Earnings woes push Wall St into the red September 25, 2012 THE S&P 500 suffered its worst day since June yesterday, pulled lower by Caterpillar after it cut its profit outlook, the latest high-profile company to warn about profit growth. Technology shares came under pressure after a second day of weakness for Apple, the world’s most valuable public company. Shares fell 2.5 per cent to $673.54 [...]
New iPhone 5 breaks Apple sales record September 25, 2012 APPLE’S iPhone 5 broke sales records over its debut weekend, although it still failed to meet Wall Street’s expectations, sending shares in the world’s richest company down while arch rival Google hit an all-time high. The latest version of Apple’s most profitable product saw sales of more than 5m from Friday to Sunday, beating the [...]
US stocks drop as Caterpillar slows the Dow September 24, 2012 US stocks edged lower yesterday as a disappointing forecast from Caterpillar and weak German data increased concerns that global growth may remain sluggish. Just before the close, Caterpillar cut its earnings forecast for 2015. Its shares fell 0.9 per cent to $90.87 and were the top drag on the Dow. An index of German business [...]
Duck & Waffle doesn’t have the greatest kitchen in the world but the views are ace September 24, 2012 RESTAURANT DUCK & WAFFLE Heron Tower, 110 Bishopsgate, EC2N 4AY FOOD ** SERVICE **** ATMOSPHERE ***** Cost per person without wine: £44 MY HOUSE is what estate agents would euphemistically call “lower ground”, which translates almost exactly as “basement”. Outside the front door, running underneath the pavement, is a cupboard, which would, once upon a [...]
The New York fairytale hoping to wow London. But is it any good? September 24, 2012 RESTAURANT BALTHAZAR 80 Spring St, New York Tel: 00 1 212 965 1414 FOOD **** SERVICE ***** ATMOSPHERE **** Cost per person without wine: £45 In the late nineties and early noughties, New York’s Balthazar was the very definition of an “it” restaurant. Renowned as one of the hardest places to get a table in [...]
How to make a Drambuie cocktail fit to raise the dead September 24, 2012 City A.M.’s resident cocktail expert TO MAKE Donn Beach’s infamous Zombie cocktail you’ll need white rum, golden rum, dark rum, apricot brandy, fresh pineapple juice, fresh papaya juice, 151-proof rum and grenadine. Good luck with that. Making some cocktails is akin to trying to cook like Heston Blumenthal. You’ll be back on the beer in [...]
What the other papers say this morning September 23, 2012 FINANCIAL TIMES Banks to shed €20bn property loans Europe’s banks are on track to dispose of €20bn worth of loans backed by offices, shops and hotels this year as lenders across the continent race to reduce exposure to the volatile real estate sector ahead of tough regulatory changes. Banks including Lloyds Banking Group, Santander and [...]
Apple seeks further damages in Samsung patent case in US September 23, 2012 APPLE has asked a judge to award an extra $535m (£329.7m) in its US patent case with Samsung Electronics in addition to its requested permanent injunction against sales of Samsung’s infringing products. “The harm to Apple was deliberate, not accidental,” Apple attorneys said in court papers filed 21 September in the US District Court in [...]
Apple shares jump on iPhone 5 launch September 21, 2012 Apple released the eagerly-awaited iPhone 5 to large crowds today around the world, as its shares jumped in early trading. The technology giant’s shares spiked 0.65 per cent in early trading on the Nasdaq, as Apple retail stores opened at 8am to long queues of shoppers. Online pre-sale orders reached 2m in the first 24 [...]
FTSE 100 jumps on mining gains September 21, 2012 The blue chip index consolidated gains in Asia and the US this morning, as once again miners headed up the morning leaderboard on improved copper prices. Essar Energy and Ruspetro rose 4.15 per cent and 3.85 per cent respectively. Heavyweight miners Vedanta and Bumi added 3.42 per cent and 3.4 per cent respectively. Elsewhere, Abu [...]