Best of the Brokers September 18, 2012 BRITISH AMERICAN TOBACCO Nomura has raised its target price by 3.5 per cent to 3,500p and maintains its “buy” rating on the tobacco seller. BAT is enjoying better volumes in Japan, offset slightly by tougher competition from bootleggers in Brazil, the broker points out. For the year, Nomura has raised its earnings per share estimate [...]
Russian central bank to sell off Sberbank stake September 18, 2012 A MAJOR stake in Russia’s largest bank will go on sale this week, it was announced yesterday, as the country’s central bank takes advantage of positive market sentiment. The 7.6 per cent stake of Sberbank is expected to bring in roughly $5bn (£3.1bn) for the Russian state, with 85 to 90 per cent of the [...]
The Tipster | Imperially smoked September 17, 2012 AFTER a difficult period in early September, investors in Imperial Tobacco will be hoping that Thursday’s update will give the company momentum. Share prices sit in the middle of its 52-week range, after being hit by Russia’s ban on smoking in public. But continued growth in emerging markets should give investors something to cheer about. [...]
Western Union uses football to transfer funds September 16, 2012 WESTERN Union is no stranger to moving money about, and in its new role as global partner of the UEFA Europa League, it’s planning to do so for charity every time there’s a successful pass on the pitch. The global payment services firm announced its three-year sponsorship of the league this July. Now it is [...]
What the other papers say this morning September 13, 2012 FINANCIAL TIMES Deutsche Bank urges rivals to share Deutsche Bank is seeking to convince rival investment banks to share markets and trading software in an effort collectively to lower costs for the financial industry. Law firms queue up for FSA panel City law and accountancy firms are jostling for the opportunity to earn bumper fees [...]
An optimistic tale of the world’s two last financial crises September 11, 2012 THE impact of the 2007-2009 financial crash is far from over. But, despite the doom and gloom, history may give us something to feel cheerful about. Even in living memory there have been plenty of recessions, when GDP growth was negative and employment fell. The UK has experienced them in the mid-1970s, the early 1980s [...]
What the other papers say this morning September 6, 2012 FINANCIAL TIMES Investment banks eye Europe job cuts Big investment banks in Europe, including Nomura, Credit Suisse and UBS, are stepping up plans to cut jobs as they seek to adapt to a drastic slowdown in revenues and tighter regulation. Bank executives, headhunters and analysts say that the cuts are shaping up as the deepest [...]
Russia’s Rosneft halts TNK-BP talks over deal to buy a stake September 6, 2012 RUSSIA’S Rosneft has taken time out in talks to buy a stake in TNK-BP to avoid falling foul of a shareholder’s agreement between its current owners, Rosneft chief executive Igor Sechin said yesterday. BP said in June it would start the process of selling its 50 per cent stake in TNK-BP, which it formed nearly [...]
Russia enjoys investment flood September 6, 2012 Russia is enjoying a flood of inward investment, which can only be helped by its recent accession to the World Trade Organisation (WTO), a report from Ernst & Young said yesterday. In its Russia attractiveness survey the firm found that there had been a 50 per cent increase in foreign direct investment projects over the [...]
Gazprom gearing up to fight EU competition probe into gas sales September 5, 2012 RUSSIA’S Gazprom said yesterday it was ready to talk after the European Union launched a competition probe into its gas sales, but was armed with legal and political reasons why the EU should back off. The European Commission launched the probe on Tuesday into suspicions that Gazprom, more than 50 per cent held by the [...]