55 PER CENT BEER BREWER GETS HAMMERED BY ANIMAL ACTIVISTS July 22, 2010 A DOLLOP of mirth for the City yesterday as it emerged that independent brewery BrewDog is up to its record-breaking tricks again. BrewDog, which has twice before held the record for the strongest beer in the world, yesterday unveiled its latest offering, a 55 per cent proof blond ale retailing at £500 a bottle, which [...]
Wall St rallies on corporate outlook July 22, 2010 Upbeat outlooks from economic bellwethers 3M, UPS and Caterpillar catapulted US stocks yesterday as investors shed some of their fears about the strength of the recovery. The parade of prominent names reporting earnings continued after the market’s close with Microsoft, whose shares rose 2.9 per cent in regular trading. The software company reported quarterly results [...]
Morgan Stanley continues down the road to recovery July 21, 2010 WALL Street lapped up a solid set of second-quarter results from Morgan Stanley yesterday, buoying market sentiment after a disappointing performance over the same period from some of the bank’s peers, notably Goldman Sachs. Morgan Stanley beat analyst expectations with post-tax profit of $1.4bn (£921m) for the three months to June, swinging back into the [...]
Sage is poised to appoint Guy Berruyer as its chief executive July 15, 2010 UK SOFTWARE group, Sage, is on the brink of appointing Guy Berruyer as its new chief executive. Berruyer is understood to be the favourite to take over from current boss Paul Walker, who is stepping down from the post after 16 years, according to the Financial Times. Contracts are expected to be signed within days. [...]
DTZ cautious despite profit July 13, 2010 STAFF pay cuts and a strong performance in its Asian business helped property consultancy DTZ return to the black only a year after posting losses of £35.1m. But despite the impressive turnaround to report pre-exceptional profits of £3.6m for the year to the end of April, the London-based company extended its dividend freeze to two [...]
UK’s rating not secure, warns S&P July 12, 2010 GEORGE Osborne’s bid to get the UK’s spiralling Budget deficit under control was dealt a blow yesterday when Standard & Poor’s (S&P) warned Britain remains at risk of losing its prized triple-A rating. The credit rating agency said it was keeping its negative outlook on the UK’s debt despite Osborne’s austerity Budget and warned the [...]
UK recession was deeper than thought July 12, 2010 BRITAIN suffered a far deeper contraction than had previously been thought and the health of the economy was far more reliant on public spending in the first three months of 2010, official figures from the Office for National Statistics (ONS) showed yesterday. The data, which had been delayed by nearly two weeks, due to “potential [...]
CITY LOSES TO OCTOPUS IN FOOTY FORECASTS July 12, 2010 OH, HOW they chortled in the City yesterday at comparisons between the world’s most famous cephalopod and those investment banks who dared to put out predictions on the outcome of the World Cup. Paul the psychic octopus, they sniggered, had managed to get EVERY SINGLE ONE of his predictions correct, beating statistical odds of 1/256. [...]
A new port of call far north of the Algarve July 11, 2010 IF you’re thinking of getting away to Portugal this summer, chances are it’s the Algarve you’re considering, for a bit of sea, sardines or the swing of a golf club. Well fine, the country’s southern region does all those things extremely well. However, British holidaymakers tend to forget what the rest of the country has [...]
DS Smith makes bid for Otor July 7, 2010 PACKAGING and office products company DS Smith has extended its reach in Europe with the purchase of Otor from private equity group Carlyle. DS Smith has made a £206m bid for 95 per cent of the French packaging firm, with the rest of the deal value consisting of assumed debt. The firm, which has a [...]