Britain needs more world-class firms March 2, 2010 IF you want to understand why so many people have now become so downbeat about the prospects for the UK, look no further than yesterday’s survey of the Hundred Group of FTSE 100 finance directors. Their total tax rate – combining all taxes borne or collected by FTSE 100 businesses on the government’s behalf – [...]
The law firm boss who says his US merger is set to take on the world February 28, 2010 For a man weeks away from the biggest deal of his life, Lovells’ managing partner David Harris has a remarkably light air about him. On 1 May the City institution – it can trace its history back to 1899 – will merge with US rival Hogan Hartson to create one of the world’s largest law [...]
Business models now matter more than sales February 22, 2010 When I was in my late twenties, I had a baptism of fire while trying to establish the Power PC chip as a new industry standard. In early 1992, IBM, Apple and Motorola announced that they would be developing a new microprocessor – to be called the PowerPC – to power the Apple Macintosh and [...]
Investors puzzled by shock exit of SAP boss February 8, 2010 GERMAN software group SAP has ditched its chief executive of just seven months, surprising a market he failed to win over during his tenure and leaving investors wondering where the world’s top business software firm heads next. SAP announced Leo Apotheker’s abrupt departure, replacing him with immediate effect with a new management team expected to [...]
Exxon and factories light up Wall Street February 1, 2010 US stocks rose yesterday as better-than-expected data on the manufacturing sector and earnings from ExxonMobil revived bullish sentiment after stocks closed out their worst month in almost a year. Exxon’s stock gained 2.7 per cent to end at $66.18 after the largest US oil company reported natural gas products boosted results at its exploration arm. [...]
Dow suffers worst 2010 trading drop January 20, 2010 THE Dow suffered its worst drop of 2010 yesterday day as US stocks succumbed to fears that China’s curbs on bank lending might jeopardize the global economic recovery, while IBM’s outlook sparked caution about the technology sector. Chinese authorities have ordered some major banks to curb their lending over the rest of this month after [...]
IBM profits rise due to cost-cutting January 19, 2010 COMPUTER giant IBM yesterday raised its profit target for 2010 after posting solid results for its 2009 fourth quarter. Cost-cutting helped the company increase its earnings by nine per cent in the final three months and it made a net profit of $4.8bn (£2.9bn) between October and December, up from $4.4bn a year earlier. Revenues [...]
Strong IBM result boosts tech shares January 19, 2010 US stocks rose broadly yesterday, lifting the Dow and the S&P 500 to fresh 15-month closing highs as investors bet a potential Republican victory in Massachusetts’ Senate race could stall Obama’s reform agenda. Wall Street also got a boost from technology shares, which rallied in anticipation of strong earnings from bellwether International Business Machines, which [...]
Smart idea to take a punt on the tech sector January 17, 2010 Jaws dropped on Wall Street late Thursday after Intel, the computer chip maker, reported an 875 per cent increase in profits between October and December last year. Profits were $2.3bn, up from $234m in the same quarter in 2008, smashing analyst expectations. But while a nine-fold increase in profits is unlikely to be replicated this [...]
Bank earnings to give initial lift ahead of UK inflation data and MPC minutes January 17, 2010 Stocks are expected to start the week higher this morning, supported by the prospect of an improvement in the US corporate earnings picture after last week’s disappointing numbers from JP Morgan. GFT is forecasting the FTSE 100 to open at 5,475, up 20 points from Friday’s close. For the technical analysts out there, 5,495 is [...]