ENTREPRENEURS NEWS | IN BRIEF July 24, 2011 MAJORITY THINK GETTING FUNDING IS EASY A sizable 39 per cent of Britain’s entrepreneurs expect conditions for accessing external sources of capital to be “normal” or “easy” in the next 12 months. This compares to 25 per cent who said this six months ago, according to research from May 2011 by Investec Specialist Private Bank. [...]
Nervous FTSE ends higher as EU solution for Greece looms July 21, 2011 FINANCIALS drove gains on Britain’s top share index yesterday, as hopes a solution could be found to Europe’s sovereign debt crisis boosted investor sentiment. The UK’s benchmark index closed up 46.07 points or 0.8 per cent at 5,899.89, having endured a choppy session, trading in a 137 point range as nervous investors jostled positions awaiting [...]
US debt discussion boosts Wall Street July 21, 2011 US stocks climbed yesterday as signs of progress on the US debt talks and concrete action from Europe on its own debt crisis heartened investors. Unexpectedly robust earnings results from Morgan Stanley, whose shares rose 11 per cent to $24.20, extended a relief rally in bank stocks after Goldman Sachs’ dismal trading profits stunned the [...]
Soaring tech stocks burnish banking rally to send FTSE up July 20, 2011 BANKING stocks led Britain’s top shares higher yesterday on strong corporate earnings and optimism over a deal in Washington to increase the US debt ceiling and avoid default. The UK benchmark index closed up 63.83 points, or 1.1 per cent, at 5,853.82, building on the previous session’s 0.7 per cent advance. Solid US earnings, including [...]
US shares pause on budget worries July 20, 2011 US stocks closed near unchanged yesterday, a day after Wall Street’s best rally since March, as the oncoming debt ceiling deadline overshadowed strong earnings from Apple. Apple hit another all-time high one day after the maker of the iPhone and iPad reported quarterly revenues that far exceeded expectations. The stock jumped 2.7 per cent to [...]
The market philosophy of Italy’s go-to fund manager July 20, 2011 FOR someone who runs a multi-million euro international investment group, Robert Tomei is a laid-back and affable man to sit down and talk to in the Connaught Hotel bar. Tomei’s Milan based international investment company has over €1bn of assets under management. As the group chairman, Tomei is responsible for the approval of every group [...]
Companies face forex risk on euro July 20, 2011 THE UK has a long history of having an outward looking economy and an ever-increasing number of companies are looking to garner profits abroad. But added to the regulatory and logistical problems of trading overseas, changes to the value of currencies can warp balance sheets. The volatility of the ongoing Eurozone crisis could present a [...]
Banks’ bounce aids uptick in the FTSE July 19, 2011 A rally by recently beaten-down banks and commodity issues hauled Britain’s top share index higher yesterday, although many traders doubted whether the gains could hold. “Dead cats are proving pretty elastic … It is most likely that any hedge funds shorting stocks over the [banks] stress tests are back in and buying to cover their [...]
Strong results bolster Wall Street stocks July 19, 2011 WALL Street rebounded yesterday, bolstered by strong corporate results and renewed hope for an agreement in Washington that would avert a default on US debt. The Dow Jones industrial average was up 210.10 points, or 1.70 per cent, at 12,595.26. The Standard & Poor’s 500 Index was up 21.38 points, or 1.64 per cent, at [...]
The cloud of debt that is hanging over the US July 19, 2011 WHILE the European debt crisis rumbles on, there is also a storm brewing across the Atlantic. As European finance ministers squabble, the GOP and Democrats are locked in a battle of their own. This row has fuelled uncertainty from investors as to America’s ability to address its enormous debt burden. But if they are to [...]
