Warren Buffett: Buy Japanese bargains March 21, 2011 Billionaire investor Warren Buffett believes Japan’s devastating earthquake is the kind of extraordinary event that creates a buying opportunity for shares in Japanese companies. Japan, the world’s third-largest economy, has been battling to bring an overheating nuclear plant under control after it was battered by the 11 March earthquake and tsunami that rattled global markets [...]
Property asking prices up March 21, 2011 Asking prices for houses in England and Wales are 0.9 percent higher than a year earlier, a monthly survey by property website Rightmove showed on Monday. March’s annual rate of growth in asking prices picked up from a reading of 0.3 per cent in February. The month-on-month rate of growth, which is subject to seasonal [...]
Ofgem proposes “electricity auction” March 21, 2011 Energy regulator Ofgem has proposed that the nation’s biggest utilities auction up to a fifth of their electricity generation, as it tries to break their control over the market. Ofgem said its review found competition was being “stifled” by a combination of tariff complexity, poor supplier behaviour, and lack of transparency. “Further, the degree of [...]
Centrica buys New York energy firm for £55m March 21, 2011 Centrica has reported that its North American subsidiary, Direct Energy, has agreed to acquire the New York-based energy retailer Gateway Energy Services for $90m (£55m) in cash. Gateway has more than 275,000 gas and electricity customer accounts, located mainly in New York State, New Jersey and Pennsylvania. This acquisition will further strengthen Direct Energy’s position [...]
Angry Birds creator mulls IPO March 18, 2011 Angry Birds creator Rovio is set for a stock market listing, according to reports from Finland today. The maker of the popular videogame mobile app could be listed on the New York Stock Exchange as early as next year, its chairman Kaj Hed said. Hed first broke the news to Finnish magazine, Talouselama (Economy), where [...]
Gaddafi calls ceasefire after UN approves air strikes March 18, 2011 Muammar Gaddafi’s government said it was declaring a unilateral ceasefire in its offensive to crush Libya’s revolt, as Western warplanes prepared to attack his forces. But government troops pounded the rebel-held western city of Misrata, killing at least 25 people including children, a doctor there told Reuters. Residents said there was no sign of a [...]
Black cab maker Manganese Bronze narrows losses March 18, 2011 Manganese Bronze, maker of London’s traditional black cabs, reported a narrower loss for 2010, and said it was well placed to post a profit this year. The company, which is 20 per cent owned by China’s largest private automaker Geely Automobile said it made a pretax loss of £6.3m, compared to £7.3m in 2009. The [...]
Jupiter revenues jump March 18, 2011 Jupiter Asset Management said revenues soared by 27 per cent in 2010 after the the business pulled in new client funds and increased the money it makes from management fees. Jupiter said total management fees rose to £230.5m from £182.1min its previous fiscal year, reflecting robust investment performance and a 27 per cent increase in [...]
Housing market “stuck in a rut” March 18, 2011 UK mortgage lending remained unchanged last month as the housing market is “stuck in a rut”, according to lenders. February’s gross lending figure of an estimated £9.5bn was almost identical to January’s £9.475 bn, according to new data published by the Council of Mortgage Lenders (CML). “This is going to be a challenging year for [...]
BC Partners buys PHONES 4U March 18, 2011 BC Partners has bought PHONES 4U after months of talks. The fund takes control of the firm from Providence Equity Partners – a price has not been revealed. Providence has been mulling a sale since September after a number of firms signalled their interest in the company. Providence bought Phones 4U from founder John Caudwell in [...]
