Revenue miss for MasterCard August 1, 2012 SHARES in MasterCard fell yesterday as the US card provider said global purchasing growth had slowed to its lowest pace in more than a year. The firm reported a 15 per cent jump in net income for the three months to the end of June, while revenues rose nine per cent to $1.82bn (£1.17bn), missing [...]
ICE credits rule changes for lift August 1, 2012 INTERCONTINENTAL Exchange yesterday credited the swathe of new financial rules for its 18 per cent jump in net income to $143m. Revenues rose eight per cent to $351m (£225m), in part thanks to its work helping clients “comply with new requirements under financial reform”. A strong showing for ICE’s energy futures market helped cushion a [...]
Mayor-raising fault on zipline dismount August 1, 2012 WAS it a bird? No, not nearly elegant enough. Was it a plane? Hopefully not, given its speedy path towards Victoria Park. And Superman would never sport a blue hard hat and Union flags. Boris Johnson’s ungainly descent down a zipwire in east London became an online sensation yesterday when he came to a halt [...]
Gold medallists are first class August 1, 2012 GOLD medallist cyclist Bradley Wiggins and rowing winners Helen Glover and Heather Stanning really are first class – with the Royal Mail stamps to prove it. The triumphant Team GB athletes’ wins are being celebrated with two special edition stamps. Royal Mail, which is producing the stamps within a day, will also paint a mailbox [...]
LONDON 2012 IMAGE OF THE DAY August 1, 2012 Throughout the Olympics, City A.M. will be publishing its Olympic Image of the Day. If you have a shot you think our readers will like, please email pictures@cityam.com Tower Bridge was lit up in gold last night to celebrate the UK’s climb to the top of the podium. The golden glow is set to be [...]
CITY VIEWS | IS THE CITY SUFFERING FROM THE OLYMPIC EFFECT? August 1, 2012 GRAEME KALBRAIER CALL CONNECTION (LLOYDS OF LONDON) I don’t think City business has been affected by the Olympics at all, though I do think the smashing Olympic complex and the new Westfield complex is a people-magnet. PAUL ALLAN F W BERRINGER Walking around I can see retail activity is still robust, and there are a [...]
Treasury plans new regime for financial firms August 1, 2012 INSURERS and investment firms could face a major shakeup as the government takes steps to avoid bailing out any financial firm – not just banks which are already being reformed, announced Mark Hoban, financial secretary to the Treasury yesterday. In an effort to avoid any repeat of the breakdown which led to the American insurer [...]
CITY A.M. | OUR SHADOW MPC VOTES 7-2 FOR NO NEW ACTION August 1, 2012 ALLISTER HEATH | CITY A.M. “No change – this recession can’t be resolved with ever looser monetary policy, and more asset purchases will have negative side-effects. Instead of endless monetary manipulation the government must allow the private sector to thrive through meaningful supply side reform.” CORIN TAYLOR | INSTITUTE OF DIRECTORS “The UK is in [...]
Bank forecast to hold rates August 1, 2012 SHADOW MPC members forecast the monetary policy committee (MPC) would hold fire on rate cuts and increased asset purchases (QE) when it votes on policy today, while the effects of last month’s QE and funding for lending (FLS) filter through. Only two of the nine shadow committee members predicted change, with Corin Taylor from the [...]
Comcast beats expectations August 1, 2012 Comcast posted a higher-than-expected profit yesterday as an increase in customers offset weakness at NBC Universal, and the firm said it no longer expects to lose money on Olympics 2012 coverage. Second-quarter net income rose to $1.35bn from $1.02bn a year ago.
