The Lex Column:
*Together forever - Emerging markets, the new theory goes, have decoupled from the rest of the world. The idea is appealing – but does it stand up?
*UK shoppers - If Tesco (TSCO) is anything to go by, there is little sign of a consumer slowdown. However, there are more worrying trends.
*Lessons from Florida - Florida, already at the epicentre of the sub-prime mortgage meltdown, is also doing its bid to rock confidence in public finances.
*ThyssenKrupp/steel - Full-year results from ThyssenKrupp were poorly received on Tuesday, pushing shares down 6%, but there was little to provoke such a dramatic reaction. So what has spooked steel investors?
*Dollar bounce - Could surprises from European central banks take pressure off the US dollar? The currency has plumbed new lows against the €uro and sterling amid almost universally bearish sentiment.
The Lombard Column:
*FSA is right to urge nervy lenders to break a leg.
*Be polite to our politburo (Rio Tinto (RIO)/Xu Lejiang).
*Highland Gold (HGM) rush.
Further news:
*City minister to extend welcome to Chinese sovereign wealth fund.
*Greene King (GNK) fails to reassure worried investors.
*Morgan Stanley's warning hits the banking sector.
*Traders believe Carillion (CLLN) may seek to amend the terms of its proposed 585p-a-share offer for Alfred McAlpine (MCA).
*Woolworths (WLW) hits the lows.
The Business Editor’s Column:
*You really can't be serious chairman Xu (Rio Tinto (RIO)).
*No meddling (The Bank of England and interest rates).
*US laws will sap Europe's energy.
Business Big Shot:
*Phil Bentley.
The Tempus Column:
*JD Sports (JD.) - Worth holding.
*Innovation Group (TIG) - Buy.
*May Gurney (MAYG) - Long-term buy.
Further news:
*Bankers say sophisticated investors have only themselves to blame.
*Airlines warned of turbulence ahead by Goldman Sachs.
*Clapham House (CPH) recovered 8p to close at 158p, as there was talk yesterday of stakebuilding by a potential bidder.
*Talk that Zenergy Power (ZEN) is to announce it has raised about £10-million of new cash via a placing watch.
The Comment Column:
*It's a balancing act for rest of world to avoid US cold.
*Time for Carlsberg to put its money on the bar (Scottish & Newcastle (SCTN)).
*Music industry's licence scheme is hare-brained.
The Outlook Column:
*Why the R-words are unacceptable here.
*Investment banks pass the buck.
*Another stern test for Darling.
*Rock (NRK) staff are worth every penny.
The Investment Column:
*Hold - Weir Group (WEIR).
*Buy - Carluccio's (CARL).
*Hold – Datong (DTE).
The Business Analysis Column:
*Time to brew up a sustainable cuppa.
Further news:
*Eni bid for Burren (BUR) could spark Knoc-out blow.
*Takeovers by foreign firms tumble to £14-billion as credit crunch bites.
*JC Flowers attempts to reopen Northern Rock (NRK) bid, as Olivant Group is expected to make second bid for Northern Rock.
*Banks to call for an independent inquiry over Northern Rock (NRK), while the Government drafts a ‘nationalisation bill’ for Northern Rock, should it fail to find a buyer.
*China's largest steelmaker Baosteel raises the possibility of launching a counter-bid for Rio Tinto (RIO).
*AT&T and Verizon Wireless agree asset swap.
*Hermes embarks on a radical shake-up to reduce its dependence on the BT (BT.A) pension scheme it manages.
*Nasdaq and Borse Dubai poised to declare victory in the battle for Nordic exchange OMX.
*The Office of Fair Trading clears Tesco's (TSCO) acquisition of 5 stores from Somerfield.
*Deutsche Bank (DBK) chief refuses top Citigroup (CGP) post.
*Citigroup (CGP) casts doubt over the future of Woolworths (WLW).
*ITV (ITV) expected to announce a deal to buy 12 Yard, the independent TV production company for £35-million.
*General Motors (GMR) bidding for a stake in Russian carmaker AutoVaz.
*Braemore Resources (BRR) full-year group loss widens to £923,000.
*Net B2B2 (NEB) to place 5-million shares with chairman Keith Young at 10p.
*Renewable Energy (REH) buys unit REG Power Management for £1.6-million cash.
*CVC Capital Partners announces plans to raise £972-million for acquisition of utilities and public services.
*Blackstone to float Travelport, its global distribution arm on the London market early next year.
*Infonic (IFNC) to raise £3.1-million via placing.
*Roman Abramovich to acquire a 40% stake in Highland Gold (HGM).
*Man Group (EMG) AHL fund net asset value down 2.44% vs last week.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*The Dow Jones fell 65.84-points to 13248.73, the Nasdaq lost 17.30-points to 2619.83, while the S&P closed off 9.63-points at 1462.79.
*Ex-Monetary Policy Committee duo Willem Buiter and Sushil Wadhwan, urge the Bank of England to cut rates.
*Tesco (TSCO) demands a cut in interest rates to raise Christmas cheer on the high street.
*Consumer confidence fell sharply last in November as people became more wary of making big spending decisions, according to Nationwide survey.
*The Council of Mortgage Lenders says the Government urgently needs to support homeowners who are struggling to pay their mortgage.
*Citigroup (CGP) tells MP’s sub-prime losses have far exceeded profits.
*The Financial Services Authority warns mortgage lenders to batten down the hatches and brace for 'very difficult' market conditions next year, when at least 1.4-million homeowners face a sharp jump in loan repayments.
*Industry seeks European Commission inquiry into alleged biofuel-dumping by US.
*A man who reappeared 5-years after it was thought he had drowned at sea while canoeing has been arrested. John Darwin was presumed dead after the remains of his canoe were found washed up on a beach in Seaton Carew, near Hartlepool, Teesside, in March 2002.
*OPEC is increasing oil production ahead of the winter peak season even as the cartel still debates whether to support an official boost to its output.
*Bank of Canada cuts key interest rate for first time in 3-years.
*US recession ahead in 2008 but global economy to stay resilient, according to Merrill Lynch.
*The US government mortgage-sponsored company Fannie Mae is slashing its dividend by 30% and raising $7-billion in stock to shore up capital.
*Option One, America's sixth biggest lender of sub-prime mortgages, closes its doors, after owner H&R Block fails to finalise a sale to Cerberus.
*Fourth quarter chief executive survey sees slightly brighter outlook over 6-months.
*Goldman Sachs cuts earnings outlook for Standard & Poor's 500 for 2007 and 2008.
Compiled in association with HB PLC and WH Ireland Ltd
