ROYAL WEDDING BELLS AT LAST November 16, 2010 A ROYAL wedding between prince William and his fiance Kate Middleton could come as early as spring next year, after the pair announced yesterday that they are to tie the knot. Prince William proposed whilst on a holiday in Kenya last month, and used the engagement ring his father gave to his mother, Princess Diana, [...]
Anti-banker populism is backfiring November 16, 2010 THIS is turning out to be a decent year for the global investment banking industry, despite weaker trading results and even though some firms are doing better than others. True, Wall Street’s total profitability – as defined by the broker-dealer operations of New York Stock Exchange members – will collapse 69 per cent this year [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 16, 2010 FINANCIAL TIMES ABU DHABI MOVES TO SECURE FOOD SUPPLY Abu Dhabi is to make a bold foray into commodities with the establishment of a government-owned trading house aimed at securing food supplies for the import-dependent nation and capturing profit margins in metals and agriculture trading. People familiar with the plans say the company, which is [...]
At a glance: events that brought Ireland to its knees November 16, 2010 TIME LINE | IRISH DEBT CRISIS May 2008 Brian Cowen is elected Irish prime minister. His allies and opponents warn he faces a tough task steering the country through economic slowdown. September 2008 Ireland becomes the first euro zone country to slip into recession after its property bubble bursts. December 2008 Ireland agrees to inject [...]
Abercrombie beats consensus November 16, 2010 Teen clothing retailer Abercrombie &?Fitch yesterday smashed consenus expectations for its third-quarter results to report a 27 per cent rise in earnings per share (EPS) to 56 cents. Analysts had anticipated an EPS of 51 cents, but the firm’s global reach has helped to offset slow demand in its home market of the United States. [...]
Banco Popular addresses capital November 16, 2010 Spanish bank Banco Popular is to reinforce its position ahead of the new Basel III regime on capital adequacy, with plans to raise up to €679m (£577m) of new capital. The bank will strengthen its capital base by €579m-€679m with a 3 per cent capital increase taken up by France’s Credit Mutuel-CIC, and a €400-500m [...]
Glaxo’s lupus drug cleared by US panel November 16, 2010 AN ADVISORY panel for the US Food and Drug Administration (FDA) last night recommended that the agency approve a new treatment for lupus developed by GlaxoSmithKline (Glaxo) with peer Human Genome Sciences. The committee voted 13-2 in favor of a drug called Benlysta – which analysts estimate could see annual global sales of $2.2bn by [...]
BT warns Ofcom of legal challenge ahead of ruling November 16, 2010 TELECOMS giant BT has warned it could sue regulator Ofcom, after it refused to allow a rise in wholesale fees to rivals to help repair BT’s onerous pension deficit. An interim ruling in July by the regulator denied BT the opportunity to raise charges on its Openreach business, the subsidiary used by rivals to access [...]
UK to oppose EU-funded rating agency November 16, 2010 BRITAIN will oppose the introduction of an EU-funded credit rating agency (CRA), after ministers dismissed it as a waste of European taxpayers’ money. Earlier this month Michel Barnier, the EU internal market commissioner, floated the idea of a new European CRA to boost competition in a sector that is dominated by three big players: Moody’s, [...]
GM ups stock offer by 30pc November 16, 2010 GENERAL Motors (GM) is boosting the size of its common stock offering by more than 30 per cent to $15.5bn, potentially making its landmark IPO the largest US offering ever. The expansion is in response to surging demand from investors, who had put in orders worth $70bn for GM’s common shares by late on yesterday. [...]
