We must adjust to new global order November 11, 2010 IT takes time for new realities to sink in, especially in economics and geopolitics. One reason why the G20 meeting in Seoul won’t achieve anything of any real substance is that the old order still believes that it can play by the old rules – and by that I mean primarily the Americans. The Fed’s [...]
PERSONAL FINANCE NEWS November 11, 2010 FLEXIBLE DRAWDOWN SUITABLE FOR MOST Over 90 per cent of financial advisers think that flexible drawdown would be a suitable retirement solution for their clients, according to research conducted by pension product provider Suffolk Life. Suffolk Life’s John Moret said: “Industry statistics suggest that the number of new drawdown cases in 2010 is likely to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 11, 2010 FINANCIAL TIMES SMARTPHONES IN HACKING RISK Certain smartphone models running Google’s Android operating system have security flaws that could allow hackers to steal personal information or record conversations, researchers said this week. In a demonstration at the Black Hat security conference in Abu Dhabi, a UK researcher showed how a vulnerability in the web browser [...]
FTSE 100 slips on financials’ exposure to Ireland’s debts November 11, 2010 FINANCIALS pressured Britain’s top share index yesterday as concerns over Royal Bank of Scotland’s exposure to Ireland’s debt troubles weighed on the bank, and ICAP fell after a downgrade from BofA Merrill Lynch. Weakness among financials offset gains in commodity-linked assets, which rallied after strong data from China, the world’s biggest consumer of raw materials, [...]
Email loses UBS $10m November 11, 2010 A UBS banker has allegedly lost the bank more than $10m (£6.2m) in fees, after he sent an email detailing General Motor’s (GM) upcoming float to over a 100 of the firm’s clients. The alleged leak was disclosed in papers filed by GM with the US regulator the Securities and Exchange Commission (SEC). GM’s filing [...]
Disney misses forecasts November 11, 2010 Walt Disney posted a rare quarterly earnings miss after TV broadcasting and theme park revenue fell, offsetting a boost from smash “Toy Story 3” and robust advertising sales. Disney’s fourth-quarter net income fell to $835m, compared with $895m a year earlier. Total sales fell one per cent to $9.7bn from $9.9bn. Analysts on average had [...]
Trinity Mirror sales slide 5pc November 11, 2010 Trinity Mirror said in a trading statement its like-for-like sales fell five per cent in the four months to the end of October and the national and regional newspaper publisher said the environment would remain tough into 2011. Excluding revenue from GMG Regional Media, which Trinity Mirror bought this year, advertising revenue fell 4.6 per [...]
Dow falls after Cisco warns on earnings November 11, 2010 CISCO’S discouraging outlook dragged Wall Street lower yesterday, but the market fought back in a sign the bullish trend remains intact. Cisco lost 16.2 per cent to $20.52 after its earnings report. Major indexes plunged shortly after the open, with Nasdaq falling more than two per cent, but slowly came back as investors viewed Cisco’s [...]
BG Group in a $3.5bn Brazil drilling deal November 11, 2010 BG GROUP has signed a $3.5bn (£2.bn) contract to build eight giant floating drilling platforms to help pump oil from a string of discoveries off the coast of Brazil. BG and Petrobras, Brazil’s state oil company, said the joint order for the new vessels had been placed with private Brazilian company Engevix Engenharia. BG will [...]
Beauty, isolation and serious bling November 11, 2010 THE Cornish coast is known for many things – ancient ruined castles, desolate cliffs, a thriving arts scene, high-grade surfing – but blinging property isn’t generally one of them. Blue Point, a £3.25m home overlooking the bobbing fishing boats of the tiny fishing village of Gorran Haven on Cornwall’s eastern coast, is the kind of [...]
