FTSE 100 opens flat as investors bide time September 10, 2012 The leading share index opened modestly lower this morning, as investors were cautious ahead of key Eurozone and US Federal Reserve meetings this week. A selection of miners and retailers led the index up. Specialist engineering company Lamprell added nearly five per cent in early deals on news that it signed a joint venture deal [...]
A nice rally while it lasted: Wall St analysts call the top of the market September 9, 2012 AT the start of the historically weakest month for equities there are plenty of reasons to believe stocks may be just about reaching a top – at least in the short term. The S&P 500 has surged 14 per cent this year and is at its highest level in more than four years. Not counting [...]
Obama isn’t working: He won’t win without a stronger message on jobs September 5, 2012 AS BARACK Obama pinned his electoral hopes on Bill Clinton’s rhetorical prowess at the Democratic convention last night, Mitt Romney is channelling Ronald Reagan by asking voters: “Are you better off now than you were four years ago?” It’s certainly throwback week on the campaign trail. But, with two landslide victories, Reagan may provide Romney [...]
Jenkins set to cut bad products September 2, 2012 BARCLAYS could look to cut unprofitable business lines in its investment banking and other arms under a structural review planned by new boss Antony Jenkins. The incoming chief executive has pledged to keep the investment bank intact and said he values the universal banking model. But his background in commercial and retail banking means some [...]
City Moves Who’s switching jobs September 2, 2012 Post Office The mail operator has announced that Sue Barton is to join the executive committee as strategy director. Barton’s experience includes extensive time within postal consultancy at Accenture, where she has worked with many of the leading international postal organisations providing support and advice. Laxfield Capital The debt origination and loan manager has announced [...]
APR profits up as CFO departs August 30, 2012 Temporary power specialist APR Energy yesterday posted a sharp jump in revenue for the first half of this year. Revenue was up by 162 per cent to $155m (£98m) over the six months to 30 June, while pre-tax losses narrowed to $1.9m from $32.3m over the previous year. The results come as chief financial officer [...]
FTSE 100 lower as Barclays steals headlines August 30, 2012 The leading share index opened modestly down this morning, but the real focus was on Barclays, as it appointed head of the retail bank Antony Jenkins as its new chief executive. Miner Ferrexpo led the fallers, losing 10.2 per cent in early trading, as the company went ex-dividend yesterday. Recruitment firm Hays fell 8.48 per [...]
Shawcross in line for charity post August 29, 2012 William Shawcross, the Queen’s official biographer, former journalist and humanitarian, has been named as the preferred candidate to succeed Dame Suzi Leather as boss of the Charity Commission, the Cabinet Office announced yesterday. His candidacy will be assessed on 5 September by the Public Administration Select Committee, who will consider his suitability for the three-year [...]
How to unpick the apparent paradox of falling GDP and rising employment August 21, 2012 THE City always eagerly awaits the latest GDP estimates. These figures dominate the media headlines and huge significance is attached to trivial differences between market expectations and the announced figure, and to subsequent revisions to the data. But GDP is not something that can be put in a set of scales and measured accurately. The [...]
Raymond will lead JPM probe August 20, 2012 FORMER Exxon Mobil boss Lee Raymond is investigating the so-called London Whale derivatives losses that hit JP Morgan earlier this year, the bank said yesterday. The institution hopes a thorough investigation headed by the well respected business leader will at last draw a line under the episode which saw the bank take huge losses on [...]