Etihad moves closer to profit January 11, 2011 Middle East airline Etihad has reported a 29.2 per cent rise in revenues in 2010 to reach $2.95bn (£1.89bn). The figures bring Etihad closer to its goal of breaking even in 2011, and turning its first profit in 2012. Passenger numbers climbed 13.1 per cent to peak at just over 7m for the first time. [...]
London Capital Group figures up January 11, 2011 London Capital Group (LCG) said yesterday its full-year profit before tax for 2010 is in line with market expectations. In a statement issued ahead of the publication of its results on 22 February, the financial services and online spread betting company revealed a 38 per cent increase in net revenue per active client, while the [...]
Signet gets boost from US sales January 11, 2011 Signet Jewelers has reported an 11.7 per cent rise in like-for-like sales across its portfolio of US jewellery outlets, but said that comparable UK data was down 4.2 per cent. Signet’s UK brands, including H Samuel, account for 20 per cent of its global business. Chief executive Tony Burman attributed the poor UK results, which [...]
THE TIPSTER January 11, 2011 EURO-sterling has been under relentless pressure since the turn of the year, dropping over 3 per cent in the first week of the New Year. Support was found yesterday around £0.8290, but the bounce thus far has been less than convincing and the support level looks set for a re-test. If support at £0.8290 fails, [...]
Nat BlueStar buys $2bn of Orkla assets January 11, 2011 NORWAY’S Orkla has agreed to sell its Elkem unit to China National BlueStar for $2bn (£1.28bn) in one of the biggest industrial takeovers by a Chinese group in Europe. The agreement was reached despite a row between China and Norway over the award of the Nobel Peace Prize to Chinese dissident Liu Xiaobo. Pizzas-to-metals conglomerate [...]
CVC picks Nine float advisers January 11, 2011 PRIVATE equity firm CVC has appointed Credit Suisse, Goldman Sachs and UBS to advise on the possible initial public offering (IPO) of television network Nine Entertainment, in a deal that could be worth $5bn (£3.2bn). If a float proceeds, it could be the biggest in Australia since the nearly A$10bn IPO of Telstra Corp in [...]
Employee denies Renault espionage January 11, 2011 A SENIOR employee at Renault denied any involvement in industrial espionage after allegations that three executives leaked green car technology secrets. A French government source said last week a possible Chinese connection was being explored but had not been substantiated, after Renault suspended three executives suspected of leaking information on its electric vehicle programme. “Renault [...]
FOREX ANALYST PICKS January 11, 2011 FOREX STRATEGIST JOEL KRUGER My pick: Long euro-Swiss franc at SFr1.2530 Expertise: Technical analysis Average time frame of trades: 1 to 6 weeks The market has come back under pressure since breaking back below SFr1.3000, with the latest declines resulting in a drop to record lows. But given the intensity of the latest drop, we [...]
CITY MOVES | WHO’S SWITCHING JOBS January 11, 2011 Investment Solutions Investment Solutions, the multi-manager portfolio provider, has appointed a new chief executive: Rufus Warner. Warner comes to the firm from Earth Capital Partners and after 27 years in asset management, including stints at Societe Generale Asset Management, Close Investments, Morgan Grenfell Asset Management and Fidelity. He will now take charge of the UK [...]
Your car, sir January 11, 2011 HAVING a baby has turned me into a chauffeur. As my wife embeds in the back in a pre-emptive strike against impending infant in-car seat boredom meltdowns, I invariably sit alone in the front like a sort of North London Jeeves, taking radio station requests and having to grudgingly take sole responsibility for figuring out [...]
