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John Lewis sales accelerating

first_img RETAILER John Lewis said year-on-year department store sales accelerated last week, shrugging off fears that prospective tax rises and employment uncertainty would hit consumer spending.The employee-owned firm, traditionally seen as a bellwether of the UK retail sector but which has outperformed competitors for over a year, said sales at its 28 department stores and one “at home” store grew 15.5 per cent to £52.5m in the week to 7 August.“The first week of the half year, and a vibrant performance to get us under way as we generated sales 15.5 per cent ahead of last year’s mark. Branch teams reported significant footfall, particularly on Saturday,” said Chris Hooper, John Lewis’ head of operational support.The department store outcome followed rises of 5.3 per cent and 8.2 per cent in the previous two weeks respectively, but concerns about future growth in the retail sector persist.“In light of forthcoming VAT increases, concerns about public spending cuts and worries about the housing market, we believe spending is likely to be subdued over the next quarter,” said Seymour Pierce analyst Freddie George.John Lewis also owns the 231-store Waitrose supermarket chain, where week to 7 August sales rose 10.3 per cent to £89.6m, underlining its status as one of the UK’s fastest growing grocers.“There is no doubt, we believe, the company, as is M&S, is benefiting from householders staying at home during the holiday season and eating out less after the (soccer) World Cup,” said George. John Lewis sales accelerating John Dunne Show Comments ▼ Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot whatsappcenter_img Tags: NULL Friday 13 August 2010 3:25 am whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndolast_img read more

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Co-op finance seeks suitors

first_img Co-op finance seeks suitors KCS-content whatsapp whatsapp Show Comments ▼ Sunday 24 October 2010 11:01 pm Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Share THE Co-operative Group is considering a potential sale of its £18bn life and pensions business, it emerged this weekend.A source close to the company said the group was exploring the possibility of a sale and that an information pack was “doing the rounds.” Two potential bidders include Resolution and Phoenix, firms that specialise in buying insurance and pension closed books. However, there are thought to be no frontrunners or stand out bids for the business so far, despite a number of expressions of interest from potential bidders.Deutsche Bank has been hired to advise on any possible sale of the business, although the Co-op is under no pressure to sell and may still decide to continue as it is. Any valuation of the company would come in at a fraction of the £18bn of assets – probably in the region of around three per cent putting a value on the life and pensions business at around £540m. The strategic review was instigated earlier this year following the Co-operative’s acquisition of Britannia building society in January 2009.Neville Richardson, the former head of Britannia building society became chief executive of Co-operative Financial Services and has been leading the integration of the two businesses ever since, including the strategic review.Co-operative Financial Services is in good shape. Profits jumped 50 per cent in the first half of 2010 to £75m. But the insurance arm has been hit hard by the economic downturn. Co-op’s insurance services division made a pre-tax profit of £25m in 2009 – the last available set of results – down 50 per cent on a year earlier. Tags: NULLlast_img read more

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Broad based recovery as GDP growth stuns critics

first_img Broad based recovery as GDP growth stuns critics More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com KCS-content Share THE UK economy has confounded forecasts by growing 0.8 per cent during the third quarter of this year. Consensus was for an expansion of 0.4 per cent, on the basis of slowdowns in consumer spending, house prices and declining sentiment in PMI surveys.Unexpectedly strong figures for the construction sector were one reason for the surprise: the sector accounted for a quarter of the overall 0.8 per cent rise, despite making up only six per cent of the economy. Construction grew four per cent quarter-on-quarter, faster than services or manufacturing, which each grew 0.6 per cent. Services account for 76 per cent of GDP.Government output growth expanded 0.6 per cent, also above expectations. It is not yet clear whether the construction sector’s strong performance is due to private or public investment and therefore what effect government spending cuts will have.The figure means that the economy as a whole has now grown 2.8 per cent since the end of the recession, in line with recovery speeds after previous downturns. It has prompted economists to revise their overall forecasts for GDP growth to around two per cent for the year, up from many previous estimates of 1.5 per cent. The data release came as ratings agency Standard & Poors raised the outlook on the UK’s AAA credit rating to stable from negative, citing reduced uncertainty about the coalition’s deficit reduction plan.But economists warned that the strong growth might be only a temporary respite. RBS’s Ross Walker, whose GDP tracker correctly forecast the surprise figure, thinks that the fourth quarter will see growth halve to 0.4 per cent.“The recent headline growth rates are obviously not sustainable,” he says. “The construction sector was hit hard during the recession so this is partly a private-sector rebound. The services PMI is the chink in the third-quarter GDP armour, with risk of further moderation or sluggish growth.”But he says the distribution of the growth raises the possibility that the economy could rebalance away from a concentration in services. Expectations are now that the Bank of England (BoE) will wait for more data before kicking off any quantitative easing (QE) programme. Some had anticipated a possible resumption of asset purchases next month.Schroders’ Azad Zangana says: “Even using pre-crisis measures of trend growth, this figure is above trend. With inflation still running above the BoE’s three per cent upper limit, it will be incredibly difficult to justify resuming QE in November.” whatsapp whatsappcenter_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ Tuesday 26 October 2010 8:22 pmlast_img read more

