Bearish US sentiment likely to buffet Europe too January 24, 2010 European stock markets are headed for a major tumble this morning, as a sell-off on US markets gathered steam on Friday evening. GFT is forecasting the UK’s FTSE 100 to open down a hefty 90 points from Friday’s close, around 5,212. The German DAX is expected to open down 105 points at 5,590 and the [...]
Economic Diary January 24, 2010 MARKETS are expecting a bumpy ride this week with a slew of data that could derail momentum. Britons are eagerly awaiting the release of fourth quarter GDP tomorrow, which should show that the UK finally exited recession in the last three months of 2009. The consensus forecast is for output growth of 0.4 per cent. [...]
FTSE hits a one-month low as financial stocks plummet January 21, 2010 ASHARP retreat in miners on sinking metal prices and worry about a tax from Australia and weakness in banks on fears about US curbs pushed Britain’s top share index 1.6 per cent lower by the close on Thursday. The FTSE 100 index ended 85.70 points lower at 5,335.10, its lowest since 22 December. The index [...]
Wall St recoils over Obama bank plans January 21, 2010 US stocks suffered their worst one-day percentage drop since October yesterday as US President Barack Obama proposed tough restrictions on banks that would squeeze profits. Major banks slid, with Goldman Sachs falling 4.1 per cent despite posting stronger-than-expected fourth-quarter results, and JPMorgan Chase shed 6.6 per cent, after Obama proposed limiting how banks invest their [...]
Q&A INSOLVENCY January 21, 2010 Q. I’m thinking of setting up a business, but what would happen if it all went wrong? Will I be declared bankrupt? A.The best way to protect yourself is to set up as a limited company right from the start, says Tim Carter, head of insolvency at law firm Stevens & Bolton. By doing this [...]
Dragon takes to the barricades January 21, 2010 CONTESTANTS on the BBC’s Dragon’s Den dream of getting one of the show’s successful entrepreneurs on board to support their business. They could be in luck. Earlier this week, former Dragon Doug Richard launched the rather grandly titled The Entrepreneurs’ Manifesto and Declaration of Rights. “A spectre is haunting the United Kingdom – the spectre [...]
The billion pound money manager January 21, 2010 LIFE could have been different for Chris Oulton, but in 1982 he answered an advert at the back of the Saturday Telegraph, which offered an “unusual opportunity” to a bright young graduate. He applied and within weeks he had the job and was thrust into the world of commodity trading. He found himself working for [...]
Cadbury deal is first in an M&A boom for 2010 January 20, 2010 KRAFT’S takeover of Cadbury will not change our love of Dairy Milks and Creme Eggs, but it will take time before we start thinking of Cadbury as an American, rather than a British, institution. Before the year is out, though, we might have to get used to other much-loved businesses going the same way. Market-watchers [...]
A DERIVATIVE THAT covers all the bases January 20, 2010 ALEXANDRE HOUPERT HEAD OF LISTED PRODUCTS, NORTHERN EUROPE, SOCIETE GENERALE THERE was a time when people were frightened to enter into investments. The financial crisis meant that many investors took a painful hit, and elected to steer clear of the markets. But 18 months on, and investors are starting to come back. As before, many [...]
The unstoppable rise of exchange-traded funds January 20, 2010 WHEN one of Europe’s largest hedge funds, Marshall Wace, announced earlier this week that it would be launching an exchange-traded fund (ETF) to track its flagship strategy, it was further confirmation that ETFs are entering the mainstream on this side of the Atlantic. In their standard form, ETFs passively track the performance of an underlying [...]
