Dow climbs despite fears over finance reform bill April 26, 2010 US STOCKS edged lower yesterday as bank shares fell on fears that financial reform making its way through Congress will curb profits, while Caterpillar’s strong results buoyed the Dow. A proposal to overhaul financial regulation that could restrict lucrative derivatives trading was expected to face a crucial Senate test vote yesterday and weighed on financial [...]
Hertz drives forward with growth plan April 26, 2010 CAR rental group Hertz yesterday agreed to buy smaller rival Dollar Thrifty for about $1.2bn in a deal that will make it the second-biggest US car rental company. Shares of Hertz, which also raised its earnings and revenue outlooks for 2010, rose as much as 18 per cent to touch a two-year high after the [...]
Start-ups secure funding as recovery kicks in April 26, 2010 For those of us on the ground building businesses, a new reality is emerging as the recovery sets in. Ariadne has won funding for five companies in 2010 including Everyclick, which has secured a hefty sum from new and existing investors. Why are so many start-ups getting funded – in our portfolio and elsewhere – [...]
European lawmakers eyeing tougher regulations for dark pool trading venues April 26, 2010 Dark pool trading venues may need more regulation to avoid harming public share prices for investors, European Union lawmakers said yesterday. Dark pools are trading venues that allow buyers and sellers of large stock orders to avoid revealing pre-trade information and signalling their intentions to the rest of the market. “The question is at what [...]
CITY VIEWS: WHAT WILL HAPPEN TO HOUSE PRICES OVER THE NEXT YEAR? April 26, 2010 GREG KERSCH | INVESCO PERPETUAL “House prices will rise gradually over the next year, although a lot depends on the election. Anything could happen if there is a hung parliament. Bankers’ bonuses are likely to have an effect on London’s house prices continuing to rise.” MATTHEW ROBSON | PREQIN “There’s certainly a lot of hope [...]
House price recovery set to continue April 26, 2010 ECONOMISTS are awaiting the latest data on house prices from Nationwide due this Thursday after property data company Hometrack yesterday said prices in England and Wales rose by an annual 1.8 per cent in April – their fastest pace of increase since January 2008. The City is watching for further signs of a strengthening housing [...]
US priority on protecting trade April 26, 2010 American officials yesterday welcomed a new study showing the importance of innovation to US economic growth and promised vigorous action to curb the huge international trade in fake and pirated goods. “The United States has long been acknowledged as a global leader in fostering innovation and improvements in technology,” deputy US trade representative Miriam Sapiro. [...]
Caterpillar beats expectations April 26, 2010 Caterpillar yesterday reported a stronger-than-expected quarterly profit and raised its full-year profit and sales forecasts, citing an improving global economy, especially in Asia and Latin America. The world’s largest maker of earth-moving equipment said it was seeing particularly robust orders from mining and energy companies.
Whirlpool sales create a stir April 26, 2010 Leading household appliance maker Whirlpool’s quarterly profit and full-year forecast trumped Wall Street estimates on strong sales in Brazil, Asia and North America, boosting its shares to an all-time high. Whirlpool, maker of Maytag and KitchenAid appliances, has benefited from its presence in fast-growing Latin American and Asian markets, fuelled by a growing middle class.
Law firms up headcount outside UK April 26, 2010 LINKLATERS has become the latest commercial law firm to announce partner promotions, as the City’s top law firms boost foreign office numbers. The UK’s largest law firm by revenue promoted 14 associates to the partnership rank, with the number of promotions marking a decrease on the previous year when 18 made the grade. “These promotions [...]
