The Lex Column:
*Treacherous waters – The tide has turned at just the wrong time as low-cost countries such as China fight the inflationary current.
*Recession risks – Whatever the inflationary risks lurking in the US economy, recession is the fear that is keeping policymakers up at night.
*Europe’s challenge – Problems in the US and UK banking and housing sectors seem to have wreaked less havoc in the €urozone.
*Emerging markets – Many emerging markets remain highly dependent on export growth, even if this is less sensitive to US demand than it used to be, and on commodity prices.
*Slowing down China – Growth in China’s galloping economy is set to decelerate next year.
Further news:
*Blackstone blames banks as credit squeeze hits $1.8-billion deal for PHH.
*Bloar Oar goes for growth in Australia.
*Ladbrokes (LAD) signs with Turf TV.
*Standard Life (SL.) raises stake in Indian venture.
The Tempus Column:
*The Smiths offer reasons to be cheerful in the top ten: The Tempus Top 10 for 2008: -
AssetCo (ASTO)
BPP Holdings (BPP)
Capita Group (CPI)
Johnston Press (JPR)
Keller Group (KLR)
Northern Foods (NFDS)
Rexam (REX)
Smith & Nephew (SN.)
Smiths Group (SMIN)
Wolfson Microelectronics (WLF)
The Business Big Shot:
*Tom Alexander.
The Year Ahead Feature:
*Crossroads for car firms, while fuel protesters plan new action.
*Credit crisis to put squeeze on growth around the world.
World Briefing:
*Head in the clouds over Alitalia deal.
The Credit Crunch Feature:
*Property - Optimists stand tall as tremors hit office market.
*Property – Buy-to-let investors hold the key to predicting how far house prices will fall.
Further news:
*Pressure on websites to thwart ticket touts.
Damian Reece’s ‘Predictions for 2008’:
*Doom, gloom and silver linings – “Recession will be on everyone’s lips, but I think we’ll be spared one ... just”.
Feature:
*Jeff Randall’s A-Z Guide to People, Places and Power-Plays in 2008.
Profile:
*Jim Slater.
The AIM Market:
*Credit crunch scares investors away from new listings.
The Questor Column – Six of the best stocks to watch for in 2008:
*Faroe Petroleum (FPM)
*Compass Group (CPG)
*Hammerson (HMSO)
*Coda (CODA)
*Legal & General (LGEN)
*Hikma Pharma (HIK)
Further news:
*Banking regulations overhaul ‘increases risk of recession’, warns the Bank of England.
*BP (BP.) agrees to pay £190-million Alaska tax.
*ICI (ICI) finally consigned to history.
Feature:
*The end is nigh in the Independent’s search for 2007’s top social entrepreneur.
Further news:
*Power firms to pocket £6-billion from carbon ‘handouts’ in new emissions regime.
*Rio Tinto (RIO) digs in to lead minings sector in 2007.
Six and the City (6 stocks for 2008):
*Royal Bank of Scotland (RBS)
*Synchronica (SYNC)
*Premier Foods (PFD)
*BT Group (BT.A)
*Ascribe (ASP)
*UK Coal (UKC)
COMMENT AND BID NEWS
*London Scottish Bank (LSB) expects to agree FSA plan over capital shortfall.
*Auditors apply extra scrutiny.
*Battery demand galvanises price of cobalt.
*Santander talks with Alliance & Leicester (AL.) ‘are not dead’.
*Ex-chairman of Northern Rock (NRK), Matt Ridley, forges ahead with Northern 2.
*Property loan defaults forecast to rise sharply.
*BAE (BA.) silent on talk of Indian venture.
*US extends probe into proposed 3Com sale.
*Dollar stumbles into 2008.
*Share price weakness left A&L (AL.) open to approach by Spanish raider.
*Peter Hambro (POG) set to follow spin-off firm on to main list.
*Fears of price war as Iran cuts gas supply.
*Stock exchanges count cost as delisting hits record of $460-billion.
*Actuaries body calls for new pension option.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*On Monday, the Dow Jones closed down 101.05-points at 13264.82, the Nasdaq fell 22.18-points to 2652.22, while the S&P lost 10.13-points to close at 1468.36.
*A report in The Daily Telegraph tells us that Defence chiefs have spent hundreds of thousands of pounds on art, while troops face equipment shortages in war zones and decrepit housing at home. In 2004/05, MoD civil servants bought a set of paintings by Zil Hoque called Nimbus I, II, III, IV at a cost of £160,000.
*Over-running Network Rail engineering works set to put 60,000 on buses.
*Train passengers across the UK are facing above-inflation fare rises of up to 11% on Wednesday. Regulated fares, which include most season tickets, are going up by an average of 4.8%, and many unregulated fares are set to rise by much more. Consumer groups said the rises were unjustified, but train operators said they were needed for improvements. The rises come as services on the West Coast Mainline continue to be disrupted by over-running engineering works.
*Fines imposed by the Office of Fair Trading increased a staggering 76-fold to £237-million last year, a revelation that is likely to be seized upon by the regulator's critics.
*NHS hospitals should be fined for every patient who catches a superbug, Tory leader David Cameron is to say. In a speech to mark the 60th year of the NHS, Mr Cameron will say that tough fines would be "a means of hard-wiring infection control into the system". Hospitals should lose part of their tariff for each patient if that patient acquires an infection, he will say. The government says hospitals should be fined if they miss infection targets, rather than for individual cases.
*30 killed as mob torches church in Kenya.
*Both sides in Kenya's disputed election have accused each other of ethnic violence as tens of thousands have fled their homes fearing further clashes.
Compiled in association with HB PLC and WH Ireland Ltd
