ECB warns of disruptive forex moves as rates held October 7, 2010 Sudden swings in foreign exchange rates pose a threat to economic growth, European Central Bank President Jean-Claude Trichet said yesterday after the ECB kept rates on hold at one per cent. In his strongest comments on currency volatility in almost a year, Trichet said exchange rates should reflect economic fundamentals, a pointed reference to countries [...]
Colgate sees profit growth slowing down October 28, 2010 Colgate-Palmolive said 2011 earnings-per-share growth would slow to mid-single digits as it spends more on advertising and new product development to help lift sales volume and market share. The maker of Colgate toothpaste and other personal-care items said third-quarter sales fell 1.4 per cent to $3.94bn (£2.47bn) as pricing was flat and the foreign exchange [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 17, 2011 FINANCIAL TIMES FED SEEKS ANNUAL US BANK STRESS TESTS The Federal Reserve wants to subject US banks to annual capital tests, reserving the right to veto dividend pay-outs if they do not pass. A draft of the new rule is set to be approved by the Federal Reserve Board and put out for public comment [...]
Discipline over margins will pay off March 28, 2011 FIRST appearances can be deceiving. At the headline level, Aberdeen’s assets under management (AUM) fell four per cent to £176.2bn in the two months to 28 February. However, most of this can be explained by falling stock markets and foreign exchange movements. A more accurate measure is net inflows, which were £0.2bn in the two [...]
ANALYST VIEWS IS IMPERIAL TRADING POSITIVELY September 22, 2010 RICHARD HUNTER| HARGREAVES LANSDOWN The update has been cautiously well received, with pressure on sales being offset by a reasonable rise in revenues. Central Europe has tended to carry the flag in more recent updates, as other regions have fallen foul of tougher economic conditions and increased government taxes on tobacco. JONATHAN JACKSON| KILLIK & [...]
Rate rise in euro would expose weak periphery April 5, 2011 MARKETS are expecting a quarter point rise from 1 to 1.25 per cent when the European Central Bank (ECB) meets tomorrow. However, even if Jean-Claude Trichet, president of the ECB, announces the quarter point rise, the euro could still come under pressure, as attention focuses on the impact of higher interest rates upon Europe’s beleaguered [...]
Voda pays $5bn for Essar’s India stake March 31, 2011 VODAFONE yesterday said it would pay $5bn (£3.1bn) to buy Essar out of its Indian mobile phone venture, paving the way for a potential IPO of the business. Essar said it was selling its 33 per cent stake for $5bn in cash after exercising its put and call options. The deal, which tidies up Vodafone-Essar’s [...]
Three hawks doesn’t make a rate change March 22, 2011 STERLING broke through $1.63 yesterday on the back of CPI inflation coming in higher than expected. Investors are anticipating that the Bank of England will have to raise interest rates sooner than previously expected. However, despite the Bank of England’s obligation to target 2 per cent, and the growing chorus of experts judging that they [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 4, 2011 FINANCIAL TIMES UNITED ANGER AT EU CARBON RULE The European Union’s plan to pull almost every leading airline into its scheme to limited carbon emissions is so “beyond the pale”, that a foreign government is certain to challenge it, according to the head of the world’s largest airline by passenger traffic, the newly merged United [...]
Stopping the rot: Eurozone contagion May 24, 2011 GLOBAL REACH PTNRS MARK THOMPSON The resurgence of Eurozone sovereign debt fears has driven the euro to two month lows against the dollar in the last two trading sessions and looks likely to keep the common currency under pressure in the days to come. Investors are right to be anxious about the implications of further [...]