WHAT THE OTHER PAPERS SAY THIS MORNING March 28, 2010 THE SUNDAYS The Sunday Telegraph OCADO TO HIT PROFIT IN TWO YEARS Ocado’s imminent plans for a £1bn stock market flotation have been given a boost after a detailed research note from an expert retail analyst firm said that the online retailer would be making pre-tax profits within “a two-year time frame”. The note said [...]
NXP will try to raise $1bn March 28, 2010 Dutch chipmaker NXP BV plans to raise at least $1bn (£670m) to cut debt. It has hired Morgan Stanley, Barclays, Credit Suisse Deutsche Bank and Goldman Sachs to help run the sale. A consortium including KKR, Bain Capital and Apax Partners snapped up an 80 per cent stake in NXP BV in 2006 in a [...]
ANALYST VIEWS: HOW IMPORTANT DO YOU THINK THESE CONTRACT WINS ARE FOR BAE SYSTEMS? March 25, 2010 HENK POTTS | BARCLAYS WEALTH These are clearly positive deals for both BAE’s long-term performance and the thousands of people who work there. More importantly, it indicates BAE is still at the cutting edge of technological design and able to win significant orders. The wins are also good for its international standing. JUSTIN URQUHART STEWART [...]
Treasury Committee prepares to grill influential economists’ panel March 25, 2010 THE House of Commons Treasury Committee will next week begin taking evidence for its inquiry into the 2010 Budget. The influential group of MPs will grill chancellor Alistair Darling, who is set to appear on Tuesday along with chief economic adviser Dave Ramsden. But first on Monday economic experts including the Institute for Fiscal Studies’ [...]
FTSE 100 soars to 21-month high boosted by Greek bailout March 25, 2010 BRITAIN’S top shares hit a 21-month closing high for the third day in a row yesterday, helped by a rally in banks as sovereign debt concerns faded, while retailers were boosted by upbeat results from Next and UK retail sales. The FTSE 100 ended 49.77 points higher at 5,727.65, finishing above the 5,700-mark for the [...]
CITY MOVES | WHO’S SWITCHING JOBS March 24, 2010 VANGUARD INVESTMENTS The investment group has appointed David Plumstead to lead its institutional and corporate sales team in the UK. Plumstead initially joined Vanguard in July last year as business development manager, responsible for managing relationships across UK platforms. He has over 25 years of industry experience and previously worked for both Clerical Medical and [...]
CITY MOVES | WHO’S SWITCHING JOBS March 23, 2010 Ernst & Young Dawn Aloof has joined EY from rival PricewaterhouseCoopers, to lead its Europe, Middle East, India and Africa (EMEIA) financial services transaction integration practice. Aloof also previously spent 15 years at Barclays, where she was responsible for clients’ global operating strategy, planning and M&A operations. She is joined by four ex-PwC colleagues: Ari [...]
FTSE 100 peaks at 21-month high led by banks and energy March 23, 2010 BRITAIN’S top share index rose 0.5 per cent yesterday, hitting a fresh 21-month closing high, led by commodity, enErgy and banking stocks as fears over monetary tightening effects ebbed. The FTSE 100 index ended 29.09 points higher at 5,673.63, after hitting an intra-day high of 5,695.94. It was the highest close since June 19 2008. [...]
London’s FTSE 100 ends down after weak oil stocks weigh on the market March 22, 2010 BRITAIN’S top share index ended slightly lower yesterday, as weakness in oil stocks outpaced firmer drugmakers, as the US House of Representatives approved a healthcare reform bill, and with miners also in demand. The FTSE 100 ended down 5.58 points, or 0.1 per cent, at 5,644.54 after a volatile session which saw the index dip [...]
CITY VIEWS: WOULD A BANK TAX HURT THE CITY? March 22, 2010 MICHAEL WONG | BARCLAYS GLOBAL INVESTORS “It depends on what level its set at, and would need to be adopted by the US and EU too since this country depends on financial services. The Tories have proposed this as a publicity stunt to win the favour of the electorate, and since the City is about [...]