Fears of a double-dip and the stress tests knock European stock indices July 5, 2010 WHAT a difference a year can make. This time last year we were all worrying about the resilience of the American banks should the economic outlook worsen further while cheering France and Germany’s ability to bounce out of recession in the second quarter. Twelve months down the line, the financial markets are worrying about the [...]
THE TIPSTER July 5, 2010 AMERICAN investors come back to the market place today after an extended weekend celebrating Independence Day. After the recent falls in global equities, this US public holiday could instigate a renewed sense of optimism and send stock indices higher, even if only temporarily – look to take advantage of a feel-good rally on the Dow [...]
Weak banks and miners hurt FTSE July 5, 2010 WEAK banks and miners, beset by doubts over the health of the global economic recovery, pulled down Britain’s top share yesterday, while BP rose on media reports it is seeking a strategic investor. By the close, the FTSE 100 index was down 14.56 points, or 0.3 per cent at 4,823.53, having ended 0.7 per cent [...]
GMG appoints new CEO as McCall quits July 5, 2010 GUARDIAN Media Group (GMG) has announced its chief financial officer will replace Carolyn McCall as chief executive of the struggling firm. Andrew Miller was among the favourites to take the top job after McCall announced she would take up the role of chief executive at easyJet. Amelia Fawcett, chair of GMG, said: “Andrew is the [...]
European shares at a 6-week low July 5, 2010 EUROPEAN shares fell to their lowest close in nearly six weeks yesterday, with miners weaker on a gloomier economic outlook and volumes thin as Wall Street was closed for the Independence Day holiday. A rise for BP helped stem losses for major indexes. The pan-European FTSEurofirst 300 index of top shares fell 0.3 per cent [...]
Doing well can be the best way to do good July 5, 2010 Dambisa Moyo, author of Dead Aid: Why Aid is Not Working and How There is a Better Way For Africa, and I met for breakfast recently. Dead Aid argues that aid to Africa is hurting Africa and should be phased out. It became a New York Times bestseller. She reminded me of one of the [...]
Bunzl takes the plunge to buy Belgian cleaning firm July 5, 2010 aDISTRIBUTION group Bunzl has continued its expansion plan by buying Global Net, a Belgian cleaning company, for an undisclosed sum yesterday. The bolt-on acquisition takes revenues gained from recent takeovers past £100m, adding to five purchases across Europe and the Middle East that boosted trading figures in the first half of the year. Global Net’s [...]
Spyker makes final payment for Saab July 5, 2010 DUTCH carmaker Spyker Cars has used internal funding rather than external debt to pay General Motors the final £15.9m purchase price for Sweden’s Saab, ending concern over how it would foot the bill. Niche carmaker Spyker, which has never made a profit, took over the larger Saab from GM earlier this year and is now [...]
Superdrug reduces losses by cutting costs and keeping focus on local offers July 5, 2010 HIGH Street retailer Superdrug has reported a pre-tax loss of £243,000 for the year to December 2009, against a loss the year before of £7.4m. The firm has pulled its operating profits out of the red to report a £6m gain, compared to a loss of £2.4m last year. Sales were broadly flat at £1.1bn, [...]
Linesman sad at goal gaffe July 5, 2010 THE URUGUAYAN linesman who denied Frank Lampard a legitimate goal against Germany has told England fans: Life goes on. Mauricio Espinosa infamously failed to notice that Lampard’s strike had bounced well over the line during England’s 4-1 second round defeat. The official admits he was wrong-footed by the pace of the shot, which would have [...]
