Editor's Picks
Talks over GM's Vauxhall and Opel halt
Thursday 28 May 2009
Concerns grow about the future of Vauxhall and Opel workers after talks on who would buy GM’s European operations broke down in Germany. The German government said discussion halted after GM asked for more aid. During the overnight talks, it is believed the US firm asked for an extra €300m. GM is now in talks with two bidders to sell the European unit, Fiat and Magna International
Misery to continue until 2010 for Wolseley
Thursday 28 May 2009
Over-stretched plumbing supplies distributor Wolseley’s trading profit more than halved in the first nine months of its financial year.
AIM not a poisoned chalice for Stuttard
Thursday 28 May 2009
Hedge funds have been blamed for a lot of the global economic ills over
Misery to continue until 2010 for Wolseley
Thursday 28 May 2009
Over-stretched plumbing supplies distributor Wolseley’s trading profit more than halved in the first nine months of its financial year. The group said revenue in the nine months to the end of April 2009 was up 0.2% to £12.1bn, but was down 15% in constant currency terms.
Comment: Facebook's implied value dives $5bn
Wednesday 27 May 2009
A Russian internet firm has paid $200m for a 1.96% stake in Facebook, placing an implied total valuation of $10.2bn on the social networking site.
Comment: Facebook's implied value dives $5bn
Wednesday 27 May 2009
A Russian internet firm has paid $200m for a 1.96% stake in Facebook, placing an implied total valuation of $10.2bn on the social networking site.
Bankruptcy looms as bondholders reject GM deal
Wednesday 27 May 2009
General Motors took a step nearer bankruptcy today after investors failed to back a debt deal, a key part of the troubled carmaker’s restructuring plan. It’s also emerged that the German Government will halve the number of bidders for Opel to two following a series of meetings Wednesday. GM has until 1 June to complete a major restructuring, which includes the sale of Opel and Britain’s Vauxhall
New focus on value products pays off at Northern Foods
Wednesday 27 May 2009
Goodfellas pizza and Fox’s biscuit maker Northern Foods said a strong performance by its Chilled and Bakery divisions more than offset a below par performance by its Frozen division last year. The company said that profits at its Frozen division were down on the year before, largely as a result of the strength of the euro.
Opel and Vauxhall may get emergency cash
Wednesday 27 May 2009
Struggling carmakers Opel and Vauxhall, both owned by General Motors, could be in line for cash aid from governments in Germany and the UK. Business Secretary Lord Mandelson has "not ruled out making a financial contribution" to help keep Vauxhall going, while German Fiinance Minister, Peer Steinbruck, says it is "quite possible" that Opel could receive emergency funds
Recovery cries increase volume
Tuesday 26 May 2009
A fresh wave of optimism has swept across global stock markets, fuelled to varying degrees by a sharp rise in Japanese industrial output, higher oil prices and a stronger UK housing market.
FSA bans another ex-Morgan Stanley trader
Tuesday 26 May 2009
The Financial Services Authority has banned another former Morgan Stanley trader, the third case involving the US investment bank this month.
US consumer confidence hits eight-month highs
Tuesday 26 May 2009
US consumer confidence figures surged to eight-month highs in May, pushing global stocks higher as investors speculate signs of increased spending.
New Shell boss shakes up structure
Tuesday 26 May 2009
Royal Dutch Shell’s new chief executive Peter Voser has unveiled a sweeping reorganisation that will see the Anglo-Dutch’s oil and gas division merged in with its oil exploration and production and oil sands businesses.
Rio and Chinalco mulling changes to deal
Tuesday 26 May 2009
Sam Walsh, the head of Rio Tinto’s iron ore division, has hinted that the company’s controversial cash injection deal with Chinalco may yet be revised. Walsh told reporters the group would make its mind up on the $19.5bn share stake sale to Chinese state-owned aluminium producer Chinalco after it had taken soundings from investors and the Australian authorities.
BP chooses Skitovich to head Russian JV
Tuesday 26 May 2009
Oil giant BP has nominated Pavel Skitovich as its choice to become chief executive of Anglo-Russian joint venture TNK-BP.
Northern Foods predicts another tough year
Tuesday 26 May 2009
Biscuits, pizzas and Christmas puddings maker Northern Foods held its dividend as sales last year rose and underlying profits came in slightly better than gloomy predictions.
Rio Tinto cuts iron price by a third
Tuesday 26 May 2009
Mining giant Rio Tinto has agreed a 33% cut in contract fine iron ore prices with Japan’s Nippon Steel Corp for the current shipping year, in a deal likely to set the benchmark for other settlements. Prior to this, iron ore prices had risen by over 500% in six years of consecutive rises as insatiable demand from China soaked up the world's output of iron and other base metals
Market awaits vote on xG’s technology
Friday 22 May 2009
The boffins at xG Technology think they’ve found a way of helping US telecom operators provide mobile phone calls over the internet (VoIP) without the need for an expensive spectrum licence.
Strategy: High Yield recovers its poise
Friday 22 May 2009
Yields have been in the news a lot over the past few months, especially in light of the paltry saving rates available in bank and building society savings accounts at the moment. In years gone by, one way to supplement income with rates above normal savings rates offered by banks would be to build a well-diversified income yielding portfolio of large cap stocks.
Mixed outlook for Daily Mail group
Thursday 21 May 2009
While Daily Mail and General Trust’s slide in profits was wholly predictable given the grim advertising environment, the newspaper group’s rivals may have been more interested in what the firm had to say about the present situation.
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