London’s FTSE 100 ends down after weak oil stocks weigh on the market March 22, 2010 BRITAIN’S top share index ended slightly lower yesterday, as weakness in oil stocks outpaced firmer drugmakers, as the US House of Representatives approved a healthcare reform bill, and with miners also in demand. The FTSE 100 ended down 5.58 points, or 0.1 per cent, at 5,644.54 after a volatile session which saw the index dip [...]
Wall Street rises after healthcare bill is passed March 22, 2010 US stocks advanced yesterday, boosted by gains in the healthcare sector as passage of a bill to overhaul the system eased uncertainty for investors. The legislation was passed by the US House of Representatives late on Sunday, and while analysts have raised concerns it will pinch corporate profits, they said much of the negative impact [...]
Germany set to bring in a levy on banking sector March 22, 2010 GERMANY’S coalition government looks set to introduce a banking levy in order to cover the cost of future bailouts. It is understood Angela Merkel’s cabinet could approve the tax as early next week. The move is designed to protect taxpayers and prevent banks from relying on public money. Volker Kauder, the parliamentary leader of Chancellor [...]
CITY VIEWS: WOULD A BANK TAX HURT THE CITY? March 22, 2010 MICHAEL WONG | BARCLAYS GLOBAL INVESTORS “It depends on what level its set at, and would need to be adopted by the US and EU too since this country depends on financial services. The Tories have proposed this as a publicity stunt to win the favour of the electorate, and since the City is about [...]
Forth Ports will hear bid as profit is up March 22, 2010 TAKEOVER target Forth Ports is ready to listen to suitor consortium Northstream. The UK’s biggest listed ports operator will be buoyed after its full-year results showed a swing back into black with pre-tax profits of £36.3m. The firm underwent a series of cost cutting measures that offset a loss of £30.7m the year before. However, [...]
Obama’s healthcare bill will not boost drugs sector March 22, 2010 THE US House of Representatives’ approval of the long-awaited and highly contentious Healthcare Reform Bill leaves final ratification to the Senate. Importantly, although costly ($940bn, or £623bn, over 10 years), the key provisions contained within the Reform Bill are not scheduled to become effective until 2014 and between now and then additional regulations will be [...]
Lloyds’ remuneration chairman quits ahead of investor showdown March 22, 2010 The head of the remuneration committee at Lloyds Banking Group will retire in May, sidestepping a potential fight with shareholders over the bonus awarded to the bailed-out bank’s chief executive. Wolfgang Berndt, 67, will step down from the board at the bank’s annual shareholder meeting, Lloyd’s said. He is leaving just months after approving a [...]
Shell snaps up Arrow in £2.1bn deal March 22, 2010 ROYAL Dutch Shell is on the brink of gaining a lucrative foothold in the energy supply chain to China after a £2.1bn bid for Australia’s Arrow Energy was accepted. Shell’s joint bid with PetroChina is now awaiting the green light from Australian regulators after it was unanimously recommended to Arrow shareholders. The firms do not [...]
I can see clearly now – thanks to ten minutes with a laser surgeon March 22, 2010 ASK around, and you’ll suddenly find that everyone you know either knows someone who has just had laser eye surgery, or they’re about to have it done themselves. It’s like with pop star Lily Allen – she had a big online presence for ages, but nobody one knew had ever actually heard of her. Until [...]
Absence of bidding war kept price low March 22, 2010 IT’S a funny old world. Yesterday, four Rio Tinto employees on trial in Shanghai admitted taking bribes during iron ore contract negotiations. The trial has strained relations between China and Australia, but it looks as though the pair are ready to do business again. Analysts and lawyers expect Australian regulators to wave through a deal [...]
