Pension deficits fall in the FTSE 100 August 8, 2010 THE TOTAL pensions deficit of FTSE 100 companies shrank by £17bn in the last year and now stands at around £73bn, according to research out yesterday. Britain’s largest companies have spent £11.8bn paying down their deficits in the last twelve months, according to figures from Pension Capital Strategies (PCS) and JP Morgan Cazenove. Charles Cowling, [...]
BEST OF THE BROKERS August 8, 2010 LOGICA Logica continues to trade at a material discount to its IT services peers, according to Standard & Poor’s. The analysts believe investors have overreacted to the threat of cuts in the UK public sector, and that the gap will close. S&P has trimmed its sales estimates by three per cent, but reiterates its “buy” [...]
Business loan complaints rise August 8, 2010 Complaints about small business loans jumped 119 per cent in the year to March, with the financial ombudsman receiving nearly 500 complaints on the subject. Small firms also grumbled about their current accounts, with a rise of 32 per cent to 3,300 complaints. Consumer grievances rose by 27 per cent in the same period, to [...]
CBI calls for clearer energy policy August 8, 2010 The government needs to clarify its energy policy before it loses private sector investment in low carbon projects, according to the CBI. The business group said in a report out today the government should speed up development of carbon capture and storage technology and provide more detail on electricity market reform if it is to [...]
UK oil firms expand after consolidation August 8, 2010 BRITISH oil firms are stepping up expansion and investment after a year of consolidation, says research out today. Companies are making the most of relatively high and stable oil prices to fast track development, according to Deloitte’s biannual rankings of oil producers. Tullow Oil, the largest oil firm to trade exclusively in the UK with [...]
We need to enhance London as a business hub August 8, 2010 LAST week, British Land and Blackstone agreed a deal to build the City of London’s largest office building to house the new European headquarters of UBS. And whilst we are still very early in the planning process – no formal application has been made – the City of London has, as always, been liaising with [...]
DUNSTONE SWEEPS THE BOARD AT COWES August 8, 2010 IT’S been a good year for Charles Dunstone. Not only did the Carphone Warehouse tycoon wed his long-time sweetheart Celia Gordon Shute and deliver robust profits for his shareholders over the past 12 months, he’s also continued to make waves in his beloved sport of sailing. Dunstone took the honours for the super-yacht class zero [...]
CITY EYE August 8, 2010 YOUNG Romy Keller was beaming yesterday after her father Philip, the head of sales at Diagnostic Health Solutions, won a City A.M. competition giving her the chance to walk out with Chelsea footballer Ashley Cole at the Community Shield match against Manchester United, sponsored by McDonald’s. A shame for her that Chelsea lost, but nevertheless [...]
European stocks will rebound after US jobs shock August 8, 2010 THE closely-watched US non-farm payrolls figure was responsible for denting European stock markets on Friday, after the data pointed to a steeper than expected decline. Nevertheless, the Dow rallied some 130 points after European markets closed to recover much of its losses for the day, and that resilience is forecast to carry through and boost [...]
WALL STREET WEEK AHEAD August 8, 2010 US INVESTORS’ eyes are this week on the Federal Reserve, which may provide a fillip to an otherwise dull summer market. Investors are leaning toward the view that the Fed will resort once more to some mild quantitative easing, which may be good or bad for the market. “Bernanke himself has suggested extending the Bush [...]
