BEST OF THE BROKERS April 22, 2010 PUBLICIS Execution Noble reaffirms its “buy” rating on Publicis after the advertising group reported organic revenue growth of 3.1 per cent for the first quarter, a strong improvement from the 5.4 per cent decline in the last quarter of 2009. It expects modest margin expansion, after adjusting for charges due to the acquisition of Razorfish. [...]
Volcanic ash shows need to pick the right travel policy April 22, 2010 AEROPLANES might be returning to the skies once again, but for many business travellers and holidaymakers who have been stranded abroad or had their plans disrupted, the fallout is only just beginning as they start the process of claiming back their money. While the volcanic eruption was an unprecedented event, it has brought home the [...]
Repatriation costs deemed a benefit in kind April 21, 2010 LAWYERS warned yesterday that tax bills for both employees and employers associated with the disruptions caused by the Icelandic volcano are to sky rocket as the HM Revenue & Customs (HMRC) takes a hardline on repatriation costs. Commercial law firm EMW Picton Howell said yesterday that the HMRC will demand tax payments on any expenses [...]
GOLDMAN AND GORDON HAVE SEEN BETTER DAYS April 21, 2010 GORDON Brown’s savage attack on Goldman Sachs for being “morally bankrupt” must have come as a surprise to those who can recall a time when the Prime Minister’s attitude to the bank was rather different. BGC’s veteran market commentator David Buik yesterday reminisced about a fundraising gala dinner he attended years ago in aid of [...]
ELECTION2010 April 21, 2010 IMF hurts Brown with forecast The International Monetary Fund yesterday slashed its 2011 UK growth forecast, delivering a pre-election blow to the government. The Washington-based fund cut its growth forecast for next year from 2.7 per cent to 2.5 per cent. It maintained its 2010 forecast. Its forecast is signficantly lower than that of chancellor [...]
CITY EYE April 21, 2010 JUBILATION reigned in the City yesterday as an airborne passenger jet streaked through the skies, a sight which has become all too rare over the past week
Sky ready for round one with Ofcom April 21, 2010 SKY and Ofcom will tomorrow begin what promises to be a long and tortuous legal battle over the future of pay TV. Sky will appear before the Competition Appeal Tribunal to request a stay of implementation on Ofcom’s new rules forcing the broadcaster to slash the prices it can charge rivals for Premier League football. [...]
Relief as UK flight ban ends April 20, 2010 ALL UK airports re-opened last night after the Civil Aviation Authority (CAA) decided to remove restrictions on airspace. The first British Airways flight landed at Heathrow around 10pm, spelling an end to the six day ban on flying. The announcement came after experts reassessed the risk to planes from volcanic ash. The CAA said that [...]
Grounded commercial flights create a boon for private jets April 20, 2010 A RAFT of private jet and helicopter companies have cashed in on the chaos generated by thousands of grounded commercial liners as they transported stranded business passengers to and from mainland Europe. Operators, including NetJets, Ocean Sky and Jet Aviation have seen the number of requests sky rocket as most of Europe continues to face [...]
FUND MANAGEMENT NEWS April 20, 2010 MORNINGSTAR RATES NEW FUNDS Fund information company Morningstar has just assigned ratings to four funds available for sale in the UK. GLG’s Japan CoreAlpha Equity fund receives an elite rating thanks to the experience of fund managers Stephen Harker and Neil Edwards who are “talented stock pickers who have put their long experience to excellent [...]