Cost cutting aids profits for Thomson Reuters August 6, 2009 NEWS and financial data publisher Thomson Reuters reported a better-than-expected second quarter profit yesterday, helped by cost cuts. The firm stood by its forecast that revenue would grow in 2009 and that its profit margin would be similar to last year’s as markets stabilise. However, chief executive Tom Glocer said that the fallout from the [...]
The Tipster January 19, 2010 STERLING has been having a storming week and traders are beginning to reconsider their uber-bearish view of the pound. Yesterday’s record inflation data – the annual consumer prices index leapt to 2.9 per cent – is likely to be followed by a period of high inflation. This is forecast to put pressure on the Monetary [...]
Why we need to balance the books March 3, 2010 IT is often forgotten that Britain has defaulted on its national debt in the past. The Great Conversion of 1932, after another economic and financial crisis, was a humiliating moment for what was then the British Empire. After much negotiating, the UK’s costly five per cent first world war bonds were turned into new, cheaper [...]
Go against the grain and take a punt on the buck January 12, 2010 INVESTORS have found plenty of reasons to sell the dollar in recent months, including a terrible fiscal outlook in the US and a central bank that remains wedded to stimulus measures and low interest rates. Added to that list this week was a weak start to the US earnings season after aluminium producer Alcoa reported [...]
FX INVESTORS ANTICIPATE BAD NEWS January 26, 2010 MARTIN ARNOLD SENIOR ANALYST, ETF SECURITIES SENTIMENT in the foreign exchange markets has changed dramatically in recent days as investors increasingly question whether the strong price performance of risk assets in 2009 can be sustained in 2010. Indeed, of the major currencies, only the Japanese yen has appreciated in recent days as investors have unwound [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 24, 2010 FINANCIAL TIMES EMI BANK DEBT BATTLE LEAVES ARTISTS WARY Uncertainty over EMI’s financial future is deterring some leading music industry managers and lawyers from signing artists to its record label as its parent company battles with its bankers over the debt burden of its 2007 buy-out. Terra Firma, the private equity firm run by Guy [...]
IMF to begin discussions on its delayed review of China’s economy next week July 2, 2009 THE International Monetary Fund’s (IMF) board will discuss a long-delayed assessment of China’s economy on 8 July after it revised rules on how it assesses the foreign-exchange policies of member countries. Fund spokeswoman Caroline Atkinson said an IMF staff mission had concluded the China economic review on 10 June and it would now go to [...]
Revaluation of the yuan bad news for the Aussie dollar January 12, 2010 PRESSURE has been building on China to let its currency, the yuan, appreciate against the US dollar, to which it is pegged. This week, these calls only intensified after China posted strong trade data, putting the country firmly on course to usurp Germany’s position as the world’s number one exporter. But while Beijing so far [...]
This year, look out for the rise of the rupee February 2, 2010 WHO would want to be an emerging market central banker at the moment? Having stormed ahead of their Western rivals during the financial crisis, economies in Asia and Latin America are now facing the prospect of rising prices. The authorities face an unenviable task – they need to strangle inflation without derailing growth. In these [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 17, 2010 FINANCIAL SERVICES CITY’S ROLE AS FINANCIAL CENTRE SET FOR NEW BOOST, SAYS TOP HEDGE FUND London will thrive as a financial centre over the next decade by becoming the natural western hub for emerging market growth, according to one of the City’s best-known hedge funds. In stark contrast to bankers’ doom-laden predictions about the City’s [...]