Best of the Brokers January 8, 2013 TUI TRAVEL Morgan Stanley yesterday downgraded the travel company from “equal weight” to “underweight” with a target price of 250p, expecting seasonal losses to be higher due to an accounting change and poor cash flow. However, the analyst still sees Tui Travel as a “well-managed business, with strong market shares in European tour operating” that [...]
FTSE 100 edges up as Anglo American names new chief executive January 8, 2013 Markets made a hesitant start to the day, and the FTSE 100 edged up slightly in early trading. News that Mark Cutifani has been appointed to the top job at global miner Anglo American stole the headlines this morning. He starts the role on 3 April and takes over from current head Cynthia Carroll. As [...]
TV makers battle for survival in Las Vegas January 7, 2013 THE WORLD’S biggest TV manufacturers yesterday staked their claims for dominance of the next generation of sets, unveiling a host of super-detailed and internet-connected sets they hope will revitalise a struggling market. Sony, Panasonic, Sharp, Toshiba and LG all used yesterday’s curtain-raiser to the Consumer Electronics Show (CES) in Las Vegas to debut bigger and brighter [...]
Newer models aid Jaguar Land Rover UK sales January 7, 2013 JAGUAR Land Rover has enjoyed a record year for UK car sales and is gearing up for new launches in 2013. The firm yesterday said UK sales rose 19.7 per cent to 68,586 vehicles last year. The Land Rover brand posted its best-ever year in the UK, selling 54,480 vehicles, up 25 per cent on [...]
Markets fly but hangover feared January 2, 2013 MARKETS around the world rallied yesterday after the US agreed an eleventh-hour deal to limit fiscal cliff tax increases and spending cuts, giving equities a much needed boost. The deal averted sharp rises in income-tax for a majority of Americans, but failed to reach any conclusion over cutting the budget deficit, leading analysts to warn the [...]
German Dax rally outpaces FTSE in 2012 January 1, 2013 GERMAN blue chip companies roared ahead of their UK counterparts in 2012 after the Dax market index posted an increase almost five times the rise of the FTSE 100. The German list of premier companies reported its biggest jump in almost a decade in 2012, up 29 per cent, despite continued bartering over the Greek [...]
FTSE 100 predicted to top 6,000 in 2013 despite US budget hangover January 1, 2013 BRITAIN’S FTSE 100 index closed down 27.56 points on the final day of 2012 trading as investors remained anxious over whether US lawmakers can agree crucial budget strategy and avoid the “fiscal cliff”. But despite the fall, to a close of 5,897.81, analysts predict the blue chip share index will rise 8 per cent by [...]
WPP continues shopping spree December 20, 2012 ■ WPP has purchased a majority stake in Australian digital communications firm Bienalto for an undisclosed sum. The FTSE 100 ad giant’s acquisition is the latest in a shopping spree, which also includes Chinese communications agency ArtM and entertainment marketing agency Filmworks China. WPP boss Sir Martin Sorrell has set a target of 35-40 per [...]
Hopes rise for black cab firm after new bid December 20, 2012 VOLVO Car Corporation’s owner Zhejiang Geely has entered the race to take over stricken UK black cab maker Manganese Bronze, after it emerged the Chinese company was in talks to buy the Coventry-based manufacturer. Manganese, which has been making the iconic black cabs through its London Taxi Company since 1948, fell into administration in October [...]
China Gas snaps up Fortune Oil gas business December 17, 2012 CHINA-focused Fortune Oil yesterday said it is to sell its natural gas business to China Gas Holdings for $400m (£247m). The deal, to be approved by shareholders, will net Fortune Oil $200m in cash on completion of the transaction and a further $200m as a deferred consideration, which could be taken as shares. The oil [...]