FOCUS ON: CROYDON, GREATER LONDON July 23, 2009 39 RADCLIFFE ROAD, CROYDON, CR0 5QJPrice: £765,000If you’re a cricket lover glued to the television at the moment, then this smart four-bedroom period house backing on to the exclusive Whitgift Foundation’s cricket grounds is exactly what you are looking for. It comes with four bedrooms and has been refurbished to the highest standard by the [...]
How to turn your home into an eco friendly palace July 23, 2009 FINDING ways to make your home kinder to the overtaxed enironment has become an enormous topic since it grew so close to our hearts. These days, it’s not even about simply doing your bit for the earth’s atmosphere – it’s about looking like a caring citizen of the modern world. To be found keeping extra [...]
ANALYST VIEWS: WHAT’S ON THE HORIZON FOR GLAXOSMITHKLINE? July 22, 2009 SAVVAS NEOPHYTOU PANMURE GORDONWe are encouraged by good gross margins and strong revenue growth across GlaxoSmithKline’s portfolio, particularly in vaccines. GSK is building towards a diversified business model that will be attractive to risk-averse investors and, although we are not fans of conglomerates, we remain buyers. JAMES KNIGHT COLLINS STEWARTPharma companies have a proven ability [...]
Drug giants are bullish on future July 22, 2009 GlaxoSmithKline takes orders for 195m doses of its swine flu vaccine… PHARMA giant GlaxoSmithKline (GSK) has taken 195m orders for its swine flu vaccine and is currently in talks with over 50 countries over stockpiling the drug, it said yesterday as it unveiled second quarter results. The firm will also ramp up production of its [...]
Goldman is finally free from Tarp July 22, 2009 GOLDMAN Sachs has finally escaped the US government’s Troubled Asset Relief Programme (Tarp), after redeeming stock warrants issued to the Treasury. The bank, which booked record profits of $3.44bn (£2.1bn) in the second quarter, said it had repaid $1.1bn to the government for warrants issued when the Treasury ploughed $10bn into the bank via Tarp. [...]
KeyCorp underperforms and turns to cost cutting July 22, 2009 REGIONAL US bank KeyCorp fell to a worse-than-expected second-quarter loss of $390m, (£237m) or $0.68 per share, yesterday. The figures represent a turnaround from the $1.13bn, or $2.70, lost in the same quarter of last year, but still underperformed an analysts’ consensus of a $0.41 per share loss. Chief executive Henry Meyer said the results [...]
US Bancorp beats forecasts but credit losses mirror US economic troubles July 22, 2009 US BANCORP posted a 76 per cent year-on-year decline in second quarter profit yesterday, as it suffered mounting credit losses amid ongoing deterioration in the US economy. Second-quarter net income fell to $221m (£134m), or $0.12 a share, compared to $926m, or $0.53, a year earlier, despite a nine per cent rise in revenue to [...]
Record profit can’t ease Wells Fargo bad loan fear July 22, 2009 WELLS Fargo, the largest mortgage lender in the US, reported record second-quarter net income yesterday but gave a bleak assessment of its rising bad loans problem. Net income for the three months to the end of June rocketed 81 per cent to a record quarterly profit of $2.58bn (£1.57bn), or $0.57 a share, compared to [...]
Writedowns hit BNY Mellon July 22, 2009 BANK of New York Mellon (BNY Mellon) saw its second-quarter profit fall by 43 per cent, due to charges on the state aid it received from the US government, coupled with losses in securities and writedowns relating to the housing market. The New York-based custody bank said net income sank to $176m (£107m), or $0.15 [...]
Third straight quarterly loss for MorgStan July 22, 2009 MORGAN Stanley reported a worse-than-expected second quarter loss yesterday on the back of charges linked to its government bailout and tightening credit spreads. The Wall Street bank slumped to a loss of $1.26bn (£770m), or $1.10 a share, during the three months to the end of June, as it incurred an $850m charge on the [...]
