Credit Suisse raises £600m to address regulatory concerns August 16, 2012 CREDIT SUISSE is more than half way to hitting its capital target announced last month, the bank said yesterday. The capital boost is aimed at calming regulators and markets who had feared it was under-capitalised. Of the SFr930m (£608m) announced yesterday, roughly SFr550m came from swapping future bonus payments from cash and into shares. Although [...]
TUC: Economy unbalanced August 16, 2012 THE ECONOMY remains unbalanced and so any recovery in growth will lack resilience and sustainability, the Trades Union Congress (TUC) warns in a report published today. Exports and investment are still too low to help the UK return to growth, the report says, while there has been little change in the sectoral make-up of the [...]
US jobs market improves again August 16, 2012 Unadjusted US new jobless claims ticked down 4,000 last week, with a decrease in the seasonally adjusted rolling four week average solidifying the positive picture.
American construction soars August 16, 2012 The number of US building permits granted in July 2012 exploded 812,000 compared to June’s revised rate, an increase of 29.5 per cent on the year.
UK car production accelerates August 16, 2012 Car manufacturing in the UK sped ahead in July, climbing a colossal 22.2 per cent on the month and 15.1 per cent on the year. This figure represents a total of almost 120,000 cars and just over 9,000 commercial vehicles. Engine production edged up 0.3 per cent on the year, reaching over 180,000 in July.
Cineworld banking on 007 and Batman for second half growth August 16, 2012 CINEWORLD, Britain’s biggest movie theatre group, said it expects performance to pick up in the coming months as blockbusters including the new James Bond film are released. The company posted a modest rise in revenues in the first half of the year to £165m, as a five per cent hike in ticket prices offset a [...]
Talvivaara cuts nickel forecast August 16, 2012 Finnish miner Talvivaara yesterday slashed its nickel production forecast to 17,000 tonnes for 2012, down from the previously forecast 25,000-30,000 tonnes. It blamed heavy rain over the summer, which hindered operations at its Sotkamo mine, for the cut. Talvivaara reported nickel production of 6,568 tonnes over the first half of the year to end of [...]
Hikma enjoys strong first half August 16, 2012 Pharmaceutical company Hikma reported strong first-half results yesterday, with revenues from its injectables business up 94 per cent to $225.2m (£143.1m). The Jordon-based generics firm reported operating profit up 53 per cent to $75.1m in the first half of the year to 30 June, with the global injectables business, which makes up 42 per cent [...]
City Moves | Who’s switching Jobs August 16, 2012 RSA The insurer has appointed Matt Hotson as its investor relations director. He joins from Cable & Wireless Worldwide, where he was responsible for corporate finance and investor relations. Hotson was also previously director of investor relations and strategy at Legal & General. Mercer Edmund Teo has been appointed director of wealth management, Asia, at [...]
BEST of the BROKERS August 16, 2012 INTERSERVE N+1 Brewin has upgraded its price target on the support services firm from 347p to 400p and moved its rating from “add” to “buy” after interim results, saying it continues to deliver to plan. ROTORK Panmure Gordon has cut the valve manufacturer from “buy” to “hold” and raises the target price from 2,150p to [...]
