Editor's Picks
London pre-open: Eurozone let-down to depress shares
Wednesday 17 Aug 2011
London's equity market is set to give its thumbs down to the outcome of yesterday's meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy.
SABMiller goes hostile in bid for Foster's
Wednesday 17 Aug 2011
Brewing giant SABMiller has gone hostile with its bid for Foster's, after the Australian brewer's directors showed no interest in discussing a takeover. SABMiller is offering A$4.90 per Foster's share, though the offer price will be reduced by an amount equivalent to any dividend or distribution paid by Foster's subsequent to the bid announcement.
Hikma to distribute iron deficiency treatment
Wednesday 17 Aug 2011
Drugs developer Hikma Pharmaceuticals is to market Ferinject, Vifor Pharma's treatment for iron deficiency, in the Middle East and North African (MENA) region.
FX round-up: Scramble for safe havens hits euro
Wednesday 17 Aug 2011
The euro fell on Tuesday as investors scrambled for safe haven assets after a meeting between French and German leaders failed to sooth nerves about the euro zone debt crisis.
Commodities: Growth concern chips away at crude prices
Wednesday 17 Aug 2011
Persistent concern about the strength of the global economy drove crude oil prices lower on Tuesday.
Pearson gets cash windfall
Wednesday 17 Aug 2011
Educational publisher Pearson is to receive a belated cash windfall from the sale of its Government Solutions business back in 2006. Pearson sold the business to Veritas Capital in December 2006 but retained an equity stake in it.
Wednesday newspaper round-up: King concerns, consumer caution, Asda
Wednesday 17 Aug 2011
Sir Mervyn King signalled that he is far more alarmed about turmoil in the euro area than about rising prices, as he brushed aside another breach of the Bank of England’s inflation target. Raising concerns about “severe stress and dislocation” in financial markets, Sir Mervyn said the big risks facing the economy all stemmed from overseas and that the Bank had limited scope to respond to them,
US close: US markets catch European cold
Tuesday 16 Aug 2011
The bears regained the upper hand in US markets on Wednesday as concerns over the Eurozone area's debt problems continued to weigh on investors' minds. The outcome of today's meeting between German chancellor Angela Merkel and French president Nicolas Sarkozy disappointed the market, particularly the proposed tax on financial transactions, which sent bourse operators lower.
London close: FTSE 100 rallies to close with gains
Tuesday 16 Aug 2011
The FTSE 100 found strength as the day progressed, helped by some economic data from the US, and managed to finish with gains.
Fitch says US is still AAA
Tuesday 16 Aug 2011
The Fitch ratings agency has confirmed the USA's AAA credit rating but warned this could change if politicians don't push through dramatic spending cuts. The vote of confidence in the USA comes a week and a half after its rival Standard & Poor's cut the country's credit-worthiness for the first time in history.
Sage confirms MYOB bid speculation
Tuesday 16 Aug 2011
Accountancy software firm Sage has confirmed that it is considering acquiring Australian peer MYOB.
'The book' is not dead, says Quarto as profits jump 21%
Tuesday 16 Aug 2011
London-based book publisher Quarto saw shares fall lower on Tuesday despite recording a 21% rise in half-year pre-tax profit on sales that rose 5%.
US pre-open: Stocks to fall back, Walmart and Home Depot lift profit
Tuesday 16 Aug 2011
Stocks are expected to fall as weak German growth stokes global economic fears, though some better than expected housing data should lessen the blow.
Premium broker snap: Euro exit to boost Wincanton, says Charles Stanley
Tuesday 16 Aug 2011
Charles Stanley has upgraded its rating on distribution group Wincanton from hold to buy, saying that the sale of its remaining operations in Europe to German rival Rhenus could act as a catalyst for a turnaround.
London midday: Stocks fall back amid economic worries
Tuesday 16 Aug 2011
Stocks are firmly in the red as investors digest some sobering economic data both at home and abroad.
UK inflation rises to 4.4%: Governor gets out quill
Tuesday 16 Aug 2011
The benchmark inflation rate looks set to hit 5% later this year after resuming its upward march in July. The Consumer Prices Index (CPI) rose 4.4% in the year to July, up from 4.2% in the 12 months to June, data from the Office for National Statistics (ONS) showed. However, between June and July prices remained static.
UK inflation rises to 4.4%: Governor gets out quill
Tuesday 16 Aug 2011
The benchmark inflation rate looks set to hit 5% later this year after resuming its upward march in July.
US newspaper round-up: Google, Verizon, Mortgages...
Tuesday 16 Aug 2011
Already under investigation by regulators in the U.S. and Europe, Google likely will have to quell a couple of tricky antitrust questions as part of completing the $12.5 billion acquisition of Motorola Mobility, antitrust experts say. One set of challenges could come from the top makers of Google Android smartphones, most of whom issued perfunctory statements welcoming the deal. Industry experts
Eurozone growth slows sharply
Tuesday 16 Aug 2011
The Eurozone economy grew by a paltry 0.2% in the second quarter compared with the previous three month period amid a sharp slowdown in growth in the trading bloc’s economic powerhouse Germany. The growth rate is a sharp slowdown from the 0.8% expansion seen in the first quarter. The data was released after figures earlier this morning showed that German growth was just 0.1% in the second quarter.
Asia: Mixed showing after recent gains
Tuesday 16 Aug 2011
Japanese stocks kept the revival going on Tuesday, though barely, while Hong Kong stocks gave back some of yesterday's strong gains.
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