Editor's Picks
Norwegian joins Rolls-Royce's customer list
Wednesday 06 Apr 2011
The airline Norwegian has ordered its first set of engines from Rolls-Royce, the engine designer. Norwegian has selected Rolls-Royce’s Trent 1000 engines to power nine Boeing 787 Dreamliner aircraft. Meanwhile, Rolls-Royce and Daimler said the acceptance period for its offer for Tognum AG has begun.
US close: Fed officials ponder stimulus removal
Tuesday 05 Apr 2011
US stocks gave up gains after minutes from the latest Federal Reserve meeting showed the removal of stimulus measures could be on the cards. Minutes from the meeting indicate that some officials now believe the world’s biggest economy should draw a line under the quantitative easing measures that were implemented in response to the 2008-09 global financial crisis.
British Airways adds £10 to longhaul fuel surcharge
Tuesday 05 Apr 2011
High oil prices have forced British Airways to increase the fuel surcharge on long-haul flights, the airlines owner International Consolidated Airlines (IAG) said today.
Broker snap: Cautious margin outlook at Vodafone
Tuesday 05 Apr 2011
Nomura slightly reduces its target price for telecoms titan Vodafone as consensus aligns to a more cautious margin outlook.
Broker snap: Cautious margin outlook at Vodafone
Tuesday 05 Apr 2011
Nomura slightly reduces its target price for telecoms titan Vodafone as consensus aligns to a more cautious margin outlook.
Broker snap: ECB rate hike a mistake, says Charles Stanley
Tuesday 05 Apr 2011
Charles Stanley thinks that a European Central Bank (ECB) rate hike at this point in time – with an uncertain sovereign debt outlook across the continent – would be a “gigantic policy mistake”.
China raises interest rates by 25 basis points
Tuesday 05 Apr 2011
The central bank of the People’s Republic of China has just announced the fourth increase in interest rates since the beginning of the global financial crisis.
Portuguese banks pressure government for short-term loan
Tuesday 05 Apr 2011
According to Portuguese business daily Jornal de Negocios the heads of the country’s biggest banks met the governor of the central bank on Monday, recommending to him that the country secure short-term financing.
Commodities: Crude steams past $108
Tuesday 05 Apr 2011
Crude oil futures struck a 2½ year high on Monday as Libya forces continue to wage fierce battle for key oil cities.
Enquest confident despite tax hike
Tuesday 05 Apr 2011
UK-focused oil and gas group Enquest said it was “very disappointed” with the government’s decision to increase taxes on North Sea oil firms, though it remains confident of delivering on its 2011 targets.
Amlin sees disaster losses of up to £275m
Tuesday 05 Apr 2011
The recent natural disasters in New Zealand, Japan and Australia could result in Amlin facing claims of as much as £275m, according to estimates released by the underwriter. Amlin estimates that the second earthquake in New Zealand will result in it facing claims of £110m, while claims resulting from the earthquake and tsunami in Japan are likely to come in at between £80m and £150m.
Morgan Stanley says: Buy Ireland
Monday 04 Apr 2011
In a note published this afternoon, titled ‘Ireland – Time to Buy’, MorganStanley’s Chief European Economist Elga Bartsch’s team reaches the following conclusions: “Investment conclusion: We recommend investors buy Irish sovereign risk, with a preference for longer-dated cash government bonds. What’s new: We view the Irish bank stress test results released last week as credible and
CIPS cautions on construction outlook
Monday 04 Apr 2011
March data signalled a strong expansion of activity in the UK construction sector, with the seasonally adjusted Markit/CIPS Construction Purchasing Managers’ Index (PMI) coming in at 56.4.
Monday newspaper round-up: BP, interest rates, Vodafone
Monday 04 Apr 2011
Four Russian oligarchs will make a renewed attempt to block BP’s proposed $16bn (£10bn) share-swap deal with Rosneft on Monday, claiming it contravenes an existing shareholder agreement. The billionaires, who operate as Alfa-Access-Renova – Mikhail Fridman, Len Blavatnik, Viktor Vekselberg and German Khan – form the other half of the UK oil giant’s current Russian joint-venture TNK-BP, reports
Innovation Group wins Tesco car sale gig
Monday 04 Apr 2011
Innovation Group, which provides business process outsourcing and software to insurance, car and property industries has been selected by Tesco to assist with the supermarket giant’s new online car sales service.
Aggreko wins Japan power supply contract
Monday 04 Apr 2011
Temporary power supplier Aggreko is to help Japan keep its electricity supply up and running after last month’s devastating earthquake.
Cranswick sees FY broadly in line with views
Monday 04 Apr 2011
East Yorkshire-based pork supplier Cranswick said results for the year to 31 March 2011 will be broadly in line with expectations.
BP cans its ARCO Aluminium stake
Monday 04 Apr 2011
Oil giant BP is to sell its wholly owned subsidiary ARCO Aluminium to a consortium of Japanese companies. The consortium, comprised of Sumitomo Light Metal Industries (40%), Furukawa Sky Aluminum (35%), Sumitomo Corporation (20%), Itochu Corporation (2%), and Itochu Metals Corporation (3%), is paying $680m in cash for ARCO, subject to closing adjustments.
Sunday tips round-up: Compass, CPP, Firestone Diamonds
Sunday 03 Apr 2011
The Mail on Sundays says it could be time for cautious investors to get out of CPP, the identity theft and credit card insurer that saw its share price fall by two-fifths last week after the Financial Services Authority (FSA) said it was investigating the company. The FSA is looking into the way CPP sells card and identity protection products by phone. CPP has decided to suspend all new sales of
NASDAQ OMX and ICE launch bid for NYSE
Sunday 03 Apr 2011
Bourse owners NASDAQ OMX and Intercontinental Exchange (ICE) have gatecrashed Deutsche Boerse’s agreed bid for stock exchange operator NYSE Euronext.
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