End of an era as Brown faces disaster June 1, 2009 ALL of Westminster was only talking about one story last night – and for once, it was only indirectly related to MPs’ expenses. I am, of course, referring to the astonishing Ipsos Mori poll showing Labour down 10 points and neck-and-neck with the Liberal Democrats on 18 per cent. The Tories are on 40 per [...]
ITV is offered Setanta stake June 1, 2009 ITV HAS been offered a 30 per cent stake in Setanta, the struggling pay-TV sports channel, CityAM has learnt. The offer came amid recent talks between the two channels, with Setanta desperate to raise cash to help it fund forthcoming rights payments to the Football Association, the Premier League and other sporting bodies. ITV is [...]
IPIC set to sell stake in Barclays June 1, 2009 MIDDLE Eastern Barclays investor International Petroleum Investment Corporation (IPIC) is disposing of some of the shares it took in the bank last Autumn, City A.M. can confirm. The state-owned Abu Dhabi investment group, which took a controversial stake in Barclays and helped it stave off UK government control last year, said it intended to dispose [...]
DESPERATE DARLING FIGHTS FOR HIS JOB June 1, 2009 ALISTAIR DARLING was left clinging to his job last night after Prime Minister Gordon Brown pointedly refused to give his chancellor his full backing after he was involved in another expenses row. Darling was forced to apologise “unreservedly” over a £1,004 expenses claim he made on a south London flat which he moved out of [...]
BEST OF THE BROKERS June 1, 2009 RYANAIRAhead of Ryanair’s preliminary results, Collins Stewart has a “buy” recommendation on the airline. The broker expects a dramatic rebound on full-year 2010 profits as the company’s fuel bill falls. Aggressive fleet expansion remains a risk, said the analysts, but the firm continues to take market share from peers. TOPPS TILESGoldman Sachs upgraded its full-year [...]
HSBC and Berkley fall after Saudi accounts frozen by banks June 1, 2009 SHARES in HSBC and housebuilder Berkeley Group dropped yesterday after the accounts of a major shareholder were frozen by the Saudi Arabian Monetary Agency (SAMA). The Saudi central bank ordered domestic lenders to freeze the bank accounts of businessman Maan al-Sanea, one of the country’s wealthiest businessmen. Sanea is chairman and founder of the Saad [...]
ECONOMIST VIEWS: IS THIS A BEAR MARKET RALLY OR A PROPER BULL MARKET RUN? June 1, 2009 MAX KING INVESTEC ASSET MANAGEMENTIt has all the hallmarks of a bull market. We bought into the rally back in March and at the time our view was: “It’s going up so who cares whether it’s a bear rally or bull market?” Those people who are betting on a bear market rally may end up [...]
FSA extends regime forcing disclosure of short positions June 1, 2009 THE FINANCIAL Services Authority is proposing to extend the regime which requires the disclosure of short positions in financial stocks, it said yesterday. The City watchdog said an extension of the disclosure requirement, due to expire on 30 June, would “help reduce the potential for abusive behaviour and disorderly markets” and also hinted at longer-term [...]
B&B suffers on loan losses June 1, 2009 BRADFORD and Bingley will lose up to £700m on mortgage defaults this year and expects an increase in the rate of loan losses, its chief executive Richard Pym said yesterday. Pym said the number of borrowers more than three months behind on their mortgage had grown from the 4.6 per cent figure it announced in [...]
Crouch has high hopes of keeping Heskey on bench June 1, 2009 PORTSMOUTH’S Peter Crouch insists he is optimistic about keeping his place in the England starting line-up, following rival Emile Heskey’s return to fitness. Crouch marked his start against Ukraine in April with a goal but faces a battle for selection against Kazakhstan on Saturday now that Heskey, a favourite of head coach Fabio Capello, is [...]
