Editor's Picks
ECB surprises markets and backs off from bond buys?
Thursday 08 Dec 2011
The President of the European Central Bank (ECB), Mario Draghi, has today announced a barrage of new measures to help contain the credit crisis and to limit the risk that the provision of credit to the wider economy could be hampered by the resulting strains.
Broker snap: 'Choppy waters ahead' for recruiters, says Investec
Thursday 08 Dec 2011
After two recent updates from recruiters confirmed a marked slowdown in the fourth quarter, Investec has reassessed its forecasts for the sector.
Bank of England keeps policy settings steady, as expected
Thursday 08 Dec 2011
The Bank of England’s Monetary Policy Committee has just announced its decision to maintain its key policy rate unchanged at 0.5%. Likewise, the size of its asset repurchase programme has been kept at £275bn.
AstraZeneca lays off 1,150 in US, takes one-off charge
Thursday 08 Dec 2011
Pharmaceuticals giant AstraZeneca is to cut 1,150 jobs from its sales force in the US, as part of its "ongoing strategy to operate its business more efficiently to best serve patients".
Standard Chartered lowers profit forecast
Thursday 08 Dec 2011
Standard Chartered said its income for 2011 is now expected to grow at "just below a double digit rate" after a depreciation in Asian exchange rates against the dollar.
ECB surprises markets and backs off from bond buys?
Thursday 08 Dec 2011
The President of the European Central Bank (ECB), Mario Draghi, has today announced a barrage of new measures to help contain the credit crisis and to limit the risk that the provision of credit to the wider economy could be hampered by the resulting strains.
London pre-open: Footsie seen higher ahead of busy day
Thursday 08 Dec 2011
The Footsie is expected to open with moderate gains ahead of today's interest rate decisions by the Bank of England (BoE) and the European Central Bank (ECB). Investors will likely be cautious before the beginning of the crucial EU Summit later this evening, with many worried that it may not produce the goods that are expected.
Intertek acquires environmental services firm for £1.3m
Thursday 08 Dec 2011
Intertek Group, the testing and quality assurance company, has acquired Labs & Testing S.A. (L&T), a provider of chemical, microbiological, non-destructive testing and environmental services for £1.3m
Thursday tips round-up: Stagecoach and Cairn Energy
Thursday 08 Dec 2011
The Times’s Tempus column assesses Cairn Energy which to say the least has had a mixed time of it. It struck seriously lucky in India, finding significant quatitites of oil, and so agreed to sell 30% of its Indian business for $4bn last year.
US close: IMF rumours provide a late boost
Wednesday 07 Dec 2011
The Dow and the S&P 500 finished in positive territory, while the NASDAQ was flat, as the markets cautiously awaited the crucial EU summit to be held tomorrow evening.
Citigroup to lay off 4,500 employees, 2% of workforce
Wednesday 07 Dec 2011
US banking giant Citigroup announced that it will lay off 4,500 employees, equivalent to 2% of its global workforce.
FX round-up: Germany deflates EU summit hopes
Wednesday 07 Dec 2011
Reports that Germany is opposed to the latest deal to increase the eurozone’s firing power to contain the debt crisis sent the euro lower against major currencies.
Thursday newspaper round-up: IAG, Astra Zenaca, Marks&Spencer
Wednesday 07 Dec 2011
Estimates from accountants Deloitte found that European banks hold more than £1.5 trillion of non-core and non-performing assets on their balance sheets. Deloitte estimates that while banks will have to drastically reduce the size of their asset books, they will probably encounter major challenges in doing so given the scale of the bad loan problems they face. British banks, despite beginning
Broker snap: Deutsche Bank upgrades Resolution to buy
Wednesday 07 Dec 2011
Deutsche Bank has upgraded its rating on life assurance group Resolution from hold to buy, anticipating a “substantial” amount of cash to be returned to shareholders over the next two years. A 315p target price is given.
FTSE 250 Movers: Micro Focus leads the way higher
Wednesday 07 Dec 2011
Micro Focus International saw its shares leap almost 6% after it announced today that revenues fell 2.6% in the first half, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8.5%. It also revealed that it intends to return around $134.4m in cash by way of a B and C share scheme.
FTSE 100 Movers: Banks fall on negative news from Europe
Wednesday 07 Dec 2011
Miners continued to rise following a strong morning trade, with Randgold Resources leading the way after gaining over 3% and Eurasian Natural Resources not far behind. Although not on the top 10, Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta were also performing well.
Broker snap: Credit Suisse bullish on Xstrata's growth potential
Wednesday 07 Dec 2011
Credit Suisse has reiterated its outperform rating on mining giant Xstrata, saying that the company is a "relative winner in a fight for growth".
Newly appointed C&W Worldwide chief shows faith
Wednesday 07 Dec 2011
A round-up of the biggest director deals today so far.
Google App downloads hit 10 billion but revenues lag Apple
Wednesday 07 Dec 2011
Google shares will be closely watched at the open in New York after the Financial Times (FT) uses a Google blog post to draw attention to the so called “App war” with rival Apple.
RBS highlights Santander´s progress towards EBA requirements
Wednesday 07 Dec 2011
Analysts at RBS comment today on Banco Santander's sale of its Colombian business to CorpBanca for $1.225bn. "Once again, this is a sale of a profitable business (0.5% of Santander’s 2010 profits), in a potential growth market, in order to safeguard the future of the business today," they say.
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