Consort’s profit rises on strong Bespak growth December 1, 2011 BRITISH inhaled-drug specialist Consort Medical yesterday reported higher first-half pre-tax profits on strong volume growth at its Bespak unit’s core respiratory business. The company, which specialises in making asthma and anaesthesia medical devices, said it expects full-year results slightly ahead of expectations. For the May-October period, Consort reported pre-tax profits before special items of £10.2m, [...]
CITY MOVES | WHO’S SWITCHING JOBS December 1, 2011 UniCredit The Italian commercial bank has hired Laurent Dupeyron, previously chief executive officer of Olympia Capital Management, to be the global head of wholesale and institution equity derivatives distribution. Prior to Olympia, from 1996 to 2008, he worked for Goldman Sachs in various positions in the equity derivatives and equity finance businesses, mostly as an [...]
BEST OF THE BROKERS December 1, 2011 RPC GROUP JP Morgan rates the plastic packaging group as “overweight” and raises its target price to 410p from 394p, after the company reported more than 100 per cent growth in interim adjusted operating profit to £45.4m – seven per cent above the broker’s estimate. JP Morgan increases its operating profit estimates in 2012 and 2013 by [...]
Commodities drag FTSE 100 down as euphoria wears off December 1, 2011 THE UK’s leading share index closed lower yesterday, led by weaker commodity prices, as earlier gains were reversed in tandem with a weaker showing on Wall Street as Wednesday’s boost from central bank intervention moves proved short-lived. At the close, the FTSE 100 index was down 16.08 points or 0.3 per cent at 5,489.34, just [...]
Wall St slips ahead of key jobs report December 1, 2011 US stocks trod water yesterday after the previous day’s massive gains, but traders worried that recent strong data could set the market up for a sell-off should today’s jobs report fall short of hopes. Both the Dow and the S&P 500 dipped and the Nasdaq ended with a slight gain following Wednesday’s rally of more [...]
Time to bring our roads into the market economy: A bold vision for better transport December 1, 2011 IMAGINE a private utility that charged customers the same regardless of the service it provided. Imagine it raises £32bn in revenue per annum from those customers, but spends less than a third of it on maintaining and upgrading its assets. Everyone depends on its service, yet it is unreliable, frequently overwhelmed by demand and in [...]
The EC proposals for audit reform: A costly mistake December 1, 2011 THE European Commission has pulled off some feat with its proposals for audit market reform this week. It has united businesses, investors, the Big Four (Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers) and even on some points emerging and mid-sized auditors in their criticism of the proposals. How? Because the measures the Commission proposes won’t [...]
Looking the other way on the lip of the abyss December 1, 2011 WE ARE approaching an economic event horizon. “Almost anything could happen in the next few months,” says Paul Tucker, deputy governor of the Bank of England, advising banks to prepare to withstand the worst. The exceptional coordinated action of central banks on Wednesday has been widely seen not just as offering temporary relief to the [...]
RAPID RESPONSES December 1, 2011 Criticism, audited I welcome Mario Cientanni’s support for our proposals to increase audit exemptions [Red tape around audit is proving hard to untangle, yesterday]. I don’t agree that banks will continue to require audits as a condition of borrowing, and the British Bankers Association backs this up. We realise that not all companies will wish [...]
Christmas gift guide December 1, 2011 • Stocking fillers • Gadgets • Ages 16-24 • For men • For women
