‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
City Views | Do you believe in the coalition’s Economic plans? October 8, 2012 JASON WINDIBANK LLOYDS BANKING GROUP Yes I do, because I think they had to take some very hard decisions and they’ve gone about it the right way. This government inherited a lot of debt; if they hadn’t taken the decision they have, then our triple A ratings would have diminished. STEPHEN HANDS BLOOMBERG I do [...]
Analyst Views | Why is Michael page struggling? October 8, 2012 MIKE VAN DULKEN ACCENDO MARKETS Tough macro growth environment – struggling world growth, austerity impact, financial sector slowdown – is taking its toll on the recruitment sector. Headcount reduction is in place, and not just among clients. Broker consensus figures are set to be trimmed. CAROLINE DE LA SOUJEOLE SEYMOUR PIERCE The poor outturn is [...]
Top candidates exit race to be next Bank boss October 8, 2012 THE COMPETITION for the next governor of the Bank of England heated up yesterday as the window for applications closed, with several high profile candidates ruling themselves out. Goldman Sachs economist Jim O’Neill – who coined the widely-used acronym BRICs – said yesterday he hadn’t applied for the job. And Australian central banker Glenn Stevens [...]
Harding’s Winton Capital ups dividend on back of profit rise October 8, 2012 WINTON Capital Management, the firm founded by hedge fund star David Harding, saw profits jump 23 per cent last year after it added $11bn (£6.9bn) to assets under management in 12 months, accounts show. Harding, who last week publicly revealed his £34m tax bill, helped lead the firm to a £161.9m profit in 2011 compared [...]
Daisy confident on sales rise October 8, 2012 Business telecoms company Daisy Group said yesterday it would report higher first-half revenue and that it remained confident about its business outlook for the second half despite persisting pressure on certain mobile connection commissions. The firm said debt increased during the period due to the acquisition of Worldwide Group Holdings in April. Daisy had reported [...]
Digital ads in double digit growth October 8, 2012 Digital advertising spend increased 12.6 per cent to £2.6bn in the UK in the first half of 2011, research released today shows. The Internet Advertising Bureau’s expenditure report in conjunction with PwC said mobile was the biggest driver of growth, rising 132 per cent to £181.5m, while video advertising rose 43 per cent to £70m. [...]
WPP buys German digital agency October 8, 2012 Advertising giant WPP has bought a majority stake in German digital agency k102 as it continues to expand its online footprint. “The investment will continue the company’s strategy of developing its services in fast-growing and important markets and sectors and strengthening its digital capabilities,” the firm said yesterday. k102, based in Dusseldorf, has worked alongside [...]
Troubled steel markets harm Cookson profit October 8, 2012 COOKSON Group plunged 12.36 per cent yesterday as it issued a profit warning. In an interim management statement, the FTSE 250-listed materials group warned that a weak performance in its engineered ceramics division, which makes products for the global steel industry, would cause it to miss its forecasts for the year. It cited weak steel [...]
Gloomy figures on steel production in Europe make a strong case for a materials group split October 8, 2012 ONE looming breakup overshadowed another for Cookson Group yesterday. The travails of the Eurozone led the industrial materials supplier to warn its full year performance would be below expectations, disappointing those who were looking forward to the conclusion of its strategic review and the potential announcement of a breakup of the group itself into two [...]
Total and Exxon exchange interests October 8, 2012 French oil major Total yesterday said it had exchanged interests with ExxonMobil in undeveloped North Sea assets. Total will swap its interests in four licences for several of Exxon’s interests, including an interest in the Oseberg field and the Dagny field. Total will also pay cash compensation to ExxonMobil. Following the asset exchange, Total’s stake [...]
