ANALYST VIEWS: ARE THINGS LOOKING UP FOR HOME RETAIL GROUP? September 8, 2011 DAVID JEARY | INVESTEC Our initial estimates suggest that Argos is likely to make a small operating loss in the first-half. This is certainly not conducive to more positive sentiment and the debate on its weak performance… will not therefore abate. PHILIP DORGAN | PANMURE GORDON It looks likely that group profits will fall for [...]
SAB to launch a formal bid for Foster’s September 8, 2011 GLOBAL brewer SABMiller is set to launch its formal takeover for Foster’s Group this month after an Australian regulator rejected its claim that Foster’s had made misleading financial statements as part of a hostile A$9.5bn (£6.3bn) bid battle. SABMiller had hoped to rattle the Foster’s takeover defence by casting doubt on its financial statement. The [...]
Saab is pushed to the brink of bankruptcy by Swedish court September 8, 2011 TROUBLED carmaker Saab insisted it was “not dead yet” yesterday after a Swedish court pushed the ailing carmaker closer to collapse by rejecting its application for protection from creditors. The court decision could open the way for Saab itself, unions or creditors to seek bankruptcy for a company where a chronic shortage of cash has [...]
CITY MOVES | WHO’S SWITCHING JOBS September 8, 2011 Houlihan Lokey The international investment bank has hired Oliver d’Oelsnitz as a managing director and head of financial advisory’s European financial institutions coverage. D’Oelsnitz was most recently a managing director at Pan American Financial Resources, where he established a portfolio real estate, infrastructure and debt funds. Prior to this, he was a managing director and [...]
BEST OF THE BROKERS September 8, 2011 EMPRESARIA Merchant Securities Research, which downgraded Empresaria to a “sell” last month, said the firm’s interim results yesterday confirm its fears. It points out that operating profit is down 52 per cent, the UK is flat, the boss is stepping down and market expectations will now not be met. Its price target of 25p has [...]
Oil and gas companies lead a volatile FTSE to further gains September 8, 2011 BRITAIN’S leading shares ended higher after a volatile session yesterday, as investors emerged for beaten-down growth stocks to put a floor under the market. By the close the FTSE 100 was up 0.4 per cent at 5,340.38 points, taking a rally into a third straight day after an intraday trading range of 100 points, or [...]
Wall St slumps on Fed speech September 8, 2011 US stocks closed sharply lower yesterday after Federal Reserve chairman Ben Bernanke gave no indications of new stimulus measures to boost the flagging economy in a keenly awaited speech. Investors have been looking to Bernanke, who gave his outlook on the US economy yesterday, and other policymakers to address a host of concerns from slowing [...]
Rugby host is also property heaven September 8, 2011 WITH the seventh rugby world cup kicking off today (our time) in Auckland, millions of eyes are turned to Kiwi-land. Thousands of fans have physically landed in New Zealand, too, to soak up the experience first-hand, one that promises to be a jamboree of sun, sea and beer as the southern hemisphere’s spring rolls into [...]
Land on Park Lane and you know you’ve won the game September 8, 2011 SOUTH AUDLEY STREET Price: £8.495m This attractive townhouse has been comprehensively refurbished in a style that shows off the beautiful period details but also incorporates the latest interior design styles and modern technology. There are five bedrooms, four bathrooms and four reception rooms. Contact: Knight Frank on 020 7499 1012 or go to www.knightfrank.co.uk CHARLES [...]
DALSTON, LONDON September 8, 2011 DALSTON SQUARE Price: £425,000 Dalston Square is a £160m development in the heart of Dalston, just two miles from the City. This three-bedroom apartment is on the second floor with a balcony. In total, it comprises 919 square feet. Contact: Barratt Homes on 020 7241 1833 or go to www.barratthomes. co.uk/London ARTHAUS, LONDON FIELDS Price: [...]
