City Moves for 9 January 2013 | Who’s switching jobs January 8, 2013 Carmignac Gestion Anne Bellavoine has been appointed head of marketing at the asset management firm. She joins from Societe Generale, where she was most recently relationship manager for financial institutions. Bellavoine has over 25 years’ experience in the industry, and was additionally global head of equity sales at Societe Generale and chairwoman of SG Securities. [...]
Best of the Brokers January 8, 2013 TUI TRAVEL Morgan Stanley yesterday downgraded the travel company from “equal weight” to “underweight” with a target price of 250p, expecting seasonal losses to be higher due to an accounting change and poor cash flow. However, the analyst still sees Tui Travel as a “well-managed business, with strong market shares in European tour operating” that [...]
FTSE slips over bearish expectation for Chinese data and US corporates January 8, 2013 BRITAIN’S blue chip shares slipped yesterday, hampered by profit taking on mining stocks ahead of economic data from China, and as the US corporate earnings season came into focus. Miners shed 0.7 per cent as investors, gearing up for data out of top metals consumer China in the next two weeks, including fourth-quarter GDP, moved [...]
Results season start drags on cliff euphoria January 8, 2013 US stocks fell yesterday, retreating from last week’s rally on the “fiscal cliff” deal in Washington, as companies started to report results for the fourth quarter. After a 4.3 per cent jump in the two sessions around the close of the fiscal cliff negotiations, the S&P has declined a bit, with investors finding few catalysts [...]
Further efficiencies are critical to making London’s railways thrive January 8, 2013 COMMUTERS finally have some welcome news. Just a week after inflation-busting fare increases came into effect, rail industry leaders have announced Britain’s biggest investment in infrastructure since the Victorian era. Look around any train or station serving London in the morning peak and the case for improvements is overwhelming. Many are packed or overcrowded. Londoners [...]
The simplest ideas can offer the deepest insights into how markets work January 8, 2013 TRAGEDY struck at a mid-week game played during the holiday season in Football League Division Two. The pies ran out in the home supporters’ bar. The incident may seem trivial to those not involved, but it illustrates some important themes in economics, which have even gained their inventors the Nobel Prize. It turns out that [...]
Were MPs right to cap the benefits rise at 1 per cent? January 8, 2013 Yes Ryan Bourne THE government is struggling to control borrowing and this is partly due to a 5.9 per cent increase in net social security payments this financial year compared with last. Many benefits were uprated by 5.2 per cent for 2012-13 because of high consumer price index inflation in the previous year, when average [...]
Rapid responses January 8, 2013 Planning inflation [Re: Daft planning rules are pushing up the price of food in shops, yesterday] While it is always good for an article about planning policy to focus on commercial property rather than housing, and while the academics cited may have delivered interesting papers, let’s not use this work to justify more fiddling with [...]
Fundamentally weak economy to punish pound January 8, 2013 LAST year was great for the sterling bulls. The currency appreciated against the dollar and yen, and edged the euro. But sterling’s gains were driven by weakness in other economies – not by any strength in Britain’s own economic fundamentals. As global headwinds begin to calm, attention has been focusing on the vulnerable pound. In [...]
The XFR is a truly astonishing beast January 8, 2013 WHEN Jaguar Cars came up with the inspired tagline “Grace, space and pace” in the 1960s, they set up their stall as a brand that considered overt displays of power somewhat vulgar. Even this XFR model, despite its capacity to boost you up to speeds that will make your hair stand on end, looks more [...]
