EU loses in world trade row July 26, 2010 A World Trade Organisation (WTO) panel has ruled that the EU was wrong to impose duties on three types of electronics products from the US and other countries, trade sources said yesterday. The WTO panel backed the US as well as Japan and Taiwan in their complaint that EU duties on flat-panel displays, multifunction printers [...]
BBC warned over spending July 26, 2010 Culture secretary Jeremy Hunt yesterday warned the BBC must check its spending or face losing the trust of the public. He warned the broadcaster must be “on the same planet as everybody else” when it spends public money. Speaking yesterday, he said: “As we’re having to be very careful about every penny of taxpayers money [...]
Singapore Air beats forecast with recovery July 26, 2010 Singapore Airlines, the world’s second-largest airline by market value, yesterday said a recovery in passenger and freight traffic should be sustained in the near term after posting a better-than-expected first quarter profit. Global airlines are recovering from the worst downturn in aviation history, but some analysts doubt if the rebound can be sustained with the [...]
Barlows puts Halliwells into split LLP July 26, 2010 BARLOW LYDE & GILBERT will ring fence lawyers moving over from stricken law firm Halliwells into a subsidiary LLP to protect itself against potential claims from clients. The move will allow Barlows to avoid any future liabilities and claims taken against the 19 Halliwells partners that will join the firm. Incoming partners will not be [...]
BEST OF THE BROKERS July 26, 2010 DANA PETROLEUM Evolution Securities has given Dana Petroleum a “sell” recommendation and said that the Korean National Oil Company has tabled a conditional 1,800p offer for full issued and to be issued share capital in Dana. Evo said that the risk for investors could be that if Dana frustrates the Koreans, they could walk away. [...]
Europe’s banks are at a crossroads after tests July 26, 2010 IF THE results of European bank stress tests were designed to draw a line under fears about the robustness of the system, then they failed miserably. The tests conducted on 91 banks across Europe were met with a hefty dose of scepticism from the investment community after only seven banks failed and the combined funding [...]
STRENGTH IN EQUITIES IS SURPRISING July 26, 2010 AFTER a shaky start, last week saw the second quarter US earnings season come alive and galvanise equity markets. The strong rally that began on Thursday was thanks to better-than-expected bottom line, top line and forward guidance from bellwether stocks such as Caterpillar, UPS, Microsoft and 3M. But it also highlighted a contradiction that is [...]
Those with the stomach for it should go long on food demand July 26, 2010 WELSH lamb-farmers have every reason to celebrate as they edge closer to signing a lucrative export deal with China. The deal is just another of many signs that emerging markets’ growing demand for hard commodities like steel and oil is leading to a boost in demand for soft commodities like wheat and cocoa. As infrastructure [...]
THE TIPSTER July 26, 2010 ALTHOUGH recent traffic figures have revealed poor punctuality at budget airline easyJet, the company should be releasing its trading statement bang on time tomorrow. EasyJet will be looking to calm investors’ nerves and the airline appears to have overcome the troubles faced during air travel suspensions when the volcanic ash cloud covered the skies of [...]
Banks lead the way as resurgent FTSE gives bulls a glimpse of higher plains July 26, 2010 BRITAIN’S top share index hit its highest close in 10 weeks yesterday, led by banks after European stress tests passed without major incident, and as strong economic data from the US boosted investor confidence. The FTSE 100 index ended up 0.7 per cent, or 38.50 points, at 5,351.12, its highest closing level since 13 May. [...]