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Extra £4m windfall for Betfair Pair

first_img Extra £4m windfall for Betfair Pair Show Comments ▼ Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm BETFAIR founders Andrew Black and Ed Wray will pocket an extra £3.6m between them after shares in the firm rocketed following its IPO.Morgan Stanley, acting as stabilising manager, triggered an over-allocation clause after shares in the betting exchange jumped from the float price of £13 to over £15 in its first day of trading.The mechanism obliged Black, a former professional gambler, and Wray, an ex-City trader, to sell a further 10 per cent of their holding in the firm, earning them £1.9m and £1.7m respectively.This is on top of the £14m and £17m already cashed in by the pair, who founded the firm 10 years ago.Other stakeholders, including Charlton Acquisition and Balderton Capital also sold more shares, increasing the percentage of the firm available on the market to 46 per cent.This is comprised of the 15.2 per cent floated last week, an additional 1.6 per cent floated through the over-allocation mechanism and approximately 30 per cent already owned by staff and small shareholders.The total over-allocation sum is worth £22.8m before the deduction of underwriting commissions and expenses. The shares floated last week were worth £233.7m. Thursday 28 October 2010 9:19 pm center_img whatsapp KCS-content whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULLlast_img read more

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Bellway

first_img KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald Tuesday 7 December 2010 8:48 pmcenter_img whatsapp Bellway Show Comments ▼ Share After a tough autumn for its shares, in part due to the fiscal crunch, Bellway looks well-priced in light of its third-quarter interim statement.Despite the fall in year-on-year unit sales, it beat consensus expectations and analysts are still setting their target price higher than its 612.5p close yesterday.The company has issued guidance suggesting that pre-tax profit is on track to grow 20 per cent in the first half of next year, in part because of margin improvements and developments in the pipeline.It also expects a similar level of completion activity in the six months to January next year as it saw during the same period last year. But the board had to admit that UK?housing is still a “tough and testing market”, so investors should keep a wary eye on consumer confidence and house prices. Given the 9.5 per cent rise in the firm’s share price yesterday, the best short-term buying opportunity might have passed for now, but investors could still catch something of a tail-wind if the wider macro-economic signs fall into line. last_img read more

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Betfair delivers mixed first interims

first_img whatsapp alison.lock Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap Betfair delivers mixed first interims Tuesday 14 December 2010 8:16 amcenter_img BETFAIR Group, the world’s largest betting exchange, has reported lower than expected earnings in its first interim results since floating on the London Stock Exchange.Despite growing sales 11 per cent to £167.2m on the previous year and raising core earnings (Ebitda) by almost 26 per cent to £35.5m from £28.2m a year earlier, the results were below analysts’ consensus forecasts.The company, which listed just two months ago, said trading over the period had slowed in the second quarter to just 1.6 per cent year-on-year revenue growth, as poker income weakened and bad weather caused horse races to be cancelled.“Games growth has strengthened but poker has continued to show significant year-on-year declines following its migration to the Ongame network,” said Betfair chief executive David Yu in a statement.The company said it would address the issues in poker and horse racing with a number of product enhancements and initiatives in the second half. Betfair shares, which had been sold at 1300 pence in October’s IPO, fell more than nine per cent on the news, to trade as low as 1044p .Analysts took mixed views on the outlook, some calling the trading performance disappointing and others saying the performance was better than expected.Ivor Jones at Numis Securities said first-half earnings had come in above his forecast of £33m. “The long-term growth story is not supported by recent trading but nor is it undermined,” he said. “We believe Betfair’s leadership in its niche markets (trading sporting odds and high value bettors) gives it good growth prospects.”But James Hollins, an analyst at Evolution Securities, said: “Of greater concern is the decline in 2Q horse racing revenue … We find it hard to marry the group’s premium rating with myriad regulatory issues and the need to ‘address challenges’ in its core horse racing product.” Betfair saw active customers rise by 31 per cent to 654,000 over the half-year, with strong revenue growth of 22 per cent in the first quarter driven by the football World Cup.It has maintained its target for double-digit growth in adjusted Ebitda in 2011. whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem Tags: NULLlast_img read more

