BEST of the BROKERS June 20, 2012 CHEMRING JP Morgan rates the defence firm “overweight” and has trimmed its target price from 512p to 491p after weaker than expected first half results. The broker points out that Chemring needs to make 67 per cent of its earnings in the next half in order to meet targets – though its order book, up [...]
Invensys surges 27 per cent as talks of bid from US resurface June 20, 2012 SHARES in Invensys surged by 27 per cent yesterday on talk of a bid from US rival Emerson Electric. The rumours suggested Emerson was mainly interested in the company’s controls business and not the rail division, but would be willing to buy the whole lot to achieve its aims. That was enough to see Invensys [...]
Stocks sink on disappointing Federal action June 20, 2012 US stocks edged lower yesterday after the Federal Reserve acted to aid the fragile economy with stimulus measures that were in line with market expectations but went no further. Stocks rallied in recent days in the hope that the US central bank would extend Operation Twist, a bond-buying program designed to lower long-term rates and [...]
Make the hard road to legal partnership easier to tread June 20, 2012 YOUNG lawyers face an uphill struggle in their battle to reach partnership. Rapid, pre-recession growth in legal services seemed to offer so much to graduate lawyers. But this growth has stalled, and now opportunities for internal promotion are severely restricted. Many will feel frustrated that previous avenues for progression have appeared to close off. Jeremy [...]
JOBS of the WEEK June 20, 2012 HR MANAGER LONDON £55k-£75k pa, plus bonus and benefits An asset management firm requires an HR manager to take control of its UK region. Applicants to this new position must have a strong generalist skill set and experience of financial services. http://www.cityamcareers.com/job/16538 PRODUCT LITIGATION LAWYER LONDON £90k-£130k pa A niche litigation and insurance practice requires [...]
Reform, not a bailout, will save Italy June 20, 2012 WITH Greece on life support from the European Union and Spain squirming in the financial vice grip of its insolvent banks, talk of an Italian bailout is nigh. Without a growing economy to generate wealth, Italy is having a hard time convincing current and prospective bondholders that it can pay its debts. But throwing money [...]
Obama is banking on Latino votes but the economy is the issue that unites June 20, 2012 THOSE expecting Barack Obama to provide a rousing campaign speech in Ohio were left disappointed. Instead, the President decided to make headlines the following day, issuing an executive order halting the deportation of illegal immigrants who meet certain criteria. It’s a move that may well have reinvigorated the President’s re-election prospects. Immigration is one of [...]
Banks are unable to assess risks of lending to SMEs June 20, 2012 ALBERT Einstein famously quipped that insanity is doing the same thing over and over again and expecting different results. A lesson, perhaps, that chancellor George Osborne and Sir Mervyn King, governor of the Bank of England, should heed. The Bank of England and the Treasury have announced they’re working together on an £80bn “funding for [...]
Will Vince Cable’s proposals to strengthen shareholder power be good for business? June 20, 2012 YES Richard Saunders It’s a good outcome. These proposals give shareholders more leverage and that will encourage companies to take note of their views. Nobody wants unseemly public rows every year but, equally, companies need to be clear about the links between pay and performance. The series of negative votes in this year’s AGM season [...]
RAPID responses June 20, 2012 Corporate charity [Re: Government should stop meddling and leave pay decisions to shareholders, yesterday] Elaine Sternberg is right to criticise government for trying to force companies to act in the interests of society rather than shareholders. But aren’t many firms doing exactly this of their own account? It’s fine for companies to conduct corporate philanthropy [...]
