ITV warns of an uncertain time ahead May 7, 2010 ITV, the commercial broadcasting group, has warned investors that the outlook for the second half of the year – post the election – was “highly uncertain” after disclosing that revenues for the first half were up by a healthy six per cent. The group, which is now headed by former Post Office chief Adam Crozier, [...]
What an astonishing night May 6, 2010 4.20AM: WHAT an election night. The early results have been all over the place. Clearly, the public has rejected the Labour government and the Tories have had more votes than anybody else; but everything else is much more murky. Swings have been hugely variable. Here are a few early thoughts about what has happened. 1) [...]
Choosing the most suitable card is not a zero-sum game May 6, 2010 WHEN Yorkshire Bank and Clydesdale Bank announced earlier this week their offer of 0 per cent interest on balance transfers for the first 16 months, it threw the cat among the pigeons. The two banks, both UK subsidiaries of National Australia Bank, leapt straight to the top of the best-buy comparison tables with the deal, [...]
French foray for Compass May 5, 2010 COMPASS Group, the world’s biggest caterer, bought French food service business Caterine Restauration for an undisclosed sum yesterday. The French caterer, which specialises in the provision of services in the education and healthcare sectors, posted revenues of €41.8m (£35.8m) for the 12 months to 31 August 2009 with gross assets valued at €34m (£29m). Compass [...]
Fixed income drives UBS to robust profits May 4, 2010 SWISS banking giant UBS yesterday went some way towards putting to rest stubborn fears over its financial health, smashing City expectations with its strongest set of profits in three years. UBS – which took a mighty hammering in recent years from the financial crisis, heavy withdrawals and a bitter US tax fraud investigation – posted [...]
Greedy Greece may have gulped all euro help May 3, 2010 CRISIS averted? For now, troubled Greece has been saved – but at what cost? The sums involved are staggering and could have been much lower if the Eurozone’s governments had appreciated the size and scale of the problem earlier and learned the lessons of history. By waiting for the 11th hour to agree a rescue [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 29, 2010 FINANCIAL TIMES STEEL INDUSTRY SET FOR A ‘NEW VOLATILITY’ Lakshmi Mittal warned yesterday that the impending large rise in the costs of iron ore would lead to “new volatility” in the steel industry by pushing up prices of the metal in a development that could harm the competitiveness of some of ArcelorMittal’s European plants. The [...]
Bank of America appoints Holliday as new chairman April 28, 2010 BANK of America Merrill Lynch (BoA) appointed Charles Holliday as its new chairman yesterday after the bank’s annual general meeting. Holliday, who has served as a director since September last year, will take over from Walter Massey, who retired from the board after reaching the bank’s mandatory retirement age of 72. Prior to joining BoA, [...]
Deka seeks Drapers Gardens April 28, 2010 DEKA, the German fund manager, is the frontrunner to buy the iconic Drapers Gardens office building in the City of London, according to advisers working on the deal. Drapers Gardens, which is owned by Canary Wharf and Exemplar Properties, was put on the market in March this year. The other bidders include European fund managers [...]
Imperial Tobacco sees first half profits roll in April 27, 2010 IMPERIAL Tobacco has seen first-half profits rise by 16 per cent despite recession-hit smokers ditching high-end brands in favour of roll-ups. Profit rose to £1.18bn in the six months to the end of March at the fourth biggest cigarette maker in the world, whose brands include Lambert & Butler. The rise came despite a 3.7 [...]