Engineering giant Tomkins closes in on $550m sale of its tyre safety business November 20, 2011 ENGINEERING giant Tomkins is closing in on a sale of its tyre safety arm, with a string of private equity firms understood to be monitoring the asset. The firm’s valves and gauges business could also be hived off in what would be a major restructuring of Tomkins’ Northern Irish business, according to the Sunday Telegraph. [...]
Virgin in tie up with Israel’s Strauss water November 20, 2011 ISRAELI food and beverage maker Strauss Group is setting up a joint venture with Virgin Group’s Virgin Green Fund to sell Strauss Water products in England and Ireland and later on in France, Australia and South Africa. The joint venture, in which Virgin Green Fund will initially invest $7.5m (£4.8m) and Strauss Water $2.5m, will [...]
Twilight takes big box office bite November 20, 2011 The new Twilight vampire movie opened with a massive $283.5m (£180.1m) in worldwide ticket sales over the weekend as passionate fans filled theatres for the beginning of a two-part finale for the hugely popular supernatural love story. “The Twilight Saga: Breaking Dawn: Part 1” captured an estimated $139.5m in the United States and Canada, distributor [...]
North Korea cellphone boom November 20, 2011 Secretive North Korea is expected to register the one millionth cellphone user on its new 3G network by the end of the year, barely four years after people were thrown into prison camps, or possibly even executed, for owning one. Most of the users are in the capital of Pyongyang, home to the impoverished country’s [...]
CITY MOVES | WHO’S SWITCHING JOBS November 20, 2011 Kingfisher The home improvement retailer has appointed Mark Seligman, the former European chairman and chairman of UK investment banking at Credit Suisse, as a senior independent director, effective from 1 January 2012. Seligman will step down from his role as a senior adviser at Credit Suisse at the end of the year. He is also [...]
BEST OF THE BROKERS November 20, 2011 HAMWORTHY Evolution Securities downgrades the marine, oil and gas services firm from add to “reduce” with a target price of 825p after it said it was in talks with Finnish marine engineering group Wartsila over a possible takeover offer. The target price was raised to match the potential offer price, but the broker cut its [...]
Rumoured ECB loans to IMF will keep all eyes on the euro November 20, 2011 ONCE again, investors spent last week battling with the effects of Europe’s ongoing debt crisis. Italian, French and Spanish bonds all fell sharply despite support from the ECB. The European Central Bank bought bonds in the secondary market as part of its Securities Markets Programme (SMP). However, yields on these troubled countries continued to rise [...]
WALL STREET WEEK AHEAD November 20, 2011 WALL Street is in for a volatile run this week as escalating problems in Europe’s debt crisis continue to keep investors on their toes. With light trading volume expected due to the US Thanksgiving Day holiday on Thursday, intraday swings are likely to be wide and frequent as traders instantly react to headlines out of [...]
Elastic money is folly – we are facing a breakdown in our entire monetary system November 20, 2011 What is the disease you diagnose in our monetary system? A. We have a strange monetary system. It is inherently unstable. It’s not the natural outcome of market forces. Most people don’t appreciate that the financial system is designed by politics. It’s a fiat money system based on government-controlled money, issued without limit under [...]
We should worry about taxpayers’ exposure to QE November 20, 2011 THE governor of the Bank of England (BoE) has just sent his ninth letter to the chancellor explaining why he and his impressive team on the Monetary Policy Committee (MPC) have failed to meet the two per cent inflation target for yet another quarter. The chancellor will no doubt reply that the contents of the [...]
