Why buying property is no panacea September 8, 2011 ANYBODY interested in the housing market and in trying to preserve their wealth in these uncertain times should take a look at a fascinating new book. Safe as Houses: a Historical Analysis of Property Prices is full of useful facts – and a stark reminder that investing in residential property isn’t as sure a bet [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 8, 2011 FINANCIAL TIMES DEADLINE LOOMS TO OUT SECRET SUITORS Companies covertly circling UK acquisition targets are being warned by advisers that they risk the disclosure of their identities to the market in coming days if they pursue bid talks. On 19 September, the UK Takeover Panel, which regulations M&A of public companies, brings into force new rules [...]
SAP admits Oracle charges September 8, 2011 SAP last night said it pleaded guilty to unspecified charges in a criminal case involving unauthorised access to computers maintained by software rival Oracle. The US Department of Justice prosecutors yesterday charged SAP’s defunct TomorrowNow Inc unit with 11 counts of unauthorised access to an Oracle computer, and one count of criminal copyright infringement, according [...]
Twitter sets out business stall September 8, 2011 Social network Twitter tried to convince investors of its business credentials yesterday as it set out a business case and passed the milestone of 100m users. Chief executive Dick Costelo talked up the prospect of using promoted tweets to generate revenues and boasted that the company has “a truckload” of cash following a recent fundraising. [...]
Investec set to unveil Evo takeover deal September 8, 2011 EVOLUTION Group hopes to announce as soon as today that Anglo-South African bank Investec has won the race to take over the financial group for around £220m. Investec is thought to be paying more than 100p a share to buy the business. Talk of an imminent deal was enough to boost Evolution’s shares three per [...]
Trichet loses his cool as ECB holds rates in the Eurozone September 8, 2011 THE EUROPEAN Central Bank (ECB) cut short its rate-hiking cycle yesterday due to “intensified downside risks” to growth that it said will bring inflation below its two per cent target next year. ECB president Jean-Claude Trichet signalled that the Bank is now relatively more concerned about the economic recovery, seeing the risks of price instability [...]
ON THE DEFENSIVE: TRICHET’S PRESS CONFERENCE IN QUOTES September 8, 2011 ON THE STABILITY AND GROWTH PACT: Can I remind us that in 2004 and 2005, some important governments in Europe were asking for weakening the Stability and Growth Pact. Do you remember that? And do you remember which governments were asking for weakening the Stability and Growth Pact? The three big governments of Europe, including [...]
No QE just yet as Bank holds rates at 0.5pc September 8, 2011 THE BANK of England kept interest rates on hold at 0.5 per cent yesterday, for the 30th straight month — with analysts not predicting an increase any time soon. Not since 1950 have interest rates remained at the same level for so long. And despite rumours that the Bank is moving in a dovish direction, it [...]
Housebuyers struggle to get loans in London September 8, 2011 HOUSEBUYERS across the country were buoyed by higher levels of purchase approvals in August, the surveyors’ group E.surv said yesterday. Approvals were up 4.3 per cent on August 2010 and hit a 15-month high. However, Londoners missed out on the boost, with approvals dropping by 10 per cent compared with July’s figure. That is because [...]
First Reserve equity deal lifts Glencore September 8, 2011 GLENCORE rose to its highest level in five weeks in London trading yesterday after First Reserve International swapped its bonds in the commodities giant and bought shares, in a move that was seen by the market as a vote of confidence in the company. US private equity giant First Reserve confirmed yesterday that it had [...]
