French PM: bank bonuses must fall November 2, 2011 FRENCH Prime Minister Francois Fillon yesterday urged the nation’s banks to show restraint in paying out dividends to shareholders and called for any bonuses based on 2011 results to be “significantly lower”. Fillon, speaking after a meeting with leading banks, also said the lenders confirmed they would not need state capital injections to bolster core [...]
S&P firms on track to beat expectations November 2, 2011 MORE THAN seven in ten companies in the S&P 500 have beaten forecasts with their results so far this earnings season, figures from Thomson Reuters show. Of the 370 or so firms to have revealed their third-quarter results, 19 per cent have missed forecasts and 11 per cent have matched expectations – but seventy-one per cent [...]
MasterCard says consumers are still spending as its net income jumps 38pc November 2, 2011 MASTERCARD reported sharply higher third-quarter profit yesterday, easily beating Wall Street estimates on double-digit increases in volumes. The company’s chief executive also said on a conference call with analysts that consumers were still spending despite economic uncertainty, though growth comparisons will start to get harder from this month. The New York-based card processing company reported [...]
NEWS CORP PROFITS SLIP BUT EXCEED FORECASTS November 2, 2011 RUPERT Murdoch’s News Corp last night posted better-than-expected adjusted quarterly profit, even as the company struggles with speculation about future leadership at the family-controlled media conglomerate. Fiscal first quarter profit came in at $738m (£463m), down from $775m last year.
Polymetal in debut day on London exchange November 2, 2011 RUSSIA’S fourth biggest gold miner Polymetal was yesterday officially admitted to the London Stock Exchange after switching from a Moscow listing. The move follows a £491m share placing that values the company at £3.55bn. The placing was priced at £9.20 – the bottom of the range that was set between £9.10 and £10. Sources said [...]
Russian IPO concerns could see oligarch-free FTSE index November 2, 2011 LARGE foreign-controlled companies that list in London could be blocked out of a new FTSE index as investors are so concerned about poor governance, FTSE Group said yesterday. The index provider has asked market users if they want a new index that strips out firms with low free floats, or makes them meet tough governance [...]
MAN hit by low European sales November 2, 2011 GERMAN truck and bus maker MAN said Europe’s commercial vehicle market had put the brakes on in the third quarter, and warned that demand would likely remain muted in the region for the rest of the year. MAN’s operating profit fell by one per cent to €321m (£277m) in the three months through September and [...]
ICE profits rise on volatility November 2, 2011 INTERCONTINENTALEXCHANGE’S quarterly profit jumped a better-than-expected 38 per cent as high volatility in the quarter drove robust US and European futures trading. ICE’s futures trading and clearing revenues were up 24 per cent from last year on the back of a 23 per cent jump in trading volumes. The popular Brent crude and Gasoil contracts [...]
Balotelli and Toure set City up for Napoli crunch clash November 2, 2011 VILLARREAL 0 vs MAN CITY 3 MANCHESTER CITY manager Roberto Mancini believes his side will face the acid test of their Champions League aspirations in a winner-takes-all clash against Napoli in three week’s time. The Premier League leaders took just one point from their opening two fixtures in the competition, but back-to-back wins over Spanish [...]
Rooney happy to be United’s new Scholes November 2, 2011 MAN UNITED 2 vs OTELUL GALATI 0 MANCHESTER UNITED manager Sir Alex Ferguson insists he’d have no issue playing Wayne Rooney in central midfield against heavyweight opposition after the striker impressed in an unfamiliar role last night. Last season’s runners-up leapt to the top of Group C following a less than straightforward victory against modest [...]
