WHAT THE OTHER PAPERS SAY THIS MORNING May 13, 2012 FINANCIAL TIMES Canary Wharf claims high ground on City Canary Wharf will finally come of age over the next two months when the UK’s “new” financial centre overtakes the traditional City of London as the biggest employer of bankers in Europe. According to Financial Times research, the transfer of 8,000 jobs by US bank JPMorgan [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 9, 2012 FINANCIAL TIMES CRH to build on stake in China CRH blamed bad weather in Europe in the first quarter and volatility caused by the Eurozone debt crisis for reduced earnings in the first four months of the year in spite of a stronger recovery in the US market than expected. The Irish building materials group said [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 7, 2012 FINANCIAL TIMES Chinese groups drive rise in pre-sold HK IPOs Zhengzhou Coal Mining Machinery has enlisted nearly a dozen banks to hunt down investors willing to take stakes in the Chinese business ahead of its $1bn Hong Kong listing, an example of a trend gripping the world’s biggest market for new listings. Hopes rise UK [...]
Investors queue up to hear from Zuckerberg ahead of Facebook IPO May 7, 2012 FACEBOOK kicked off a road-show to promote its $10bn (£6.17bn) float yesterday. Chief executive Mark Zuckerberg fielded questions about the social network’s slowing revenue growth and defended its $1bn purchase of Instagram, telling attendees he would do the deal again if he had to. Hundreds of investors had formed a line outside New York’s Sheraton [...]
The Hindenburg Omen isn’t a hit May 7, 2012 NAMES for technical indicators don’t get much more dramatic than the Hindenburg Omen – simultaneously referencing the German airship tragedy of 1937 in which 36 people lost their lives and bringing to mind haunting visions of the psychotic Damien from the infamous horror film, the Omen. Chris Beauchamp, market analyst at IG Markets, believes a [...]
Why the gold to silver ratio counts May 7, 2012 SIMPLY put, the gold-silver ratio represents the number of ounces of silver that it takes to buy one ounce of gold. The gold-silver ratio has the advantage of stripping out the dollar denominational aspect of taking a straight position on gold or silver. When you take a spread bet on the silver or gold spot [...]
EURO BEARS STILL DOMINATE AS CONTAGION RISKS SPREAD May 7, 2012 CHIEF MARKET STRATEGIST The past week was very much a case of “wait and see,” given the US non-farm payrolls data and a slew of economic figures from around the world. In general, the picture was mixed, with stronger figures from the US and China for their manufacturing sectors, but Eurozone and UK data still [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 3, 2012 FINANCIAL TIMES Banks look to farm out SME lending Several large European banks are weighing the idea of outsourcing a portion of their core small business lending to a new crop of loan funds, in a further sign of the growth of the “shadow banking” industry in Europe. A number of banks including UBS and [...]
China chews up Weetabix in £1.2bn buyout May 3, 2012 A CONTROLLING stake in historic breakfast cereal firm Weetabix has been sold to China in a £1.2bn deal in the latest swoop for British assets. State-owned Bright Foods, based in Shanghai, has taken a 60 per cent stake in the Weetabix Food Company in the largest foreign acquisition by a Chinese food group. Weetabix, which [...]
Hermes gets Asian lift yet warns over drag from European crisis May 3, 2012 HERMES’ first-quarter sales have grown strongly as Chinese buyers flock to stores in both Europe and Asia, yet the French luxury goods firm yesterday warned that the weak European economy could drag down growth in 2012. The slowdown was not yet evident in the April figures, chief executive Patrick Thomas said, noting that the month [...]