StanChart to see profits grow by 10pc December 8, 2011 STANDARD Chartered confirmed it will see double-digit profit growth this year of at least 10 per cent, helped by a strong performance in emerging markets such as Singapore and Hong Kong. However, the bank said that although it had “a strong pipeline in difficult market conditions”, income in 2011 is now expected to grow at [...]
E&Y to examine its involvement with Olympus December 8, 2011 THE JAPANESE arm of Ernst & Young is to set up an external committee to investigate its audit of scandal-ridden Olympus. The move follows a separate probe into an accounting scandal at the camera maker, which raised issues with its audit and work done by a previous auditor. Ernst & Young ShinNihon said it has [...]
ANALYST VIEWS: WHAT DO YOU MAKE OF STANCHART’S LATEST UPDATE? December 8, 2011 BRUCE PACKARD | Seymour Pierce The bank is currently trading on 1.8 times tangible book value, well ahead of European banks. In one sense we think this is justified given the geographies that StanChart operates in, however we are concerned that the secondary effects of the European bond turmoil will impact Asian trade… Hold. GARY [...]
Helping Scottish rugby on and off field December 8, 2011 TOMORROW we face Doncaster Knights at the Richmond Athletic Ground (3pm kick-off) in what can only be described as a must win encounter. We were very disappointed with the result against Cornish Pirates last weekend. I feel we were on the end of a backlash from the Pirates’ defeat in their previous game, ironically against [...]
LTA appoint Murray’s mum December 8, 2011 TENNIS: The Lawn Tennis Association has appointed Judy Murray as Britain’s New Fed Cup team captain. The mother of British No1 Andy Murray, a former national coach, will also work closely with the LTA player team in mentoring some of Britain’s upcoming female performance coaches. Britain’s women are next in Fed Cup action against Israel in [...]
Sehwag blasts new record December 8, 2011 CRICKET: India batsman Virender Sehwag smashed his way to a new one-day record after scoring 219 from 149 balls against West Indies in Indore. Sehwag’s remarkable innings, which included 25 fours and seven sixes, represents the highest individual score in ODIs, eclipsing Sachin Tendulkar’s unbeaten 200 against South Africa in 2010. India, who went on to [...]
Tullett’s COO to step down after 17 years December 8, 2011 INTERDEALER broker Tullett Prebon abruptly announced that its long-serving chief operating officer Steph Duckworth was leaving yesterday. Duckworth, who spent 17 years with the company after joining its predecessor entity Liberty in the 1990s, resigned yesterday, Tullett said, without specifying when he would go or who would succeed him. A person familiar with his departure [...]
Korhonen out at flagging Fidelity fund December 8, 2011 THE INVESTMENT chief who took over half of Anthony Bolton’s flagship Fidelity fund has left after a series of losses. Jorma Korhonen will be replaced by Jeremy Podger as manager of the £1.5bn Global Special Situations fund. Sudipto Banerji, a veteran Fidelity manager, will take over until Podger arrives from Threadneedle in March. Meera Patel [...]
GOLDEN ARCHES STILL SHINING December 8, 2011 McDonald’s last night reported a bigger-than-expected rise in November sales at established restaurants across the board. The world’s biggest hamburger chain said sales at restaurants open at least 13 months rose 7.4 per cent globally. In Europe, where the chain derives 40 per cent of revenue, same-restaurant sales rose 6.5 per cent.
Mulberry bags a big profit overseas December 8, 2011 MULBERRY, the “affordable luxury” fashion brand whose bags have adorned the arms of Kate Middleton and Kate Moss, yesterday reported a trebling of pre-tax profits to £15.6m. It also saw its half-year retail sales jump 47 per cent year-on-year, buoyed by soaring international demand for its designer handbags. The company reached total revenues of £72.3m, [...]
