FTSE closes the week on a high January 21, 2011 ENERGY stocks led the FTSE into a rebound today following the sharp sell-offs seen in the past two days’ sessions. The FTSE 100 closed up 28.34 points, or 0.5 per cent, at 5,896.25, having hit a five-week closing low on Thursday. Royal Bank of Scotland was by far the biggest riser, up 6.5 per cent [...]
What the other papers say this morning January 20, 2011 FINANCIAL TIMES GE EXPECTS DOUBLE-DIGIT GROWTH IN CHINA General Electric expects “solid double-digit” sales growth in China this year and “for a long period of time”, although revenues there have fallen short of expectations, chief executive Jeff Immelt has said. Mr Immelt said he was “quite happy” with the progress of GE’s business in China. [...]
China records double-digit GDP growth January 20, 2011 CHINA’S economic boom shows few signs of abating, with growth for the fourth quarter of 2010 soaring past forecasts, it was revealed yesterday. And while inflation slowed in December it remains high enough for officials to tighten monetary policy, some economists have said. The Chinese economy expanded by 9.8 per cent year-on-year in the three [...]
China helps drive Remy sales January 20, 2011 Remy Cointreau, the second biggest distiller in France, yesterday forecast strong full-year revenue and earnings growth, driven by strong Asian demand for cognac. The Chinese New Year is on 3 February this year and orders have been strong the company said. Sales in the nine months to December rose 11 per cent overall. The Cognac [...]
Rankings are not the best way to choose your MBA January 19, 2011 WHICH is the best MBA course in the world? According to the FT’s rankings it’s the one at London Business School, followed by those at Wharton, Harvard and Stanford. Argument over? Not quite. If you had instead chosen the Economist’s list, you would be under the impression that Booth School of Business at the University of [...]
FTSE 100 falls back as bank, mining and retail stocks slide January 19, 2011 BANKING and mining stocks weighed on London’s top share index yesterday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.3 per cent lower at 5,976.70, ebbing away from Tuesday’s fresh 31-month high. “The market moved a long [...]
Nestlé in $1bn push to up its African focus January 19, 2011 NESTLÉ, the world’s biggest food group, will invest about 1bn Egyptian pounds (£107.5m) in Egypt over the next three years in a push to shift its focus to emerging markets, an executive said. The maker of KitKat chocolate bars and Maggi soups wants at least 40 to 45 per cent of its business to come [...]
Chinese boom fuels surge in Burberry sales January 18, 2011 BURBERRY yesterday said the Chinese retail boom had helped to fuel its latest sales surge. Like-for-like sales across Burberry’s stores around the world rose by 14 per cent in the last three months of 2010, it said yesterday. The luxury goods company’s star performing market was China where comparable sales leapt by more than 30 [...]
Aussie’s upstream adventures could be over for now January 18, 2011 AUSSIE traders might feel a little like the 19-year-old Australian (pictured right) who tried to use a blow up doll to work his way through the floodwaters last week. It wasn’t so long ago that the Aussie dollar looked certain to be travelling upstream; the Reserve Bank of Australia was sure to raise rates. But [...]
Bullish corporate results bolster FTSE January 18, 2011 THE FTSE rose healthily today and though it gave back some of the gains in the afternoon it closed in the black, up 1.18 per cent or 65.10 to 6,050.80. Banks boosted trading as conditions in the eurozone continued to stabilise, while Burberry was in demand after releasing excellent third-quarter results that showed revenues rose [...]