Dip in Japanese household spend November 29, 2011 Japanese household spending fell 0.4 per cent in October from a year earlier, government data showed yesterday, in a sign worries about faltering global growth are weighing on consumption.
Thomas Cook takes hit but contagion avoided November 29, 2011 LAST week’s announcement by Thomas Cook that it was seeking an additional £100m in funding created headline news and caused its shares to drop by 75 per cent on the day of the announcement. The impact on the brand’s buzz in YouGov’s BrandIndex was immediate and the decline has continued all week. Having been at [...]
Impax upbeat despite gloom November 29, 2011 Environmental investment fund Impax Asset Management has increased annual revenue 36 per cent to £20.9m despite a “sharp deteroriation” in market sentiment. Funds under management rose four per cent to £1.9bn. Chief executive Ian Simm said the “fundamental drivers” behind Impax’s investment strategy had improved in 2011 although environmental sector stocks “underperformed”.
Hedgies down again in November November 29, 2011 Hedge funds slumped again this month despite hopes a host of Eurozone support deals will stabilise global markets. The average hedge fund fell 1.3 per cent, provisional figures for November show. The industry is down 7.7 per cent for the year to date, according to the HFRX Global Hedge Fund Index. Hedge funds suffered in August [...]
CITY MOVES | WHO’S SWITCHING JOBS November 29, 2011 Brooks Macdonald Asset Management The asset management firm has named Toby Thompson as investment manager for its London office. Thompson joins from New Star where he worked for eight years, following roles at Newton and Eagle Star Investment Managers. Thompson brings with him twenty years experience in the investment industry, and is an associate of [...]
Confidence up in the US but investors wary November 29, 2011 THE Dow and S&P 500 advanced for a second day yesterday as stronger-than-expected consumer confidence data and hopes for further progress on a solution to Europe’s fiscal mess bolstered sentiment. However, in a sign investors are still nervous about the European debt crisis, defensive sectors such as utilities and consumer staples were among the best [...]
Balfour signs new credit facility November 29, 2011 Balfour Beatty, the infrastructure firm, has signed a five-year £850m syndicated revolving credit facility, refinancing a number of bilateral agreements that were due to expire in the next 12-15 months. “[The facility] ensures Balfour Beatty has secured access to committed funding for the next five years and will be used for general corporate purposes,” it [...]
3Legs agrees licence changes November 29, 2011 Exploration and development firm 3Legs Resources has agreed changes to the terms of its three licences in Southern Poland with the Polish Ministry of Environment. The changes enable the company to acquire about 70 kilometres (km) of two-dimensional (2D) and 50 square km of 3D seismic data, to be followed by the drilling of an [...]
Red Rock rises on big profits November 29, 2011 Shares in miner Red Rock Resources were up almost a third at one point yesterday after it announced full year profits had almost tripled. The company said pre-tax profits for the year ended 30 June were just under £14m, up from £4.75m the previous year. Earnings per share rose from 0.65p per share to 1.78p. [...]
Nation’s ailing start-ups get fresh support November 29, 2011 GEORGE Osborne hopes to stimulate Britain’s flagging economic recovery with yet more measures to encourage wealthy individuals to back start-ups. He will extend the Enterprise Investment Scheme (EIS) to offer income tax relief of 50 per cent to individuals who invest up to £100,000 and to companies which provide backing of up to £150,000. The [...]
