Goldman earnings prompt FTSE sell-off January 19, 2011 A surprisingly sharp sell-off on the FTSE this afternoon pushed the index below the 6,000 mark, to close down 79.73 points or 1.32 per cent, at 5,976.70. A bigger than expected fall in earnings at leading US investment bank Goldman Sachs sparked a rout among investors across all sectors. Earlier in the day, more bad [...]
Asia boosts Unilever’s profit April 29, 2010 CONSUMER goods giant Unilever’s drive to increase volume growth paid off for the fourth quarter in a row as it beat forecasts with a rise in underlying sales in early 2010, with a boost from strong emerging market growth. Unilever, which makes Ben & Jerry’s ice cream, Knorr soup and Dove soap, said yesterday that [...]
CITY MOVES | WHO’S SWITCHING JOBS December 5, 2010 Linklaters Linklaters, the global law firm, has appointed Anne Byrne as UK head of real estate, based in London. Byrne, a partner since 2001, previously worked for Capital Shopping Centres and ProLogis and recently acted for UBS on its new European headquarters building at Broadgate. Linklaters also hired Yves Moreau as the global head of [...]
BEST OF THE BROKERS November 7, 2010 ROYAL BANK OF SCOTLAND Standard & Poor’s has upgraded the State-backed bank to “buy” from “hold”, but has trimmed its 12 month target price by 1p to 57p. The broker notes that RBS’s results last week confirmed the bank is on track to deliver profit next year, and expects a significant uplift in profitability over [...]
Unilever puts Italian firm on block April 19, 2010 Consumer goods giant Unilever is set to put its Italian frozen foods unit up for sale next week with private equity groups Permira and Lion Capital likely to lead the €600m plus (£527.6m) auction, sources close to the situation said yesterday. Permira, which owns Birds Eye Iglo, and Lion Capital which runs Findus Group are [...]
Wall Street tumbles but investors remain positive September 27, 2010 US stocks slipped yesterday as investors took a break from a four-week rally, but they remained optimistic the advance would resume as a flurry of deals suggested companies were seeing value in the market. The Dow Jones industrial average closed down 48.22 points, or 0.44 per cent, at 10,812.04. The Standard & Poor’s 500 Index [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 15, 2010 FINANCIAL TIMES INVESTORS SCEPTICAL OF UNILEVER GROWTH PLAN For a company whose products clutter the shelves of virtually every home in the UK – not to mention plenty in Brazil, Indonesia and China – Unilever’s shares are not in demand. The maker of Dove soap, Persil detergent and PG Tips tea managed to confound analyst [...]
Legal eagle: how London’s top law firm retained its grip on the City February 20, 2011 The head of law firm Slaughter and May is two minutes late for his interview with City A.M., for which he immediately apologies. The first thing is surprising; the second is not. The partners in this blueblooded City institution have spent a lifetime doing things correctly. Even among other Magic Circle outfits, this firm manages [...]
Retailers and commodities push FTSE to three-week high December 7, 2010 Britain’s top shares closed at their highest level in over three weeks yesterday, lifted by commodity makers and retailers as equities remained the preferred asset class among investors despite macro concerns. The FTSE 100 ended up 38.17 points, or 0.7 per cent, at 5,808.45, having closed 0.4 per cent higher on Monday and 7.3 per [...]
Retailers and commodities push FTSE to three-week high December 7, 2010 Britain’s top shares closed at their highest level in over three weeks yesterday, lifted by commodity makers and retailers as equities remained the preferred asset class among investors despite macro concerns. The FTSE 100 ended up 38.17 points, or 0.7 per cent, at 5,808.45, having closed 0.4 per cent higher on Monday and 7.3 per [...]