It’s time to start re-thinking your attitude to trading the oil market July 12, 2009 WHAT a difference a year makes. With crude oil sinking below $60 a barrel on Friday for the first time since mid-May, it seems incredible that it was only 12 months ago that oil hit a record high of $147 a barrel, fuelling speculation among industry players that it could reach $250. Oil prices had [...]
SUMMER WILL BE CHOPPY FOR INVESTORS July 12, 2009 JANE FOLEY RESEARCH DIRECTOR, FOREX.COM THE FTSE 100 index and sterling have been trading in a similar pattern since the spring. Both the FTSE 100 and the Bank of England’s effective exchange rate – which measures movements in the pound against a basket of currencies weighted by their importance to UK trade flows – trended [...]
THE TIPSTER NEW SHARES PLACING LIFTS SAINSBURY’S July 12, 2009 SUPERMARKET chain Sainsbury’s had been doing well in the first months of 2009 despite consumers tightening their belts, and its share price reached a high of 347.25p in the middle of May. But its share price then slipped to around 309p and the stock has been trading broadly sideways since then. However, the announcement of [...]
Beyond Tokyo Japan offers tranquility, history and cute monkeys July 12, 2009 KYOTOWhen America was at war with Japan, it left Kyoto off of its list of air raid targets. Even as an enemy, the US realised that it would be inhuman to destroy the city, with its countless temples and winding streets that drip with history, some of it dating back to the Eighth century. Having [...]
BARCLAYS EYES MORE SELL-OFFS July 12, 2009 BARCLAYS is edging closer to a sale of its private equity business, just weeks after it offloaded its fund management unit Barclays Global Investors (BGI) to BlackRock. The bank – widely seen as one of the big winners from the credit crunch – will meet with investors in Barclays Private Equity (BPE) this week to [...]
Friends deal is rebuffed July 12, 2009 RESOLUTION Clive Cowdery is expected to approach life insurer Friends Provident’s shareholders directly with his £1.7bn merger bid, after it emerged that the board will reject his approach later today. Friends’ board will issue a statement rejecting the offer price, which it believes to be too low. But investment vehicle Resolution is understood to have [...]
UBS delays US hearing July 12, 2009 UBS and the US government yesterday appealed to a federal judge to delay the start of a hearing, scheduled for today, as they seek to resolve their dispute over US demands for the identities of thousands of wealthy Americans suspected of using the Swiss bank to dodge taxes. The parties asked that the trial be [...]
RHJ fights for GM Opel deal July 12, 2009 RHJ INTERNATIONAL is stepping up its bid to broker a deal with General Motors for a controlling stake in Opel after talks between the US carmaker and Magna International stalled. The Brussels-listed industrial holding company, linked to US buy-out firm Ripplewood, is set to present GM with a better offer early this week. In May, [...]
Higher mortgage rates are here to stay July 12, 2009 SO Nationwide is offering a mortgage that will allow some of its customers suffering from negative equity to move homes. So far, so mundane – but the loan will be worth 125 per cent of the value of the new property. I spent an hour debating this with David Kuo of Motley Fool, the popular [...]
US Treasury backs dollar July 12, 2009 US TREASURY secretary Timothy Geithner says he is not concerned that the US dollar is weakening as a reserve currency, despite recent criticisms from China, Russia and France. “I actually don’t worry about that,” Geithner said in an interview. “In part because if you just look at the response of the world…when people are most [...]
