Greece woes spoil continental party January 18, 2010 EUROPEAN shares rose in early trade yesterday, recovering some of Friday’s losses, with miners gaining on higher metals prices. In morning trading, the FTSEurofirst 300 index was up 0.6 per cent at 1,058.15 points. Miners were among early gainers, as copper rose on hope that strong Chinese demand could cut inventories. Precious metals were also [...]
Optimism seeps back to the City’s financial services firms January 18, 2010 THE financial services industry in London showed signs of optimism in 2009, with 39 per cent of businesses claiming to be more optimistic about their prospects this year, compared to 23 per cent in 2008. An improvement in sales was one reason for cheer, with 94 per cent of respondents reporting either stable or increased [...]
Miners lend muscle to FTSE as banks shake off US blues January 18, 2010 BRITAIN’S leading share index took on 0.7 per cent yesterday, as heavyweight mining issues rallied with firmer metal prices, while banks moved higher awaiting further earnings news from US peers. At the close, the FTSE 100 index was 39.02 points higher at 5,494.39, albeit in subdued trade with US markets closed for Martin Luther King [...]
BROKER WILLS & CO OPENS FIRE ON FSA’S REGULATORY CRACKDOWN January 18, 2010 WHEREAS most City firms are content to whinge ineffectually about the Financial Services Authority’s new heavy-handed approach to regulation, it seems that others are starting to put their money where their mouth is. Rumours have been busy swirling in the Square Mile over the regulatory status of private client stockbroker Wills & Co, which can [...]
Nightmare of Greek figures January 18, 2010 THE head of Europe’s statistics agency has had “sleepless nights” over Greek economic data and statistics for 2007 and 2008 debt and budget deficits are still not reliable, Eurostat’s director-general said yesterday. Speaking on Greek television, Walter Radermacher said he could not validate Greek figures, adding parts of Greece’s public sector, such as hospitals, were [...]
A sad day as Cadbury bites the dust January 18, 2010 IT is a great shame that Cadbury’s management has succumbed so easily to Kraft’s advances. Ever since I can remember, the British confectioner had been stalked by predators; yet for years it defied the doubters and refused to go the way of that other Quaker giant, Rowntree, snapped up by Nestle in 1988. Under the [...]
UK gives £20m to Haiti January 18, 2010 BRITAIN tripled its aid commitment to Haiti to £20m yesterday as rescue teams struggled to help remaining survivors of last week’s devastating earthquake. The humanitarian funds will go towards providing food and shelter to tens of thousands of people left without basic provisions after the disaster left capital Port-au-Prince in ruins. The EU pledged more [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 18, 2010 FINANCIAL TIMES BUYOUTS AT 25-YEAR LOW DUE TO LACK OF CREDIT The number of private equity deals in the UK hit a 25-year low last year, as the credit crisis cut off the supply of cheap debt and dissuaded business owners from selling out. There were 117 private equity deals in 2009, fewer than half [...]
NEWS | IN BRIEF January 18, 2010 Goldman recommends equities Investment banking supremo Goldman Sachs has advised clients to pile into equities. At its annual strategy conference, the bank said the world was on the brink of a major bull run as corporate profits are poised to jump sharply higher. Goldman said markets were in transition from a “hope phase” to a [...]
BA asks staff to retrain as cabin crew January 18, 2010 BRITISH Airways (BA) has vowed to train thousands of baggage handlers and call centre workers as flight stewards in a bid to break a March strike. Chief executive Willie Walsh last night squared up to Unite, the cabin crew union, by sending a letter to 38,000 BA employees asking them to volunteer and cross picket [...]
