View the article online at http://citywire.co.uk/new-model-adviser/article/a614877
by Himanshu Singh on Sep 01, 2012 at 06:01
Top stories
- Daily Mail: Ben Bernanke has warned that the United States faces ?daunting economic challenges? and paved the way for another round of emergency aid to bolster growth.
- The Daily Telegraph: US stock markets rose on Friday after Ben Bernanke signalled he would be willing to inject fresh stimulus into the US economy, even though he failed to provide the specifics some had hoped for.
- Daily Express (Comment): Ben Bernanke?s speech yesterday in the Wyoming mountains may not have scaled the heights of dramatic intervention rhetoric but the Federal Reserve chairman?s clear message is that the buying of government bonds ? quantitative easing ? is effective and it will be used when necessary.
- The Daly Telegraph (Comment): There were quite a few interesting speeches at the Jackson Hole conference but Ben Bernanke's wasn't one of them.
- Financial Times (Lex): Fed chairman?s annual address can be good reminder for investors that even elite policy makers often have little clue about the state of the world.
- The Independent: Barclays has made as much as half a billion pounds in two years from speculating on food staples such as wheat and soya, prompting allegations that banks are profiting handsomely from the global food crisis.
- The Daily Telegraph: Complaints by Barclays customers have soared due to a near four-fold increase related to the mis-selling of insurance products, the bank said on Friday.
- Financial Times: Switzerland?s attorney general has opened a criminal investigation into UBS, following a complaint that a Malaysian politician had used accounts at the Swiss bank to launder money.
- Daily Mail: House prices in UK jumped 1.3% to post the biggest monthly increase in more than two-and-half years in August, according to the latest Nationwide report.
- The Guardian: Facebook's share price reached a low of $18.03 on Friday before ending at $18.08, down 5.28% for the day, as analysts worried the social network's insiders may be preparing to sell yet more stock.
- The Independent: Eurozone jobless goes past 18 million for the first time as the unemployment rate hit a record 11.3% in July.
Business and economics
- Daily Mail: Customers who have basic bank accounts with Lloyds TSB and RBS are being wrongly penalised by not being able to use rival or third party cash machines, a Treasury Select Committee report says.
- The Guardian: General Motors is stopping production for a week at the Vauxhall plants in Ellesmere Port and Luton after warning that the eurozone crisis has hit car purchases on the continent.
- The Daily Telegraph: Total sparked confusion over plans for Russia's giant Shtokman Arctic gas field, denying the project, in which the French company has a stake, had been delayed indefinitely.
- The Daily Telegraph: Darty is facing a shareholder rebellion following the embarrassing admission of an 'error' in its disclosure of its chief executive's pay.
- Financial Times: Global investors hungry for higher-yielding assets are flooding into US mutual and exchange traded funds that bet on riskier debt, pushing flow volumes so far this year to their highest on record.
- The Guardian: Unrest among South African miners has spread to the world's fourth biggest gold mine; Gold Fields says quarter of its 46,000 workers walked out after violent protest at Lonmin platinum mine.
- The Independent: The Paris-based family-controlled brand Herm?s saw double-digit increases in sales and profits across most markets in the first six months of the year; first-half sales hit ?1.6 billion, up 22%.
- The Guardian: Spain will inject emergency capital into the country's biggest ailing bank, Bankia, as it puts into place reforms to allow loss-making banks to receive eurozone bailout money.
- The Independent: Apple and four major publishers are believed to have offered to allow retailers such as Amazon to sell e-books at a discount for two years in an attempt to end an EU antitrust investigation and stave off possible fines.
- Daily Mail: According to the new Financial Service Authority regulation, all UK authorised banks, building societies and credit unions will be obliged to tell customers their savings and deposits are protected by the Financial Services Compensation Scheme - if they are members of the scheme.
- Financial Times: Simon Fox left HMV on Friday after six years at the struggling high-street music retailer.
- The Daily Telegraph: The Irish health minister warned that the Irish coalition government may be forced to cut public sector wages if spending targets under its EU bailout are to be met.
- The Independent: Royal Bank of Scotland's Irish unit expects its costs from a chaotic computer failure to grow by tens of millions of euros beyond the ?35 million already set aside, the chief executive, Jim Brown, said yesterday.
- Daily Express: The online gaming group, Bwin.party Digital Entertainment, said strong takings from casino and sport betting helped it boost first-half profits by 13% to ?73.1 million, slightly above market hopes.
- Daily Express: A new LEGO set targeted at girls has boosted the toymaker?s first-half profits by 35%; profit rose to ?212.5 million from ?157.3 million in the same period last year.
- Daily Express: Profits at The Restaurant Group in the 26 weeks to 1 July rose 7% to ?26.1 million on a 7.5% increase in revenue to ?252 million.
- The Daily Telegraph: The chief executive of discount chain Poundstretcher is to stand down after just three months in the role.
- The Daily Telegraph: The luxury clothing retailer Aquascutum is looking to return to its historic home in London?s West End ? just a year after leaving Regent Street, its base since 1851.
- The Daily Telegraph: Pressure is mounting on the European Central Bank to water down emergency measures to prop up Spain and Italy, after reports that the chief of Germany's Bundesbank threatened to quit in protest at the plan.
- Financial Times: Ulster Bank customers affected by a month-long computer systems failure have been offered a compensation payment of ?25, under package expected to cost the bank ?35 million in total.
- Financial Times: Goldenport has cut its interim dividend and put its full-year payout under review following six months that ?turned out to be one of the most challenging periods for the shipping industry?.
- Financial Times: Iliad, the mobile phone upstart whose Free service has shaken up the French market, said on Friday it had attracted 3.6 million mobile phone subscribers since the January launch of its wireless operation, amounting to 5.4% of the market.
Share tips, comment and bids
- Financial Times: China?s Shandong Heavy Industry Group is spending ?738m to take a stake in Kion, the German forklift truckmaker, in the biggest Chinese direct investment in a company in the eurozone?s largest economy.
- Financial Times: A week after Samsung lost its US smartphone patent case, a judge in Tokyo rejected a separate attempt by Apple to assert its intellectual property against the South Korean group in Japan.
- The Guardian: Pressure was growing on senior board members of Xstrata on Friday after a leading shareholder Knight Vinke promised to force them out if the miner's proposed merger with Glencore failed to go ahead next week.
- Daily Mail: The chairman of Redrow, Steve Morgan, has launched a ?560 million bid to win back control of the housebuilder he founded in the 1970s.
- Financial Times: AMR, the bankrupt parent of American Airlines, took a step closer to a potential merger with US Airways on Friday when the two signed a confidentiality agreement as part of talks about a ?potential combination?.
- Daily Mail (Comment): The patent war between Apple and Samsung is the tip of an iceberg. First blood was drawn by Apple in the American courts. Now the South Korean company has scored a significant victory in Tokyo.
- Financial Times (Lex): Gas groups face same unhappy landing as Facebook investors, after boom gives way to slump in prices and substantial writedowns.
- Financial Times (Lex): Lego: toymaker?s earnings leap by one third with first-half sales of $1.5 billion, the equivalent of 12 billion Lego bricks ? six for every child on the planet.
More about this article:
What others are saying
Archive
timothy leary jonathan frid pujols watchmen hitch justin beiber lamar odom
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.