Labour’s plan for business: Government should unite profit with social purpose November 9, 2011 WHEN private equity firm NPM Capital and the current management bought out a sleepy Dutch carpet manufacturer called Desso in 2007, they were seeking to do what all successful investors do: to find a gap in the market from which they could profit. And profit they have. Following the buy out, Desso’s market share rose [...]
Markets slip as Italy debt crisis deepens November 9, 2011 Dramatic political changes at two of the Eurozone’s crisis-ridden economies initially boosted world stocks but markets went into reverse as it became clear that Italy’s debt woes were escalating. Italian Prime Minister Silvio Berlusconi said late yesterday that he would step down after parliament passes budget reforms. Greece, meanwhile, was working create a consensus government [...]
IPOs set for November rebound in the US November 8, 2011 THE IPO machine is set to roar back into life this month with 16 floats due in the US. The 11 deals scheduled for next week will make it the busiest seven day period since November 2007, according to US investment advisor Renaissance Capital. The US listings include consumer reviews website Angie’s List, which wants to [...]
Victory in battle to bring renminbi market to City November 7, 2011 EXCLUSIVE THE CITY has taken a major step towards becoming the first offshore trading centre for the Chinese renminbi after the FSA began work on loosening up regulations for Chinese banks, City A.M. can reveal. Following moves by HM Treasury (HMT) to push the issue up the agenda, the FSA has kicked off due diligence [...]
Rivals Hintze and Odey rise despite gloom November 7, 2011 BIG name managers such as Crispin Odey and Michael Hintze have bucked the autumn gloom in hedge funds by making gains amid hopes Eurozone leaders are finally tackling the debt crisis. Odey Asset Management, one of Europe’s biggest hedge fund firms, saw its European fund, run by founder Crispin Odey, gain 9.1 per cent in October, [...]
Sale is a sensible move but it’s time to break out the cava, not champagne November 7, 2011 CARPHONE took the rough with the smooth yesterday, cashing in on one success while taking the failure of another on the chin. The US sale crystallises value for Carphone shareholders – who are in for a payday – but the deal is not spectacular in and of itself. Best Buy has factored in an expected [...]
Greek affairs so labyrinthine even Theseus would struggle November 6, 2011 INVESTORS and traders alike spent most of last week dazed and confused. Equity, bond, commodity and FX markets swung around wildly as they responded to headline news out of Greece and G20. There was no time available for detailed analysis, and even Theseus would have struggled to navigate the labyrinth that is Greek politics. While [...]
It’s not just the Eurozone: A trade crisis is growing. The G20 must show leadership November 1, 2011 THE crisis spawned in 2007 has in many ways come to resemble Hydra – the mythical many-headed serpent of Ancient Greece, which grew two new heads every time one was cut off – already last Wednesday’s Brussels Summit shows no sign of marking a true turning point for the Eurozone. And while the euro-crisis commands [...]
Chinese manufacturing held back by weak US and Europe November 1, 2011 China’s big manufacturers ran at their slowest pace in October since early 2009, purchasing managers’ data shows, though signs of a bounce-back at smaller firms and a sharp fall in factory-gate prices suggest no swift change to interest rates. China’s official purchasing managers’ index (PMI) fell to 50.4 in October from 51.2 in September, countering [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 31, 2011 FINANCIAL TIMES SHARE PRICE VOLATILITY CARRIES A HEART RISK FOR MARKET WATCHERS Sharp moves in stock markets are closely correlated with a rise in heart attacks, according to a new analysis of studies in the US and China. Two recent academic articles have found a link between equity trends and coronary heart disease, suggesting that [...]