Hermes in 52 per cent profit jump

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first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tuesday 31 August 2010 2:56 am whatsapp Share French luxury goods group Hermes has posted a 52 per cent rise in first-half operating profit, boosted by leather goods, and slightly raised its financial targets for the full year.Profit rose to 304.5m euros (£250.6m) in the first six months of the year from 199.8m euros a year ago, Hermes said.Net profit rose 55 per cent to 195 million euros.Hermes, known for its printed silks and 10,000 euros leather handbags, said it expected its full-year operating margin to improve by at least one percentage point, whilst sales at constant exchange rates could rise 12 per cent.Hermes last month raised its full-year sales growth target to 10 to 12 per cent from five per cent after second-quarter sales beat its own expectations and predicted a one point rise in its margin.The luxury goods industry, whose revenues fell eight per cent last year according to US consultants Bain & Co, is crawling out of its worst downturn in decades, buoyed by travelling shoppers from emerging markets. center_img John Dunne Show Comments ▼ whatsapp Hermes in 52 per cent profit jump Tags: NULLlast_img read more

Chote promises fiscal forecaster will be independent after Budd controversy

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first_img Share ROBERT Chote, the new chair of the Office for Budget Responsibility (OBR), yesterday said he would not rush out data to provide political ammunition for the government, in a thinly-veiled criticism of his predecessor Sir Alan Budd. Chote insisted that the OBR would be “transparent and predictable” in the future, adding “that means predictability about what we’re intending to produce and when we’re intending to produce it”.He was referring to Sir Alan’s decision to leak the OBR’s unemployment forecasts in June, allowing David Cameron to use the figures as ammunition in a highly-charged session of Prime Minister’s questions.The episode lead to accusations of bias in the OBR, which was created by George Osborne to provide economic forecasts that are free of political interference. Sir Alan has since apologised, saying he “enormously regrets” the effect the leak had on the OBR’s reputation. Chote, who will leave his post as director of the IFS before joining the OBR, was speaking at a session of the influential Treasury select committee (TSC), which confirmed his appointment as the permanent chair of the forecast watchdog. Andrew Tyrie, chairman of the TSC, said: “He is very well qualified professionally for the post, having demonstrated his independence of mind.”Labour MP and TSC member Chuka Umunna also welcomed the appointment. “He was the obvious appointment: well-qualified and respected across the economic community. Above all, he will bring much-needed independence to the role,” he said. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Thursday 16 September 2010 8:49 pm KCS-content Show Comments ▼center_img whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Tags: NULL Chote promises fiscal forecaster will be independent after Budd controversy whatsapplast_img read more

