DS Smith cheers rising turnover October 27, 2011 Shares in recycled packaging company DS Smith climbed more than five per cent yesterday after it said like-for-like sales of its key corrugated products in the first half of its current financial year had climbed three per cent on a year ago. The company said the improvement was against tough comparatives from last year and was [...]
Profits up at Croda International October 27, 2011 Croda International posted a higher third-quarter profit on improved performance at its consumer care business, and said it expects further progress into 2012. The company, which makes chemicals for cosmetics, healthcare and home care industries, said sales rose 13 per cent in consumer care products and were well ahead of 2010 in all business areas. [...]
CITY MOVES | WHO’S SWITCHING JOBS October 27, 2011 Otkritie Financial Corporation Howard Snell (pictured) has been appointed as the chief executive of Otkritie Securities in the UK, reporting to Vadim Belyaev, who has been appointed as chairman of the board of directors at the group’s investment banking arm Otkritie Capital. In addition, Roman Lokhov has been promoted to first deputy chairman of Otkritie [...]
BEST OF THE BROKERS October 27, 2011 TATE AND LYLE Ahead of first half results next Thursday, Citi rates the sweetener company as “neutral” with a target price of £6.35. The broker forecasts revenues up three per cent to £1.4bn, operating profit up 8.3 per cent to £181m and earnings per share of 27.3p, a lift of 16 per cent. Citi expects [...]
Euro exuberance pushes the FTSE near three-month high October 27, 2011 BRITAIN’S top share index jumped to a near three-month high yesterday as bullish investors uncorked their champagne bottles and toasted Europe’s plan to tackle its debt crisis. The upbeat news from Europe boosted appetite for riskier assets such as banking and commodity stocks, which helped the UK’s benchmark index surge 160.58 points or 2.9 per [...]
Best month in 37 years for the S&P October 27, 2011 US stocks surged three per cent yesterday as an agreement by European leaders to help contain the region’s two-year debt crisis lifted a cloud hovering over markets. Optimism that a deal would be struck to prevent widespread financial distress fueled the market’s rebound in October. The S&P 500 is up more than 13 per cent [...]
Happy birthday, Baby Seven Billion – more human beings are good news for the planet October 27, 2011 A CHILD is born. Hurrah – a time for celebration. Babies usually bring out the optimist in people. “What a joy” we coo over a bundle of potential in swaddling – this could be the new Einstein, a modern Joan of Arc, a future Steve Jobs. However, there seems widespread reluctance to pop the champagne [...]
The latest euro deal isn’t pretty in cold daylight October 27, 2011 ANOTHER summit gone and another Greek bailout plan to assess in the cold light of day. On the surface this one sounds promising: a 50 per cent write down for Greek bondholders and €130bn in new bailout funds – should sort things for a while, right? Well, unlike in previous rounds, Wednesday’s meeting between Eurozone [...]
The Vatican’s imperial economic plan is naive October 27, 2011 THE Vatican waded into the debate over the financial crisis this week, when the Pontifical Council for Justice and Peace released a paper titled Toward Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority. Despite some interesting analysis, as Robert Sirico of the Acton Institute has pointed out, on [...]
RAPID RESPONSES October 27, 2011 Big after the Bang Reading yesterday’s comment by Terry Smith, I can’t help but reflect that there were very few, if any, “Terry Smiths” working at the top of firms in the City before the deregulation implemented in the Big Bang. For better or for worse, the gentleman’s club of the Square Mile has been [...]
