FOOD & BOOZE NEWS April 18, 2011 FRY-UP FLAVOUR EASTER EGGS The roars of delight that went up in the City A.M. offices on hearing of breakfast-themed Artisan du Chocolat easter eggs (see pic below) were probably heard across the City. Bacon, mushroom and tomato may not sound like the most enticing trio of chocolate flavours to normal people, but to us [...]
Seeking out the resources to keep up with global demand April 18, 2011 GOLDMAN Sachs may have slowed the charge of the commodity bulls last week by suggesting that investors take profits on a basket trade of crude oil, cotton, copper, soybeans and platinum that it recommended in late 2010, but this week the markets have carried on regardless. But with political turmoil affecting the established commodity rich [...]
THE TIPSTER April 18, 2011 SHARES in supermarket Morrison have been on the rise since the end of March, as shoppers still favour promotions in an attempt to offset the squeeze on income from rising prices. Products on promotion account for 40 per cent of sales, which is now at a record high. They are really bringing the competition to [...]
£48bn: The value bullish brokers have given to Glencore April 17, 2011 GLENCORE could be worth up to a fifth more than previously thought, according to bullish estimates by analysts, pushing its market cap value up to $78bn (£47.8bn) if it floats successfully in May. Analysts at Barclays Capital and Credit Suisse – both of which are on the deal – have suggested that the commodities trader [...]
China battles rising prices April 17, 2011 FEARS over inflation in China stoked yet another rise in the amount that banks are forced to hand over as reserves yesterday. The reserve ratio requirement (RRR) was hiked by 0.5 per cent to 20.5 per cent last night, to be effective from 21 April. It marked the fourth 0.5 per cent increase in the [...]
EU is set for its own sub-prime crisis April 17, 2011 HUMAN beings have an infinite capacity for self-delusion, especially when it comes to matters financial. I still remember how, in late 2006 and early 2007, all too few investors, financiers, commentators and regulators wanted to believe that the US property market was in the early stages of a crash or that there was anything to [...]
G20 derivative reform lag April 17, 2011 THE Financial Stability Board (FSB) – the body set up to help coordinate global financial policy – has warned some G20 countries will struggle to meet its deadline for derivatives market reforms. The FSB is overseeing the agreed move towards greater transparency in the industry, including the encouragement of electronically traded exchanges and cross-country standardisation. However, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 17, 2011 FINANCIAL TIMES EU TO PROBE DATA TRAFFIC MANAGEMENT Regulators are to launch the first pan-European investigation into telecoms companies’ controversial data traffic management practices, in an attempt to safeguard so-called net neutrality principles. European regulators will scrutinise whether fixed-line phone and mobile operators are giving consumers enough information about their traffic management policies. ACTELION GAINS [...]
Coalition cracks show over AV vote April 17, 2011 Cracks appeared in the coalition government yesterday over a looming referendum on voting reform as Conservative and Liberal Democrat politicians clashed publicly on the merits of adopting a new system. In a stinging attack, former Lib Dem leader Paddy Ashdown accused Chancellor George Osborne of cheap mudslinging and scaremongering to push the “no” vote through. [...]
BP shareholders want asset sale April 17, 2011 BP shareholders have called for the embattled firm to sell up to half of its assets. The firm has already sold assets worth more than $24bn (£14.7bn) as part of a plan to divest $30bn to pay for the Gulf of Mexico oil disaster by the end of the year. Some shareholders have been attracted [...]