BETFAIR FOUNDER MULLS PUTTING HIS WINDFALL MILLIONS TO STUD

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first_img NEWS that Betfair’s founders Ed Wray and Andrew Black are set to net a potential windfall of £17m apiece from cashing in a tenth of their combined 22.5 per cent stake at the company’s IPO got The Capitalist to thinking yesterday – how might they put that money to good use?In Black’s case, at least, a few ideas spring to mind. Currently a non-executive director at the company, Black’s intention to retire from the board next month was buried in among the small details of Betfair’s statement yesterday. While several reasons have been mooted for his decision (cold feet about the float’s chances of success, perhaps?), The Capitalist reckons Black may well just fancy a bit more free time to concentrate on his other passion in life – horseracing. Alongside his interests in Betfair, Black – who’s known to friends as “Bert” – co-owns a racehorse training stables in Cheshire with footballer Michael Owen, and he’s also currently in the middle of trying to build up a 300-acre stud farm in Surrey.The former, Manor House Stables, has big plans to become the “most successful flat training yard in the country”, according to its website – with work on the next phase of development (a horse swimming pool, veterinary centre and additional barns) well underway. With that, plus the stud farm – where Black earlier this month moved back into his family farmhouse after an extensive year-long refurbishment – a handy £17m could probably go a long way indeed.DADDY COOLWarren Buffett has street cred. That’s not something that can often be said of a financier, no matter how successful (actually, usually the opposite rule applies), but it’s official.Stateside, the blogosphere is alight with talk of a dinner last week between Buffett and hip-hopper Jay-Z, which was apparently organised by Forbes magazine in advance of its publication of the world’s 400 richest people (no, we’re not sure why either).The visit to Omaha is said to have included a visit to the HQ of Buffett’s Berkshire Hathaway and a trip to the local Hollywood Diner, and it’s certainly impressed Jay-Z’s army of fans.“I just can’t say how proud and honoured I am as being a hustler myself and seeing are [sic] role model up there,” shouts one on a fan website, Jay-zJournal.com. “This is so BIG! There is no limit for Jay…”ART ATTACKBusy times for collectors of Lehman memorabilia, with two separate auctions of the failed bank’s corporate art collection scheduled for the next week or so.First up is an auction of 160 works at Sotheby’s in New York this Saturday, where pieces by the likes of Damien Hirst, Andy Warhol, John Baldessari and Richard Prince are up for grabs, as well as a painting by Julie Mehretu, who was recently commissioned by Goldman to paint a mural for its new headquarters in Manhattan.A Christie’s auction in London follows on Wednesday next week, where lots include the plaques and signs which adorned Lehman’s walls before its demise.The proceeds of both are set to go to creditors, though the expected hauls of $10m and £2m respectively aren’t likely to make much of a dent in the hundreds of billions still owing.NOTE OF CAUTIONAn unprecedented level of honesty in the corporate world, courtesy of property investment group New Europe Property Investments (NEPI). The Capitalist was yesterday somewhat bemused to be confronted with an RNS statement from the firm entitled “Cautionary Announcement”.In fact, NEPI’s caution turned out to be on behalf of shareholders, who the company warned of its intention to undertake a €40m rights issue to fund potential acquisitions.“If successfully concluded, the negotiations may have a material effect on the price of NEPI’s securities,” it continued, without a hint of the usual lengthy spiel extolling the virtues of the management’s strategic vision. “Accordingly, shareholders of the company are advised to exercise caution when dealing in NEPI’s securities until a further announcement is made…”THREE PEAKSCongratulations to the intrepid team from Deloitte, led by Janice Wong, who at the weekend took first place in the annual CARE 3 Peaks Challenge, in association with City A.M.Deloitte joined six other City teams to scale the three highest peaks in the UK – Ben Nevis, Scafell Pike and Snowdon – in one day and night, raising £40,000 to support the charity’s work helping poverty-stricken people around the world.FLYING HIGHLuxury hotel group Von Essen yesterday launched its latest property in London – Hotel Verta, which is located on the Thames at Battersea and boasts something of an unusual accolade – it’s the only hotel in Europe adjoined to a heliport. More proof that the good times are finally making a comeback. Show Comments ▼ Tags: NULL Share BETFAIR FOUNDER MULLS PUTTING HIS WINDFALL MILLIONS TO STUD whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comcenter_img whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tuesday 21 September 2010 8:21 pm KCS-content last_img read more

SCOTTISH & SOUTHERN GIVES NISSAN ENERGY

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first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof Wednesday 22 September 2010 7:40 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp Sharecenter_img SCOTTISH and Southern Energy, headed by chief executive Ian Marchant, yesterday agreed a contract with Nissan to provide the carmaker with its own electricity network. Nissan is investing over £200m in building an electric car battery factory at its Turbine Business Park in Sunderland, and will need a network so customers can re-charge their cars. whatsapp KCS-content SCOTTISH & SOUTHERN GIVES NISSAN ENERGY Tags: NULLlast_img read more

Dividend growth could hit 22 per cent

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first_img whatsapp Sunday 3 October 2010 10:13 pm KCS-content Dividend growth could hit 22 per cent THE UK is likely to experience double-digit dividend growth in 2011 according to a top fund manager.Tineke Frikkee, manager of the Newton Higher Income Fund says she is optimistic about the outlook for growth next year after three consecutive years of declining dividend income.She says the UK is likely to see between eight and 22 per cent market dividend growth.Frikkee says the growth will be driven by two main factors: movement in the US dollar/sterling exchange rate next year and BP’s dividend decision in early 2011.She said: “Should BP reinstate its dividend at the consensus level of $0.105 per quarter, then 2011 market dividend growth is likely to be around 14 per cent.“We believe that the company can afford this, and it would bring its dividend yield slightly higher than that of Royal Dutch Shell.“If BP reinstates its 2011 dividend at the previous level of $0.14 per quarter then market dividend growth of around 18 per cent could be achieved.”She also says that, as more than 40 per cent of UK dividends are declared in US dollars, any further weakening in sterling would push the dividend level even higher. Share Show Comments ▼ More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Tags: NULL whatsapplast_img read more

