Three-quarters of small firms confident in growth July 25, 2010 SMALL businesses are increasingly confident in their trading despite wavering growth, claims research out today. Almost three-quarters feel positive about conditions in the last three months, compared to 63 per cent at the start of the year. However, average turnover dropped from a two-year high last quarter, figures compiled by Bibby Financial Services said. One [...]
ECONOMIST VIEWS: WAS SECOND QUARTER GDP AS GOOD AS IT WILL GET? July 25, 2010 HETAL MEHTA | E&Y ITEM CLUB “The second quarter is likely to represent the high point as fiscal tightening and a renewed slowdown in global activity constrains a more robust recovery. This preliminary estimate does not radically change the basic picture of a patchy recovery that will only pick up speed gradually.” SIMON HAYES | [...]
The father of the UK’s transport business sees recovery on the way July 25, 2010 Stagecoach’s chief executive Brian Souter has seen it all in the 30 years since he founded the bus and rail operator – but even he admits the industry is undergoing a difficult period. The transport sector, which is only just emerging from a painful recession, is about to face more pain. Chancellor George Osborne’s emergency [...]
Russia prepares for giant sale of assets July 25, 2010 RUSSIA is understood to be planning its biggest sell-off of state assets since the early 1990s as it seeks to raise over $29bn (£18.8bn) to plug budget gaps over the next three years. According to finance ministry sources quoted by Reuters, the plan to sell minority stakes in 10 major companies in 2011-2013 had been [...]
Time to embrace carbon trading opportunity July 25, 2010 REDUCING carbon emissions is a long-standing objective within the European Union for obvious reasons. But, given the current economic climate, policy makers are now stressing the need for the UK to move to a low carbon economy not only to protect the environment but also to foster long-term, sustainable growth to help our country recover [...]
BEST OF THE BROKERS July 25, 2010 AUTONOMY Nomura gives Autonomy a “buy” rating and said that although it is unlikely to see a clean fourth quarter, it still believes the group can achieve its full year guidance. Nomura said it registered management’s comments, highlighting that 50 per cent of the company’s business is operating in “decoupled” markets. IMPERIAL TOBACCO Citigroup said [...]
Asprey boss leaves luxury jeweller July 25, 2010 The chief executive of Asprey, jeweller to the Royal Family, is understood to have quit the company as it undergoes a turnaround process. Robert Procop is believed to have left after two years with the Bond Street retailer, which was rescued from insolvency in 2006 by investment houses Sciens Capital and Plainfield Capital. Procop joined [...]
ROTHSCHILD BANK HEIR COMES IN TO LAND ON PLASTIC BOTTLE BOAT July 25, 2010 IT’S the end of a rather long nautical road today for banking heir David de Rothschild. De Rothschild, a devoted environmentalist, set out from San Francisco back in mid-March, in an attempt to sail over 7,500 nautical miles across the Pacific ocean… in a boat made from 12,500 recycled plastic bottles. The stunt was designed [...]
BILL OF THE WEEK July 25, 2010 LADIES who lunch are clearly back in fashion, if this £1,220.91 lunch bill is anything to go by. This group of well-heeled women headed to Le Cercle restaurant in Knightsbridge for a French tapas lunch last week. They nibbled daintily on a double helping of caviar, quail, duck, scallops, sweetbreads, mackerel, crab and tomato tart, [...]
Positive verdict expected on bank stress tests July 25, 2010 RESULTS from the European bank stress tests came out on Friday but after the close of European markets. Fewer banks than expected failed the tests – just seven smaller ones – and we are likely to see some relief filter through to stock markets this morning. GFT is quoting the FTSE 100 index to open up 35 points from [...]
