Wednesday newspaper round-up: BoE, Euro break-up, Tesco
1st Aug 2012 06:52
Four leading economists have called on the Bank of England's Monetary Policy Committee to cut interest rates from their already historic low in an attempt to kickstart growth. The members of The Times' Shadow MPC ? Michael Saunders, UK economist at Citigroup; Sushil Wadhwani, of Wadhwani Asset Manag
Read moreTesco cuts jobs at US venture Fresh and Easy
27th Jul 2012 10:16
Supermarket titan Tesco has slashed 50 jobs at its US subsidiary, Fresh and Easy, following the decision by Tesco Chief Executive Philip Clarke to limit the number of new store openings at its loss making US arm while it turns its existing stores to a profit. Fresh & Easy, which employs around 5,2
Read moreRathbone Director ditches shares following 'resilient' quarter
26th Jul 2012 15:32
Richard Smeeton, the Director of Rathbone Brothers' investment management business in London and Jersey, traded in 10,000 shares on the same day the firm posted decline in profits in the first half of the year. Smeeton, who also manages a large number of client portfolios, pocketed £130,900 from t
Read moreAsda expands personal finance business
10th Jul 2012 10:59
Asda, the supermarket chain owned by Walmart, has unveiled plans to re-brand and expand its personal finance arm, conveniently taking advantage of widespread disatisfaction with banks following the recent LIBOR scandal and system failure at Natwest. Asda Money will now sell a number of finan
Read moreLondon close: Stocks flat, attention turns to Barclays late on
4th Jul 2012 16:48
- Former Barclays CEO quizzed by MPs over LIBOR fixing - Market subdued as Wall Street closed - Tomorrow's policy decisions eyed After a brief foray into positive territory, gains for the Footsie were pared in the final hour of trade with the focus shifting to Barclays as its former boss was being
Read moreSector movers: ING takes down supermarket giants
4th Jul 2012 16:23
Food and drug retailers were the worst performers of the day on Wednesday after ING downgraded its ratings on two of the sector heavyweights. The Dutch broker this morning cut its recommendation for Tesco from 'hold' to 'sell' and cut its target price from 320p to 285p, saying that the supermarket
Read moreLondon open: Markets cautious ahead of policy decisions
4th Jul 2012 08:38
- Ex-div stocks provide a drag in London - Chinese economic data dampens the mood - US markets closed for national holiday UK stocks slipped in early trading on Wednesday with volumes expected to be light as US markets remain closed for Independence Day; investors are likely to be cautious ahead of
Read moreWednesday broker round-up
4th Jul 2012 08:19
African Minerals: Jefferies keeps buy rating and 800p target. Anite: Jefferies raises target from 155p to 160p, buy rating retained. Barclays: Nomura downgrades from neutral to reduce, target cut from 268p to 210p. British American Tobacco: AlphaValue downgrades from add to reduce, target raised
Read moreThursday broker round-up
28th Jun 2012 10:24
3i Group: Citigroup upgrades to buy, target lifted from 215p to 220p. Abcam: Investec upgrades to buy, target lifted from 349p to 466p; Peel Hunt raises target from 440p to 480p, buy rating unchanged. bwin.party: UBS cuts target from 165p to 125p, neutral rating unchanged. Cookson: UBS cuts targe
Read moreWednesday newspaper round-up: Glencore, Falklands, Samsung
27th Jun 2012 07:02
The 65bn dollar (42bn pound) mega-merger between commodities giant Glencore and miner Xstrata was close to collapse last night after Qatar's sovereign wealth fund said it was unhappy with the deal. In a shock announcement, Qatar Holdings, Xstrata's second-biggest shareholder with 10.4 per cent, said
Read moreSunday newspaper round-up: Fiscal cliff, Boots, Tesco
24th Jun 2012 10:29
Turkey has admitted that one of its fighter jets may have violated Syrian airspace after Damascus confirmed that its forces shot the plane down over the Mediterranean.International figures called for calm as fears grew that the downing of a military aircraft belonging to a Nato member state could ha
Read moreFTSE 100 movers: Evraz leads the risers
18th Jun 2012 15:02
Steel giant Evraz was a high riser of the day after Alexander David Securities reiterated its 'buy' recommendation for the stock, while precious metals miner Polymetal was being boosted by an 'overweight' rating from Morgan Stanley. Luxury firm Burberry was lifted into the top spot, with the only
Read moreLondon midday: Stocks edge higher despite euro uncertainty
18th Jun 2012 11:49
- Markets digest Greek elections - Spanish bond yields above seven per cent - Barroso expects coalition to be formed 'swiftly' An underwhelming outcome to the Greek elections and surging bond yields in Spain saw the Footsie swing between gains and losses on Monday morning; by lunchtime, the blue ch
Read moreLondon open: Stocks underwhelmed by Greek elections
18th Jun 2012 08:43
- Early gains erased as investors digest Greek elections - New Democracy wins slim majority - Miners, financials provide a drag on the Footsie After a strong rise on the back of the weekend's crucial elections in Greece, stocks pared early gains as uncertainty still remains over the country's futur
Read moreTesco leaves Japan with tail between legs
18th Jun 2012 07:31
Tesco has clarified how it will get rid of its underperforming Japanese business as it battles to resume top-line growth in the UK. Tesco entered Japan in 2003 through the acquisition of C2 Network, which ran stores under the Tsurakame brand. The business currently comprises 117 small stores, pr
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