Turn your travel dreams into gold December 4, 2011 With the New Year just around the corner, now is the perfect time to start thinking about where 2012 will take you. If your resolution is to discover new places – be it the south coast of England or South America – the Preferred Rewards Gold Card from American Express can make your getaway even [...]
Banks fuel FTSE gains as investors eye US jobs data December 2, 2011 Banks helped lift the FTSE 100 this morning as a concerted effort by central banks to trigger easier credit among lenders continued to bolster investor sentiment. Despite grim manufacturing data from across the globe yesterday — and a bleak outlook given by Bank of England Governor Mervyn King — markets overall have responded positively to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 28, 2011 FINANCIAL TIMES LLOYDS SET TO EASE PRESSURE ON CHIEF Lloyds Banking Group is exploring ways to reduce the workload on António Horta-Osório, its chief executive, as it attempts to convince investors he will be able to make a successful comeback from a period of medical leave. The state-backed bank is considering fortifying the support around [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 24, 2011 FINANCIAL TIMES TERRA FIRMA SEEKS €1BN SOVEREIGN FUND POOL Guy Hands’ Terra Firma Capital Partners is looking to raise up to €1bn (£860m) from a sovereign wealth fund to retain its ability to do deals after the investment period of its buy-out fund runs out next year. The private equity group has been approached by [...]
LORD MAYOR STEPS UP SECURITY FOR AMBASSADORS’ RECEPTIONS November 24, 2011 IT HAD to be the Queen. “No-one else has that level of police presence,” said one City observer when he noted a convoy of four police motorbikes and two impressive cars making its way towards the Walbrook Building in stately fashion. But no – it was Lord Mayor David Wootton, who had stepped up his [...]
Halfords suffers fall in profits November 10, 2011 HALFORDS, the seller of car parts and leisure products, saw pre-tax profits fall by 20 per cent in the first half of the year as hard-up motorists cut back on the maintenance of their vehicles to save cash in tough times. Profit at the group, which owns 466 Halfords stores and 246 Autocentres in the [...]
Admiral boss’ £116m loss as stock plunges November 9, 2011 THE CHIEF executive of car insurer Admiral saw more than £115m wiped off the value of his stake in the business yesterday after the group finally succumbed to the industry-wide slump in profit growth. Shares in Admiral, which also trades under the Bell, Diamond and Elephant brands, closed down 25.61 per cent at 887.5p after [...]
FTSE falls as Italy debt yields spook investors November 9, 2011 BRITAIN’S top shares sank to their lowest close for a week yesterday on spiralling concerns over Italy’s debt as the country’s bond yields raced to dangerous levels. Italy was thrown into the spotlight as its 10-year bond yields shot above seven per cent, levels that forced bailouts in Ireland, Portugal and Greece, and as investors [...]
Buffett says Berkshire hit by derivatives November 6, 2011 WARREN Buffett’s conglomerate Berkshire Hathaway reported a smaller third-quarter profit over the weekend, after losing more than $2bn (£1.24bn) on derivatives related to stock market performance. That was nearly three times what Berkshire lost on the same instruments a year ago. Buffett has criticised derivatives in general, but said these particular contracts were safe and [...]
Car sales rise unexpectedly in October November 4, 2011 Car sales unexpectedly moved up a gear, rising 2.6 per cent in October compared to the same month last year, driven by sales of fleet and business cars. The Society of Motor Manufacturers and Traders said sales to these customers outweighed a fall of 4.3 per cent in private purchases. Sales of cars to businesses [...]