BEST OF THE BROKERS March 3, 2011 ITV UBS rates the media company “buy” with a 12-month target price of 115p. The broker says that the firm’s strong results on Wednesday benefited from cost-cutting and a strong advertising environment, and forecasts five per cent growth in the second half of 2011. UBS adds that while the firm is focused on organic investment, [...]
Profits rise as bad loans fall at StanChart March 2, 2011 A DROP in loan impairments across the board saw Standard Chartered push its pre-tax profits up 19 per cent to $6.12bn (£3.75bn), the bank’s full-year results showed yesterday. Bad loans were down 68 per cent in wholesale banking, which accounts for most of the bank’s revenues, and 45 per cent in its consumer business. Standard [...]
FTSE slips lower but profits from StanChart help cheer March 2, 2011 RALLYING banks boosted by results from Standard Chartered helped Britain’s top share index pare losses yesterday, but the index still closed lower as geopolitical concerns continued to dog sentiment. The FTSE 100 closed down 20.87 points, or 0.4 per cent, at 5,914.89, as lingering political concerns in the Arab world continued to dent confidence and [...]
FTSE finishes in the red despite late rally March 2, 2011 The FTSE slumped below the 5,900 mark this morning on continued Middle East unrest fears, but recovered ground after a boost to Wall St. The FTSE 100 still closed the day below 6,000, though, 0.35 per cent down at 5,914.89. It has lost ground in eight of the last nine sessions. Michael Hewson said the [...]
Standard Chartered profit up March 2, 2011 Asia-focussed Standard Chartered Bank earnings met expectations, reporting a 52 per cent rise in second-half net profit amid strong growth in emerging markets. The bank reported a net profit of $2.13bn (£1.31bn) for July-December, up from $1.4bn a year earlier. Standard Chartered is based in London but generates more than 80 per cent of its [...]
Standard Chartered profit up March 2, 2011 Asia-focussed Standard Chartered Bank earnings met expectations, reporting a 52 per cent rise in second-half net profit amid strong growth in emerging markets. The bank reported a net profit of $2.13bn (£1.31bn) for July-December, up from $1.4bn a year earlier. Standard Chartered is based in London but generates more than 80 per cent of its [...]
Tesco in deal for three malls in China February 28, 2011 Tesco, the world’s third-biggest retailer, has signed a joint venture to build three more shopping malls in China as part of its plans to rapidly expand in the world’s most populous country. The supermarket group said on Monday that 50 percent of the venture would be owned by a consortium of Asian investors including Singapore’s [...]
Standard Chartered due to post gains though cost pressures loom February 27, 2011 STANDARD Chartered is expected to post an annual pre-tax profit of more than $6bn (£3.7bn) on Wednesday, a 15 per cent increase on 2009, though ballooning costs are also forecast. Analysts expect revenues to rise by more than four per cent to £9.8bn, though the bank warned in December that cost growth is set to [...]
Kate Bleasdale leaves Healthcare Locums board after chair quits February 23, 2011 KATE BLEASDALE has quit her post as director of Healthcare Locums, the staffing firm she founded. She had been suspended as executive vice-chairman after “serious accounting irregularities” were discovered at the company last month. Her attempt to oust the board has also been dropped after the chairman who suspended her stood down late last week. [...]
Arab states must copy Asian tigers February 21, 2011 VILE, despicable, inhumane: such words only barely begin to describe Muammar Gaddafi’s savagery as he desperately clings to power, battling a rising tide of popular revulsion. Like all fascists, human life is worthless to him. It is, of course, too soon to tell what will happen in Libya and what sort of regime, liberal or [...]