Adobe turns in a fourth-quarter profit as revenues beat forecasts December 20, 2010 Adobe Systems issued an earnings forecast sharply above Wall Street projections yesterday, contrasting sharply from a pessimistic outlook three months ago when it was concerned about the weak economy. The world’s biggest maker of design software marked a sharp contrast to the forecast issued in the last quarter when problems in key markets in Japan [...]
JPMorgan moves its HQ to the Wharf December 20, 2010 JPMORGAN confirmed yesterday it will base its European headquarters at the former Lehman Brothers tower in Canary Wharf from 2012. The decision is a major vote of confidence in London as one of the world’s top finance hubs and follows concerns that the government was not supportive enough of the banking sector. JPMorgan will not [...]
BA shares hit as Heathrow chaos drags on December 20, 2010 SHARES in British Airways plummeted yesterday thanks to the major disruption to its flights from Heathrow. The firm, which is Heathrow’s biggest operator, cancelled 70 of its 130 flights out of the airport yesterday, leaving thousands stranded. BA is currently losing up to £10m a day, according to analyst estimates – close to the losses [...]
SHOULD THE GOVERNMENT BE BETTER PREPARED FOR THE SEVERE WEATHER? December 20, 2010 JENNIFER DEVLIN | RSA GROUP JENNIFER DEVLIN | RSA GROUP“Yes, most definitely. I feel they could have spent more money and have done more about the whole country, not just London, especially when it comes to trains.” JOHN HEAGREN | TPD ASSOCIATES “Not really, between now and the last time of the snow, they couldn’t [...]
National Grid expects record gas usage to ease this week December 20, 2010 THE NATIONAL Grid has reassured customers that gas and electricity supplies are more than enough to meet demand, despite record usage yesterday forcing it to issue a supply alert. The utility issued a gas balancing alert for yesterday and today, which allows its to redirect power from industrial users to help fuel homes and switch [...]
Retailers feel chill winds of arctic conditions December 20, 2010 FOR retailers, it never rains – it snows and snows and snows. The industry had been hoping that the latest blast of freezing weather would hold off until after Christmas. Instead, the snow that blanketed London in the small hours of Saturday morning thwarted one of the biggest days on the retail calendar. Persistent sub-zero [...]
OECD: Spain needs reform December 20, 2010 SPAIN is in urgent need of far-reaching labour market and tax reform, according to an economic survey released yesterday by the Organisation for Economic Cooperation and Development (OECD). The report also said that efforts to curb the country’s budget deficit – which it predicts will hit 11 per cent this year – and improve the [...]
ECB takes its foot off the gas in bond purchase programme December 20, 2010 THE European Central Bank (ECB) slowed its rate of sovereign bond purchases significantly last week, figures out yesterday showed. The ECB bought €600m’s (£507m) worth of gilts in the week to last Friday, marking a sharp downward shift from its purchases of €2.7bn, €2bn and €1.3bn in the previous three weeks respectively. Last week also saw [...]
Trichet warns Ireland to stick to its bailout plan for sake of euro December 20, 2010 EUROPEAN Central Bank head Jean-Claude Trichet said yesterday Eurozone countries must do more individually and collectively to combat the bloc’s debt crisis, and Ireland must stick “rigorously” to its bailout plan. In a position paper published on its website, the ECB earlier expressed “serious concerns” that Ireland’s rescue package could affect the institution’s liquidity operations [...]
A fancy hotel is the answer if you’re stranded by snow December 20, 2010 IT’S not looking good for those of us planning to head away for Christmas, which means it could be time to rethink things. Option one: wallow at home, rueing the fact that your plans have been scuppered and the shops have sold out of turkey; option two: book into a hotel, relax and enjoy a stress-free Christmas [...]
