BEST OF THE BROKERS January 24, 2012 RYANAIR Espirito Santo rates the airline “buy” and has a target price of €4.60. The broker is expecting the firm to post a net loss of €18m in its quarterly results next week, on revenues of €806m. It thinks Ryanair’s current trading is on track and that the firm’s decision to cut capacity over the [...]
CITY MOVES | WHO’S SWITCHING JOBS January 24, 2012 Liberum Capital Mark Godridge has joined the investment bank as chief executive of its US subsidiary Liberum Capital Inc. He joins from JP Morgan Cazenove, where he has led the European and emerging market sales team since the merger of the two companies in 2010. In the five years preceding the buyout, Godridge was president [...]
Codelco confident of Chile win January 24, 2012 Chilean state copper giant Codelco is confident it will triumph over Anglo American in a bitter legal battle centered on a disputed stake in the global miner’s assets in the country’s south. But it will be a long haul, Codelco’s lawyer Pedro Pablo Gutierrez said. He estimated the battle could drag on for three to [...]
DuPont misses Street forecasts January 24, 2012 DuPont’s quarterly revenue missed Wall Street expectations yesterday as its customers bought fewer solar-panel materials and digital television parts, offsetting strong demand for chemicals used in agriculture. Fourth-quarter profit was slightly ahead of Wall Street’s estimates, however, after DuPont raised prices by an average of 14 per cent. Without the increase, revenue would have been [...]
It’s a fix: Coalition plans for Britain’s energy market are likely to boost fuel poverty January 24, 2012 OVER twenty years since Britain laid the groundwork for electricity privatisation and delivered the most liberalised electricity market in the world, the coalition’s new energy “market” reforms will artificially fix the price of electricity in an effort to support more wind energy and kick-start the building of new nuclear power stations. Top-down controls will distort [...]
Forget the Kate Effect: we need Maggie Power January 24, 2012 IT’S a very dreary landscape out there right now for retailers. Unless, of course, you happen to be one of the lucky few – Burberry is one such brand. It can do no wrong, it seems, and never less so than when the Duchess of Cambridge is seen sporting its togs. After being spotted wearing [...]
Strippers can show us bankers’ just rewards January 24, 2012 THE lap-dancers of Stringfellows, the West End strip club, have already rendered great service to the banking industry. But there is one more service they could provide. By their example, we could answer the questions – now also political issues – of how and how much investment bankers should be paid. Lap dancers receive performance-related [...]
RAPID RESPONSES January 24, 2012 On the money Per Kurowski is absolutely right [Holy moly: Banks were drugged by Basel’s rulebook, yesterday]: the reason for the evolution of the collateralised debt obligation (CDO) debacle and especially the emergence of the synthetic variety of this was that decision making was driven by an artificial “risk structure” for asset holdings propagated by [...]
On its silver anniversary as Olympic sponsor, Visa looks for a golden 2012 January 24, 2012 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES 184 DAYS TO GO Visa Europe’s Colin Grannell explains the three ingredients for the perfect Olympic brand association Q. WHAT WAS YOUR BRAND’S PRIMARY REASON FOR BEING INVOLVED WITH THE GAMES? A. We’ve just celebrated our silver jubilee as a top, worldwide Olympic Games sponsor; London will be [...]
Boxing clever: the new Land Rover January 24, 2012 Right now Land Rover’s design team is halfway through a programme to redesign the world’s most famous 4×4, the Land Rover Defender. The goal is to take the key elements of the iconic car and create a cool, new and modern version of a design that has remained mostly unchanged since 1948. For the time [...]
