OBAMA’S JOB PLAN BRINGS CALLS FOR QE3 September 12, 2011 AT THE end of last week, investors were digesting President Obama’s proposed $447bn jobs package. This was significantly bigger than the $300bn expected, and the hope is that it will encourage firms to start hiring again. But everything comes with a cost, and savings will have to be made elsewhere. The President has passed these [...]
Resistance is futile: French banks come under fire September 12, 2011 AT the end of yesterday’s European trading session, the equities market was a sea of red. European banking stocks were sold across the board, with the French banks being hit hardest. BNP Paribas fell by more than 10 per cent. Its Gallic brothers in arms, Societe Generale and Credit Agricole, also took a heavy battering, [...]
THE TIPSTER September 12, 2011 CFD traders were selling shares in Next as they approached £23.50, a line which has held its advances several times over the last 17 months. Next updates the market with interims on Thursday, where good catalogue and online sales are expected to offset a 1.7 per cent fall in store sales. Spread Co offers a [...]
Healthcare technology is ready for an upgrade September 12, 2011 THE UK’s healthcare technology companies are producing some the world’s most innovative devices, turning profits and making the world a healthier place. However, the UK’s healthcare system does them a disservice, restricting them from punching even further above their weight. EXCITING PRODUCTS With a market capitalisation of $5.1bn (£3.22bn), Smith and Nephew stands head and [...]
Tech Skills a worry despite the optimism September 12, 2011 SENIOR MARKET UNDERWRITER, TECHMEDIA, ZURICH INSURANCE THE technology sector is under continual pressure to adapt, develop and deliver with a high expectation for innovation. The UK economy thrives in the technology arena as we have a rich vein of creativity and entrepreneurialism, especially emanating from universities and other further education facilities. Arguably the greatest invention [...]
Explosion at French nuclear site kills one and injures four September 12, 2011 An explosion at the French nuclear site of Marcoule injured four people and killed one, France’s ASN nuclear safety watchdog said, but local police said there was no risk of contamination. A safety zone has been set up around the site as a precaution. Interior ministry spokesman Pierre-Henry Brandet confirmed that there had been no [...]
HSBC launches sale of non life business September 12, 2011 HSBC has launched the sale of its non-life insurance business, a global division worth about $1bn, and now part of the bank’s plan to strip away non-core units, sources have told Reuters. HSBC, Europe’s biggest bank with a large presence across Asia, had sent out information memorandum to potential buyers, with first round bids due [...]
Colfax to buy Charter after beating Melrose September 12, 2011 US group Colfax is to buy toolmaker Charter International for an agreed £1.53bn in cash and shares, after beating off rival bidder Melrose with a 910 pence per share offer. Charter, which makes tools and equipment, had opened its books to long-time suitor Melrose two weeks ago after the manufacturing buyout firm sweetened its approach [...]
Banks to take £7bn hit from Vickers reforms September 12, 2011 Britain’s banks should shield their retail operations from riskier investment banking units and boost capital levels to protect taxpayers from future crises, according to far-reaching proposals that could cost the industry £7bn a year. The Independent Commission on Banking (ICB) also said banks must hold core capital of at least 10 per cent in their [...]
AB Foods reports flat earnings September 12, 2011 Primark-owner Associated British Foods said it is on track to deliver flat annual earnings on Monday with better than expected sugar profits helping to offset lower than forecast margins at its discount fashion chain. The food and retail group said it expected Primark’s annual like-for-like sales to rise three per cent after a similar rise [...]
