Private equity is emerging as the friend of Africa October 16, 2011 THE reputation of the private equity industry has been under attack once again. In the UK, troubled private equity backed companies such as Southern Cross care homes have been the subject of high-profile negative press coverage; internationally, music giant EMI has struggled to service its debts. But private equity in emerging markets is a reminder [...]
The City needs to stay the world’s top choice October 16, 2011 BEING the Lord Mayor of the City of London is an all-consuming role; in the past 11 and a half months, I have visited 40 cities in 22 different countries across the globe, delivering around 900 speeches promoting not just the Square Mile, but the whole of the UK-wide financial and professional services industry. I [...]
RAPID RESPONSES October 16, 2011 Heathwick critic Despite Victoria Borwick’s defence of the “Heathwick” scheme on Friday [To keep the economy flying we need more air capacity], the idea is flawed in our view. British Airways already tried the idea of a dual hub a few years ago and it did not work, in part because connection times were uncompetitive [...]
FTSE 100: Trading in a channel October 16, 2011 FOR weeks the FTSE 100 has been trading in a channel – proffering clues on price action for spread betters. The UK index has certainly seen its fair share of ups and downs over the years. From its 1984 base level of 1,000 it peaked at 6,950.6 on 30 December 1999. The financial crisis saw [...]
THE WEEK AHEAD October 16, 2011 COMPANY NEWS ● On Wednesday, Diageo will hold its AGM where it will make its interim management statement. If the £1.6bn that the drinks company spent on emerging market acquisitions has paid off, then shareholders will be celebrating with doubles all round. ● In Petrofac’s interim management statement on Thursday, it will be hoping to [...]
THE TIPSTER October 16, 2011 WEDNESDAY will see Sports Direct kick-off its figures with a trading statement, and it seems that expectations are good. Despite the retail slump, its projected earnings growth is 20 per cent a year for the next two years. Broker Panmure Gordon recently put a 300p price target on it. Capital Spreads quotes 230.6p-232.8p. Xstrata gives [...]
LOOKING FOR SIGNS OF HOPE October 16, 2011 THE Eurozone is in dire need of a quick capital injection, perhaps €2 trillion, says economist Nouriel Roubini. Roubini is not the only economist alarmed by the Eurozone’s banking system. Even outgoing ECB head Jean-Claude Trichet said recently that the systemic crisis must be decisively tackled, as the interconnectedness threatens the Eurozone’s financial stability, and [...]
Companies really can be built upon trust October 16, 2011 I WAS studying at London Business School last year with every intention of becoming a banker when I graduated,” says Nitzan Yudan. “Then my wife wanted to go on holiday to Bruges and since I was a student money was pretty tight, so I was looking for ways to make a bit of extra money.” [...]
Some business partnerships don’t work October 16, 2011 AMERICAN oil magnate John D. Rockefeller said: “A friendship founded on business is better than a business founded on friendship.” And there are countless stories of business partnerships going bad. Steve Jobs famously teamed up with John Sculley only to be fired by him two years later (pictured right). Facebook founder Mark Zuckerberg’s falling out [...]
A journey to the promised land of New World wine October 16, 2011 It was a few years ago, on an evening near Christmas in a neon-lit office boardroom, that I set my heart on South African wine. Until that night, I’d floundered when faced with supermarket wine sections and restaurant lists. Nothing tasted worth the money. And yet wine played an almost daily role in my life. [...]
