Nissan impresses with profits November 2, 2011 Nissan Motors posted better-than-expected quarterly profits and lifted its annual earnings and sales forecasts yesterday, shaking off worries about the Thai floods and the global economy. For the July-September quarter, Nissan said operating profit fell 4.6 per cent to ¥159.3bn. Second-quarter net profit was ¥98.4bn, down 3.3 per cent, while revenue rose 0.7 per cent [...]
Gem upbeat despite price drop November 2, 2011 Africa-focused miner Gem Diamonds has reported a strong operational performance since July despite a softening in rough diamond prices. The company said its Letseng and Ellendale mines both achieved good prices in recent sales, and that the grade per carat increased 39 per cent to 1.63 carats per hundred tons. The miner also said it [...]
Volatility boost for Exchange November 2, 2011 US-based exchange and clearinghouse operator Intercontinental Exchange yesterday reported a 38 per cent rise in profit for the third quarter, as high volatility in the quarter drove robust US and European futures trading. Both adjusted earnings and revenue beat analysts’ expectations. The company’s net income for the third quarter was £83.2m up from £60.4m last [...]
CITY MOVES | WHO’S SWITCHING JOBS November 2, 2011 Brookfield Asset Management The property, renewable power and infrastructure asset manager has appointed Julian Schiller as senior vice president in the global private funds group in London. He will look after European and Middle Eastern investors and assist in broader business development for the real estate group, working alongside Barry Blattman and Martin Jepson. Schiiler [...]
FTSE 100 swings up on rosy corporate earnings November 2, 2011 BRITAIN’S top share index rose yesterday, regaining half the previous day’s fall and bucking a three-day slide, buoyed by earnings news and US data in a volatile session that was overshadowed by the hazy Eurozone debt-crisis outlook. Mining and oil firms were among the best performers, helped by rising crude and metals prices, as well [...]
Wall Street makes gains in spite of low trading volumes November 2, 2011 US stocks rebounded from two days of sharp losses yesterday after the Federal Reserve said it is prepared to do more for the economy if conditions warrant, helping to stanch the panicky reaction to Europe’s debt crisis. Trading volume was light, however, possibly signaling that worries about Greece hold greater sway than the Fed at [...]
Time to reach for the stars: Britain’s new space industry has the potential to blast off November 2, 2011 SIR RICHARD Branson opened the world’s first commercial spaceport last month. As his new venture Virgin Galactic recognises, space is an industry where the sky’s not the limit. For too long the domain of superpower rivalry between America’s Nasa and Russia’s Federal Space Agency, space is now giving way to the private sector, funded by [...]
To secure credit in the future we need clear rules November 2, 2011 THE latest uncertainty over a Greek referendum to agree debt writedowns demonstrates, now more than ever, that reliance needs to shift from banks to the securities market for the risk capital needed to fund future economic growth. The G20, which meets today, therefore needs to take steps to revive risk capital markets to support growth, [...]
If the City didn’t exist, we’d need to invent it November 2, 2011 WHAT have financial services ever done for me? It is a question that the Occupy the London Stock Exchange protesters could well ask themselves, as they bring the church (rather than capitalism) to its knees. The public debate about financial services has focused on bonuses and risks, but there has been virtually no discussion of [...]
RAPID RESPONSES November 2, 2011 Rites and wrongs I think Allister Heath [Why the Archbishop has got it wrong, yesterday], fails to understand the Church of England. There is plenty of room for Anglicans to disagree. Indeed, the Church of England was founded on dialogue. Moreover, theology is not much interested in the capitalism versus socialism debate. Rather, Rowan Williams [...]
