Multiples on private trade rise in the second quarter July 25, 2011 MULTIPLES paid by trade buyers for private companies rose sharply in the second quarter of the year, BDO’s private companies price index revealed today. Price to earnings (p/e) multiples spiked to 10.8 in the three months to June, from 9.0 in the first quarter of the year. “With stabilising deal volumes and lower volatility in [...]
Sluggish growth in domestic demand takes its toll on London’s businesses July 25, 2011 WEAK domestic demand is holding back economic recovery in the capital, figures from the London Chambers of Commerce and Industry (LCCI) reveal this morning. While the proportion of companies reporting a rise in domestic activity increased in the second quarter of the year, they remain extremely low by historical standards. “London’s businesses saw conditions improve [...]
CITY VIEWS: ARE YOU CONCERNED ABOUT THE STATE OF THE BRITISH ECONOMY? July 25, 2011 JOHN SATCHWELL | CITYNET “No, I am not worried. I wouldn’t say things are improving strongly, but I think we are safe from going back into recession. There is always such negative press which causes us to believe we are going backwards into a double dip, which I don’t think we are.” GEORGE MACLEAN | [...]
Aussie producer prices rise again July 25, 2011 Australia’s producer price index rose 0.8 per cent at the final stage of production in the second quarter of the year, making for an annual rise of 3.4 per cent. The quarterly based index beat economists’ expectations of 0.6 per cent inflation. In the first three months of the year, producer prices were up 1.2 [...]
Business morale dips in Belgium July 25, 2011 Business confidence in Belgium dropped for the fourth month in a row in July. The Belgian national bank index fell to minus 2.5 in July from minus 1.1 in June. Economists had expected the index to decline to around minus 2.1. “The services sector sub index actually rose from 10.4 to 13.9, while all other [...]
SMALL FIRMS AT RISK FROM SPIRALLING COSTS July 25, 2011 RISING costs are crippling UK businesses, a study by the Centre for Economic and Business Research (CEBR) shows today. Cost inflation is stifling the growth of three quarters (74 per cent) of small firms, with over half the country’s small companies fearing for their survival if costs continue to soar. There has been a 23 [...]
CITY MOVES | WHO’S SWITCHING JOBS July 25, 2011 Lloyds TSB Commercial Finance The asset-based finance providers has appointed Ian Larkin as managing director, to replace the departing Simon Featherstone. Larkin will head up the business that provides a range of asset based finance facilities and complementary products. He joins from the commercial banking division of Lloyds Banking Group, and was previously managing director [...]
BEST OF THE BROKERS July 25, 2011 DIAGEO Nomura rates the drinks giant as a “buy” with a target price of 1261p, and expects the company’s full year results to confirm the revenue increases seen in its third quarter. The broker sees further M&A prospects for the brand in global spirits, following acquisitions earlier this year in Turkey and Vietnam. A more aggressive [...]
FTSE knocked by US default worry July 25, 2011 BRITAIN’S leading share index slipped back yesterday, weighed by weakness in financial issues on fears of a possible debt default by the United States, with investors’ attention switching to precious metal miners and defensively-perceived sectors. At the close, the FTSE 100 index was down 9.76 points, or 0.2 per cent at 5,925.26, snapping a four-session [...]
Fears dent Wall Street July 25, 2011 US stocks dipped in trading yesterday as lawmakers remained in a standoff over raising the debt ceiling to avoid default, but investors were convinced a compromise will be reached before next week’s critical deadline. Trading volume, however, was light even for a seasonally quiet period, suggesting investors were holding to the sidelines. The Dow Jones [...]
