FTSE 100 smashes through 6,200 barrier January 24, 2013 The blue chip index edged up in early trades, and smashed through the 6,200 barrier although disappointing results from US technology behemoth Apple weighed on sentiment. The company posted record profits last night, but warned of lower revenue growth in the coming months, which sent its shares down more than 10 per cent in after-hours [...]
Business backs Cameron’s call on Europe vote January 23, 2013 BUSINESS leaders yesterday broadly welcomed David Cameron’s plans to renegotiate a new deal with the European Union. In a letter to The Times, 48 industry and City leaders said the Prime Minister’s promises of a negotiation followed by an “in-out” referendum within five years was “good for business and good for jobs in Britain”. The [...]
What the other papers say this morning January 22, 2013 FINANCIAL TIMES New hedge fund cuts fees One of the UK’s fastest-growing hedge funds is slashing fees, hoping it will spark a rethink of the industry’s high charges. The Core Macro fund from Cambridge-based Cantab Capital will employ similar trading strategies as funds from Man Group, Winton Capital and BlueCrest, three of the world’s biggest [...]
US budget battle looms as leading concern at Davos January 21, 2013 IT’S that time of year again. High streets are full of bargain-hungry shoppers, Christmas decorations are back in their boxes, New Year’s resolutions are still holding, and a ski resort in Switzerland is preparing itself for an influx of global economic power-brokers. The World Economic Forum is about to descend on Davos. The Eurozone’s enduring [...]
Business split over Britain’s future in the EU January 20, 2013 THE LEADER of the British Chambers of Commerce yesterday warned City A.M. that multinational companies may not have Britain’s national interest at heart when discussing the UK’s future relationship with the EU. “For business leaders involved in multinationals the British interest may be secondary, as Britain is a gateway for accessing the common market,” John [...]
World leaders flock to Davos yearly meeting January 20, 2013 THE WORLD’S most prominent policymakers, economists and businessmen will on Wednesday descend on Davos to hammer out a consensus on building sustainable growth. The small Swiss village will host close to 50 heads of state or government and more than 1,500 business leaders, as well as top academics and representatives from charities and Non-Governmental Organisations [...]
Best of the Brokers January 15, 2013 ARM Holdings Investec has downgraded the FTSE 100 microchip designer from a “Buy” to a “Hold”, saying that the company’s “exceptional long term business outlook” is reflected in its share price, which has almost doubled since July last year. Analyst Julian Yates highlighted the potential risk of a move from US chipmaker Intel into ARM [...]
Crackdown on avoidance may hurt the UK’s competitiveness January 13, 2013 CUTS to the headline rate of corporation tax are a welcome step towards making the UK competitive again, accountants UHY Hacker Young said today, but warned the crackdown on tax avoidance may undo the good work of the rate cuts. The headline rate is being cut each year and will fall to 21 per cent [...]
What the other papers say this morning January 9, 2013 FINANCIAL TIMES Hovis forced to turn to EU grain Hovis, one of the UK’s top-selling breads, is to abandon its pledge to use only British wheat following rain-blighted harvests. Hovis will start using EU grain from this weekend. The move is a blow for UK farmers, who are already reeling from relentless rain in 2012 [...]
Ronaldo transfers to UK to pick Sorrell‘s brain January 7, 2013 BRAZILIAN football legend Ronaldo is heading to the UK to work for Sir Martin Sorrell’s advertising giant WPP. The 37-year-old, who owns sports marketing company 9ine with WPP, will work on deals ahead of Brazil’s 2014 World Cup. Ronaldo told a Brazilian newspaper: “Learning from Martin Sorrell will be perfect. I won’t leave him alone.”