Bad debts to peak in the third quarter says Spain’s Sabadell January 28, 2010 Spanish retail bank Sabadell’s losses on bad loans will peak in the third quarter and total provisioning this year should be down from 2009, the bank’s chairman said yesterday. “We think 2010 will still be a year of high provisions because of the expected trend in bad debts, but 2008 and 2009 have been the [...]
BEST OF THE BROKERS January 28, 2010 PUNCH Merrill Lynch selects Punch as one of its top pub picks for 2010. It notes that peer Enterprise, its other top pick, recently posted a much improved trading update, and expects Punch to follow suit in early March. Reiterates its “buy” rating, adding that valuations across the sector look “attractive”. HSBC UBS reiterates its [...]
Nokia beats expectations as its smartphone sends profits soaring January 28, 2010 TOP mobile phone maker Nokia’s fourth-quarter sales and profits, reported yesterday, beat expectations as it regained market share in smartphones, sending its stock price 14 per cent higher. The strong results cap an otherwise tough year for Nokia and the cellphone industry, which have been hammered as consumers cut spending in the recession. Nokia’s underlying [...]
The man with the Midas touch January 28, 2010 FEW people can say that Gordon Brown gave them a great business idea. Paul Tustain, the founder of BullionVault.com, the internet-based gold trading firm, can. When the current prime minister, then chancellor of the exchequer, sold off the nation’s gold supply in the late 90s, Tustain decided that was a good signal to buy. But [...]
ALSO OUT THIS WEEKEND January 28, 2010 FILM THE PRINCESS AND THE FROG Disney makes a return to hand-drawn animation and fairy tales. ADORATION Director Atom Egoyan’s drama stars Devon Bostick as a troubled teenager. BREATHLESS South Korean drama about a bitter debt collector who is charmed by a high school gir DVD CLOUDY WITH A CHANCE OF MEATBALLS Madcap animation with [...]
Marston’s boosted by food sales January 28, 2010 PUB group Marston’s saw sales grow after a festive food boost – but the cold snap hit takings. Sales at managed pubs open more than a year were up 1.5 per cent in the 16 weeks to 3 January. That included a 2.9 per cent increase in the five weeks to 2 January – with [...]
Toshiba on the comeback trail January 28, 2010 JAPAN’S largest chip maker Toshiba has said it made a smaller-than-expected loss in the final three months of last year due to a recovery in its electronic components business. The company made a net loss of 10.6bn yen (£72.7m) compared with 121.1bn yen a year earlier. Toshiba’s chip business was hit last year but is [...]
Update your business profile January 28, 2010 For the past couple of years Facebook’s primary use has been to keep in contact with old friends and family. Likewise, when people think of Twitter they might think of Ashton Kutcher or Stephen Fry tweeting their latest thoughts in less than 140 characters. But the need to cut overheads during the recession – especially [...]
Q&A VENTURE CAPITAL? January 28, 2010 Q. I would like to get venture capital funding for my new start-up, but how do I go about getting it? A.The first thing you should do is research. Most venture capital (VC) firms focus their funding in a particular area. Start by looking for VC firms that specialise in your area. Once you know [...]
Paradise complete with tax benefits January 28, 2010 WITH taxes for top earners sure to increase in the coming years, there has been much talk of City types moving abroad. Switzerland has been the country mentioned most often. The lure of Geneva, Zurich and Zug, it is supposed, will prove irresistible to London-based bankers because of the low tax regime. But will it [...]
