QR National sees second biggest Australian IPO November 22, 2010 AUSTRALIAN rail freight operator QR National became the country’s second biggest initial public offering on record at the weekend after selling shares worth just over A$4bn (£2.5bn). The float is at the heart of the Queensland government’s plan to raise A$15bn by selling assets, in a bid to regain its triple A credit rating. The [...]
The Beatles score 31 tracks in top 200 November 22, 2010 THE Beatles managed to land 31 tracks in the iTunes top 200 chart after their first weekend on sale. Last Thursday saw the Beatles songs become available for download for the first time after years of fruitless negotiations between Apple founder Steve Jobs, Beatles management company Apple Corps and the Beatles label EMI. Analysts predicted they [...]
CITY MOVES | WHO’S SWITCHING JOBS November 22, 2010 Huntsworth Group Global PR firm Huntsworth has added Colin Adams to its board as group finance director, replacing Tymon Broadhead. He has a background in media and joins from Bloomsbury Publishing, where has had been finance director since 1994. He also has three years’ experience on the investment committee of the creative capital fund. He [...]
BEST OF THE BROKERS November 22, 2010 XSTRATA Standard & Poor’s has initiated coverage on the miner with a “buy” recommendation and a 12 month target price of £15.00. The broker expects group earnings to hit record levels in 2011, due to both through a £14bn capital expenditure programme that will increase volumes, and through rising prices of copper and thermal coal. [...]
Gaffe delays US air tanker deal decision November 22, 2010 A DECISION on the winner of a US deal to build new air-refuelling tankers is facing more delays after officials sent data to rival bidders EADS and Boeing about each other’s bids – sparking talk that the order could be split between them. US air force (USAF) officials said they would announce a winner of the [...]
Eurofighter group in talks with India November 22, 2010 A CONSORTIUM building the Eurofighter Typhoon jet may make India a partner in the project in return for a £7bn deal to supply the jets to its air force, it has emerged. The group including UK defence giant BAE Systems is thought to be ready to offer key data about the aircraft to India to persuade [...]
Sovereign debt worries a drag on stock markets November 21, 2010 Last week, China’s efforts to slow rising inflation and the ongoing concerns about European sovereign debt, both placed a drag on stock markets around the world. However a late rally in the US on Friday should translate into a positive open for European stocks this morning. GFT expects the FTSE 100 index to start 20 [...]
THE WALL STREET WEEK AHEAD November 21, 2010 Expectations about Black Friday, when Americans traditionally get serious about holiday shopping, could sway stocks this week if it looks like the economy will get a pop from consumer spending. The outcome of talks to shape a bailout for Ireland could also move stocks, analysts said, but they cautioned that other highly indebted Eurozone countries [...]
How to defuse a time bomb: China worries about liquidity November 21, 2010 IF ANYONE had needed more proof of the extent of global economic imbalance, then last week’s inflation figures ought to have been enough. Despite unprecedented monetary ease, America’s inflation rate is running at 0.6 per cent, the lowest level in 53 years. In China, however, money is abundant and inflation is running at 4.4 per [...]
Rolls Royce better value for traders November 21, 2010 THANKS to a combination of superior design, pilot skill and more than a pinch of good luck that engine fragments did not hit more crucial parts of the jumbo jet, Qantas flight QF32 touched down safely a little more than a fortnight ago, leaving its passengers shaken but fundamentally unscathed. Much the same can be [...]
