Editor's Picks
House prices rose 2.8% last month
Monday 19 Oct 2009
Asking prices for homes in Britain rose by 2.8%, the largest rise seen during October in 6 years, according to property website Rightmove.
FSA to outlaw self-certification mortgages
Monday 19 Oct 2009
Self-certification mortgages are for the scrap-heap, the Financial Services Authority said, as it proposed a shake-up of mortgage regulations that would make affordability tests mandatory. The onus of verifying affordability ultimately rests with the lender, the FSA said. The City weatchdog has stopped short, however, of putting loan-to-income or loan-to value caps on mortage deals.
Momentum strategy tweak rewards followers
Friday 16 Oct 2009
With all the fuss over the recent stock market rally, it’s probably a good time to have another look at a strategy that’s shown some good form in the past - momentum.
National Express confirms Stagecoach merger proposal
Friday 16 Oct 2009
National Express has confirmed it is considering a possible merger proposal from rival bus and train group Stagecoach but is also pressing ahead with its plans for an equity issue to relieve its debt burden. Stagecoach also confirmed the talks, though it said it was at the invitation of National Express that it submitted a letter indicating the terms of a possible merger.
Mixed bag so far for US banks
Friday 16 Oct 2009
It was a mixed bag for US banks this week amid a whirlwind of financial results.
Better times on the cards for Clinton
Friday 16 Oct 2009
Latest sales figures from Clinton Cards were well received by the market, with the shares soaring by 20%, but the firm's prospects are still far from clear.
Google lifts profits, sees improvement
Friday 16 Oct 2009
Internet search giant Google posted a rise in revenues and profits in the third quarter and said it was confident of further growth having seemingly weathered the worst of the downturn.
CVC consortium drops National Express bid
Friday 16 Oct 2009
The consortium stalking National Express has dropped its interest in making a bid for the bus and train group, which is now considering a sizeable rights issue to help repair its balance sheet. A put up or shut up order from the Takeover Panel had meant private equity group CVC Capital Partners and largest shareholder the Cosmen family had until 5pm today to firm up their £765m offer
Dow consolidates above 10,000, Google impresses
Thursday 15 Oct 2009
Dow Jones rallied late in the day to close well clear of the 10,000 mark and post a new high for the year on hopes for a strong third quarter results season. The blue chip index rose 47 to 10,062. After hours, online search engine Google added to the momentum as its numbers comfortably beat market forecasts to follow another bumper quarter from Goldman Sachs
Lloyds in talks to sell private client assets to Rathbone
Thursday 15 Oct 2009
Lloyds Banking Group today confirmed it is in talks to sell some non core private client discretionary investment management activities to Rathbone Brothers.
WH Smith profits climb
Thursday 15 Oct 2009
Newsagent chain WH Smith announces full year results that saw profit before tax climb by 8% despite a drop in sales.
Xstrata walks away from Anglo bid
Thursday 15 Oct 2009
Miner Xstrata said today that it has no intention of making an offer for rival Anglo American. The announcement came after a put-up or shut-up ruling following an appeal by Anglo to the Takeover Panel over the disruption to its business caused by the interest from Xstrata. Earlier this month, Xstrata had been given a deadline of 5.00pm on 20 October
Goldman staff deserve slice of the pie
Wednesday 14 Oct 2009
Goldman Sachs made a profit of $3.2bn in the third quarter less than a year after it received billions of dollars in funds from the US taxpayer to get it through the credit crunch.
Goldman Sachs beats estimates
Wednesday 14 Oct 2009
Goldman Sachs is the second Wall Street bank to beat third quarter expectations this earnings season, more than doubling net profit during the period.
Dow Jones within touching distance of 10,000
Wednesday 14 Oct 2009
The Dow Jones industrial average has racked up a triple digit gain but it has not been quite enough to push it through the 10,000 barrier, much to the disappointment of headline writers. The Dow Jones index is up 109 at 9,980, the broader based S&P 500 index is 12 points better at 1,086 while the NASDAQ Composite is up 22 at 2,162.
First time buyers need £93k salary for London pad
Wednesday 14 Oct 2009
People wanting to buy their first home in London must earn £93,000-a-year, about 3½ times the average, a new report suggests.
Dow Jones targets 10,000
Wednesday 14 Oct 2009
A brace of better than feared quarterly results is expected to send the Dow Jones within a few points of the magic 10,000 level for the first time in over a year. Intel got everyone excited in Europe this morning as a bullish outlook accompanied last night’s forecast-topping third quarter results. JP Morgan Chase also made mincemeat of analysts’ estimates
Jobless benefit claims rise less than expected
Wednesday 14 Oct 2009
The number of people joining the dole queue fell to its lowest level in more than a year in September, suggesting that economic conditions may be improving in the UK.
Bullish Intel sparks rush into equities
Wednesday 14 Oct 2009
Intel has put a smile back on investors’ faces following a nervous start to earnings season, with forecast-busting third quarter numbers overnight. The world’s largest chipmaker reported an 8.3% drop in net income for the three months to $1.9bn, or 33 cents a share, but that easily trumped the 28 cents predicted by analysts. Investors took that as an indication the recovery is well underway
Rio iron ore production at record
Wednesday 14 Oct 2009
Mining giant Rio Tinto set a new record for iron ore production in its third quarter with shipments to China still high despite the row over the arrest and detainment of four employees on spying charges.
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