FTSE lifted by healthy earnings November 9, 2010 BRITAIN’S leading shares closed higher yesterday, boosted by results from Barclays, Schroders and Associated British Foods. The FTSE 100 closed up 25.23 points, or 0.4 per cent, at 5,875.19, after closing down 0.4 per cent on Monday. The index is up 8.5 per cent this year and has jumped around 23 per cent since hitting [...]
CITY MOVES | WHO’S SWITCHING JOBS November 9, 2010 Colliers International Anthony Michael Horrell has taken up the chief executive’s mantle at the real estate advisory firm. The 49-year-old was until recently head of Jones Lang LaSalle’s capital markets group in Europe, spearheading the expansion of the international capital markets business. He spent a total of 27 years at the firm and is also [...]
Indian equities are too expensive to be attractive in the short-term November 9, 2010 PRESIDENT Barack Obama’s visit to India this week affirmed its status as a rising global power and as a country that is set to assume greater importance on the world stage. Its achievements have long been overshadowed by its northern neighbour China but India has quietly marched along the path to development. It is certainly [...]
UK industrial output grows at forecast rate November 9, 2010 British industrial output grew in line with expectations in September, though its manufacturing component was slightly weaker than forecast, official data showed. The figures do not point to any future revision of the initial third-quarter GDP estimate, and will not shift market expectations that the Bank of England will keep interest rates at record lows [...]
Barclays profit hit by weak investment banking November 9, 2010 Barclays said key investment banking income remained weak in the past four months, countering a sharp improvement in bad debts that lifted the British bank’s underlying third-quarter profit. Barclays, whose chief executive John Varley will be succeeded by investment bank boss Bob Diamond at the end of March, said it made an underlying July-September pretax [...]
There’s still no such thing as a free lunch November 7, 2010 MILTON Friedman said that there is no such thing as a free lunch, but even he might have been surprised by the cost of a meal today. World food prices have soared back up to levels last seen in the crisis of 2007-2008, leading some to warn of renewed food riots. Russia recently extended its [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 7, 2010 FINANCIAL TIMES DHL CHIEF PROMISES ACTION OVER BOMB FEARS The head of one of the three big air-express companies has reacted to the parcel bombs sent from Yemen and Greece by pledging better screening of customers and packages before they reach airports. “What we need to do is improve surveillance at the pick-up point, have [...]
Standard gets 98.5 per cent rights backing November 7, 2010 STANDARD Chartered said investors representing 98.5 per cent of its shares signed up for its $5.3bn(£3.3bn) rights issue, which will boost the Asia-focused bank’s capital ahead of tougher global rules. Standard Chartered yesterday said it had received valid acceptances in respect of 256.7m shares offered to shareholders. Bookrunners will sell the shares not taken up, [...]
Slow trading to hit Barclays November 7, 2010 BARCLAYS is tomorrow expected to reveal that investment banking income plunged in the third quarter as trading activity declined, though impairments may fall due to an improved outlook in Spain. Barclays Capital, the investment banking arm led by Bob Diamond, who is due to take over from John Varley as chief executive next year, is [...]
BoE Inflation Report set to widen debate November 7, 2010 THE Bank of England’s quarterly Inflation Report will be scrutinised particularly closely by the market for clues to the future direction of British monetary policy when it is published on Wednesday. The three-way split among the Monetary Policy Committee (MPC) members has created growing uncertainty about the timing and future direction of changes to interest [...]