Lowest FTSE close in ten months as US manufacturing lull fuels double dip fears July 1, 2010 BRITAIN’S top shares hit a 10-month closing low yesterday as downbeat data from the US, China and Britain sparked double-dip recession fears, triggering a broad sell-off, with banks and miners the hardest hit. The FTSE 100 fell 111.12 points, or 2.3 per cent, to 4,805.75 – its lowest close since 3 September 2009. Markets were [...]
Genmab hit by Glaxo deal revision July 1, 2010 GlaxoSmithkline (GSK) and Denmark’s Genmab said yesterday they had amended a licensing agreement for their Arzerra cancer drug in a way that will have a “material impact” on Genmab’s 2010 prospects. The companies did not specify the effect on Genmab which will receive an upfront payment of £90m from GSK but will see planned milestone [...]
Greece to strike again July 1, 2010 Greece’s main labour unions called a 24-hour strike for 8 July yesterday in protest against sweeping pension reforms to help end a debt crisis. It will be the sixth joint stoppage this year by Greece’s main public and private sector unions, which together represent about 2.5m workers, or half the Greek workforce. Private sector union [...]
Labour figures and metal miners drag on Wall St July 1, 2010 US stocks fell yesterday as manufacturing and labour market data heightened fears of a double-dip recession before today’s key employment report. Major indexes were lower for a fourth straight day after suffering their worst quarter since late 2008, but losses eased near the end of the session. The Dow Jones industrial average dropped 41.49 points, [...]
No bids yet but that’s okay, says chairman Broughton July 1, 2010 LIVERPOOL chairman Martin Broughton says there have no been no bids for the club yet but still hopes a sale will go through by the end of August. The Reds’ American co-owners Tom Hicks and George Gillett officially put the club on the market in May, with British Airways chief Broughton tasked with overseeing the [...]
ITV: Broadcasting reform is urgent July 1, 2010 ITV has launched a plea to the government to overhaul the “archaic” regulatory system it says is strangling the industry. Chairman Archie Norman used the firm’s annual Parliamentary Reception to implore MPs to tear up the broadcasting rule-book. Norman said: “You must be wondering why we have put on this party when we can’t afford [...]
Pick your money manager wisely July 1, 2010 AS A nation, we are apparently more likely to seek professional advice on our hair, our gardens and our cars than on our personal finances. Yet with the growing number and complexity of products on offer, it is becoming more important for people to seek advice before they take a decision – particularly if their [...]
Kindle price cut for second time in a week as war hots up July 1, 2010 Amazon cut the price of its Kindle range of e-readers for the second time in a week yesterday as it unveiled its updated DX model. In a bid to stave off fierce competition from Apple’s iPad, Amazon cut the price of its high-end reader from $489 (£327) to just $379. The new version features a [...]
Argentines and Germans agree: England are rubbish July 1, 2010 ARGENTINA and Germany took time out from verbally attacking each other in the build-up to tomorrow’s eagerly awaited quarter-final to join forces and ridicule England’s woeful World Cup. Martin Demichelis, the Bayern Munich and Argentina defender, sunk the knife in deepest by pouring scorn on John Terry’s below-par performance in Sunday’s 4-1 drubbing by Germany. [...]
fine wine is the ultimate liquid asset July 1, 2010 GARY BOOM MD & FOUNDER OF FINE WINE MERCHANT BORDEAUX INDEX Welcome to what is the first in a series of short articles looking at wine investment. While the City is well acquainted with the sensory pleasures of wine, it tends to be much less familiar with holding and trading wine as an asset. With [...]
