BRASSERIE BLANC FOCUSES ON LE PUB

first_img BRASSERIE BLANC FOCUSES ON LE PUB KCS-content Monday 16 August 2010 8:03 pm THE private equity firm behind Brasserie Blanc, Core Capital, said it will launch the White Brasserie Company which will focus on gastropubs. It will start by opening the Queen’s Head in Weybridge, Surrey, and the King’s Head in Teddington, Middlesex. Raymond Blanc (above) is the chef behind Brasserie Blanc. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite Heraldcenter_img whatsapp Tags: NULL Share 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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot Show Comments ▼last_img read more

Next expects online sales to drive growth

first_img NEXT yesterday reported a 15 per cent rise in first half pre-tax profit and pinned its hopes on internet sales to fuel expansion.The retailer said the tough consumer climate, weakened by a looming VAT hike and job cuts in public services would mean at least three to five years of low sales growth.Next sales rose five per cent in the period with homeware performing strongly. Pre-tax profit was £213.3m and the company repeated its annual profit forecast of around £530m.The company’s share price jumped 7.8 per cent to close at 2,176p following the announcement, which also included a warning that clothes prices would rise up to eight per cent because of spiralling cotton costs. Show Comments ▼ Chief executive Lord Simon Wolfson said a consumer boom had been “supercharged” by easy credit which was no longer available However, he claimed Next was in a good position to ride out the storm because of its strong cash position.“The economy is neither falling off a cliff nor recovering quickly, the truth is somewhere in between,” he said. He added that this environment meant like-for-like sales improvement would be “difficult”. Referring to the internet he said: “We will have to adapt to a new type of consumer environment, one in which like-for-like sales growth is likely to be low for some time and top-line growth will need to come from other opportunities.” Among the changes online will be a guarantee that most customers will receive their goods the next day if they order as late as 9pm. Wolfson said international sales on the web had grown 250 per cent with sales in Eastern Europe proving particularly strong. Share Wednesday 15 September 2010 8:23 pm 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestyle More From Our Partners Biden 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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com whatsapp Next expects online sales to drive growth KCS-content whatsapp Tags: NULLlast_img read more

Tube bosses sit down with unions to avert more strikes

first_img LONDON Underground (LU) bosses went back to the drawing board with trade unions RMT and the Transport Salaried Staffs’ Association (TSSA) yesterday in a bid to avert two more looming strikes and put an end to the long running dispute over staffing levels. The three parties met at conciliation service Acas yesterday afternoon to try and hash out a deal that could see the unions call off a set of 24-hour strikes scheduled for 2 and 28 November. RMT and TSSA, which represent more than 10,000 Tube staff, are at odds with LU over plans to axe up to 800 station jobs, a move they say will cause safety threats to workers and commuters. LU argued that the cuts are necessary as some stations sell fewer than 10 tickets an hour due to the Oyster programme. The transport group also said the staffing changes will be delivered “without any impact on the Tube’s high safety standard” and with a guarantee of no compulsory redundancies.“London Underground needs to change, and we look forward to being able to explain how we intend to do that with no compulsory redundancies and with no impact on our high safety standards. All of our stations with a ticket office will continue to have one,” said LU’s chief operating officer Howard Collins.Services on the Tube have already been impacted by two strike periods since September causing heavy disruptions across the entire Underground network. Transport for London (TfL) said it operated roughly 40 per cent of train services during the last strike on 4 October at the same time it issued 100 extra buses and increased its Thames riverboat capacity.RMT general secretary Bob Crow said: “The mayor is presiding over a crisis on the tube and has chosen to attack his own staff rather than getting a grip on a transport system in meltdown on his watch.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal 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.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo whatsapp KCS-content Show Comments ▼ Sharecenter_img Tuesday 12 October 2010 8:25 pm Tags: NULL Tube bosses sit down with unions to avert more strikes 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wraplast_img read more

