Confidence in UK economy may be short-lived after production data October 28, 2012 CONFIDENCE in the UK economy may take a knock this week, with manufacturing data unlikely to match the strong GDP news released last week. After last week’s upbeat news that the UK has officially exited recession, the manufacturing purchasing managers’ survey (PMI) due on Thursday is expected to show the sector contracted again in October. [...]
FTSE 100 down as Anglo American in spotlight October 26, 2012 The blue chip index was down in early trading, as investors were cautious on weak data from the Eurozone and biding time ahead of US GDP released this afternoon. Mining shares bore the brunt of losses, although Anglo American bucked the trend, adding 2.1 per cent, as chief executive Cynthia Carroll announced she was to [...]
Barclays looks to bring fresh talent to board October 25, 2012 BARCLAYS is planning a gradual realignment of its board in the coming months, with some of the longer-serving members preparing to make way for fresh blood. The bank has no set limit or target size for the board and chairman Sir David Walker is known to be on the lookout for new talent. The bank [...]
Odey ups Man Group stake October 25, 2012 ODEY Asset Management yesterday sharply increased its stake in Man Group, taking a bold bet on a fightback by the struggling computer hedge fund firm. Odey, founded by veteran fund manager Crispin Odey and which is known for its lucrative bet in 2009 on a recovery in Barclays shares, has increased its stake in Man [...]
Who’s switching jobs October 25, 2012 McCarthy & Stone The construction firm has appointed Mark Elliott as its new chief executive. He previously worked for Arena Leisure, the hotel and race course operator, where he oversaw its merger with Northern Racing in March 2012. Elliott was also formerly chief executive of Wembley. Otkritie The Russian financial services firm has appointed Ruben [...]
FTSE 100 up as Britain leaves recession October 25, 2012 The blue chip index was up in early trading, as the economy expanded by one per cent in the three months to September, the strongest quarterly growth in five years. Companies announcing results also helped to buoy the FTSE 100, such as consumer giant Unilever, which added 3.36 per cent as it announced rising sales. [...]
What the other papers say this morning October 24, 2012 FINANCIAL TIMES Walker plans Barclays clear-out Sir David Walker is planning a clean sweep of Barclays’ board after he formally becomes chairman of the scandal-tainted bank next week and will also oversee the replacement of some executive positions. The City grandee has been sounding out top figures over their suitability to join the bank in [...]
Barclays defends itself in key interest swap misselling suit October 24, 2012 BARCLAYS was yesterday gearing up to face down interest rate mis-selling claims, with the Guardian Care Homes (GCH) suit set to come before a judge on Monday. The pre-trial hearing will see GCH present its accusations at the Commercial Court, while Barclays will defend itself. The judge will then decide which, if any, of the claims [...]
What did you make of punch taverns’ performance? October 24, 2012 SIMON FRENCH | PANMURE GORDON With Ebitda below our expectations and debt higher than we forecast, our confidence in a positive outcome for shareholders continues to diminish. As such we reduce our target price to 7p, reflecting the group’s balance sheet value of its investment in Matthew Clark of £44.5m. Hold. JAMES MARTIN | BARCLAYS [...]
Student housing attracts £2bn worth of investment says CBRE October 24, 2012 INVESTMENT in student accommodation in the UK has soared to a record £2bn since the start of the year, despite the sector seeing a decline in student numbers following the hike in tuition fees. New research from property consultants CBRE published yesterday showed that investment into student accommodation jumped 145 per cent in the first [...]