CITY VIEWS: WILL THE ONE NEW CHANGE SHOPPING CENTRE ATTRACT SHOPPERS TO THE CITY? October 26, 2010 HARRIETTE DERBYSHIRE | HAMPTONS INTERNATIONAL “I think it will be good for workers in the City – it’s quite close by and it gives us something to do in our lunch breaks. It also means we can shop during the week, so the weekends are free for other things. I’m not sure people will come [...]
CITY MOVES | WHO’S SWITCHING JOBS October 26, 2010 Lloyds Banking Group Lloyds TSB Corporate Markets has hired three new senior members to its global financial institutions team. Adam Daniels, pictured, joins as head of specialist finance and intermediaries from Ernst & Young, where he was an M&A partner. Mandeep Ahluwalia moves over from Standard Bank to become managing director of relationships for the [...]
ANALYST VIEWS: CAN CINEWORLD MAINTAIN ITS PROGRESS? October 26, 2010 SIMON FRENCH | PANMURE The company is confident of delivering continued growth for the full year at least in line with expectations. We don’t anticipate any change to our numbers at this stage, but clearly the risk to forecasts lies on the upside. KEITH BOWMAN | HARGREAVES LANSDOWN The group’s investment in technology, conservative expansion [...]
Reckitt shares soar on takeover October 26, 2010 Shares in Reckitt Benckiser rose 31p to 3,449p at one stage yesterday before closing 114p lower at 3,436p after EU competition watchdogs gave the green light to its takeover of Durex condoms maker SSL. The Cillit Bang to Nurofen painkiller group is disposing of SSL’s brands for mouth pain relief products in the UK and [...]
Beer sales drop by 9.7pc October 26, 2010 The amount of beer drunk in Britain fell by 9.7 per cent in the last three months, dashing hopes of a comeback by the brewing industry. Sales of beer in supermarkets and off-licences were down by 12 per cent in the third quarter, while sales in pubs dropped by 7.8 per cent. The latest figures [...]
Cairn halts its Arctic drilling October 26, 2010 Cairn Energy stopped drilling in Greenland before completing an oil well after Greenpeace protesters delayed work, potentially incurring millions of pounds in extra costs and hitting the explorer’s shares. The Edinburgh-based group yesterday said the Alpha-1S1 well in Baffin Bay did not reach the depth it was aiming for before it was forced to halt [...]
Google set to build stronger controls to safeguard privacy October 26, 2010 GOOGLE is “building stronger controls” to safeguard privacy, a senior executive said yesterday after the search engine giant’s admission to inadvertently gathering emails and passwords across the globe. Peter Fleischer, Google’s global privacy counsel, told reporters at a conference on Internet security he was “puzzled” that users had made scant use of privacy controls made [...]
Greece will have to cut spending as tax rates peak, says central bank October 26, 2010 GREECE’S effort to cut deficits must rely on curbing spending, tax evasion and waste as there is no more room for higher taxes, the country’s central bank said in an interim monetary policy report yesterday. “There is no more room to raise tax rates on businesses and individuals and the spearhead of policy to boost [...]
Ford motors to a recovery as profit rises October 26, 2010 CAR giant Ford yesterday posted a higher-than-expected quarterly profit and pulled forward by a year a debt-reduction forecast seen as key to returning the automaker to an investment-grade credit rating. Ford, which expects to be solidly profitable this year, said it repaid $2bn (£1.26bn) of debt in the third quarter, expects to pay down a [...]
BEST OF THE BROKERS October 26, 2010 TULLOW OIL BNP Paribas has cut its valuation of the oil group by 10 per cent to a fair value target price of £11.65, and rates the stock “neutral”. The broker says disappointing drilling results in Ghana and continuing uncertainty over its Ugandan operations leaves the company depending on future drilling success. It adds that [...]
