FTSE slides to a six-week low over Eurozone debt worries November 21, 2011 BRITAIN’S FTSE 100 slid to its lowest close in six weeks, with worries mounting over the health of the global economy as the US and Europe wrestled with their respective debt problems. London’s blue chip index fell 140.34 points, or 2.6 per cent to 5,222.60 yesterday, its sixth straight day of losses and adding to [...]
George Osborne has to hold his nerve – the UK economy needs vision, not populism November 21, 2011 EVERY day the pressure grows for the government to do something about growth. Usually this translates into calls for more borrowing and spending, special rules for struggling businesses, or other eye-catching initiatives. The government should resist. Recent history has taught us such quick wins often end up being own goals. They make the business environment [...]
Pearson to buy China education firm for $294m November 21, 2011 Publishing group Pearson announced today an agreement to acquire Chinese-based Global Education and Technology Group for a headline price of $294m (£187.8m). The purchase of Global Education, a test preparation service for students learning English, bolsters Pearson’s position as the world’s largest learning company while also expanding its operations in China. Pearson believes Global Education [...]
Rumoured ECB loans to IMF will keep all eyes on the euro November 20, 2011 ONCE again, investors spent last week battling with the effects of Europe’s ongoing debt crisis. Italian, French and Spanish bonds all fell sharply despite support from the ECB. The European Central Bank bought bonds in the secondary market as part of its Securities Markets Programme (SMP). However, yields on these troubled countries continued to rise [...]
Trading on global risk sentiment November 20, 2011 AS IS the case across all asset classes, sentiment in the commodity markets hinges upon the belief, or lack thereof, in the ability of politicians and policy makers to find a solution to the European debt crisis. With no sign of a meaningful, long-term cure for Europe’s ills on the cards, cyclical commodities, like industrial [...]
South African billionaire in talks to take over Tower 42 November 17, 2011 SOUTH African billionaire Nathan Kirsh could soon be making a comeback to the City as the new owner of the Tower 42 skyscraper. Kirsh’s family office is understood to be in advanced talks to buy Natwest’s former headquarters on Old Broad Street, which would mark Kirsch’s first deal since selling a 29 per cent stake [...]
BHP Billiton urges caution as market outlook turns bleaker November 17, 2011 THE HEAD of mining giant BHP Billiton, Marius Kloppers, sounded a warning yesterday that trading conditions for commodities firms were worsening as the climate became tougher. Kloppers reassured investors at BHP’s annual meeting in Melbourne, Australia, that the environment was not as bad as during the financial crisis in 2008, but said the group was [...]
This tax will not fly: Don’t ground Britain’s growth November 17, 2011 THE chief executives of rival airlines Virgin Atlantic, easyJet, Ryanair and the IAG group – which includes British Airways – do not normally agree to share a platform. That they chose to yesterday morning – outlining their opposition to Air Passenger Duty (APD) – is a sign of how seriously the aviation sector takes this [...]
RENT November 17, 2011 HEAD OF RENTALS AT AYLESFORD INTERNATIONAL Q.I believe the agent letting my house is overvaluing it. I’ve compared my property to other similar houses on the market and they all are significantly cheaper. Should I change agent? A.It is important to keep a dialogue with your agent who will be able to tell you why [...]
BEST OF THE BROKERS November 16, 2011 CARLSBERG Goldman Sachs has downgraded the brewer to “neutral” following recent outperformance, and has a target price of 428 crowns. While the firm’s results last week were strong, the broker now sees better upside potential elsewhere in the drinks sector, given Carlsberg’s exposure to the competitive western European markets. Goldman expects Carlsberg’s Russian beer market [...]