FTSE lifted by commodities and Man Group May 26, 2011 The FTSE rose today as commodity stocks received a lift while a series of positive corporate results helped to boost investor sentiment. As G8 leaders gathered in France with the future leadership of the IMF and the eurozone debt crisis at the heart of the talks, global markets regained some lost confidence. Investors once again [...]
Man Group assets rise thanks to bumper Japanese fund May 26, 2011 Man Group, the world’s largest listed hedge fund manager said it is continuing to attract net new money from investors in its hedge funds,while assets under management lifted three per cent to $71bn (£43.5bn) in the period to the end of March. Earlier this month the firm said it had raised $1.5bn for an open-ended [...]
BAT in $452m deal for Protobaco May 26, 2011 British American Tobacco said it had agreed to buy the privately owned Productora Tabacalera de Colombia, the second largest cigarette company in Colombia, for $452m (£277m). The London-based second biggest cigarette maker in the world said the deal will elevate it to second from third place in Colombia, Latin America’s fourth largest cigarette market with [...]
Burberry fast tracks expansion plan as profit soars May 26, 2011 Burberry is stepping up spending on new stores and upgrading existing ones to cash in on a boom in spending on luxury goods, it said as it met forecasts with a 39 per cent leap in annual profit. The British maker of raincoats and handbags, best known for its camel, red and black check pattern, [...]
Tata Steel reports record profit May 26, 2011 India’s Tata Steel warned rising raw material costs could hurt margins for a couple of quarters after posting its highest-ever annual net profit, bolstered by a surge in prices and demand in Asia’s third largest economy. The world’s No.7 steelmaker, whose European operations account for two-thirds of its global capacity of about 28 million tonnes, [...]
Lagarde announces IMF candidacy May 25, 2011 Christine Lagarde has announced her candidacy to be the next head of the International Monetary Fund (IMF). The French finance minister had been an early favourite to replace Dominique Strauss-Kahn, who resigned last week to fight sex assault charges in New York. Lagarde has the support of much of Europe but emerging, co-called BRIC countries [...]
Flights resume as ash cloud clears May 25, 2011 Flights resumed across the UK today rescuing the travel plans of hundreds of thousands of Britons. Air traffic controllers Nats said the country was expected to remain clear until at least 7pm of high levels of ash from the eruption of Iceland’s Grimsvötn volcano. Icelandic weather officials also said no ash plume has been seen [...]
FTSE dips on eurozone fears and slipping commodities May 25, 2011 The FTSE 100 dipped today as jittery investors lost confidence in commodities and remained nervous over the eurozone debt crisis. With raw material prices dropping amid concerns over a slowdown in China, riskier assets were being shunned. Shares in commodities giant Glencore fell as much as three per cent on their Hong Kong trading debut [...]
UK economy grows at 0.5pc May 25, 2011 The UK economy grew by 0.5 per cent in the first three months of the year, official figures have confirmed. The figures were the Office for National Statistics’ (ONS) second look at the GDP data, which were first published last month. Although the manufacturing and service sectors had performed well, the ONS said construction continued [...]
Glencore falls in Hong Kong trading debut May 25, 2011 Shares in Glencore International fell as much as three per cent on their Hong Kong trading debut, dented by concerns over valuations and the outlook for commodities after a lacklustre start in London the previous day. The dual listing in London and Hong Kong puts an end to the drawn-out process of taking the 37-year [...]
