Fears over Barclays sell-off drag the FTSE 100 down June 2, 2009 THE FTSE 100 ended down 0.7 per cent yesterday, hurt by banks after a major shareholder sold its holding in Barclays, although improving US pending home sales lent some support. The index closed 29.17 points lower at 4,477.02, giving up some of the previous session’s 2 per cent rise. Barclays topped the FTSE 100 losers’ [...]
New dawn at Chrysler and GM in the US June 1, 2009 CAR giant General Motors (GM) finally filed for Chapter 11 yesterday, as President Barack Obama said his government’s plan for the carmaker was viable and would see the business rise out of bankruptcy quickly. When GM emerges from the largest-ever bankruptcy filing in US manufacturing history, the debt-heavy company will be majority owned by the [...]
Poundland profits up on slump June 1, 2009 EUROPE’S largest single price discounter, Poundland, will today prove that it is continuing to buck the retail gloom and report a 47 per cent jump in annual operating profit. The group said for the year to 29 March operating profit rose to £11.8m from £8m the year before. And earnings before interest, taxes, depreciation and [...]
House market enjoys some spring stability May 31, 2009 HOUSE prices remained stable for the first time in 20 months last month, according to the latest survey by Hometrack. House prices remained unchanged in May, compared to month on month declines since the housing slump. A combination of stronger sales volumes, continued buyer interest and a dwindling supply of property for sale has provided [...]
Vanguard eyes Barclays’ iShares May 31, 2009 Barclays has received a $5bn (£3.1bn) counter-bid for its iShares exchange-traded funds business from US fund manager Vanguard, potentially scuppering the existing $4.4bn deal with CVC Partners. The bank has received interest from several parties for iShares, as well as the Barclays Global Investors (BGI) unit that houses it. Both are up for sale as [...]
Vanguard eyes Barclays’ iShares May 31, 2009 Barclays has received a $5bn (£3.1bn) counter-bid for its iShares exchange-traded funds business from US fund manager Vanguard, potentially scuppering the existing $4.4bn deal with CVC Partners. The bank has received interest from several parties for iShares, as well as the Barclays Global Investors (BGI) unit that houses it. Both are up for sale as [...]
Retail sales fall in May as pain worsens May 28, 2009 SHOPPERS are belt-tightening again, according to data released yesterday which shows that high street sales fell by more than expected in May. New figures from employers’ organisation the CBI showed that some 17 per cent more retailers reported a fall, rather than a rise, in sales during May. The data suggests that April’s rise, which [...]
Banks and retailers rally to steer the FTSE 100 ahead May 27, 2009 GAINS in banks and retailers outweighed weakness in energy stocks and drugmakers yesterday to leave the FTSE 100 up by 0.1 per cent, or 4.51 points, at 4,416.23. Trade was thin with just 67 per cent of the average of the last 90 days of trading transacted with the absence of concrete data on the [...]
Sterling’s long decline comes to an end May 27, 2009 IT may seem strange given the dire state of Britain’s public finances but sterling is starting to regain some of its strength, especially against the dollar. Yesterday the pound rose above $1.60 for the first time in seven months, boosted by better services sector sentiment and mortgage approvals. Sterling is now trading well above its [...]
US economic data in focus to pull US markets up May 25, 2009 WALL Street may feel more pressure this week unless a raft of economic data, including consumer confidence, home sales and gross domestic product (GDP), restores the optimism that had driven a two-month rally before fading last week. Investors cited the potential bankruptcy of General Motors as a concern, as further job losses could imperil the [...]