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Groupon nets over $500m in financing drive

first_img ONLINE coupon service Groupon is more than half way to completing its $1bn (£645m) funding drive, according to a recent regulatory filing. The Chicago-based firm has secured more than $500m from unnamed investors since walking away from a takeover offer from Google in December, it said in papers lodged with the US Securities and Exchange Commission last week. Some of the proceeds will be used to repurchase shares owned by directors, according to the filing. Chief executive and founder Andrew Mason, alongside several board members, was named in the filing, which did not specify which board members were set to sell stakes. Groupon walked away from a takeover offer from Google last month, which was reported to be worth as much as $6bn. Groupon is a privately held company that was launched two and a half years ago to send its members daily e-mails containing discount coupons. It now employs more than 1,000 staff and operates in 35 countries. Yahoo offered in the region of $3bn for Groupon in failed acquisition talks in early 2010. whatsapp Groupon nets over $500m in financing drive Share whatsapp Show Comments ▼center_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Monday 3 January 2011 10:14 pm KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: NULLlast_img read more

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What the other papers say this morning

first_img Tags: NULL Show Comments ▼ KCS-content whatsapp Share whatsappcenter_img What the other papers say this morning FINANCIAL TIMESBUY-OUT GROUP GAINS CONTROL OF MADEJSKI’S LARGEST PROJECTSir John Madejski, the property and publishing tycoon, has sold control over one of Britain’s largest commercial developments to a private equity consortium in the latest debt-driven property transaction. Benson Elliot, the private equity real estate firm, has teamed up with UK developer Stanhope to acquire the majority of the Station Hill redevelopment from Sir John’s Sackville Developments. BOPARAN REJECTS TALK OF BREAK-UPRanjit Singh Boparan, the poultry processor considering a bid for Northern Foods, has played down speculation that he would break up the convenience food maker if he secured control of the company. Boparan, whose 2 Sisters company is Tesco’s main chicken supplier, has until 21 January to announce whether he will make a cash offer under a Takeover Panel deadline.GLOBAL ACCORD TARGETS CREDIT BUBBLESBanking regulators have quietly taken a major step towards harmonised global regulation by agreeing to raise worldwide capital requirements whenever an individual country declares a credit bubble. Part of the Basel III reform package, the “countercyclical capital buffer” heralds a step change in the way national banking regulators interact.FINE WINE INVESTORS RECEIVE A CRUDE AWAKENING OVER RISKFine wines such as Bordeaux or Rioja do not offer much more diversification for an investor than Brent crude oil, research by two economists at the International Monetary Fund has found. Investment in fine wines has boomed in recent years, according to research, partly in the belief that this diversifies risk. THE TIMESCONTAGION FEARS FORCE AMERICAN FUNDS INTO RETREAT FROM EUROPEAmerican money market funds have aggressively cut back their dealings with the eurozone’s financial services sector amid fears that the sovereign debt crisis could infect the region’s banking system. David Glocke, head of taxable money-market funds at Vanguard Group, said that his firm’s $109bn prime fund was no longer directly exposed to such banks.RETAILERS THREATEN TO HALT INVESTMENT OVER SHOP TAXBritain’s biggest supermarkets and retailers are threatening to withdraw future investment from Scotland unless the government at Holyrood abandons plans to impose a new levy on their largest stores. Senior sources within the retail sector have told The Times that major players on the high street are “raging mad” at the plan.The Daily TelegraphGOLDMAN SACHS TO REVEAL HOW IT MAKES ITS MONEYGoldman Sachs plans to disclose more than it has ever done about how it makes money in an effort to end the barrage of public criticism it has had since the financial crisis. The overhaul of how it reports its results is one of a series of changes the investment bank is making following an internal review by a committee headed by two of its most senior executives. BARCLAYS COULD SET UP BAD BANK, SAY UBSBob Diamond’s elevation to chief executive from head of Barclays’ corporate and investment banking arm, combined with the introduction of capital and liquidity rules, could provide the catalyst for the bank to restructure, UBS suggested yesterday. Analysts said that such a move would shed low-return legacy assets.THE WALL STREET JOURNALPORSCHE OPTIMISM RUNS HIGHVolkswagen chief executive Martin Winterkorn said yesterday the auto maker is “slightly more optimistic” about the prospects and timeframe of the merger with Porsche, after a US court last month dismissed a lawsuit filed by a group of hedge funds over alleged market manipulation. He noted, however, the plaintiffs could still appeal the verdict.INDITEX FOUNDER TO STEP DOWN AS CHAIRMAN Inditex’s founder, controlling shareholder and chairman Amancio Ortega proposed that chief executive Pablo Isla become the new chairman of the world’s largest fashion retailer by sales. The company behind the Zara clothing chain said in a press release that Ortega will propose Isla as chairman at the next shareholders meeting in July. Monday 10 January 2011 8:58 pmlast_img read more

