When in despair, try singing a song to cheer up September 14, 2009 There can be no doubt that public spending needs to be cut back. One way to do this will be to tackle waste and unnecessary spending in the public sector, which in my experience there is plenty of. The following anecdote brought this home to me. This past week, I had lunch with a gentleman [...]
Boss: BMW will beat savings goal September 14, 2009 Carmaker BMW will beat its $8.7bn (£5.23bn) savings goal for 2012, its chief executive Norbert Reithofer said yesterday. He added that new models at the luxury car maker will give a “major boost” to sales. The group, which is based in Munich, is anticipating a gradual improvement in deliveries as demand recovers from the financial [...]
LSE lifted by Rolet effect September 14, 2009 THE LONDON Stock Exchange (LSE) saw its share value rise in August by 11.3 per cent, as the positive effect of new chief executive Xavier Rolet continued, according to the Mondo Visione Exchanges Index. The share price rise was achieved against a backdrop of a fall of -1.3 per cent in overall share values for [...]
BEST OF THE BROKERS September 14, 2009 VODAFONEUBS raised its price target for Vodafone to 130p, saying the firm will benefit from UK market repair, a stronger euro and moves in listed/non-controlled assets. The broker removed its short-term “sell” and moved the stock to “neutral” saying there are few short-term catalysts for underperformance due to a lack of sector results. DS SMITHA [...]
Euroclear bosses to swap jobs September 14, 2009 Clearance and settlement services provider Euroclear yesterday said two of its senior executives will switch roles. Valerie Urbain, managing director and head of human resources for the Euroclear group, and Pierre Slechten, chief executive officer of Belgium, France and the Netherlands operations will swap roles in October.
BBC iPlayer to be regulated September 14, 2009 Ofcom said yesterday that video on demand (VOD) programming, such as the BBC’s iPlayer, will be regulated from December. The regulation would be handled by the Association for Television on Demand, and the Advertising Standards Authority would be responsible for commercial issues.
WEALTHY OUT TO PLAY FOR SPEAR’S AWARDS September 14, 2009 LAST year, the Spear’s Wealth Management Awards were overshadowed somewhat by frantic whispers among the moneyed guests, who watched via BlackBerry as Congress voted against a $700bn bailout of the US banking industry and their Wall Street stock portfolios plummeted. So it was with some trepidation that those guests entered Christie’s auction house in St [...]
FTSEputs in highest close in almost a year on bank gains September 14, 2009 THE UK benchmark share index closed up 0.2 per cent yesterday as buoyant banks and defensive stocks countered weak miners and oils, keeping the index above 5,000 amid optimism over the pace of the rally seen since March. The FTSE 100 closed up 7.38 points at 5,018.85, its highest closing level since late September 2008. [...]
USin further gains as M&Adeals rise September 14, 2009 US stocks rose yesterday as reports of more merger activity added to a string of recent deals, suggesting investors still see value in the market after its run up of more than 50 per cent since March. Optimism about potential deals overshadowed concerns about trade friction between the United States and China after Washington imposed [...]
Lehman Bros bondholders may be owed up to 44bn September 14, 2009 THE trustee holders of collapsed Lehman Brothers’ senior bonds said the debt holders may be owed as much as $73bn (£44bn), after losing their investments when the bank filed for bankruptcy protection a year ago, according to court documents. Wilmington Trust Company claims that holders of the senior debt of the failed bank are estimated [...]
