RBS and Lloyds results look set to show losses February 24, 2013 STATE-BACKED banks Royal Bank of Scotland and Lloyds Banking Group are both expected to announce full-year results this week, with analysts forecasting both lenders will remain loss-making. Investec believes RBS, which will deliver its 2012 figures on Thursday, will announce an attributable loss of £2.2bn for the final quarter – or a £5.6bn loss for [...]
New London head at Baker & McKenzie January 22, 2013 PARTNERS at City law firm Baker & McKenzie have chosen intellectual property partner Paul Rawlinson as the next head of the London office, replacing Gary Senior who will step down this summer after 10 years in the role. Rawlinson, a Bakers lifer who joined the firm as a trainee in 1986, is serving his second [...]
What the other papers say this morning January 29, 2013 FINANCIAL TIMES Brussels softens line on ringfencing The European commissioner in charge of regulatory reform of the region’s banks has signalled a retreat from plans to force lenders to build barriers around their securities trading operations, as policy makers focus on stimulating growth. Michel Barnier told the Financial Times that any implementation of last year’s [...]
British American Tobacco sees strong growth at start of 2012 April 26, 2012 BRITISH American Tobacco, the world’s second-largest cigarette maker, has reported a 0.7 per cent rise in underlying first-quarter volumes, driven by growth in its major brands in a challenging global trading environment. The London-based group, which makes Kent, Dunhill, Lucky Strike and Pall Mall cigarettes, said yesterday that overall group volumes rose 1.3 per cent [...]
FTSE rally eludes UK grocery giants January 2, 2013 SUPERMARKET chains Morrisons and Sainsbury’s failed to make the most of UK investors’ New Year optimism yesterday after analysts raised fears that their performance had been less than stellar over the crucial Christmas trading period. Morrisons was one of just three fallers in the FTSE – closing down two per cent – after house broker [...]
FTSE 100 rallies on US fiscal cliff deal January 2, 2013 Investors welcomed in the first trading day of the new year with a sharply higher blue chip index this morning, as the FTSE 100 rose around 90 points in early trading as US policymakers approved a deal to prevent the so-called fiscal cliff. Miners led the rally, with Eurasian Natural Resources, Rio Tinto, Anglo American [...]
FTSE 100 slips as miners lead index down January 4, 2013 The blue chip index was broadly flat in early deals, as it failed to replicate its landmark day of trading on Wednesday. The FTSE 100 edged down by around 0.15 per cent this morning. Miners led the way down as worries that the US Fed might halt its monetary easing programme and concerns over US [...]
Taxman to pay out billions to multinationals November 14, 2012 PROMINENT UK-based multinational firms are on the cusp of receiving enormous payouts from the Treasury after a European court yesterday ruled in their favour on a landmark tax case. Lawyers now say the total bill owed by the government could reach billions of pounds, depending on how many applications follow the decision. In a test [...]
How to gain emerging market exposure February 12, 2013 IT IS a well-known story. Emerging markets are playing a more significant role in global economic growth. Recent research from PwC has highlighted that emerging market GDP will exceed that of developed markets, in terms of purchasing power parity (which adjusts for differences in exchange rates), for the first time in 2013. Since 2002, the [...]
Falling tobacco sales burn out BAT price hikes October 24, 2012 PRICE rises from British American Tobacco (BAT) have failed to stem the effects of falling cigarette sales this year, as the FTSE 100 firm saw turnover fall in the last nine months. The company, which makes the Lucky Strike, Dunhill, Kent and Pall Mall brands, said tax hikes in Brazil and currency fluctuations were to [...]