What the other papers say this morning December 20, 2012 FINANCIAL TIMES Trafigura earns $1bn twice in a row Trafigura, the commodities trader, earned about $1bn for the second year running in 2012, indicating that the profitability of the world’s top houses that dominate raw materials has remained high in spite of slower economic growth in China. The privately held company, based in Geneva and [...]
What the other papers say this morning November 29, 2012 FINANCIAL TIMES Morgan Stanley to boost returns Morgan Stanley’s chief executive wants to use the bank’s excess capital to boost returns for the company’s “long suffering” shareholders. In the strongest signal yet that Morgan Stanley is preparing to hand back more than token sums to shareholders since the financial crisis, James Gorman told a securities [...]
Profit-taking cannot halt FTSE as it hits highest close since May 2008 January 10, 2013 BRITAIN’S top share index closed above the 6,100 resistance level for the first time since 22 May 2008, yesterday, recovering from a late wobble after a choppy trading session. The FTSE 100 index was up 2.86 points, or 0.1 per cent, at 6,101,51, having seen some late profit-taking erased in the closing auction, but the [...]
FTSE pauses for breath beneath the 6,300 mark February 11, 2013 BRITAIN’S FTSE 100 was lifted yesterday by strength in energy stocks and food retailers, but the index was still struggling to break through the four-and-a-half year highs hit at the start of February. London’s blue chip index gained 13.13 points, or 0.2 per cent at 6,277.06, holding within the 70-point range of the last five [...]
Trevor to take the Strain as Morrisons FD December 13, 2012 MORRISONS, the UK’s fourth biggest supermarket, has chosen Trevor Strain to replace Richard Pennycook as its new group finance director, it said yesterday. Strain will be officially appointed to the main board in June 2013, but will take on Pennycook’s responsibilities next spring after a handover. Strain joined Morrisons in 2009 as commercial and operations [...]
ANALYST VIEWS | DO TESCO’S RESULTS SUGGEST A FINANCIAL TURNING POINT? June 11, 2012 CLIVE BLACK SHORE CAPITAL We see this as a steady statement suggesting stabilisation is coming through in the UK, which we find encouraging after sustained underperformance. For the “uber bears” there is no warning, which is an important foundation to the rebuilding of Tesco’s investment credentials. FREDDIE GEORGE SEYMOUR PIERCE We continue to believe that [...]
A feathered and furry flock at St. Paul’s cathedral yesterday January 16, 2013 TRACTORS, combine harvesters, chicken, sheep and other furry animals took up residence outside St. Paul’s yesterday. City workers flocked to the cathedral at lunchtime, sandwiches in hand, to get a closer look at the animals, who seemed to be munching their way through a fair few Pret scraps themselves. Plough Wednesday takes place to remind [...]
Reflections on Tulchan’s demise at Marks & Spencer February 14, 2013 FOUR weeks ago I asked Andrew Grant of Tulchan a simple question. Had his firm been fired from the retailer Marks & Spencer as its external financial public relations adviser, following the leaking of its annual results which forced their rushed and premature publication? Grant, rightly known for being courteous, well-informed and straightforward, responded that [...]
Tesco’s Philip Clarke waives annual bonus May 22, 2012 PHILIP CLARKE, Tesco’s chief executive, said he would forgo his £372,000 annual bonus after the retailer’s weak UK performance last year prompted its first profit warning in 20 years. “I decided at the beginning of the year that I would decline my annual bonus for 2012,” Clarke said in a statement yesterday. “I wasn’t satisfied [...]
Tesco’s Philip Clarke waives annual bonus May 22, 2012 PHILIP CLARKE, Tesco’s chief executive, said he would forgo his £372,000 annual bonus after the retailer’s weak UK performance last year prompted its first profit warning in 20 years. “I decided at the beginning of the year that I would decline my annual bonus for 2012,” Clarke said in a statement yesterday. “I wasn’t satisfied [...]