BEST OF THE BROKERS June 13, 2010 MICHELIN Royal Bank of Scotland (RBS) initiates a “buy” rating for Michelin and says that despite rising material prices, it sees room for Michelin to profit from early implementation of price increases, stronger replacement business momentum, and better underlying earnings due to the cost cuts in 2009. GREENE KING Seymour Pierce has given Greene King [...]
Companies in pensions cull as crisis bites June 13, 2010 MORE than nine out of ten employers are planning to scrap or scale back their defined benefit pension schemes, a survey has revealed. As companies fight for survival following the global economic crisis pensions are being sacrificed. In the poll of 179 major employers, including 34 with more than 10,000 employees, and 38 of the [...]
Bosses taking a tougher line on late workers June 13, 2010 EMPLOYERS are taking a tougher line with staff because of the recession, with one in six prepared to sack somebody for being late just two or three times, a new survey has revealed. Twelve per cent of business leaders in the UK said they would show the door to a worker who was late four [...]
BP’S FORMER RIVAL TESTING THE WATERS VIA THE USUAL CHANNELS June 13, 2010 JOHN Hofmeister, the former president of Shell, has been busy over the past few weeks, sticking his oar in to help former rival BP traverse the oil-slicked waters of the post-spill Gulf. Hofmeister has been a staunch proponent of using giant supertankers to suck up the oil for processing – arguing that the same system [...]
BILL OF THE WEEK June 13, 2010 PLENTY of boozing was on the cards last week for this group of Knightsbridge businessmen, who headed to Langtry’s restaurant on Pont Street for a celebratory lunch. Our diners knocked back two bottles of Bollinger champagne as an aperitif, followed by two bottles apiece of 2007 Nuits-Saint George, Henri Gouges and 2006/7 Meursault Les Tillets. [...]
Be discerning about Europe’s banking sector June 13, 2010 THE last two years have been cataclysmic for the global banking sector. Yet most banks managed to stay afloat during the financial crisis and have returned to profitability this year. And after the wave of volatility that hit the markets in recent weeks, banking stocks are beginning to look cheap. But should investors be buying [...]
THE WORLD CUP TIPSTER June 13, 2010 IT WAS an exciting start to the 2010 World Cup with a tight game between hosts South Africa and Mexico ending in a draw, and an equally tight game between England and the USA. But football traders will be focused on the next games on the schedule. Today sees the Netherlands take on Denmark in [...]
THE TIPSTER June 13, 2010 FOOTBALL results might be capturing everybody’s attention at the moment but there are some key financial scores out this week. Following positive full-year results in March, grocer J Sainsbury is expected to announce first quarter profits this week. Will its management confirm Morrisons’ news that a slowdown in the market has begun? With the firm’s [...]
SPREAD BET GURU June 13, 2010 MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, what are the markets expected to be like during the World Cup? A. If you were thinking that traders are likely to be keeping a close eye on the World Cup and that this could affect volumes, then you are right. Historically, the financial markets have tended to be [...]
US data set to give clues on economic outlook June 13, 2010 US stock investors will keep a close eye on Europe this week, looking for signs the debt crisis may be stabilising, while industrial production, housing starts and inflation data may offer more clues on the US economic outlook. On Friday, an official said the European Union has reached agreement with Greece on how to move [...]
