Pressures are building for a stronger renminbi August 11, 2010 AT THE start of this year, China was considered the only hope for global growth. But, for investors who wanted to get a slice of the pie and piled into the stock market, it has been a frustrating time. The Shanghai Composite Index is one of the worst-performing global stocks markets, having lost nearly a [...]
BEST OF THE BROKERS February 4, 2010 PARTYGAMING Barclays Capital ups PartyGaming to “overweight” citing its improved operational performance. Sets a target price of 330p, suggesting 15 per cent upside to the current share price. Says if recent speculation of a merger between PartyGaming and Bwin proves true the shares would gain 45-55 per cent from their current value. ROLLS ROYCE GROUP [...]
BNY Mellon earnings triple despite fee falls July 20, 2010 BANK of New York Mellon saw its earnings more than triple in the second quarter, compared to a period last year when the bank was laid low by writedowns on mortgage-backed securities. The US custodial bank reported second-quarter profit attributable to shareholders of $658m (£430.2m), up from $176m a year earlier. That was equivalent to [...]
ICAP predicts “reasonable” year ahead July 14, 2010 ICAP, the world’s biggest interdealer broker, said forecasts for full-year profit still appeared reasonable despite volumes slowing significantly in June due to a cut in the appetite for risk. The company said group revenue in its first quarter grew by eight per cent compared with revenue from continuing operations last year, while group profit grew [...]
Luxury shops in boost from Indian spend July 12, 2010 THE number of luxury goods purchased by Indian shoppers visiting the UK in June surged by 89 per cent compared with the same month last year, according to a retail survey. The figures, compiled through a poll of 15,000 businesses, reveals the extent to which high street spending is fuelled by foreign spending power. According [...]
Luxury shops in boost from Indian spend July 12, 2010 THE number of luxury goods purchased by Indian shoppers visiting the UK in June surged by 89 per cent compared with the same month last year, according to a retail survey. The figures, compiled through a poll of 15,000 businesses, reveals the extent to which high street spending is fuelled by foreign spending power. According [...]
The car insurance boss who wants to motor into new foreign markets August 22, 2010 It is a case of ‘Recession? What recession?’ for motor insurance firm Admiral, which is in the middle of taking on 750 staff in the UK alone this year. And that means an awful lot of meetings for the Cardiff-based firm’s 53-year-old chief executive Henry Engelhardt. The Chicago-born boss meets every one of his new [...]
HISTORIC FINANCIAL REFORM BILL PASSED July 15, 2010 US LAWMAKERS last night passed a landmark financial reform bill allowing the broadest overhaul of rules governing America’s largest financial institutions since the 1930s. The Senate approved the bill by a 60 to 39 vote last night and will now send it to President Barack Obama to sign into law next week. The bill, which [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 1, 2010 FINANCIAL TIMES MEAT PRICE SURGE FUELS FEARS OF FOOD INFLATION Global meat prices have hit a 20-year high as robust demand from emerging countries has coincided with a drop in production by exporters such as the US and Australia, fuelling concerns about rising food inflation. The UN Food and Agriculture Organisation’s index of meat prices [...]
Icap fortunes hit by a drop in volatility July 14, 2010 ICAP, the world’s largest inter-dealer broker, saw its shares hammered by investors yesterday as fears crystallised over the impact of lower levels of volatility on the group’s business. Icap said revenue over the first quarter of the financial year rose eight per cent compared to the first three months last year, while profit grew by [...]