Maersk shares slump as it unveils fast track fundraising to build a war chest September 2, 2009 DANISH shipping and energy group Maersk yesterday saw its shares tumble after it unveiled an accelerated share sale valued at 9.2bn krone (£1.1bn) to build a war chest for acquisitions. Shares of the firm, which owns the world’s biggest shipper Maersk Line, shed over eight per cent yesterday, falling to 33.9 krone. This came after [...]
Maersk shares slump as it unveils fast track fundraising to build a war chest September 2, 2009 DANISH shipping and energy group Maersk yesterday saw its shares tumble after it unveiled an accelerated share sale valued at 9.2bn krone (£1.1bn) to build a war chest for acquisitions. Shares of the firm, which owns the world’s biggest shipper Maersk Line, shed over eight per cent yesterday, falling to 33.9 krone. This came after [...]
Barclays gets a boost from star BarCap November 10, 2009 BARCLAYS, the UK’s second-largest bank, yesterday revealed a robust third-quarter profit haul and signalled light at the end of the bad debt tunnel, in a sign that the nascent economic recovery is feeding through into the banking sector. Barclays said pre-tax profit for the third quarter came in at £1.56bn, down from £2.8bn a year [...]
Sky’s rivals want to punish it for being a success October 29, 2009 BACK in 1997, Japanese carmaker Toyota took a gamble and spent $1bn (£603m) developing the Prius, its hybrid fuel vehicle. At the time, the panic over global warming had yet to develop and there was little call for a mass-market green car. In its first year of production, it sold just 300 units. Now the [...]
EX-RBS BANKER HOUNDED OUT OF THE CITY September 28, 2009 ONE of Sir Fred Goodwin’s former sidekicks at the Royal Bank of Scotland was last night forced to resign from his new City role at headhunter Odgers Berndtson, after his connection to the beleaguered bank cost his firm one of its most lucrative contracts. Johnny Cameron, previously head of investment banking at RBS, said he [...]
EX-RBS BANKER HOUNDED OUT OF THE CITY September 28, 2009 ONE of Sir Fred Goodwin’s former sidekicks at the Royal Bank of Scotland was last night forced to resign from his new City role at headhunter Odgers Berndtson, after his connection to the beleaguered bank cost his firm one of its most lucrative contracts. Johnny Cameron, previously head of investment banking at RBS, said he [...]
FTSE 100 nudges higher as banks start to look oversold May 14, 2009 THE FTSE 100 edged up by 0.7 per cent yesterday, snapping a three-day losing run, with gains in banks and miners offsetting weakness in oil producers hurt by weaker crude prices. The index closed 31.21 points higher at 4,362.58 in a choppy session. “It still looks too early to predict the end of this two [...]
Slowdown continues for builders August 10, 2009 THE construction industry has experienced further decline across all sectors during the second quarter of 2009, according to the yesterday’s Construction Trade Survey. Sixty-six building contractors reported that output in the commercial sector fell in the second quarter of 2009 while 55 per cent reported output fell in the private new housing and industrial sectors. [...]
Interserve boosted by outsourcing August 11, 2009 SHARES in building maintenance firm Interserve rose yesterday after it reported an 18.7 per cent rise in first-half profit and said economic pressures would further boost public and private sector outsourcing. The firm, which cleans Britain’s crown courts and maintains government buildings, posted a pre-tax profit of £40m, up 18.7 per cent year-on-year, on sales [...]
NEW YORK REPORT September 15, 2009 STOCKS rose yesterday to 2009 highs after stronger manufacturing and retail sales data boosted commodity prices and shares of materials companies.Yesterday’s gains lifted the S&P 500 above 1,050 for the first time since early October. The improvement in retail sales in August reassured investors about a rebound in US economic demand. A rise in the [...]