G20 agreement on currencies propels FTSE 100 up despite fall in bank stocks

first_img Share KCS-content whatsapp Monday 25 October 2010 8:14 pm G20 agreement on currencies propels FTSE 100 up despite fall in bank stocks BRITAIN’S top shares ended higher yesterday, supported by strength in miners as metals and crude prices rose amid a weaker dollar after G20 finance ministers agreed to avoid competitive currency devaluations.At the close, the FTSE 100 was up 10.61 points, or 0.2 per cent, at 5,751.98, just below last Thursday’s six-month closing high. It hit a 5,794.31 high during the session.Heavyweight miners led the blue chips advance as copper prices rose to a 27-month high after the dollar fell following the agreement at the weekend G20 meeting of finance ministers.Chilean copper miner Antofagasta was the top FTSE riser, up 4.1 per cent, helped by a Goldman Sachs upgrade to “buy” from “neutral”.“Miners provided London’s fuel but as the session wore on there was little else to keep up the momentum, and so Wall Street saw its early gains eroded, along with the FTSE,” said Mic Mills, head of electronic trading at ETX Capital.Away from commodities, Burberry was a strong gainer, up 3.2 per cent as investors speculated LVMH’s purchase of a minority stake in Hermes may spark bid interest in the sector.On the second line, spill-over speculative interest saw the London Stock Exchange gain five per cent after Singapore Exchange’s A$8.4bn (£5.3bn) agreed takeover bid for Australian ASX.Banks, were weak, however, with Lloyds Banking Group the worst blue-chip perfomer, down 5.4 per cent after Credit Suisse cut its target for the state-backed bank.Elsewhere, Invensys shed 2.8 per cent as UBS cut its rating to “neutral” from “buy” in a review of capital goods stocks, saying the sector may have “overshot fair value”. 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL whatsapp Show Comments ▼last_img read more

WPP sees best organic growth in over 10 years

first_img whatsapp Show Comments ▼ whatsapp WPP enjoyed its strongest quarterly organic revenue growth for ten years, according to chief executive Martin Sorrell.However, Sorrell said there is “a tremendous amount of uncertainty” among company bosses about the future direction of the world economy.He said: “Everything we see in the rear view mirror is good,” adding growth was helped by a recovery in the US and in traditional media.“We’ve seen sequential improvement, month by month improvement, through to September, with the exception of June.”However, Sorrell said there was a high degree of uncertainty about the continued economic recovery, especially in the US.The world’s biggest advertising group by sales saw its pre-tax profit surge a staggering 36 per cent in its second quarter, with its US operations enjoying a better than expected recovery.This was largely driven by a spike in traditional media, which grew by more than six per cent after a drop of almost 10 per cent last year.The firm hailed the performance of television advertising, a medium it says is often far too easily written off by critics.Sorrell said the budget has not yet been set for next year. 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 PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndoGloriousaCouple Wins Lottery, 5 Years Later, Their House Had To Be DemolishedGloriousaUndo Sharecenter_img Tuesday 26 October 2010 8:31 pm KCS-content Tags: NULL 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap WPP sees best organic growth in over 10 years last_img read more

Tesco sales pick up overseas

first_img 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 whatsapp Show Comments ▼ whatsapp Tags: NULL Tesco sales pick up overseas center_img TESCO, the world’s third biggest retailer, has seen a pick up in sales growth in South Korea, its biggest market outside Britain, as well as rising sales in China, Thailand, Malaysia and India, it said yesterday.The supermarket group, on the first day of a trip to Asia with analysts, also said returns in Asia and mainland Europe would reverse their recent decline as economic recovery takes hold and its assets mature, and that it expects to open its first cash and carry in India in May next year.Tesco, with over 5,000 stores across 14 countries, makes about 70 per cent of sales and over three-quarters of its profits in Britain. But its overseas markets are growing strongly, with more than half of the profit growth achieved in the six months to August 28 coming from Asia and continental Europe.In presentation slides published on its website, the group said sales at stores open over a year rose 6.7 percent in South Korea in the nine weeks to October 31, up from 6 per cent in the second quarter.Like-for-like sales in China and Thailand were up 8.3 per cent and 3.4 per cent in the same period, down from 9.3 per cent and 4.8 per cent growth respectively in the second quarter, while underlying sales in Malaysia were up 0.5 percent following a second-quarter decline of two percent.Tesco said its cash return on investment in Asia and mainland Europe fell during the recession to 11.8 per cent in 2009-10 from 13.1 per cent in 2007-8.But it said this was back on a rising trend.“International returns will improve from economic recovery in the short term and maturity of assets in the long term,” it said, pointing out that returns in its leading international businesses (Ireland, Hungary, South Korea, Thailand) were up 14.7 per cent, and up 16.9 per cent at stores over four years old. Monday 22 November 2010 5:19 am KCS-content 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 PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Sharelast_img read more

