BEST OF THE BROKERS December 14, 2011 BUNZL JP Morgan Cazenove rates the outsourcing and packaging group “neutral” with a target price of 835p. The broker has raised its estimates by two per cent to account for forex and acquisitions boosting revenues, and now expects earnings per share of 68.4p next year. JP Morgan sees Bunzl’s trading update this week as an [...]
Wall Street slumps on oil and euro fear December 14, 2011 US stocks fell for a third day and hit their lowest level in two weeks yesterday as widespread risk aversion sank commodity prices, drove the euro to its lowest in a year and pushed Italian bond yields to a record high. Investors are disappointed the European Central Bank is not buying more bonds of troubled [...]
New listing rules and jitters over Europe pull FTSE down December 14, 2011 WEAKNESS in risk-sensitive commodity issues and banks dragged Britain’s FTSE 100 index lower yesterday, with concerns over the Eurozone debt crisis ratcheted up as Italy’s borrowing costs expanded to a record high. Italy had to pay 6.47 per cent on five-year bonds in an auction yesterday, up from a previous euro era record high of [...]
In America, the shale gas revolution is creating jobs and growth. It can here too December 14, 2011 WHEN is a job not a job? Answer: when it is a green job. Jobs in an industry that raises the price of energy effectively destroy jobs elsewhere; jobs in an industry that cuts the cost of energy create extra jobs elsewhere. The entire argument for green jobs is a version of Frederic Bastiat’s broken-window [...]
Russia’s protests are a cry for less state corruption December 14, 2011 ANYONE surveying the scene in Russia today has one name to commit to memory: Alexey Navalny. It would be a gross exaggeration to say that this 35-year-old anti-corruption blogger was responsible for turning out a 50,000-strong protest against a rigged parliamentary election – the largest pro-democracy movement Russia has seen since the collapse of communism. [...]
Minority shareholders need more protection December 14, 2011 I NOTED with interest Andrew Tusa’s article in City A.M. about UK listing rules [Critics of listing rules in the UK should bear in mind how the system actually works, Tuesday]. REAL CONCERNS While Andrew makes some good points about the role of the United Kingdom Listing Authority (UKLA), I am concerned that he possibly [...]
RAPID RESPONSES December 14, 2011 A flatter tax pitch I gratefully acknowledge the coalition’s willingness to embark on a witch-hunt of benefit cheats, but I am not convinced they have the courage to tackle tax cheats with the same vigour. A company I jointly founded some years ago was put into voluntary liquidation as a result of not being able [...]
Comply with Solvency II and boost profits too December 14, 2011 WITH Solvency II set to come into force at the end of 2012, insurers need to make themselves compliant with a new wave of regulatory requirements, aimed at revising capital requirements and risk management, supplanting the existing Solvency rules. But rather than simply being an exercise in regulatory compliance, applying the directive should be seen [...]
THE INTEGRAL ROLE OF IT NETWORKS IN INSURANCE SUCCESS December 14, 2011 WHAT ROLE DOES IT AND THE NETWORK REALLY PLAY IN THE INSURANCE SECTOR? Insurance companies are facing increasing pressures not only from regulation, but from more demanding customers. Aging technology systems just will not fit the bill and insurance executives need to stay focused on using IT and the network to improve core operations including [...]
Embrace new technology to get ahead of the competition December 14, 2011 AS WELL as regulatory compliance, insurance companies are being forced to adapt to new and ever shifting consumer demands. Technology is allowing insurers to innovate with products such as pay-as-you-drive insurance models, but also allows them to change the way that they interact with customers. CHANGING BUSINESS MODELS As in banking, it is no longer [...]
