Defensives beat a retreat as investors hedge their bets June 9, 2009 THE FTSE 100 ended flat yesterday, with commodity stocks tracking gains in raw material prices as the dollar eased but cigarette makers and pharmaceutical companies fell. The index closed down by 0.43 points at 4,404.79 in a choppy session, after losing 1.2 per cent on Monday. The weaker dollar boosted metal prices, which in turn [...]
LEHMAN CASH PROVES HARD TO RECLAIM June 9, 2009 JAMES COILEYPARTNER, COILEY NINE months have passed since the collapse of Lehman Bothers. Yet many investors in its Special Purpose Vehicle (SPV) platforms are still waiting for their money. Disputes relating to these trades are now hitting the courts in earnest in both London and New York. The transactions are variations of “repackaging” structures. At [...]
Texas lifts Nasdaq but Dow stays flat June 9, 2009 THE Nasdaq rose yesterday after an improved outlook from Texas Instruments lifted technology stocks, but gains on other indexes were limited as plans by big banks to repay government bailout funds raised concerns whether the move would help the economy recover. Shares of Texas Instruments jumped 6.4 per cent to $21.03 after it raised its [...]
Lloyds closes C&G outlets June 9, 2009 LLOYDS Banking Group is to withdraw its Cheltenham & Gloucester (C&G) brand from the high street in a move that will see the bank wield the axe over up to 1,660 staff as it streamlines in the wake of its takeover of HBOS. The bank said it would close all 164 branches of C&G within [...]
Lions call for Jones after Ferris blow June 9, 2009 COACH Ian McGeechan last night stepped in to ease the pain of a double injury blow by drafting Wales captain Ryan Jones into his British and Irish Lions squad. McGeechan’s plans suffered a setback after Stephen Ferris and Leigh Halfpenny pulled up in training with fresh injury concerns yesterday, just hours before tonight’s tour match [...]
Dutch defeat was inspiration June 9, 2009 IT’S not often you can take positives from an embarrassing defeat against the Netherlands in a major international competition, but you could argue that England’s fate last Friday actually lit the touchpaper for the entire World Twenty20 tournament. As we have already seen with the Netherlands beating England and Ireland waltzing through to the Super [...]
Summer of strikes looms at BA as job cuts look certain June 9, 2009 BRITISH AIRWAYS’ (BA) chief executive Willie Walsh sought to soft-peddle its staff’s strike threats yesterday, saying an agreement would be reached with unions. But the airline boss refused to rule out jobs losses. The news comes as the ailing airline looks to axe over 2,000 jobs, as it tries to weather the financial storm. “It’s [...]
Nadal: I’ll give 200 per cent to be fit for Wimbledon June 9, 2009 WORLD No1 Rafael Nadal admitted yesterday he faces a battle to recover from a knee injury in time to defend his Wimbledon title. Nadal pulled out of this week’s Aegon Championships at Queen’s Club because of the problem, which tests have revealed to be tendonitis in both kneecaps. The Spaniard has little more than two [...]
PAKISTAN EASE THROUGH June 9, 2009 PAKISTAN secured their place in the World Twenty20 Super Eights with a comfortable 82-run victory over England’s conquerors, the Netherlands, at Lord’s. Targeting 175-5, the Dutch collapsed to 93 all out with leg-spinner Shahid Afridi (pictured right) posting 4-11. In the later game, South Africa beat New Zealand by just one run in a low-scoring [...]
Government housing data provides further cause for market optimism June 9, 2009 THE DEPARTMENT of Communities and Local Government (DCLG) was yesterday the latest to announce improving data for the UK housing market. Between March and April there was a rise of 1.1 per cent in the prices index of properties bought, putting the price of an average UK house at £189,215, compared to £187,193 a month [...]
