SeaFrance suspends services November 15, 2011 Channel ferry company SeaFrance yesterday cancelled all its Dover to Calais services ahead of a court hearing today to determine its future. SeaFrance said the 48 hour suspension had been agreed with French national authorities “to safeguard the security of the passengers, crews, vehicles and ships” while a make-or-break court hearing decides whether to sell [...]
TalkTalk loses market share November 15, 2011 TalkTalk has succumbed to intense pressure from BT and Sky in the broadband market in recent months, shedding a net 70,000 customers. Revenues for the first six months fell 4.8 per cent to £844m but profits surged 36 per cent to £68m. Its net debt remained broadly flat at £475m.
Henderson’s China fund is biggest riser November 15, 2011 A GAIN of more than 30 per cent made Henderson’s China vehicle the top equity fund performer in October, according to new research. The 32.42 per cent monthly rise put the $175m (£110m) Henderson HF China fund, run by Caroline Maurer and Andrew Mattock, ahead of Legg Mason’s Brazil Equity Fund on 25.24 per cent, [...]
Worries among rich clients cut revenues for Swiss Life November 15, 2011 SWITZERLAND’S biggest life insurer said premium revenues fell by a fifth in the third quarter to SwF2.8bn (£1.9bn), as wealthy clients fearing for their privacy stayed away from investing in its funds. Swiss Life said a healthy ten per cent growth in its Swiss corporate pensions and life business was wiped out by a 48 [...]
HarbourVest’s fund ups NAV November 15, 2011 INVESTMENT scheme HarbourVest Global Private Equity yesterday said its net asset value (NAV) rose 1.5 per cent last month. The listed fund of funds said NAV per share hit $11.19 (£7.06), up from $11.02 on 30 September. The rise was driven by increases in the value of its publicly traded holdings and foreign currency movements [...]
Johnston Press ad sales slump November 15, 2011 SHARES in struggling regional newspaper publisher Johnston Press inched up yesterday despite reporting another slump in advertising. The debt-laden group said print and digital advertising sales for the 18 weeks to 5 November fell eight per cent year-on-year as the faltering economic recovery hit business’ spending. Johnston, whose top titles are The Scotsman and The [...]
Supermarket price war dents inflation November 15, 2011 CONSUMER price inflation in the UK dropped slightly in October, figures out yesterday from the Office for National Statistics (ONS) revealed, though it remains well above the Bank of England’s target. Headline CPI inflation fell from 5.2 per cent in the year to September to five per cent last month. A 0.9 per cent fall [...]
US recovery keeps pace as retail and manufacturing rise November 15, 2011 US RETAIL sales expanded in October, while the decline in manufacturing came to a halt, according to upbeat figures released yesterday by the Commerce Department and the New York Fed, boosting hopes that the US will avoid the slump hitting many European economies. Sales increased by 0.5 per cent month-on-month and were 7.2 per cent [...]
IMF: FREE UP CHINA’S BANKING SYSTEM November 15, 2011 THE IMF, headed by Christine Lagarde, has warned China needs to address its banking system’s vulnerabilities. The country needs to liberalise its financial markets to give banks and investors more freedom, allowing them to better react to any future credit, property or currency shocks, the Fund said yesterday.
Fed leaders split on QE impact November 15, 2011 Increasing asset purchases would risk higher inflation, St Louis Fed president James Bullard said yesterday – though Chicago Fed boss Charles Evans said he policy could be extended to provide an extra boost to the economy. “Asset purchases are a potent monetary tool,” said Bullard. “They must be used carefully because increases in the size [...]
