Hermes lifted by new surge in handbag sales August 31, 2010 FRENCH luxury goods group Hermes posted a 55 per cent rise in first-half pre-tax profit, boosted by leather goods, and slightly raised its financial targets for the full-year yesterday. Pre-tax profit rose to €194.6m (£160m) in the first six months of the year. Hermes, known for its printed silks and leather handbags, said it expected [...]
Boeing confident of 787 delivery August 31, 2010 Boeing is confident it can deliver the first 787 Dreamliner in the middle of the first quarter of 2011, the chief financial officer of the world’s largest aerospace and defence company said yesterday. Speaking at a conference hosted by Morgan Stanley, James Bell reiterated the updated delivery target for the long-delayed carbon-composite commercial aircraft. Last [...]
Visteon to exit bankruptcy August 31, 2010 Former Ford unit Visteon yesterday received court approval for its bankruptcy reorganisation, ending a 15-month fight among hedge funds, lenders and an industry giant for a piece of the revived auto parts maker. Visteon overcame objections about the treatment of retiree benefits and the way big-money shareholders, but not individual shareholders, were given the right [...]
Brazil government boosts bank August 31, 2010 Brazil’s federal government yesterday injected 1.4bn reais (£523m) into the capital base of state-controlled development bank BNDES, which is poised to lend a record amount this year. The government will cede shares in state-controlled electricity utility Eletrobras to Rio de Janeiro-based BNDES as part of the plan, according to a post in the official government [...]
Heir to Blair says Labour has not fallen out of love with business August 31, 2010 WITH a week to go until MPs return from their summer break, Westminster is a ghost town. Its tearooms and canteens, normally buzzing with political gossip and intrigue, sit deserted. David Miliband cuts a lonely figure as he strides purposefully across the empty atrium of Portcullis House, the modern extension to the House of Commons. [...]
FTSE gains ground as mining shares are lifted by US data August 31, 2010 BRITAIN’S top shares closed up yesterday as miners gained on firmer US economic data which eased investor anxiety on the global economic recovery, while ARM Holdings jumped on renewed takeover talk. The FTSE 100 gained 23.66 points, or 0.5 per cent at 5,225.22, adding to the 0.9 per cent gain on Friday, as UK traders [...]
Wall St choppy as tech shares decline August 31, 2010 US stocks ended little changed in choppy trading yesterday, closing out an August the bulls would like to forget. Positive data surprises sustained a rally for most of the session, but declines in technology shares capped overall gains. The S&P 500 bounced off the key technical level of 1,040 for the third time in the [...]
BORIS OUT FOR A RIDE WITH KELLY BROOK TO LAUNCH BIKE SCHEME August 31, 2010 Boris Johnson’s love affair with two wheels continued yesterday with the launch of his driver-frustrating Sky Ride scheme, where roads are cleared throughout central London to allow cyclists to take in the sights. But The Capitalist can’t help but think bikes weren’t the only thing on the mind of the red-blooded Mayor. Accompanying him on [...]
Indian elephant offers the investor steady success August 31, 2010 ANALYSTS comparing the prospects for the world’s two most populous countries often evoke an Asian version of Aesop’s famous fable of the tortoise and the hare – the elephant and the tiger. The elephant makes slow and steady progress to reach its goal while the tiger bounds forward more quickly and more powerfully, but risks [...]
The drawbacks of defined contribution pensions August 31, 2010 IT HAS been a rocky couple of years for pension funds. Some high profile defined benefit plans, such as those of BT and British Airways, have suffered badly since the on-set of the financial crisis. But the problems that have hit defined contribution (DC) plans have not made the same waves in the media. The [...]
