THE LONDON REPORT November 25, 2009 A flurry of US economic data and a rebound in metals prices helped push Britain’s top share index to a higher close yesterday, with Compass Group topping the blue-chip gainers list after results. The FTSE 100 ended up 40.85 points, or 0.8 per cent at 5,364.81, following a 0.6 per cent decline on Tuesday. Miners [...]
THE NEW YORK REPORT November 25, 2009 Stocks rose in light trading volume yestesrday, supported by data that pointed to stabilisation in the labour and housing markets, areas that have fed concerns about a “double dip” recession. Trading volume was among the lightest of the year one day before the Thanksgiving holiday, with many senior traders absent from trading floors. Even so, [...]
Take a punt on how much further British banking stocks can rise November 25, 2009 THE Bank of England’s secret deal which saw it lend ailing Royal Bank of Scotland and HBOS an astonishing £61.6bn last October was a timely reminder of just how bad the situation was this time last year. The global financial system was struggling to rebalance itself and many banks had either collapsed entirely or been [...]
THE TIPSTER November 25, 2009 THANKSGIVING in the US means that the American markets are closed and traders are expecting a quiet day ahead. But that doesn’t mean spread betters should be ignoring the markets. There is plenty of scope for traders to start pulling money off the table to minimise risk. Nonetheless, the Dow index has had a huge [...]
MINING AND OIL POPULAR SECTORS November 25, 2009 ALEXANDRE HOUPERTHEAD OF LISTED PRODUCTS UK, SG CORPORATE & INVESTMENT BANKING IN THE current market climate, investors might be afraid of choosing single stocks and exposing themselves to all the risk that cherry picking entails. Instead, they are increasingly choosing to take out a position on a sector in order to spread the risk. We’ve [...]
Downturn will be the golden age for the CFO November 25, 2009 THE current worldwide downturn is shining a spotlight on the role of the modern chief financial officer (CFO). Companies are now placing far greater reliance on the CFO’s advice and understanding than they have done in the past. Finance leaders and their teams are now seen as a valuable resource to guide companies through the [...]
Negotiation is the only way to resolve pension scheme trouble November 25, 2009 BAKER TILLYBRUCE MACKAY FOR all but a lucky few, final salary pension provision is rapidly becoming a thing of the past. Already in inexorable decline as companies struggled to manage the escalating costs of gold-plated pension schemes, the recent challenging economic environment has accelerated fund closure, and not just for new members but to all [...]
Pre-budget tax rises are likely to hit City workers November 24, 2009 WE HAVE all become accustomed to woe-filled stories about the economy. Last week’s headlines included news of a budget deficit of over £11bn for the month, or £87bn in the fiscal year to date. Attempts to bridge the gap through better enforcement of existing tax laws may not be helping – rumours suggest that HM [...]
ANTI-BRIBERY RULES TO GET EVEN TOUGHER November 24, 2009 TOM EPPSPARTNER, RUSSELL JONES & WALKER BEFORElast week, some might have suspected the wave of criminal investigations into corporate corruption over the last 12 months was a blip. The inclusion of the Bribery Bill in the Queen’s Speech, however, should convince everybody that such investigations are here to stay. The bill, which is understood to [...]
The FSA must make sure that its tough new approach doesn’t backfire November 24, 2009 FINANCIAL services firms have come under the increasingly intense gaze of the Financial Services Authority (FSA) in recent months. Its supervisory approach has changed dramatically as a result of the credit crisis. The upshot of this is that the risks for somebody who is FSA authorised, or is an “approved person” at an FSA authorised [...]
