Best of the Brokers December 11, 2012 BREWIN DOLPHIN Numis continues to give investment company a “hold” rating, and raises the target price to 188p. After a reorganisation, the broker thinks the firm can exceed its 20 per cent operating target, but admits changes could impact results for clients. INCHCAPE UBS has issued a “buy” rating for the car retailer, setting a [...]
FTSE 100 hits a nine-month closing high after strong German figures December 11, 2012 BRITAIN’S blue-chip index posted its highest close in nine months yesterday, supported by strong German economic data but enduring a late sell-off as it balked at technical resistance. The FTSE 100 closed up 3.34 points, or 0.1 per cent, at 5,924.97, edging off an intraday high of 5,937.93 on a bout of selling in the [...]
US stocks up as Apple’s shares lift the market December 11, 2012 US stocks rose yesterday, led by gains in technology companies, helping the S&P 500 end at its highest level since Election Day. A 2.2 per cent gain to $541.39 in Apple’s stock lifted the Nasdaq, as the largest US company by market value rebounded from a week in which investors took profits before a possible [...]
Old age Britain: An opportunity for firms to profit from demographics December 11, 2012 LONDON is booming. Figures from the 2011 census show the city has witnessed unprecedented demographic change since 2001. Over the last 10 years, its population increased by 11.6 per cent – from 7.3m to 8.2m in 2011. A full 10 of the 20 fastest growing local authorities in England and Wales are located in the [...]
Why breaking the banking consensus wouldn’t be the end of the world December 11, 2012 FORECASTS of the end of the world have an even worse track record than economic predictions. Followers of the Mayan calendar believe it will all come to an end next week. But we have been here before. In 1956, an American group led by a suburban housewife believed a catastrophic flood would destroy the world [...]
HSBC’s fine stands as the first step on a lengthy journey December 11, 2012 HSBC is to pay a settlement of around $1.9bn (£1.2bn) under the terms of a deferred prosecution agreement reached with the US Department of Justice. It is the largest settlement of its kind to date, dwarfing fines paid by financial institutions like Standard Chartered and Barclays. But why is it so big? Firstly, it reflects [...]
Is the historic $1.9bn settlement between HSBC and US regulators a reasonable result? December 11, 2012 YES Roger Francis HSBC said today that it had agreed to pay $1.92bn (£1.2bn) as part of a settlement with US regulators. Although the settlement sets a new record for penalties on a bank, it should be viewed in the perspective of HSBC’s huge earnings power and the bank’s breaches of money laundering and sanctions [...]
Rapid responses December 11, 2012 The payday debate [Re: The poorest will suffer if we ignore the real evidence on payday loans, yesterday] This is the first honest, data-driven response to the payday loan industry debate I’ve seen. Unfortunately, screaming headlines about sky-high interest rates and vulnerable borrowers have led some to ignore the sad truth that many are far [...]
Menus get the Christmas treatment December 11, 2012 WITH DECEMBER well and truly under way, it’s officially that time of year where your favourite eateries trade in their usual menus for something more festive. This season bars, restaurants and pubs are pulling out all the stops as far as their dishes are concerned so whether you’re after something traditional or want a modern, [...]
Forget the Great British Bake Off, we put a selection of mince pies to the test December 11, 2012 WE MAY have just under two weeks to go before Christmas but mince pie season is already well and truly upon us. As far as quality goes, they can be pretty hit and miss. Done well, the pastry is crumbly and the filling substantial and sweet but done badly, it’s enough to throw you off [...]
