‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Huhne announces £110bn shake-up for UK electricity July 12, 2011 ENERGY secretary Chris Huhne has said more than £110bn is needed to keep Britain’s lights on, in the biggest shake-up of the electricity market since privatisation in 1990. The cash is needed to build the equivalent of 20 large power stations and upgrade the grid, as a quarter of the UK’s generating capacity shuts down [...]
Thomas Cook slumps after profit alert July 12, 2011 THOMAS Cook saw its share price plummet yesterday after it issued a profit warning triggered by unrest in the Middle East and North Africa and belt-tightening in the UK. Europe’s second biggest travel firm said full-year profits will be £60m lower than previously expected – triggering a share price drop of almost a third. The [...]
Standard Chartered warns on bank ringfencing plans July 12, 2011 GOVERNMENT-COMMISSIONED plans to force banks to “ring-fence” their retail and investment arms have been blasted for putting the economy at risk. Standard Chartered, the emerging-markets focused bank, said the central plank of the Independent Commission on Banking (ICB) review “would not address the causes of the crisis or improve financial stability”. “These proposals, coupled with [...]
ANALYST VIEWS: CAN THOMAS COOK TURN THINGS AROUND? July 12, 2011 SIMON FRENCH | PANMURE GORDON Recent weakness in the share price had suggested all was not well at Thomas Cook and we do believe there are some company specific issues particularly in the UK business. We cut our target and say ‘hold’. KEITH BOWMAN | HARGREAVES LANSDOWN In all, whilst management initiatives and a much [...]
Yell surges on ad deal with Microsoft July 12, 2011 YELL shares surged yesterday after the Yellow Pages publisher announced a tie-up with Microsoft to boost the exposure of its online and mobile advertising. The group’s shares, which have fallen by around half of their value since the beginning of the year gained more than 15 per cent during trading yesterday. The embattled firm, which [...]
Phosagro is latest group to get float off the ground July 12, 2011 THE Russian fertiliser group Phosagro has narrowed the range for its planned London initial public offering (IPO) and is on track to float today with a market capitalisation of around $5bn (£3.14bn). The company, whose shares are scheduled to begin trading on the London stock exchange today, narrowed the price range for shares to $13.75-$15.75 [...]
Perform in line with expectations July 12, 2011 Sports rights distribution group Perform yesterday said its first half trading is in line with its expectations. A statement from the firm said it has seen growth across all business areas, adding: “Overall, Perform remains on track to deliver strong full-year growth in line with management expectations.”
Luminar in profit warning July 12, 2011 Nightclub operator Luminar yesterday issued a profit warning after it reported another drop in sales as it failed to pull in young revellers. The Milton Keynes-based company announced a 12 per cent reduction in like-for-like sales for the 18 weeks up to 2 July , worse than expected. Sales fell by 9.7 per cent.
ABB calls for betting changes July 12, 2011 The Association of British Bookmakers (ABB) yesterday called for the government to abolish the 50-year-old Horserace Betting Levy by 2014 and replace it with a commercially negotiated arrangement. The body says the success of the process would depend on the government “facilitating” it through measures such as continuing betting’s exemption from VAT.
Carrefour’s Brazil deal in peril July 12, 2011 Shares in French supermarket giant Carrefour fell yesterday after its bid to get a foothold in the Brazilian retail market was thrown into doubt. Brazil’s government has withdrawn its financial and political support for a controversial tie-up between retailer Pao de Acucar and the local unit of Carrefour. The rejection sent Carrefour shares down by [...]
