A second dose of the fabulous freakish truth October 28, 2009 SUPERFREAKONOMICSBY STEPHEN DUBNER AND STEVEN LEVITTPENGUIN, £20.00 WRITING a sequel to one of best-selling pop economics books of the last decade was always going to be hard. And it took Steven D Levitt and Stephen J Dubner more than four years to create Superfreakonomics, the “freakquel” to their original collaboration, Freakonomics. Like the original, Superfreakonomics [...]
20-hour shifts are the recipe for success October 28, 2009 IT’S 9AM and Marcus Wareing looks very tired. We’re in the kitchen at his self-named Mayfair restaurant, the best in London, according to Harden’s Guide. It is unusual for a chef of Wareing’s fame and brand-power to be so involved in the kitchen, but he is nothing if not hands on. “This morning I’ve been [...]
THE LONG LAUNCH… October 28, 2009 JEFF GALVIN WE FOLLOW THE GALVIN BROTHERS AS THEY COUNT DOWN TO THE OPENING OF THEIR NEW CITY RESTAURANTWHEN talking about opening a restaurant, my brother Chris and I like to use car analogies. We have spent weeks showing everyone our Ferrari-like stove and our DB7 of a wood-fired oven. We have held many team [...]
When you are betting on the oil price, timing is all-important October 28, 2009 JUST how high can the oil price go? It broke through $80 last week, and in the past few days Barclays Capital analysts said that they think that oil has now made the transition into a higher trading band and a sustained improvement in demand should continue eating into excess inventories. The chances of oil [...]
LOCK IN YOUR PROFIT BUT STAY EXPOSED October 28, 2009 ALEXANDRE HOUPERTHEAD OF LISTED PRODUCTS UK, SG CORPORATE & INVESTMENT BANKINGFOLLOWING strong rallies in global equity markets, many traders are now keen to extract some of the profit that they have earned on existing positions to free up capital and to protect themselves, should we see a pullback in stocks. However, these same investors will [...]
Putting the drama back into LSE share trading October 28, 2009 XAVIER Rolet, chief executive of the London Stock Exchange (LSE), is looking to rekindle some of the fun and excitement of share trading that has been lost since the bulk of the City’s traditional open outcry trading floors were closed. As City A.M. first revealed on Tuesday, the LSE is axing the sculpture known as [...]
Gatwick sale damages BAA October 28, 2009 Spanish-owned BAA, the company which runs airports around the UK, reported massive losses yesterday after the forced sale of its major asset Gatwick. The company, which has come under fire from the Competition Commission (CC) for its monopoly on airport ownership around the UK, said pre-tax losses hit £784.7m, worse than a £519m loss a [...]
BEST OF THE BROKERS October 28, 2009 CADBURYInvestec said that Cadbury’s interim management statement should be good for valuations of the firm, but that a more contingent approach to the potential end-games leads it to be less bullish overall. The broker decreased its target price for the stock to 840p and downgraded its rating to “hold”. BPCitigroup said that, with BP trading [...]
Cosco profits tumble in downturn October 28, 2009 Cosco Pacific, Asia’s third-biggest container-terminal operator, posted a 49 per cent drop in third-quarter profit yesterday as the recession hit world trade. Net income slumped to $40m (£22m) from $77.7m a year earlier, the Hong Kong-based company said. Sales fell 8.5 per cent to $83.4m, it added. Container traffic fell 4.2 per cent in the [...]
NDA selling off its Sellafield Site October 28, 2009 A consortium of energy firms yesterday agreed an option to buy a site at Sellafield on the Cumbrian coast in northern England for a new nuclear power plant as part of the UK’s plans to replace its ageing state-built reactors. The consortium, made up of Spain’s Iberdrola, French group GDF Suez and Scottish & Southern [...]
