Rugby and wine: NZ’s state of play September 12, 2011 QUAFFER’S CORNER IT’S Rugby World Cup time so let’s cast an eye over the state of play in host country New Zealand – also my home nation. I’m confident in predicting that the winning country will be a wine producer but I won’t tempt fate by going any further. It’s been a tough couple of [...]
Passengers through Heathrow on the up September 12, 2011 A RECORD number of passengers flew from Heathrow airport last month despite the impact of Hurricane Irene, which disrupted flights to the east coast of the US. Heathrow’s owner BAA said 6.6m travellers passed through London’s biggest airport last month, up 0.7 per cent on the previous year. Much of the growth in passenger flights [...]
Rising copper prices hit commuters as thieves steal cables September 12, 2011 LONDON commuters yesterday suffered severe delays on the train network following the theft of copper-based signal cables in Guildford, Surrey. The incident, believed to have taken place on Sunday night, disrupted the journeys of hundreds of thousands of rail customers travelling on South West Trains between Hampshire and London Waterloo. There have been three further [...]
New York gala honours British business leaders September 12, 2011 UK BUSINESS luminaries Martin Gilbert of Aberdeen Asset Management and Michael Spencer of Icap were last night honoured for their contribution to global corporate leadership, at a star-studded dinner in New York to raise money for the British Memorial Garden Trust. The gala was held at the historic Gotham Hall on Broadway, and forms part [...]
METROPOLITAN POLICE GETS A NEW HEAD September 12, 2011 Bernard Hogan-Howe was named as the new commissioner of London’s Metropolitan Police yesterday, giving him the job a year before the capital hosts the Olympic Games and a month after the worst riots in the city in years. The 53-year-old, who has a no-nonsense reputation, replaces Paul Stephenson who resigned in July.
CITY MOVES | WHO’S SWITCHING JOBS September 12, 2011 Savills The property services firm has hired Iain Chapman as senior director of regional commercial leasing in Asia, based in Hong Kong. Chapman began his real estate career in Asia in 1990, joining Savills in 1995, before moving to Colliers in 2000, as director and co-head of Hong Kong commercial leasing. Chapman will work with [...]
BEST OF THE BROKERS September 12, 2011 ARCELORMITTAL JP Morgan rates the global steel giant as “overweight” and reduces its price target from €35 to €26. The broker also reduces its 2011 earnings outlook, with its forecasts for Ebitda down from $11.4bn to $10.6bn, and earnings per share at $2.61 instead of $3.12. The change is mainly due to a fall in [...]
Weak commodities take toll on FTSE but banks rebound September 12, 2011 BRITAIN’S leading share index fell yesterday, on weakness in heavyweight mining and energy issues as commodity prices retreated, while a partial recovery by banks brought blue-chips back from intra-days lows for the month. At the close, the FTSE 100 index was down 85.03 points, or 1.6 per cent, at 5,129.62, having bounced off the session [...]
Hope of help for Italy lifts stocks September 12, 2011 US stocks rose yesterday, bouncing back in late trading, as hopes that Italy could get financial support from China tempered investors’ worst fears over the Eurozone’s sovereign debt crisis. Traders started the day braced for a possible downgrade of France’s top banks by Moody’s rating agency, but sentiment improved as various European officials succeeded in [...]
Trade with the equity sector’s economic cycle September 12, 2011 BUSINESSES prosper at different times. Over the duration of a business cycle, which typically lasts for about seven years, certain businesses do well in the early period of economic expansion, some do better during mid-expansion and others prosper as economic activity begins to lessen. These fluctuations in the business activity of companies can be traded [...]
