Wall St flat after late banks sell off November 17, 2010 IINVESTORS were unable to recoup recent losses in the market yesterday, suggesting the struggles recently experienced by stocks are far from over. A late-day selloff did not inspire confidence. Volume was light and early buying faded, as financials led the market downward. The S&P 500 is down nearly four per cent since 5 November after [...]
BP accused of missing key errors before giant oil spill November 17, 2010 LACKING standards to weigh costs against safety, BP and its partners made critical errors leading to the largest offshore oil spill in US history, according to a scientific panel report obtained by Reuters. Interim findings from the National Academy of Engineering and the National Research Council attribute the massive spill to workers’ decisions to move [...]
Entertainment One hopes for Peppa Pig boost November 17, 2010 ENTERTAINMENT One, which owns the rights to the Twilight movies, said yesterday it cut its losses in the last six months of the year. The firm’s reported loss before tax fell to £2.5m – down from £7.9m – and included £1.8m of one-time costs associated with the company’s move to the main market in London. [...]
ANALYST VIEWS: WHAT DO YOU THINK OF CENTRICA’S RESULTS ? November 17, 2010 MANOJ LADWA | ETX CAPITAL Centrica continues to perform strongly and is making progress towards the strategic priorities set out earlier this year. Overall, the group’s forecast for operating profit for 2010 is slightly ahead of current expectations. SCOTT BYROM | MONEYSUPERMARKET.COM This is yet another kick in the teeth for customers of the energy [...]
Vedanta to float Zambian copper miner in London November 17, 2010 VEDANTA investors picked over the details of its $1.1bn (£692m)?plan to list its Zambian copper company on the London stock market yesterday. Liberum Capital said in a note that the total value of Konkola Copper Mines, which is 79.4 per cent owned by Vedanta, could be worth up to $7.1bn if it hits increased quotas. [...]
BEST OF THE BROKERS November 17, 2010 BURBERRY Standard & Poor’s rates the retailer as a “hold” with a target price of £10.60 after in-line half-year results. The broker believes Burberry’s increased sales in non-apparel play to its model as a luxury brand, but does not expect any significant consensus upgrades and believes the rise in GDP could hamper its future performance. [...]
Brazil boost for Experian November 17, 2010 CREDIT reference agency Experian hiked its interim dividend and said it was continuing to look at ways of returning cash to shareholders after a stronger-than-expected first half of the year boosted by Latin America. Earnings before interest and tax (Ebit) in the region jumped 36 per cent year-on-year to $115m (£72.3m) while revenue rose 22 [...]
Iceland drafts a deal to repay debts from its banking bailout November 17, 2010 ICELAND has drafted a new deal to repay the British and Dutch governments the money they paid to bail out investors who had saved with several of its banks, including Landsbanki, following their collapse two years ago. Iceland’s government put together a deal to repay Britain and the Netherlands earlier this year but the deal [...]
Roche cuts 4,800 jobs over price pressure and product setbacks November 17, 2010 SWISS pharmaceutical firm Roche announced it would be cutting 4,800 jobs worldwide, or about six per cent of its workforce, over the next two years as part of a wide-ranging restructuring programme forced on it by price pressures. Most of the planned job cuts will be in its pharma unit, particularly in the sales and [...]
VINTAGE BUBBLY WORTH £31K A BOTTLE November 17, 2010 EXPERTS have predicted that a batch of 168 bottles of vintage champagne salvaged by divers during the summer is likely to become the world’s most expensive, with some experts, who got to taste the first sample yesterday, estimating each bottle could fetch more than €50,000 (£31,400). The first bottle goes on sale next year.