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High demand helps IQE’s revenues

first_img whatsapp Show Comments ▼ whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com High demand helps IQE’s revenues Chip semiconductor company IQE has reported that its second-half 2010 revenues and profits continued to show strong growth, as a result of higher demand for the companies speciality advanced semiconductor wafer products. The company, a leading manufacturer of advanced semiconductor wafers and related services to the semiconductor industry, indicated that revenues for companies second half should be more than 17 per cent higher than the first half ­– with full-year revenue growth of over 36 per cent on full-year sales of at least £71.7m, the company believes. Share Tags: NULL Thursday 20 January 2011 7:49 pm KCS-content last_img read more

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FTSE shrugs off bank levy tax as it surges to 32-month high

first_img KCS-content whatsapp BRITAIN’S leading share index jumped higher yesterday, ending at levels not seen since May 2008, supported by rallies from banks and miners, and by gains in energy issues following results from BG Group.At the close, the FTSE 100 index was up 40.30 points, or 0.7 per cent at 6,091.33, its fifth gain in the last six trading sessions.Banks were higher, led by part-nationalised Lloyds Banking Group up 2.1 per cent, sidestepping news that Britain has slapped an extra £800m tax on lenders.The British government said yeserday it will impose the full amount of a planned levy on bank balance sheets this year, instead of phasing it in.“It is likely to remain more of a political football than one actually affecting investors’ views towards the major UK banks,” said Ben Critchley, a sales trader at IG Index.Integrated oils also lent their strength to the blue chips, led by BG Group which gained 2.1 per cent after posting forecast-beating fourth-quarter results.Miners rallied after early falls, with African Barrick Gold up 3.4 per cent as the gold price rose on short-covering, and as a surprise rate hike from top commodity consumer China was shrugged aside.“The move by China to hike interest rates … is a move to curb spiralling inflation and normalise growth, not impede it,” said Joshua Raymond, market strategist at City Index.Raymond noted that traders continued to buy into both mining and banking weakness, despite the rate rise, indicating a “bullish bias”. “That said, whilst the US markets continue to hit new 52-week highs and the DAX hits a new three year high, the FTSE 100 is stuck in a trading range. Traders are likely to need to see the FTSE break out of its current range and trade consistently above nearest resistance levels of 6,117 before they can be convinced that the UK Index can follow its European and US peers,” he added. Xstrata gained 1.7 percent after the miner beat forecasts with an 86 percent jump in full-year profit on stronger commodity prices, gave a positive outlook for 2011, and set its final dividend at 20 cents.“This reflects a return to pre-financial crisis levels and confidence in the medium-term outlook, and underscores our buy recommendation,” said Daniel Harris, head of dealing at CFD and spread betting firm H2O Markets.Among individual stocks, engineer GKN was the top blue chip gainer, up 5.6 per cent reflecting strength in European carmakers ahead of upcoming sector results, and vague underlying bid speculation, said traders.Smiths Group, ahead 2.1 per cent, also saw a return of bid chatter, with US firm Honeywell once again seen as a possible predator, traders said.Inmarsat added 3.6 per cent as Harbinger Capital Partners sold its remaining stake in the satellites operator, clearing an issue overhanging the stock, and prompting upgrades from BofA Merrill Lynch and Goldman Sachs. Retailer Marks & Spencer rose 3.8 per cent after poaching Tesco’s Laura Wade-Gery to head up its Internet business. Tesco fell 1.5 per cent on the move. Oil explorer Cairn Energy was a top blue chip faller, down 2.4 per cent. India wants state-run Oil and Natural Gas Corp’s concerns over royalties to be addressed before approving a $9.6bn sale of control of Cairn India’s assets to Vedanta Resources. India-focused miner Vedanta shed 0.8 per cent. whatsapp Share FTSE shrugs off bank levy tax as it surges to 32-month high center_img Tuesday 8 February 2011 7:54 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. 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