Fed keeps rates on hold but hints it will act soon August 1, 2012 THE FEDERAL Reserve last night decided to hold fire on fresh action to stimulate growth, despite admitting the economy was slowing. In a noticeably more pessimistic portrait of the US economy than last month, the central bank said that economic activity “decelerated” in July and reiterated its former stance that it would hold interest rates [...]
Markets dip on Wall Street as tech stock falls September 10, 2012 WALL Street stocks fell yesterday as investors locked in gains on a recent rally ahead of possible policy action from the Federal Reserve later this week, while weakness in Intel shares weighed on the Nasdaq. The benchmark S&P 500 index closed at highs last week not seen in nearly five years, motivating some investors to [...]
James Bond studio backs £96m Peel bid April 27, 2011 PINEWOOD Shepperton, the iconic British studios that has played host to screen legends including James Bond and Harry Potter, looks set to be sold to Peel Holdings for £96m. Peel fought off an eleventh hour rival approach from controversial Fulham FC owner Mohamed al Fayed. The former Harrods owner is thought to be mulling an [...]
Boutique hotel firm launches a retail bond April 29, 2012 MR & MRS SMITH, the travel publisher and boutique hotel specialist, has taken a different tack to funding its expansion today by launching its first retail bond, which pays interest to investors in the form of holidays. Husband and wife team James and Tamara Lohan, who founded the business in 2003, are aiming to raise [...]
FRENCH LUXURY OUTFIT BUYS 007 SUITMAKER November 8, 2011 LUXURY French retail group PPR yesterday said it has agreed terms to acquire the Italian suitmaker that once clothed Pierce Brosnan’s James Bond (pictured), beefing up its presence in high-end men’s fashion. PPR, owner of Gucci and Yves Saint Laurent, did not disclose the price it paid for family-owned Brioni, but analysts estimate Brioni’s enterprise [...]
FTSE FIRM IN RACE FOR 2012 GAMES DELIVERY January 4, 2012 ANDREW Tinkler, the boss of the FTSE 250 haulage empire Stobart Group, spent a quiet Christmas at his home in Cumbria. But now he is “raring to go” in 2012, he tells The Capitalist, focusing on the £100m development of the Stobart-owned London Southend Airport, which will turn what was once Britain’s third-busiest airport – [...]
Morgan Stanley reports rise in profits on strong bond trading April 19, 2012 A SURGE in trading activity, particularly in bonds, lifted Morgan Stanley’s profits during the first quarter of this year, the bank revealed yesterday. Unlike most of its rivals, Morgan Stanley outdid its first quarter last year, with its profits rising from $1.1bn to $1.4bn, once the effect of an accounting loss was stripped out. The [...]
CBI: slump will make Osborne miss debt goal May 2, 2012 THE GOVERNMENT’S budget deficit will go up, not down as planned, this year because of the new recession, the Confederation of British Industry (CBI) warned yesterday. Borrowing will rise to £128.2bn in 2012-13, the respected business group said, £8bn higher than the Office for Budget Responsibility (OBR) expects and £2.2bn above the £126bn borrowed in [...]
CBI: slump will make Osborne miss debt goal May 2, 2012 THE GOVERNMENT’S budget deficit will go up, not down as planned, this year because of the new recession, the Confederation of British Industry (CBI) warned yesterday. Borrowing will rise to £128.2bn in 2012-13, the respected business group said, £8bn higher than the Office for Budget Responsibility (OBR) expects and £2.2bn above the £126bn borrowed in [...]
Rothschild and Rockefellers in joint venture May 30, 2012 THE ROTHSCHILD and Rockefeller dynasties have announced a tie-up that will see two of the world’s best-known business families join forces in the asset management industry. RIT Capital Partners, which is chaired and part-owned by Lord Jacob Rothschild, is to take a 37 per cent stake in Rockefeller Financial Services, the wealth manager. The multi-million pound [...]