Miners and debt concerns leave FTSE lower

first_img 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald whatsapp alison.lock whatsapp EXCITEMENT over takeover talks at joint replacement specialist Smith & Nephew was not enough to keep the FTSE in positive territory as miners weighed on the index today.The FTSE 100 closed down 37.39 points or 0.6 per cent at 5,946.94 as worries over demand for copper in China and the impact of floods in Australia dampened mining sentiment.Vedanta Resources topped the fallers, losing 3.8 per cent to close at 2,355.00p, while Kazakhmys lost 2.45 per cent to close at 1,552.00p and Fresnillo fell 2.25 per cent to 1,521.00p.Prosthetic limb maker Smith & Nephew fared better, jumping more than ten per cent following reports it turned down a bid approach from US rival Johnson & Johnson worth 750p per share, or a total $10bn (£6.7bn), before Christmas.Banks fell on growing jitters over peripheral eurozone debt after reports that Germany and France are pressuring Portugal to seek financial help from the EU and IMF to stop the bloc’s debt crisis from spreading.“With Italy, Portugal and Spain bond auctions looming this week, investors are mindful that the risk of another European sovereign debt crisis has not gone away,” said Yusuf Heusen, senior sales trader at IG Index.Barclays, however, was up 0.2 per cent, as UBS upgraded its rating to “buy” on hopes its new CEO may soon unveil a restructuring plan to shed low-return legacy assets through creating a “bad bank”.Another raft of retailers published their Christmas trading updates. Supermarket group Wm Morrison kept its full-year forecasts unchanged after reporting better than expected sales figures, while department store Debenhams was hit slightly harder.“Debenhams’ shares have slipped back after sales growth slipped around 2.5 per cent, though this was slightly offset by better than expected on-line sales, which were up 88.5 per cent,” said Michael Hewson, a market analyst at CMC Markets. 

Rising oil prices benefited the sector: Tullow Oil rose 1.1 per cent after bullish updates from two of its wells in Ghana and Mauritania, while Shell gained 1.14 per cent to 2,133.00p. However, BP lost ground news that it had to shut down its Alaska oil pipeline because of a leak.Other major gainers were telecoms giants BT, up 1.24 per cent to 187.30p, and Vodafone, up 1.17 per cent to 176.80p.The eurozone sovereign debt crisis also weighed on the US, to leave the markets closing broadly flat. Food and drink manufacturer Sara Lee eased about 2.5 per cent higher on rumours that it may be a target of private equity firms, while chemicals producer DuPont moved up after reports said it had tabled a $5.8bn cash bid for Danish enzyme and food ingredients firm Danisco. 

