WHAT THE OTHER PAPERS SAY THIS MORNING May 26, 2010 FINANCIAL TIMES APPLE, HP AND DELL INVESTIGATE FOXCONN AFTER SPATE OF SUICIDES Apple, Dell and HP, three of the world’s largest IT companies, said yesterday they were investigating working conditions at Foxconn after a series of suicides at the huge factory in southern China where Foxconn makes electronic goods. Nine workers at Foxconn’s Shenzhen plant, [...]
Nationwidesuffers as profits halve May 26, 2010 NATIONWIDE, Britain’s largest building society, said it expected broad stability in the housing market over the next 6-12 months, when posting a near halving of full-year profit yesterday. House prices have recovered ground in recent months, though they fell in February and April, according to rival lender Halifax, raising questions over the strength of the [...]
Nationwide profit plunges by 46pc May 26, 2010 NATIONWIDE Building Society has reported a 46 per cent drop in annual profits as low interest rates continue to take their toll. Underlying pre-tax profits dropped to £212m for the year to 4 April compared with £393m a year earlier. The group said it expected the difficult conditions to continue throughout the year. Meanwhile it [...]
Nasty double whammy for investors May 18, 2010 WITH all the focus on growth and the deficit, too little attention has been paid to inflation. Yesterday’s disastrous figures show how unwise this has been. The rise in the official consumer price index inflation to 3.7 per cent is bad enough – but I suppose it can be tolerated, given the ending of quantitative [...]
PERSONAL FINANCE NEWS May 13, 2010 POST OFFICE HAS NEW GROWTH BOND The Post Office has just launched a new growth bond, which offers one-, two- and three-year terms and with rates up to 4.10 per cent AER. The Growth Bond Issue 12 has a minimum opening deposit of £500 and a maximum of £1m. But additional deposits aren’t allowed and [...]
Santander in £426m profit April 29, 2010 SANTANDER, the eurozone’s largest bank, grew its UK profits by more than 15 per cent in the first quarter as it bit off a greater market share in mortgage lending. The Spanish giant yesterday said trading profits were £426m in the three months to March. In a challenge to Britain’s high street players, Santander expanded [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 20, 2010 FINANCIAL TIMES TRAFIGURA LIFTS VEIL TO REVEAL $1BN PROFIT Trafigura, one of the world’s leading oil and metals traders, has told bond investors it earned almost $1bn last year, revealing the extraordinary profitability of the publicity-shy Swiss-based trading houses which dominate commodities markets. The company raised €400m ($438m) recently on its first Eurobond issue after [...]
Labour manifesto rejects capitalism April 12, 2010 THERE was a time when manifestos were serious, thoughtful pieces of work, the fruit of lengthy policy debates within political parties. Those days are not just long gone but completely forgotten, at least if yesterday’s manifesto from the Labour Party is any guide. Many of its claims collapse as soon as one looks at them [...]
We’re being too gloomy on outlook for retail March 28, 2010 SO the clocks have changed, there’s now more daylight than darkness and spring is here. It’s time for some optimism, unless you happen to be a retailer. In the last week some of the biggest names in the high street have been queuing up to tell us how fearful they are about the consumer. Of [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? March 24, 2010 KATE SOLWAY, 30 FUNDS CONTROLLER AT PRIVATE EQUITY FIRM COGNETAS Kate is single and lives in rented accommodation with flatmates. She also owns two investment properties – one a London flat with a mortgage which she rents out, and the other a holiday home under construction in Cape Verde, which she owns outright and will [...]