Mandelson extends scrappage scheme September 28, 2009 CAR industry bodies have welcomed the government’s decision to extend the cash-for-bangers scheme, saying it will help the ailing automotive sector achieve a lasting recovery. Business secretary Lord Mandelson announced at the Labour party conference yesterday a £100m extension to the scheme, which equates to 100,000 vehicles. He also widened the cut-off period to trade [...]
BEST OF THE BROKERS September 24, 2009 HALFORDS GROUPAhead of Halfords’ second-quarter trading update on 8 October, Investec upgraded its forecasts and its target price to 435p, from 400p. The broker believes a combination of better weather and more “staycations” than last year will deliver a more robust performance than previously expected, and says “buy”. WM MORRISONJefferies International upped its target price [...]
BEST OF THE BROKERS September 24, 2009 HALFORDS GROUPAhead of Halfords’ second-quarter trading update on 8 October, Investec upgraded its forecasts and its target price to 435p, from 400p. The broker believes a combination of better weather and more “staycations” than last year will deliver a more robust performance than previously expected, and says “buy”. WM MORRISONJefferies International upped its target price [...]
Banks and retailers rally to steer the FTSE 100 ahead May 27, 2009 GAINS in banks and retailers outweighed weakness in energy stocks and drugmakers yesterday to leave the FTSE 100 up by 0.1 per cent, or 4.51 points, at 4,416.23. Trade was thin with just 67 per cent of the average of the last 90 days of trading transacted with the absence of concrete data on the [...]
Banks to lend more but output suffers October 1, 2009 UK LENDERS are to make mortgage loans more easily available, according to Bank of England research. The Bank’s Credit Conditions Survey said availability of mortgages had decreased in the third quarter due to a deterioration in wholesale funding markets. But it said lenders expect more home loans to be offered in the final quarter as [...]
QUEEN SENT FROM RUSSIA WITH LOVE November 17, 2009 FIRST there was Bobby George; the Bobby Dazzler, the King of the Bling, the first true bastion of darting glitz and glamour. Then, there was Andy Fordham. Thirty-one stone at his peak, hair down to his backside and regular consumer of 25 bottles of Holsten Pils before going on stage. Equally adored by his public. [...]
BANKING WOE PUTS EURO ON THE BACK FOOT June 17, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COM AFTER months of heavy handed fiscal and monetary stimulus, the fact that central bankers and finance ministers are turning their attention to exit policies offers some reassurance that conditions must be returning to normal. This is not, however, a time for complacency. Over the past couple of months, investors’ fears have [...]
Lowe’s results improve Wall Street’s retail mood May 18, 2009 US STOCKS rallied yesterday as better-than-expected results from the number two US home improvement retailer, Lowe’s, helped spark broad-based buying on hopes the recession is easing and consumer spending is stabilising. Investors’ optimism extended to sectors closely aligned with economic growth, including homebuilders, banks, energy companies and retailers. Positive broker comments on Bank of America, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 7, 2009 FINANCIAL TIMESMICROSOFT NEARER TO EU DEALMicrosoft yesterday scored an important breakthrough in its long-running battle with European regulators, paving the way for an end to a highly charged dispute that has hung over the US?software company for much of this decade in one of its most important markets. The EU’s antitrust watchdog said that it [...]
Jaguar gets 500m new bank funding October 7, 2009 BELEAGUERED carmaker Jaguar Land Rover (JLR) yesterday revealed it has secured £500m of new funding, easing the pressure on the company after a dramatic slump in car sales during the recession. JLR, which is owned by India’s Tata Motors, said the monies included a £175m loan from the State Bank of India and a new [...]