“The bid looks like it could well be successful after the Danish company said they would recommend the offer to its shareholders,” Hewson said. He added: “With the fourth-quarter earnings season set to officially begin after the bell tonight with the publication of Alcoa’s latest set of results, equities seem to be struggling for upward momentum after the recent gains of the past few weeks and there is a concern that any positive results from this latest earnings season could well already be priced in.”The Dow Jones industrial average, which has fallen for the last two sessions, closed down 37.31 points or 0.32 per cent at 11,637.45 while the the S&P 500 ended down 1.75 or 0.14 per cent, at 1,267. The Nasdaq Composite bucked the trend, closing 4.63 or 0.17 per cent higher at 2,707.80. Miners and debt concerns leave FTSE lower Monday 10 January 2011 4:32 pm Show Comments ▼ Tags: NULL Share last_img read more

TNT sells mail units to PE fund

first_img Thursday 13 January 2011 7:24 pm TNT sells mail units to PE fund Dutch post and express firm TNT has sold its Belgian mail and Italian unaddressed mail units to their management and Benelux private equity fund NPM Capital. It has not disclosed the sale price but analysts estimate proceeds would be about one times sales for the Belgian business, which excludes TNT’s Belgian parcel operations, and substantially less for the Italian activities. whatsapp Share KCS-content whatsapp Tags: NULL Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comlast_img read more

Citigroup hit as its trading revenues slide

first_img Citigroup hit as its trading revenues slide A SHARP drop in bond trading revenue pushed Citigroup fourth-quarter profit far below expectations, highlighting chief executive Vikram Pandit’s challenges in fully reviving the bank.The earnings miss by Citigroup, which only survived the financial crisis thanks to a massive taxpayer bailout, stoked concern that the bank has yet to resolve the operational weaknesses that have plagued it for years.Shares of the US’s third-biggest bank — which have rallied strongly over the past year as the the US government gradually sold off its stake in the bank — fell 5.3 per cent after it reported a net profit of $1.3bn (£814.6m).The bank’s fixed-income revenue alone dropped 58 per cent from the third quarter – compared to a 7.9 per cent drop at larger rival JPMorgan Chase, which reported on Friday. “This was one of the weaker quarters for trading,” chief financial officer John Gerspach said, acknowledging Citi’s investment bank has also struggled in other areas like the M&A league tables.But he argued that trading results tend to ebb and flow, adding that “one quarter doesn’t make a trend”. Gerspach also forecast that “key hires” made in 2010 would boost securities and trading performance in 2011. He added that the poor performance had come despite relatively strong volumes. Tags: NULL whatsapp Tuesday 18 January 2011 8:41 pm 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’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 KCS-content center_img 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Show Comments ▼ Sharelast_img read more

Powerhouse Germany still driving Euro

first_img Share 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp whatsapp KCS-content 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 PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Monday 24 January 2011 7:29 pmcenter_img Show Comments ▼ Powerhouse Germany still driving Euro RECOVERY in the Eurozone is continuing despite troubles in peripheral economies, data revealed yesterday.Business activity hit a six month high, according to Markit’s purchasing managers’ index, exceeding forecasts.The service industry’s expansion accelerated this month, while manufacturing growth slowed – to an index score of 56.9, down from 57.1 in December.The service sector in the Euro area increased from 54.2 to 55.2.All scores over 50 indicate economic growth.Yet the single currency area is still largely being driven forward by France and Germany, its core economies.“The German composite output index continued to defy gravity, rising from 60.3 to 61,” noted ING’s Martin van Vliet.“The score signalled the strongest private sector growth performance since the record high posted in June 2006.”French business activity also increased, from 56.3 to 56.9, a four month high. The Eurozone is increasingly experiencing a “two speed” recovery, Markit revealed.“The divergence between Germany and the rest of the single currency area has reached a new high,” said chief economist Chris Williamson. “Outside of France and Germany the periphery has now seen new orders fall in four of the past five months,” he said.The story was mirrored by separate data on industrial orders, released later in the day. “German industrial orders surged in November, maintaining its position as the manufacturing powerhouse of the Eurozone,” said Howard Archer of IHS Global Insight. “There as also decent growth in orders in France and, encouragingly, Spain. However, orders fell in Italy.”Industrial orders across the whole of the Eurozone rose by 2.1 per cent in November, compared to the previous month.The divergence in economic performance between difference areas in the Euro area “increasingly complicates the ECB’s task in setting interest rates,” van Vliet said. Tags: NULLlast_img read more