WHAT THE OTHER PAPERS SAY THIS MORNING July 17, 2011 FINANCIAL TIMES TESCO TO TRIAL LOYALTY CARD AT US OPERATION Tesco is poised to trial a version of its successful Clubcard loyalty scheme in the US, as it strives to stem losses at its Fresh & Easy chain. Tim Mason, chief executive of Fresh & Easy, said the business, which currently has 176 stores and [...]
Apple set for bumper quarter July 17, 2011 Apple is set to deliver yet another bumper quarter when it announces its results tomorrow. Analysts expect stronger second-quarter revenue and profit, boosted by the easing of component shortages for the iPad caused by the Japanese tsunami, which could boost gross margins to as high as 41 per cent. The market expects revenues to rise [...]
Exchanges may need to rethink July 17, 2011 Exchanges may have to make radical changes to their expansion plans in light of the tougher-than-expected stance taken by regulators over mergers and a lack of appetite for foreign takeovers. IntercontinentalExchange (ICE) chief executive Jeff Sprecher pointed to a string of planned tie-ups, such as that between the London Stock Exchange and TMX Group, that [...]
SFO asked to probe News International July 17, 2011 THE scandal threatening to topple Rupert Murdoch’s empire continued to gather pace yesterday, after the Serious Fraud Office (SFO) was asked to investigate News International. The SFO became involved after Labour MP Tom Watson wrote to the body asking it to investigate settlements made in the wake of the phone hacking scandal. Watson branded payments [...]
Tax issues prompt 26pc of large firms to consider leaving the UK July 17, 2011 OVER a quarter (26 per cent) of large businesses are considering a full or part relocation abroad, with Britain’s high and complex taxes remaining their main cause for complaint. More than half (58 per cent) of the businesses eyeing a move to foreign shores cited tax issues as a leading factor, according to research by [...]
Stress tests leave cloud of uncertainty July 17, 2011 UK BANKS would see €92.8bn wiped off the value of their loan books under the stress scenario devised by the European Banking Authority (EBA) – but the tests do not give a clear indication of how much of that would be due to sovereign debt problems and did not test the effect of a default [...]
Watchdog fails even on the basics July 17, 2011 Odd” was how one analyst described a set of modelling decisions by the European Banking Authority (EBA) in its latest round of stress tests. Or, as another summed up: “I’m glad none of the UK banks have failed, but what has it really told me about the risks they face?” After a weekend that analysts [...]
Ireland supportive of euro-bonds to solve debt crisis July 17, 2011 THE EU should issue region-wide euro-bonds in order to solve the debt crisis, Irish deputy prime minister Eamon Gilmore said yesterday. Eurozone leaders will meet for an emergency summit on Thursday under growing pressure from markets to clarify their message after months of dithering and divergent signals. Some observers now view fiscal union and a [...]
City says Italy needs a bailout before the end of year but EU and IMF will not be able to afford it July 17, 2011 ITALY will need a financial rescue this year but the Eurozone and IMF do not have the financial clout to put a bailout package together. That is the stark conclusion of the City A.M./PoliticsHome Voice of the City Panel. Of those panellists who expressed an opinion on whether Italy would need a bailout, 60 per cent said [...]
Goldman to see pay and revenues fall July 17, 2011 GOLDMAN Sachs is expected to reveal a sharp drop in revenues and a gentler decline in pay in its second-quarter results tomorrow. Analysts have estimated that the bank’s ratio of total compensation to revenues will jump as slow trading volumes eat away at the top line. Sandler O’Neill analyst Jeff Harte forecasts revenues of $8.7bn [...]
