twitter July 30, 2013 Green policies [Re: Ruinous green policies mean rising profits for UK energy companies, yesterday] I live in Wyoming County of New York State, where we already have 250 430 foot wind turbines, with 58 more due this summer. Those who live within the footprint of these wind factories have seen the value of their homes plummet. [...]
Restaurant review: Baiwei July 30, 2013 8 Little Newport Street, WC2H 7JJ Tel: 020 7494 3605 FOOD Two stars VALUE Three stars ATMOSPHERE One star Cost per person without wine: £25 I find Chinatown incomprehensible. It’s an ever-shifting tangle of restaurants and takeaways and bars and brothels. It morphs and skews before your eyes. You can sit down in one restaurant, [...]
