The Lex Column:
*Keying in the changes – Why the sudden round of internet musical chairs? In the past few days Time Warner (TWX.L) has replaced Jonathan Miller as chief executive of AOL. Ross Levinsohn, the architect of News Corporation’s MySpace acquisition, has moved on in favour of another Levinsohn. It is no coincidence.
*European airlines - Airline stocks are at record highs. For an industry that has lost more than $40-billion in the past five years, and has become more inclined to pessimism than optimism, this is quite an achievement.
*Promotion prospects - Pity the poor chief financial officer: the grind of hitting budgets; the mind-numbing ambiguities of last-in-first-out inventory valuation; the relentless numerical interrogations by analysts.
The John Plender on Monday Column:
*A derivatives market behaving like a bullet train.
*Friedman and CSR (CSR.L).
*Curious dividend (Dividend-in-kind).
The Lead Story of the Fund Management Section:
*Europe’s great escape from equities.
Further news:
*Goldman strengthens London office.
*ICE keen on forming LCH.Clearnet partnership.
*Microsoft (MSF.L) separates software from soft sell.
The Economic Briefing Column:
*The deflation threat facing Europe.
Smaller Stock to Watch:
*The Individual Restaurant Company.
Feature:
*Two-tier Britain - The poverty paradox... the less you have, the more you must pay.
Monday Manifesto:
*Ratan Tata.
Further news:
*Mortgage lenders accused of using rate rise to boost profits.
*Who wants to be a Millionaire quiz show set to go Dutch.
*Aviva's (AV.L) £1.6-billion acquisition of AmerUS has given it a toehold in a market that is expected to grow to £17.5-trillion by 2015.
The Ruth Lea Personal View Column:
*For Europe’s sake, the EU’s structure must change.
Interview:
*Jeremy Isaacs.
Market Profile:
*Robert Morrison Atwater (Chief Executive of Cyprotex (CRX.L)).
Further news:
*Branson goes head to head with Murdoch in ITV (ITV.L) row.
*Scottish Power (SPW.L) chief calls for OFGEM overhaul.
*Lehman to reopen in Moscow after 10-years.
*Severstal in Corus (CS.L) bid speculation.
*Soho Clubs and Bars to sell 25% stake to management.
*Edge Performance (EDG.L) pays £1 million for 50% of Martha and George.
*Chinese whispers stoke up fears of Far Eastern gamble.
The Small Talk Column:
*Premier Bionics (PBI.L) looks poised for healthcare tonic.
*Small cap liquidity.
*Kasbah Resources (looking to gain admission to AIM next month).
Further news:
*Investors have high hopes for GUS (GUS.L) spin-offs.
*There is confusion over new FSA regime.
*US Treasury Secretary Hank Paulson is to call for a fundamental re-examination of the way the US regulates its capital markets, to ensure they remain globally competitive.
*Richard Branson lashes out at ‘cynical’ BSkyB (BSY.L).
*Tata prepares for a potential takeover battle for Corus (CS.L) with Brazil's Companhia Siderurgica Nacional (CSN).
*The Daily Telegraph suggests that there is speculation that Severstal may join in the bidding battle for Corus (CS.L).
*Swiss Re (SWI.L) has ruled itself out of making a takeover offer for Resolution Life (RSL.L) and says that 'other discussions' with the special investor on closed life funds have been terminated.
*Electronic commodities market Intercontinental Exchange is interested in forming a clearing partnership with LCH.Clearnet.
*Aga Foodservice (AGA.L) continues to push for a deal to merge with Enodis (ENO.L).
*Foxton mulls £400-million float to fund US expansion.
*Barclay Stockbrokers to launch 2 services aimed at retail investors and day traders.
*Freeport McMoltan to buy Phelps Dodge for £13.7 billion to become the world's largest publicly traded copper company.
*Kazakh mining company Shalkiya Zinc considers $100-million Initial Public Offering.
*West Pioneer Properties looking to raise £28-million in a placing through Libertas Capital.
*Wireless internet company Urban Wimax to raise £35-million for UK roll-outs.
*Investcorp to sell about £271-million of its shares and list on the London Stock Exchange.
*Mobile Credit Baltic is joining AIM next month.
*Money, Debt and Credit is looking to raise up to £10-million ahead of admission to AIM.
*Greek manufacturer Helesi raising £12 million prior to AIM listing.
*Oil tanker broker ACM Shipping joining AIM next month.
*Renewable Power and Light is looking to raise $76-million via a listing on AIM.
*Australian gold producer Medusa Mining is listing on AIM tomorrow.
SOME ITEMS THAT COULD INFLUENCE SHARE PRICES
*Alexander Litvinenko the Russian poisoned in London is said to have no more than a 50 – 50 chance of survival.
*Saddam Hussein's trial was so flawed its verdict was unsound, says campaign group Human Rights Watch.
*Henry Kissinger, former US Secretary of State, says he no longer believes a military victory is possible in Iraq.
*Today, the Economic Secretary to the Treasury, Ed Balls, is expected to launch an attack on the management of the European Union budget and announce a UK scheme vetting EU accounts he wants other member states to adopt.
*According to Rightmove (RMV.L), the average asking price for a house in England & Wales has risen by over 12% over the past year to £222,333.
*According to finder.com, confidence in the housing market has receded over the past month following the latest rate increase.
*Confidence has dipped slightly in most sectors but especially in banking, finance and property, according to amonitor produced by the Institute of Chartered Accountants and Orange.
*British Retail Consortium to predict that Christmas spending will hit a record £12 billion.
*Only a third of the public supports the building of new nuclear power stations in Britain, according to a poll carried out for the Financial Times.
*Goldman Sachs is to strengthen its executive office in London to match the growing importance of Europe and emerging markets in the Middle East and Asia to its earnings.
*Catlin (CGL.L) and ABN Amro could change the way catastrophe insurance is funded, with a new way of offloading extreme risk into international capital markets.
*New superfood cure for cancer – Chilli pepper kills tumours, say doctors.
*Shire (SHP.L) joins fight against watchdog's Alzheimer ruling.
Compiled in association with HB PLC and WH Ireland Ltd
