WHAT THE OTHER PAPERS SAY THIS MORNING April 11, 2012 FINANCIAL TIMES Aviva considers plans for sale of US division Aviva is considering plans to sell its life assurance business in the US in a move analysts estimate could raise at least £1bn and mark an exit from one of the UK-listed group’s core markets. Andrew Moss, chief executive, told investment managers at a recent [...]
A Spice Girls revival is more likely than a Nokia one April 11, 2012 CAST your mind back to 1997. Tony Blair’s New Labour had won a landslide election, Britannia was cool and Channel 5 was going to save the television industry. For some, it is a Spice Girls song that best evokes the era or, for those with better taste, a Radiohead tune. For me, it has to [...]
Gieves & Hawkes sold for £60m April 11, 2012 SAVILE ROW tailor Gieves & Hawkes, which dressed Prince William for his engagement announcement and wedding last year, is being acquired by its Hong Kong licensee Trinity in a deal totalling £60m. The suit maker, which was founded at 1 Savile Row in 1771, makes both military and business suits, and has dressed Winston Churchill, [...]
India and Brazil pick up pace as exports boost output growth April 11, 2012 EMERGING economies expanded strongly in the first quarter, and have plenty of monetary and fiscal “ammunition” to bolster growth should it falter – in stark contrast to European economies, a report by HSBC argued yesterday. Manufacturing production accelerated in India and Brazil, and grew at a slightly slower pace in Russia, the study found, though [...]
FTSE loses almost all its 2012 gains on renewed fears for the Eurozone April 10, 2012 BRITAIN’S top share index plunged yesterday to surrender almost all its remaining 2012 gains, led by falls in risk-sensitive miners, oils, and banking stocks after last Friday’s weak US jobs data undermined global economic expectations. The FTSE 100 index closed down 128.12 points, or 2.2 per cent, at 5,595.55, its second biggest percentage fall of [...]
China opens up to foreign cash April 4, 2012 China said yesterday it will raise the total quota for its qualified foreign institutional investor scheme (QFII), a main channel for foreign investment in Chinese securities, by $50bn to $80bn, as the current programme nears its limit. Boosting the quota was done to “satisfy foreign investors’ investment demands, and move forward in promoting the stable [...]
The outlook for China and its dependants April 3, 2012 BRENDA KELLY CMC MARKETS There are a lot of unknowns and contradictions when it comes to China. The state of its banking sector will be the decisive factor in whether a hard or soft landing is accomplished. While the institutions themselves are reporting high profits and a large deposit base; the levels of debt, the [...]
THE TIPSTER Aussie dollar takes a hit April 3, 2012 The Aussie dollar has struggled to make headway against the dollar recently. The currency has been hurt by concerns of a slowdown in the Chinese economy, although the latest Chinese manufacturing data gave the Australian dollar a lift on Monday. The Reserve Bank of Australia kept its cash rate unchanged at 4.25 per cent yesterday, [...]
Auhua starts trading on Aim April 2, 2012 Auhua Clean Energy, a Chinese energy firm specialising in environmentally–friendly power, has debuted on the Alternative Investment Market with shares closing at 44.5p, up from a launch price of 40p. Auhua manufacturers solar powered water heating systems and will use the proceeds of the IPO to fund expansion.
US DATA KEY TO CONTEST AMONG BULLS AND BEARS April 2, 2012 FX 360 ONE of the more astounding aspects about the recent price action in the currency market is the absolute lack of direction in euro-dollar. Over the past week the pair has traded in a miniscule 150 point range – its narrowest swing in more than four years. With the Greek saga now behind us [...]