THE TIPSTER NEW SHARES PLACING LIFTS SAINSBURY’S July 19, 2009 PHARMACEUTICAL company GlaxoSmithKline will report its second quarter results on Wednesday and so far this year the stock has only risen 11 per cent since its March low of around £10, whereas the FTSE 100 has rallied some 24 per cent. Wednesday’s figures might give the drug maker the boost it so badly needs. Capital [...]
Autonomy slips on missed forecasts but banks lift FTSE July 16, 2009 UPBEAT results from JP Morgan boosted banks while energy and pharmaceutical stocks also gained, leading Britain’s top share index to close at a one-month high, up for a fourth session yesterday. The index was trading in slightly negative territory in early trade but the JP Morgan results which were announced around mid-session lifted the FTSE [...]
JPMorgan adds to cheery mood in US July 16, 2009 US stocks rallied for a fourth day yesterday after JPMorgan’s strong results fed growing optimism about the quarterly earnings season and technology shares rose in anticipation of more good news. Gains in International Business Machines helped the market shake off its earlier malaise. The broad S&P 500 extended the week’s gains to tally its best [...]
Goldman Sachs and Intel trigger bumper day on FTSE July 15, 2009 STRONG corporate earnings numbers and improving economic data from the US lifted the blue chip share index by 2.6 per cent to its highest close in four weeks yesterday. Led by energy firms and banks, the FTSE 100 index ended up 108.78 points at 4,346.46, its third day of gains. The UK benchmark is up [...]
Wall Street books impressive gains July 15, 2009 US stocks jumped yesterday with the S&P 500 racking up its three best days since March, sparked by results from bellwether Intel that lifted hopes for a rebound in technology spending and improved corporate profitability. The broad S&P 500 has gained 6.1 per cent so far this week as companies, including Intel and Goldman Sachs, [...]
The downturn has destroyed the myth of diversification July 15, 2009 MOORAD CHOUDHRYHEAD OF TREASURY, EUROPE ARAB BANK IN THE 1950s the economists Harry Markowitz, Franco Modigliani, Merton Miller and William Sharpe formulated their ideas on portfolio theory and corporate finance, which became the foundation of modern finance and fund management. These chaps were serious heavyweight thinkers, and rewarded with Nobel prizes. In the 21st century [...]
If you don’t do the right MBA, then you might as well be burning money July 15, 2009 LIKE so many other sectors in the wake of the credit crunch and recession, higher education has been having a “stop and think” moment. Once seen as the suppliers of the business talent – and particularly the banking talent – that fuelled the economic boom years, business schools are having to re-affirm the value of [...]
HARVARD BUSINESS SCHOOL STUDENTS THE MBA OATH July 15, 2009 As a manager, my purpose is to serve the greater good by bringing people and resources together to create value that no single individual can create alone. Therefore I will seek a course that enhances the value my enterprise can create for society over the long term. I recognise my decisions can have far-reaching consequences [...]
Times are tough, but lawyers aren’t giving up their wine cellars quite yet July 14, 2009 JUST after the collapse of Lehman Brothers last year, at a lavish Clifford Chance party held at Goldsmith’s Hall, a French lawyer told me glumly: “London used to be such a good place to make money.” The champagne and canapes might have been flowing at the time, but the words did capture the feeling that [...]
WALKER WILL PUT ONUS ON REGULATORS July 14, 2009 PETER SNOWDONPARTNER, NORTON ROSE LLP WE can expect the Walker Review, due tomorrow, to highlight shortcomings in banks’ corporate governance that allowed excessive risk-taking to go unchecked, leading to the financial crisis. The report is likely to recommend strengthening banks” risk assessment arrangements and possibly suggest separate risk committees, reflecting the sector’s perceived failure to [...]
