MetLife misses expectations December 5, 2011 MetLife expects operating earnings to rise as much as seven per cent in 2012, the largest life insurer in the United States said yesterday, though its forecasts for the fourth quarter and full-year 2011 were below expectations. MetLife said it expects 2011 operating earnings of $5.2bn to $5.3bn (£3.3bn to £3.4bn); and 2012 operating earnings [...]
Toyota to give forecast on Friday December 5, 2011 Toyota Motors will announce an earnings forecast on Friday for the financial year to March 2012, as it steadily restores production disrupted by Thai flooding that forced it to withdraw its outlook a month earlier. Toyota’s output has returned to normal levels at most of its production sites worldwide, although Thai and South African plants [...]
CITY MOVES | WHO’S SWITCHING JOBS December 5, 2011 Hastings Direct Liz Latter has been appointed as head of insurer development at the firm. She will work with Adrian Parry, head of Hastings’ panel development activities for the last two years, who will step back from his full-time commitments in early 2012 to pursue other commitments, but will continue to support the business. Latter [...]
BEST OF THE BROKERS December 5, 2011 PETRA DIAMONDS Goldman Sachs initiates coverage of the Africa-focused miner with a “buy” rating and a target price of 200p, seeing its recent underperformance as a compelling entry point. The broker sees Petra as having a strong growth profile, and says the diamond market is set to enter a period of prolonged tightness. Goldman forecasts [...]
FTSE hits a five-week high on hope of a euro debt plan December 5, 2011 BRITAIN’S FTSE 100 hit a five-week closing high yesterday with optimism rising that politicians can finally agree a deal to solve its debt crisis in a crunch week for the Eurozone. European Union leaders, urged on anxiously by the United States, are seeking agreement on a convincing rescue plan that has eluded them for two [...]
US stocks drop on S&P rate warning December 5, 2011 HOPES that policymakers are working toward a solution to the debt crisis lifted global shares yesterday, but a late-day credit warning from Standard & Poor’s underscored what was at stake. Reports that the warning was coming caused US stocks to cut gains in the afternoon, while the euro retreated. S&P said after the closing bell [...]
Opening up the Oyster card beats charging ahead with TfL’s expensive alternative December 5, 2011 LAST week the London Assembly Transport Committee (LATC) released its report on the future of ticketing in the capital. No big deal, you might think – if you assume the Oyster card seems to function rather well. The heart of the problem is that Oyster is not only far too expensive, but has become so [...]
Why I backed the City A.M. charity appeal December 5, 2011 IF WE’RE serious about tackling global poverty, then aid alone isn’t going to do it. It is the power of private enterprise that can tip the scales. 90 per cent of the jobs created around the world are provided not by governments but by the private sector. Currently, more than 2.5bn people have no bank [...]
Competing currencies versus freed markets December 5, 2011 THE UK hasn’t always had a floating exchange rate, and a reasonably free market in foreign exchange is not to be sniffed at. But is competition always a step in the right direction? According to Friedrich Hayek, the rational choice in monetary regimes is between one of two alternatives – either a free banking system [...]
RAPID RESPONSES December 5, 2011 Paving the way Scott Wilson outlines a new vision for transport [Time to bring our roads into the market economy, Friday]. I congratulate him on opening up the debate. However, he is effectively proposing a long term solution; in the current economic climate, acceptance by government of the need for a redistribution of large annual [...]
