Twitter could go for an IPO, its founder says November 23, 2009 Twitter, the latest social networking craze, may eventually go to the stock market for funding if necessary, its co-founder Biz Stone said yesterday. The three-year-old company was already making some revenue, he added, and would concentrate on growing that next year. “2010 is really going to be the revenue year. I don't know if we're [...]
Jump in sales of distressed commercial property November 23, 2009 Over eighty percent of countries are experiencing a rise in distressed sales in the commercial property market, according to research by the Royal?Institute of Chartered Surveyors (RICS) out today. During the third quarter of 2009, RICS surveyed members and other real estate executives in 25 countries across the globe to ascertain the volume of distressed [...]
Pension funds see growth in the emerging markets November 23, 2009 PENSION schemes are increasingly looking to invest in emerging markets although their overall allocations to equities has fallen as a result of the upheaval in markets across the globe, research has found. According to Baring Asset Management’s poll of UK pension schemes, almost a third are now more likely to allocate to emerging markets as [...]
CITY VIEWS: DO YOU BELIEVE DAVID CAMERON’S PROMISE TO REDUCE CORPORATION TAX? November 23, 2009 FRÉDÉRIC BOURQUIN SOCIÉTÉ GÉNÉRALE“I’ve lost faith in politicians, who have become increasingly concerned with career-orientated status. However, Cameron’s effort to regain the traction the UK offers to companies sounds like a good idea at a corporate level, though on a personal level it may not filter down.” GARI MPARUTSA ACCENTURE“I think he will deliver on [...]
CITY SPORT AWARDS TO GET LEASE OF NEW LIFE November 23, 2009 SPORT fanatics in the City could be forgiven for wondering when their favourite event of the year is due to come around, now that the party season has entered full swing. But I hear the ICAP Square Mile Sport Awards – which last year saw sporting stars such as cricketer Darren Gough, swimmer Mark Foster, [...]
Ratings bodies warn on Mexico November 23, 2009 EMERGING markets took a hit yesterday, as ratings agency Moody’s put out a warning on India, and Fitch cut its rating on Mexico. Moody’s warned that the deteriorating credit conditions in the banking system in India had created fears that problem loans will increase, while banks’ profitability will weaken. India’s banking system, which is largely [...]
THE NEW YORK REPORT November 23, 2009 US stocks snapped a three-day losing streak yesterday as stronger-than-expected home sales data fuelled optimism while a weaker dollar boosted commodity-linked stocks. Sales of previously owned US homes rose to their highest level in more than 2-1/2 years last month. That helped to ease concerns about the sector generated last week when another report showed [...]
HP triples its stock buybacks November 23, 2009 HEWLETT-PACKARD tripled the size of its share repurchase programme to $12bn (£7.2bn), after a strong performance in China and improved profit margins in its services business helped boost quarterly earnings. The US computer firm also posted fourth quarter earnings up 14 per cent after cost cuts. The business reported a net profit of $2.4bn, up [...]
S&P warns on UBS and Citi’s capital November 23, 2009 MOST BANKS are weakly capitalised, with Citigroup, UBS and Mizuho Financial Group more than two-thirds below the average, according to a study by rating agency Standard & Poor’s. S&P yesterday released the first global comparison of risk-adjusted capital (RAC) adequacy for the world’s 45 top banks, aiming to more consistently capture credit risk. “The results [...]
Bill cuts will drain Thames Water payout November 23, 2009 THAMES WATER would be forced to abandon paying a dividend altogether if the water regulator does not alter its push for lower bills. The UK’s biggest water supplier has informed its owners, Macquarie Bank of Australia and a range of pension funds, that they face missing out on a £200m return next year, a source [...]
