Biotech stocks are in bloom June 14, 2011 THE Nasdaq stock exchange has long been associated with technology companies, attracting high-profile listings such as Apple and Microsoft at the start of their journeys to global domination. Accordingly, the stocks on the exchange are considered to be more volatile and growth-oriented. While technology stocks continue to dominate the top of the Nasdaq 100 index [...]
Growth in UK construction offers relief June 2, 2011 POSITIVE growth figures from the construction industry provided some relief for the UK’s struggling economic recovery, yesterday. The building industry edged up to a score of 54 in the purchasing managers’ index (PMI) for May, a modest rebound from April’s disappointing score of 53.3. All PMI scores above the no-change 50 mark indicate economic growth. [...]
Mayor backs £600m bond for Crossrail July 3, 2011 THE Mayor of London Boris Johnson has launched a £600m bond to finance the construction of Crossrail. Issuing the bond will help the Greater London Authority (GLA) fund its £4.1bn investment in the £14.8bn project to build the new rail link, which will connect east and west parts of the capital. London will be the [...]
It must be time for another holiday August 2, 2011 If the UK’s economy was really as severely dented by the numerous bank holidays in April as some say, let us hope the nation as a whole doesn’t follow David Cameron in his holidaying habits. Never mind the UK’s faltering growth, the US debt deal or the worsening of the Eurozone crisis. The Prime Minister, [...]
It must be time for another holiday August 2, 2011 If the UK’s economy was really as severely dented by the numerous bank holidays in April as some say, let us hope the nation as a whole doesn’t follow David Cameron in his holidaying habits. Never mind the UK’s faltering growth, the US debt deal or the worsening of the Eurozone crisis. The Prime Minister, [...]
Osborne: the Rock will be re-privatised June 15, 2011 Mansion House CHANCELLOR George Osborne last night announced that Northern Rock – the first casualty of the financial crisis – will be re-privatised. Treasury sources said they hoped the auction, which is expected to raise around £1bn for the exchequer, would be completed before the end of the year. The chancellor, who made the announcement in [...]
THE STRUGGLE FACING SOUTHERN CROSS May 19, 2011 Q. WHY IS SOUTHERN CROSS IN SO MUCH TROUBLE? A. Cuts to local authority budgets are hitting private sector firms that deliver public sector services hard. Southern Cross is faced with a real terms cut in fees from councils across the country, while authorities are also reluctant to place as many pensioners into full-time care. [...]
Symbolic sacrifice of FD won’t save the day June 15, 2011 WHEN Costain offered 164.3p-a-share for Mouchel, someone should have bitten its hand off. Yesterday, its shares closed at 59.75p, less than half of the amount that was on the table. Management said the bid was too low – but it wasn’t as low as a preceding offer from Interserve, which reduced its own bid from [...]
Weak banks help drive FTSE to three-month closing low June 15, 2011 BRITAIN’S top shares ended lower yesterday, weighed down by banks on worries over the UK government’s drive for tougher regulation and Europe’s debt crisis, while commodity stocks also pressured the index. The FTSE 100 closed down 60.58 points, or 1.0 per cent, at 5,742.55, its lowest finish since March 18. Banks fell ahead of chancellor [...]
FTSE solid as investors eye US jobs data July 8, 2011 The FTSE 100 started out on the front foot today as investors awaited key US jobs data to assess the strength of the country’s economic recovery. Positive performances on Asian markets and on Wall Street buoyed sentiment in London with the non farms payroll figures to set the tone for trading later. Greece will also [...]