Taylor Wimpey begins £250m bond offering November 22, 2010 HOUSEBUILDER Taylor Wimpey rounded off its refinancing plan yesterday by announcing a new £100m debt facility and plans to sell £250m of five-year bonds. The news follows on from the firm’s £950m credit facility, which was announced last week as the last act by outgoing chief financial officer Chris Rickard. Prudential’s M&G UK Companies Financing [...]
BMW shares fall in spite of massive profit November 3, 2010 CARMAKER BMW reported an enormous rise in profit yesterday, due to to rocketing sales in emerging markets, though investors were disappointed with the group’s outlook for the rest of the year. The German company reported third-quarter pre-tax profit of €871m (£760.6m), up from €76m a year ago. This represents an 11-fold increase. Sales in China [...]
BMW shares fall in spite of massive profit November 3, 2010 CARMAKER BMW reported an enormous rise in profit yesterday, due to to rocketing sales in emerging markets, though investors were disappointed with the group’s outlook for the rest of the year. The German company reported third-quarter pre-tax profit of €871m (£760.6m), up from €76m a year ago. This represents an 11-fold increase. Sales in China [...]
CITY SETS OFF HALF A TONNE OF FIREWORKS November 14, 2010 LONDONERS were treated to one of the capital’s biggest public fireworks displays of the year on Saturday, as the Lord Mayor’s grand finale boasted nearly half a tonne of fireworks. The show’s 800-year old parade was three miles long this time – twice as long as the route it followed from Temple to Bank – [...]
BEST OF THE BROKERS November 2, 2010 MEARS Altium rates the housing repair firm a “hold” with a target price of 270p. The broker has downgraded its 2010 pre-tax profit forecasts by £0.6m, or two per cent, due to costs linked to small contract wins in the wake of Connaught’s collapse. The firm’s social housing pipeline has slipped slightly to £2.8bn, however, [...]
THE TIPSTER October 3, 2010 SUPERMARKET J Sainsbury had a bumper summer with the share price plotting a course towards the 400p mark. The trading statement, due mid-week, has potential to bring buyers back in. For as long as talk of a double dip recession is kept at bay retailers may be in for a good Christmas. But be warned, [...]
BlackRock says it has stabilised as it beats earnings predictions October 20, 2010 BLACKROCK, the world’s largest asset manager, posted sharply better-than-expected quarterly earnings last night, as it attracted more assets from clients and earned stronger fees on the back of a stock market rally in September. New York-based BlackRock said earnings rose to $551m (£347.9m)?during the three months to the end of September, compared to $317m a [...]
PERSONAL FINANCE NEWS October 7, 2010 CONSUMERS PAYING OFF CARDS FASTER Data from the British Bankers’ Association shows that the number of credit card purchases has been on the rise over the last year. While there were 158m purchases on cards in August 2009, July 2010 saw 169m and in August this year consumers upped the number of purchases to 173m. [...]
Banks propel FTSE upwards after interest rates decision December 9, 2010 BANKS helped Britain’s top shares rise yesterday after the Bank of England kept interest rates and quantitative easing measures unchanged, while US jobs figures raised hopes that a recovery was under way. The FTSE 100 was up 13.43 points, or 0.2 per cent, at 5,807.96, eradicating Wednesday’s losses, though gains were muted, with some traders [...]
BoE Inflation Report set to widen debate November 7, 2010 THE Bank of England’s quarterly Inflation Report will be scrutinised particularly closely by the market for clues to the future direction of British monetary policy when it is published on Wednesday. The three-way split among the Monetary Policy Committee (MPC) members has created growing uncertainty about the timing and future direction of changes to interest [...]