Duncan Smith unveils shake up of welfare

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first_imgThursday 11 November 2010 8:27 pm BRITAIN’S?welfare system is to undergo the most dramatic shake-up since its inception in 1942, after the government unveiled plans to crack down on the workshy and make sure that everyone is always better off in a job. The plans are designed to simplify the complex web of benefits to reduce errors, fraud and inefficiencies, and to ensure that people in work are better off by letting them keep more of their earnings.It will see separate benefits such as housing benefit, income support or incapacity replaced by a “universal credit” system whereby individual households will get a single welfare payment.The government says the current system often deters unemployed people from going back to work, as they could find themselves worse off after losing many of their state benefits.Work and pensions secretary Iain Duncan Smith said it was estimated the measures, which will be introduced from 2012-3 and brought in over the following five years, would mean 700,000 low-earning workers would be better off.Some 2.5m households would get higher entitlements through the universal credit and 350,000 children and 500,000 adults would be lifted out of poverty, he said.The system will also come with tougher sanctions.Anyone on benefit who turns down a job, fails to apply for work when asked to do so or does not complete a four-week community work scheme will initially lose their £65-a-week benefit for three months.A second offence will result in six months’ exclusion and a third will see that increase to three years.“Almost 1.5m people have been out of work and on benefits for nine of the last 10 years,” Duncan Smith said. He said the 70 per cent net rise in employment under the previous Labour government was accounted for by immigrant workers. KCS-content whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutioncenter_img Show Comments ▼ Share whatsapp Duncan Smith unveils shake up of welfare last_img read more

Irish to take to the streets as crisis threatens to boil over

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first_imgMonday 22 November 2010 6:38 am Irish to take to the streets as crisis threatens to boil over KCS-content whatsapp Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Show Comments ▼ whatsapp Share Ireland looks set to be hit by waves of civil unrest as the full scale of its financial nightmare begins to sink in.Jack O’Connor, general president of SIPTU, Ireland’s largest labour union believes anger at the government’s handling of the crisis coupled with severe austerity cuts will drive the Irish to the streets.He said: “I think we’re close to the tipping point. The kind of policies that have been pursued to date, which have been seen to fail, will not work. There will be a reaction to those kind of policies.”Trade unions, student groups and senior citizens are planning the first demonstration in Dublin on Saturday.Eamon Devoy, general secretary of the 40,000-strong Technical Engineering and Electrical Union, added: “A lot of political leaders have been saying that they can’t understand the calm about the Irish citizens at the moment, but I think it’s the calm before the storm.”Next week the government will issue its four-year plan for cutting the worst budget deficit in the Eurozone, with a target of €15bn in savings by 2014. last_img read more

