Markets engulfed by turmoil July 2, 2008 The FTSE 100 is now facing a critical point as it teeters dangerously close to plummeting below its March 17th low, a leading strategist warned yesterday. “It is now at a critical point. If it retests these lows then it could go a good deal lower to the 5000 level. This would mark a 50 [...]
Lose customers’ details and you lose something else too – their trust August 27, 2008 As technology infiltrates all parts of business, it pays to be aware of the weak spots, writes David Crow Barely a week goes by without yet another loss of personal data by someone who should be trusted. Yesterday, it was the bank details of over a million Royal Bank of Scotland, NatWest and American Express [...]
FTSE 100 flirts with bear market July 9, 2008 London’s leading blue chip share index lurched into official bear market territory yesterday before recovering to end the day lower, but temporarily out of the danger zone. The FTSE 100 index fell below 5,385 points in early trading, 20 per cent below its June 2007 peak of 6,732, putting it in official bear territory, defined [...]
Banking stocks are rock bottom, which could mean it’s time to buy July 18, 2008 Financials are at bargain basement prices and it could be time to get involved, reports Esther Shaw Northern Rock has been one of the most spectacular victims of the credit crisis, but much of the banking sector has experienced some stormy weather over the last year. Even large institutions like Barclays and Royal Bank of [...]
No more US deals for RBS November 3, 2005 Sir Fred Goodwin has reiterated Royal Bank of Scotland’s stance on acquisitions in America, saying there are no plans for further deals following last year’s purchase of Charter One Financial. In an interview with news agency Bloomberg in New York, the Edinburgh bank’s chief executive said: “Organic growth is our number one priority (in America).” [...]
Mortgage approvals at a year high November 1, 2005 Bank of England data released yesterday sent out mixed messages, with mortgage approvals at their highest level in more than a year, but unsecured lending slowing down. Bank figures showed that house purchase approvals rose to 107,000 in September, up marginally from 106,000 in August. This puts mortgage approvals at their highest level since June [...]
MFI under pressure as shares dip October 20, 2005 Confidence in MFI’s stricken furniture chain was undermined further yesterday after a damning analyst report sent the shares into a nosedive. Richard Ratner, of Seymour Pierce, quoted “reliable sources” stating that the British showroom business had sought an extension of credit terms from trade suppliers. He also suggested that the division could be “put into [...]
Telefonica agrees £18bn deal for O2 November 1, 2005 Long term takeover target O2 has agreed to a £17.7bn offer from Spanish telecoms giant Telefonica in a deal that will see yet another British phone firm fall to foreign ownership. Since leaving BT four years ago O2’s relatively small size in Europe has seen it touted as the perfect target for acquisitive rivals. O2 [...]
No end to Wolseley’s buying spree October 25, 2005 Building materials wholesaler Wolseley has continued its buying spree and added insulation distributor Encon and North American plumbing company Camellia Valley Supply to its global portfolio. Wolseley, the world’s biggest plumbing and heating distributor, raised $1.2bn (£677m) last week through a private placement to more than 30 institutional investors, which was marketed by the Royal [...]
Southern in £2.5m probe October 26, 2005 Soutern Water may have to pay up to £2.5m in compensation to customers after irregularities were discovered in its queries and complaints procedures. In an unprecedented move the company, which supplies water and sewerage services to 2.3m homes and businesses, has informed industry regulator Ofwat that it may have misled the watchdog over the level [...]