UK shares lifted by banking gains on hopes for Spanish bailout soon October 15, 2012 UK shares rose yesterday, buoyed by gains for heavyweight banks as the sector tracked continental peers on expectations Spain was moving closer to asking for a bailout. A 12.29 point, or 0.2 per cent, move higher to 5,805.61 points was not enough to take the FTSE 100 out of its recent tight trading range, however, [...]
Wall St rises as Citigroup sales beat forecasts October 15, 2012 US stocks climbed yesterday, rebounding from last week’s losses after Citigroup’s earnings and retail sales sharply exceeded expectations. Citigroup shares shot up 5.5 per cent to $36.66 and gave the biggest lift to the S&P 500 after the third-largest US bank reported quarterly adjusted earnings that surged from the year-ago quarter and beat expectations. The [...]
Life companies aren’t up to scratch as grave pensions problem looms October 15, 2012 WE ARE heading towards a serious pensions problem. That much, the experts agree. In the UK alone, some estimates suggest the nation should be putting aside an extra £300bn each year if today’s workers are to enjoy a decent standard of living in retirement. That is the size of the current savings gap – or [...]
This year’s Nobel economists have transplanted theory into good practice October 15, 2012 I AM about to start teaching one of my favourite classes. I provide students with background reading and ask a simple question: how should we allocate kidneys? This year the course will be particularly relevant. Yesterday, we heard that Lloyd Shapley and Alvin Roth shared the 2012 Sveriges Riksbank Prize (the Nobel Prize in Economics). [...]
Trade and tech are the solution to the world’s food crisis October 15, 2012 THE United Nations recently reported that, with global food prices rising, food shortages will likely emerge in developing countries at the end of this year and into 2013. And with today being World Food Day, we must get serious about one of the greatest humanitarian challenges of our time: feeding a global population that is [...]
Is Sir Richard Branson’s personality the real reason Virgin Group is still shaking up UK Plc? October 15, 2012 YES Andrew Mulholland Many of us fondly remember the launch of Virgin Atlantic, the fledgling challenger brand that was going to take the battle to the established big-boys of the airline industry. But now the business touches everything from media to banking, you could be forgiven for thinking Virgin has become part for the very [...]
Rapid responses October 15, 2012 Romney’s limits [Re: A Romney victory would have a big impact on the UK economy, yesterday] The difference between Romney and Obama does look significant, but neither of them will be able to solve the really pressing problems that the US faces. They won’t eliminate the deficit, and they will be unable to sufficiently deregulate the [...]
Coca-Cola bottler has lost its fizz for Greece October 15, 2012 AS GREECE’S politicians prepare for their latest cap-in-hand trip to Brussels on Thursday, some of its largest companies are heading for the exit. Coca-Cola Hellenic, a subsidiary of Coca-Cola which owns 23 per cent of it, is leaving Greece. It is opting for a Swiss domicile and a listing in London where it will join [...]
What it takes to move the FTSE out of its thin range October 15, 2012 FOR the last five weeks, we’ve seen the FTSE trade in a tight range of a couple of hundred points. It would seem that the days of 100 plus point gains and losses are over. So what would it take to drive a breakout from the 5,700-5,900 range? DIRECTION FROM ACROSS THE POND Third quarter [...]
The Tipster | Builder to cement profits October 15, 2012 HOUSE builder Bellway reports today, and traders expect to see profits up as it capitalises on a turnaround in UK housing. The company has focused heavily on homes with renewable energy sources, which has proven to be lucrative. Shares are towards the top of its 52-week range and have risen 40 per cent in the [...]
