Don’t ignore the ticking time bombs November 7, 2010 THERE are always two sides to every story. In the main, as I have long been arguing, the global economy has bounced back. Friday’s strong job figures in the US – payrolls are up 400,000 in the past three months – severely embarrassed the bears and supporters of QE2, as did most of last week’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 7, 2010 FINANCIAL TIMES DHL CHIEF PROMISES ACTION OVER BOMB FEARS The head of one of the three big air-express companies has reacted to the parcel bombs sent from Yemen and Greece by pledging better screening of customers and packages before they reach airports. “What we need to do is improve surveillance at the pick-up point, have [...]
G20 overshadowed by QE November 7, 2010 Barack Obama’s misery is set to continue this week as G20 nations, led by Germany, attack the US over its fresh round of quantitative easing (QE). The Federal Reserve’s decision to launch $600bn’s (£371bn) worth of QE last Wednesday has drawn criticism for devaluing the dollar. Brazil’s foreign trade secretary Welber Barral said of QE2: [...]
BrightHouse profits rise November 7, 2010 Rent-to-own firm BrightHouse saw its profits rise 16 per cent in the first half. The The 223-store firm, owned by private equity firm Vision Capital, sells electrical appliances and household furniture to consumers with poor credit histories who make weekly payments. It made Ebitda of £17m in the six months to September 30, up from [...]
Battersea tube link is viable November 7, 2010 Major landowners and council leaders in London’s Nine Elms area say a possible Northern Line extension to Battersea Power Station could be funded largely from developer contributions and would provide an economic windfall for the area. A study commissioned by the Greater London Authority (GLA) had put the total cost for new infrastructure at £1bn [...]
Standard gets 98.5 per cent rights backing November 7, 2010 STANDARD Chartered said investors representing 98.5 per cent of its shares signed up for its $5.3bn(£3.3bn) rights issue, which will boost the Asia-focused bank’s capital ahead of tougher global rules. Standard Chartered yesterday said it had received valid acceptances in respect of 256.7m shares offered to shareholders. Bookrunners will sell the shares not taken up, [...]
Government to back Diageo China bid November 7, 2010 THE government will throw its weight behind Diageo chief executive Paul Walsh this week as the drinks giant bids for a controlling stake in one of China’s biggest spirits-makers. Diageo is awaiting clearance for the bid from Chinese authorities, with foreign takeovers usually viewed in a critical light. The coalition-led trade group arriving in China [...]
Greece’s ruling party in early elections lead November 7, 2010 GREECE’S ruling PASOK socialist party was ahead in most regions in crucial local elections yesterday, an official estimate showed, in a boost for Prime Minister George Papandreou as he seeks support for harsh austerity measures. Papandreou has threatened to dissolve parliament, barely a year after coming to power, if the first round of the regional [...]
Dudley could cut dividends at BP by half November 7, 2010 OIL giant BP is seriously considering halving its dividend once it resumes payments to shareholders, according to people close to the company and news reports over the weekend. New chief executive Bob Dudley has privately briefed shareholders about his plans to reduce the dividend, and is plotting as much as a 50 per cent cut, [...]
Dollar may devalue by a third, warns currency fund manager November 7, 2010 ONE OF Europe’s top currency fund managers has warned that the US dollar could devalue by up to 30 per cent in the next year as concerns over the state of the country’s ailing economy continue to grip the markets. Bob Arends, who runs the Henderson Horizon Global Currency Fund, predicts the dollar could fall [...]
