FTSE steadied by Greek breakthrough July 21, 2011 The FTSE 100 started solidly this morning as it emerged that France and Germany had reached an agreement on a second bailout for Greece. Banks led the way as investors gained confidence in stocks recently buffeted by fears of exposure to the debt crisis which has engulfed the Eurozone. Leaders of the 16-country bloc will [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 17, 2011 FINANCIAL TIMES TESCO TO TRIAL LOYALTY CARD AT US OPERATION Tesco is poised to trial a version of its successful Clubcard loyalty scheme in the US, as it strives to stem losses at its Fresh & Easy chain. Tim Mason, chief executive of Fresh & Easy, said the business, which currently has 176 stores and [...]
Nestlé spends $1bn to buy stake in Chinese candymaker July 11, 2011 NESTLÉ, the world’s largest food company, is paying a hefty $1.7bn (£1.1bn) for a 60 per cent stake in candymaker Hsu Fu Chi International to move deeper into fast-growing markets in China. Nestlé’s biggest deal in China so far will take it closer to its target of 45 per cent of sales from emerging markets [...]
Global recovery fears hit banks as they lead the FTSE lower July 11, 2011 CONCERNS over Europe’s debt crisis and the global economy sent Britain’s top shares sharply lower yesterday, leaving investors anxious for a strong earnings season to kick-start further buying of equities. The UK benchmark index ended down 61.42 points or one per cent at 5,929.16, its lowest close since 29 June, extending a 1.1 per cent [...]
China’s economy looks to be on shaky ground July 11, 2011 INFLATION in China hasn’t been tamed. Statistics released at the weekend suggest annual inflation for June is running at 6.4 per cent, up from 5.5 per cent in May; while food inflation for June shot up 2.7 per cent on the month to 14.4 per cent. Tomorrow, China will release its GDP statistics, which are [...]
All the world buys into London July 10, 2011 Office Space CENTRAL London looks set to be the prime beneficiary of a renewed appetite for direct investment into UK commercial property. The capital already tops the league table of largest global property investment markets, netting close on £11bn in 2010, significantly more than closest rivals Tokyo, Paris and New York. And the prospects for [...]
Commodity shares lift FTSE on sunny US and China stats July 7, 2011 COMMODITY stocks led the FTSE 100 sharply higher yesterday, as US jobs data boosted confidence that the world’s biggest economy was showing signs of picking up heading into second-half. Integrated oils rose along with crude oil as reports showed US private employers stepped up hiring in June and the number of Americans filing for jobless [...]
EU guilty of credit rating hypocrisy July 7, 2011 SOME people simply can’t win. The largest credit rating agencies – Moody’s, Standard & Poor’s and Fitch – were rightly pilloried for providing ridiculously optimistic advice in the run-up to the financial crisis, deeming bundles of sub-prime mortgages to be as safe as the debt of very cautious and successful companies or governments. It was [...]
EU guilty of credit rating hypocrisy July 6, 2011 SOME people simply can’t win. The largest credit rating agencies – Moody’s, Standard & Poor’s and Fitch – were rightly pilloried for providing ridiculously optimistic advice in the run-up to the financial crisis, deeming bundles of sub-prime mortgages to be as safe as the debt of very cautious and successful companies or governments. It was [...]
Lagarde takes swipe at DSK July 6, 2011 CHRISTINE Lagarde began her tenure as IMF chief with a swipe at her predecessor, saying her leadership will be “more inclusive”. She used her first speech as new IMF chief to say she will push ahead with reforms to give fast-growing emerging markets more influence at the global lender. The former French finance minister said: [...]