Concern over public sector debt reduces December 16, 2010 WORRIES over the effect of government debts on the financial sector have plummeted since May, according to a survey conducted by the Bank of England. In May 69 per cent of respondents listed public debt and sovereign risk as “key risks to the UK financial system,” it was revealed today. But by October the number [...]
Three ways to save your pennies overseas December 16, 2010 IF THE estimates of the Association of British Travel Agents (Abta) are to be believed, nearly 4m of us will be heading abroad over Christmas. But whether you’re escaping to sunnier climes or hitting the slopes, here are three tips to help you avoid parting with your cash. 1 BEST CREDIT CARD TO TAKE ABROAD [...]
High street sales edge up in November but retailers sweat over big item sales December 16, 2010 HIGH street sales were up in November, official figures showed yesterday. Sales rose 1.1 per cent on the previous year, and have now increased for every month since February, according to the Office for National Statistics (ONS). The news came as John Lewis announced a sales boost of 12 per cent so far this week, [...]
Rio Tinto sells stake in US miner Cloud December 16, 2010 RIO Tinto sold the majority of its stake in US coal miner Cloud Peak Energy yesterday for $499m (£320m). After divesting 25.6m shares at $19.50 per share, London-listed Rio will be left with a 6.2 per cent stake in Cloud. However, this remaining stake may also be sold through an over-allotment option if demand for [...]
PERSONAL FINANCE NEWS December 16, 2010 NEW SHARE BROKING FIRM LAUNCHED Rivington Street Holding yesterday launched its execution-only share broking service, promising to cut the cost of share dealing for private investors. Created by Barry Jenkins and Brian Gould, JPJshare.com will charge from £4.75 per trade for those making more than 15 trades a month and £5.75 for less frequent users. [...]
Goldman loses star trader as he leaves to start hedge fund December 16, 2010 Goldman Sachs star trader Morgan Sze’s plans to raise over $1bn (£640m) for an Asia hedge fund could be a sign of things to come as traders who run own-account trading desks prepare for a Wall Street regulatory clampdown. Hong Kong-based Sze, head of Goldman’s principal strategies group, is to quit to form Azentus Capital, [...]
Westminster in profits warning December 16, 2010 AIM-LISTED Westminster Group warned yesterday that its trading results for the second half of 2010 will be materially below market expectations due to delays in government contracts. The company, which supplies products to the security, defence, fire protection and safety markets worldwide, said its second half revenues were broadly similar to those of the first [...]
Fedex delivers lower profits December 16, 2010 US COURIER FedEx delivered below-expectation second quarter results as additional costs outweighed strong trading, it said yesterday. Profits fell 18 per cent to $283m (£180m) from $345m a year earlier despite revenues rising 12 per cent to $9.63bn. Asian market growth and a global economic recovery pushed overseas volumes to a record high, it said. [...]
Why your firm needs a a well-informed mentor December 16, 2010 FINDING a mentor is one of the most important things to establish when you start a business. Good accounts and quality market research have their place, but time and again successful entrepreneurs credit the presence of a trusty confidante or adviser as the root of their success. Many are lucky enough to already have expert [...]
Sports Direct profits surge in cold snap December 16, 2010 SPORTS Direct said the recent cold snap had been a “net positive” as winter products flew off its shelves, boosting its shares to a three-year high. Britain’s largest sports retailer said while other chains had been hit by the freezing temperatures, the temperatures had given it a lift, The company posted a 40 per cent [...]
