FTSE 100 ends up following mixed reactions to the cuts October 20, 2010 Britain’s top share index closed higher yesterday, led by miners on the back of firmer metals prices, with investor sentiment buoyed by positive corporate earnings releases from the United States. The market reaction to the government’s spending review was muted. The FTSE 100 ended up 25.04 points, or 0.4 per cent, at 5,728.93, having closed [...]
A Qatari takes on Wall St October 20, 2010 KAPITOIL BY TEDDY WAYNE Duckworth, £8.99 IT’S 1 October, 1999 and Karim, a genius computer progammer from Doha, is landing in New York. He’s been brought to help a company called Schrub Equities protect itself from the Y2K bug – New York’s biggest security concern at the time. The opening of this first novel by [...]
Blacks fields potential buyers October 19, 2010 CAMPING and hiking retailer Blacks Leisure yesterday confirmed it has received several approaches to take over all or parts of its business. Shares in the company rose 25 per cent to 42.50p following the news that Blacks has taken on financial advisers McQueen to help field potential offers. The share price gives the company a [...]
Facebook couldn’t have been British October 18, 2010 IT is simply untrue that Britain doesn’t produce any wealth and job creating entrepreneurs any more. Take some of the stories in today’s City A.M.; they demonstrate that Britain retains a vibrant start-up and growth culture. Hugh Willis, 50, and Mark Poole, 49, who founded BlueBay in 2001, are today each £82m richer after they [...]
Qatar Holding snaps up 5pc stake of Santander in Brazil October 18, 2010 QATAR will take a five per cent stake in the Brazilian unit of Spanish lender Banco Santander, with a $2.7bn (£1.7bn) investment that adds to its big bank deals in recent years. Santander, the Eurozone’s biggest bank, will issue bonds to Qatar Holding – the direct investment arm of the Qatar Investment Authority – that [...]
FTSE 100 bounces back after a strong performance from the financial sector October 18, 2010 Britain’s top shares rebounded yesterday after falls in the past two sessions, boosted by oils and banks, with better-than-expected results from Citigroup and hopes of more US economic stimulus improving sentiment. The FTSE 100 index ended 39.15 points, or 0.7 per cent, higher at 5,742.52 after falling last Thursday and Friday. The index is up [...]
When weaving a commodities basket, traders must be skilful October 18, 2010 GOLD bullion was down 0.7 per cent to $1,361 while the dollar gained ground against all major currencies except the yen yesterday. Talk of the inverse link between these safe havens is not new and the chart below shows it in action over the last four days. But this relationship is not only true of [...]
Cable ups the heat on banks October 17, 2010 BRITAIN’S biggest banks are today set to face up to small business organisations and business secretary Vince Cable in an attempt to show that they are committed to rebuilding trust between the sector and smaller firms struggling to get access to credit. Cable will chair the first meeting of the Small Business Economic Forum, which [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 17, 2010 THE SUNDAYS The Sunday Telegraph LORD LAWSON URGES OSBORNE CUTS Lord Lawson of Blaby, the former Chancellor and a man used as a sounding board by George Osborne, has urged his successor to “be bold” when making cuts to expenditure in this week’s Comprehensive Spending Review. Lord Lawson said that in spite of fears of [...]
BEST OF THE BROKERS October 17, 2010 BARCLAYS According to Evolution, the UK is most likely to follow Switzerland and implement higher minimum Core Tier 1 ratios. Barclays will have a roughly 8.7 per cent Core Tier 1 by 2012: if the “UK finish” is a 10 per cent ratio, Barclays will be £7bn short of capital. The broker warns a “deal-cum-rights-issue” [...]