TUI in talks on sale of Hapag-Lloyd shipping April 5, 2011 GERMANY’S TUI has said it is in talks to sell a stake in container shipping business Hapag-Lloyd, that it had earlier said it wanted to float, boosting its shares by five per cent. “TUI is currently in talks with potential investors over the sale of shares in Hapag-Lloyd,” the travel group said in a statement. [...]
Porvair four-month revenues up April 5, 2011 Filtration and environmental technology group Porvair yesterday announced revenues for the first four months of 2011 have grown by around eight per cent on the same period last year. In its interim management statement the company said profit for tax was ahead of management’s expectations and well ahead of the same period last year.
US long-term borrowing boosted April 5, 2011 Higher charges placed on banks that lend overnight funds to the Federal Reserve are having “an anticipated positive effect” of making long-term borrowing relatively more attractive for banks, the Federal Deposit Insurance Corp (FDIC) said yesterday. The FDIC introduced the higher fees as called for in last year’s Dodd-Frank financial reform law. The higher charge [...]
Assura trading beats forecasts April 5, 2011 High sales in its pharmacy business have caused Assura to surpass expected trading results for the year ending in March. The primary healthcare and pharmacy group, which recently acquired AH Medical Properties, predicted revenue from its wholly-owned pharmacies to exceed £33m, compared to £31m in 2010.
CITY MOVES | WHO’S SWITCHING JOBS April 5, 2011 APCIMS Ian Cornwall has been appointed as director of regulation at the Association of Private Client Investment Managers and Stockbrokers. Cornwall, who has more than 20 years’ experience as a risk and compliance professional, four of which were spent as head of UK regulation for APCIMS, will work with the government to develop regulation for [...]
BEST OF THE BROKERS April 5, 2011 RESOLUTION Citigroup rates the insurance group “buy” with an increased target price of 367p. The broker believes that M&A and mission creep fears have been over-discounted in the market, with the risks instead lying with changing regulation and agency costs. Citi likes Resolution’s low relative leverage and excess capital, and hangs its investment case around [...]
FTSE lags over China’s rate hike and European debt fears April 5, 2011 BRITAIN’S top share index edged lower yesterday as miners fell on concerns that an interest rate hike in China could hurt demand for metals and banks dropped on worries over European debt. The FTSE 100 closed down 9.92 points, or 0.2 per cent, at 6,007.06, having rallied 7.4 per cent off lows hit in March [...]
Low volumes see Wall St tread water April 5, 2011 THE S&P 500 failed to break a key technical resistance level for a second day yesterday as low trading volume raised further questions about the market’s strength. The broader market index closed slightly below 1,333, a closely watched level as it represents double the low reached in March 2009. Trading volume was relatively low with [...]
Imagining tomorrow: possibilities, probabilities and potential in 2025 April 5, 2011 1 TRANSFORMATIVE TECHNOLOGY There’s been a lot of fuss about digital forming technology – that is physically printing anything from plates and cups to medical equipment and cars. But it is worth the fuss since it will radically impact on the world economy when it comes into fruition. The technology would give us the capability [...]
Chinese rate hikes will build pressure on its Pacific partners April 5, 2011 TODAY the interest rate hike announced by the Chinese central bank will kick in. This follows yesterday’s announcement by the People’s Bank of China (PBoC) that the benchmark one-year lending rate will increase to 6.31 per cent from 6.06 per cent. At the same time, the one-year deposit rate will rise to 3.25 per cent [...]