Wall Street starts to stall after rally

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first_img KCS-content Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution Wednesday 2 February 2011 7:26 pm whatsapp whatsappcenter_img Tags: NULL Wall Street starts to stall after rally Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org US stocks lagged yesterday as technical measures suggested a five-month rally was growing long in the tooth.Investors were reluctant to make big bets even though a report showed US private employers added more jobs than expected in January.The S&P 500 started to look overbought again after reaching two and a half year highs on Tuesday. A key measure of the rally’s strength suggests stocks are vulnerable to a correction, analysts said.The Dow Jones industrial average rose 1.81 points, or 0.02 per cent, at 12,041.97. The Standard & Poor’s 500 Index was down 3.56 points, or 0.27 per cent, at 1,304.03. The Nasdaq Composite Index was down 1.63 points, or 0.06 per cent, at 2,749.56.Investors yesterday kept an eye on protests in Egypt as violent street clashes erupted. Concerns that protests could spread to other countries in the region have pressured equities in recent sessions.The Market Vectors Egypt Index ETF, which consists of shares of companies in Egypt, fell 3.7 per cent after rising for two consecutive days.Joseph Hargett, a strategist at Schaeffer’s Investment Research, said the Dow needs to stay above 12,000 firmly as a show of short-term support. “The resistance now resides in the 12,100 – 12,200 area.”After a pullback late last week, the S&P 500 has started to look overbought by some measures. The index is more than one standard deviation above its 50-day moving average and the weekly relative strength index is above 70.Trading volumes were not seriously affected by a harsh winter storm that brought parts of the US Midwest to a standstill.The story was different for futures traders in Chicago, which took much of the brunt of the storm.“It’s definitely light downtown here. Pit trading opened late too… We’re about half-staffed,” said Frank Lesh, a futures analyst and broker at FuturePath Trading in Chicago, where over 20 inches of snow had fallen.Volume on the NYSE, Amex and Nasdaq reached 7.26bn shares compared to last year’s daily average of about 8.47bn. Appliance maker Whirlpool dropped 2.1 per cent to $83.60 after its profit missed estimates.Time Warner and Mattel rallied after both companies reported stronger-than-expected quarterly profits. Media group Time Warner gained 8.6 per cent to $35.10 while toymaker Mattel was up 0.9 per cent to $24.37. last_img read more

US payrolls edge up and unemployment falls

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first_img alison.lock US payrolls edge up and unemployment falls US employment rose far less than expected in January, partly the result of severe snow storms across parts of the country – but unemployment fell to its lowest level since April 2009.The increase in nonfarm payrolls reported by the Labor Department on Friday was a quarter of the 145,000 increase that economists had expected.The government noted that severe weather could have affected construction payrolls, which dropped 32,000 last month. There were also large declines in the employment of couriers and messengers.A department official also said 886,000 people in the separate household survey said they did not work in January because of severe weather.“Weather did have an impact, construction was weak, below trend, and transportation and warehousing was also pretty soft and that could be affected by weather,” said Sean Incremona, an economist at 4Cast in New York.The modest jobs gains are at odds with other data for January, which had suggested employment growth was picking up and had raised hopes that the manufacturing-driven recovery was now spreading to other sectors of the economy.Despite the small increase in payrolls, the jobless rate, which is calculated from a separate survey, fell to nine per cent from 9.4 per cent in December. The decline is unlikely to discourage the Federal Reserve from completing its $600bn (£371bn) government bond-buying programme to support the economy.The government revised November and December payrolls to show 40,000 more jobs created that previously estimated.The payrolls data comes from a survey of businesses, while the jobless rate is determined by a survey of households. The January household survey also reflects population changes, which makes it difficult to determine why the jobless rate fell. Show Comments ▼ Tags: NULL Friday 4 February 2011 9:21 amcenter_img Share whatsapp whatsapplast_img read more

BEST OF THE BROKERS

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first_img BEST OF THE BROKERS Share F&C ASSET MANAGEMENTDeutsche Bank has downgraded the asset manager from “hold” to “sell” with a target price of 76p. The broker sees two new risks from the firm’s results last week that are not reflected in the current share price: a decline in equity investment performance and a dispute with key client Millennium BCP. DB sees potential upside in F&C getting involved in the sector’s ongoing consolidation. IG GROUPCanaccord Genuity rates the spread betting firm “hold” and has lowered its target price to 482p. The broker notes that volatility was stronger in February, helping to boost revenue, but that it is unlikely that client activity will remain this strong through the next quarter. The broker has trimmed its earnings forecasts for the year by two per cent to £163.9m on slower revenue growth. HOME RETAIL GROUPUBS rates the owner of Argos and Homebase “neutral” with a 12-month target price of 190p, down from 210p. The broker was surprised by cost growth at the group in its results last week, which has led to a £50m cut in UBS’s pre-tax profit forecasts to £195m. UBS assumes that the firm will retain its dividend, but sees a greater medium-term risk. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULL Sunday 13 March 2011 10:22 pm Show Comments ▼ KCS-content whatsapp whatsapplast_img read more