Citi blocked in $75m SEC payoff

first_img More From Our Partners Astounding 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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Show Comments ▼ KCS-content Monday 16 August 2010 8:43 pm 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 Herald Sharecenter_img whatsapp Tags: NULL Citigroup’s $75m (£48m) settlement with the US Securities and Exchange Commission over its alleged failure to disclose up to $40bn in sub-prime securities has hit an obstacle after a federal judge refused to approve the payment. US district judge Ellen Segal Huvelle said she did not have “sufficient information” to green-light the deal. The SEC accused Citi of misleading investors by failing to be clear on the full extent of its exposure to low grade mortgage-backed securities in conference calls in 2007. whatsapp Citi blocked in $75m SEC payoff last_img read more

House prices fall further as demand dips

first_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyBetterBe20 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 HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: NULL BRITISH house prices suffered their biggest fall since April 2009 this month, declining by 0.3 per cent, property data company Hometrack said yesterday in its monthly survey of estate agents and surveyors.August is traditionally a weak month for British house prices, with many buyers on holiday, and Hometrack’s data are not seasonally adjusted. Nonetheless the firm said a downward price trend was now underway after July’s 0.1 per cent fall.Demand dropped for the second month in a row by 2.2 per cent.“The housing market is in the process of a modest re-pricing that is likely to run for the next six to twelve months,” said Hometrack’s director of research Richard Donnell.“This follows a period of 18 months over which house prices have firmed rapidly on the back of a potent mix of rising demand and a chronic lack of housing for sale,” Donnell added.Hometrack said house prices are 1.5 per cent higher than a year ago, the smallest annual gain since March.Official Land Registry price data, which lag industry surveys, showed on Friday that house prices were 6.7 per cent higher in July than a year ago after a 0.4 per cent monthly rise.Hometrack’s survey is based on estate agents’ and surveyors’ estimates of realistic prices, and has typically shown smaller rises and falls than official data and figures from major British mortgage lenders Halifax and Nationwide.Despite the darkening overall picture, the number of sales agreed rose by 0.8 per cent during August. KCS-content center_img Monday 30 August 2010 8:43 pm Share whatsapp House prices fall further as demand dips whatsapplast_img read more

Troubled Anglo Irish could be told to quit UK

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPuffer fish snaps a selfie with lucky divernypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity 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 AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp whatsapp Share Sunday 5 September 2010 10:22 pm Show Comments ▼center_img KCS-content Troubled Anglo Irish could be told to quit UK BAILED-OUT Anglo Irish Bank could be forced to quit the UK if it is allowed to go ahead with a rescue plan.Chief executive Mike Aynsley has proposed winding up 80 per cent of Anglo’s damaged loan book through Ireland’s “bad bank”, the National Asset Management Agency. He wants to save the remaining 20 per cent, worth around €12bn (£10bn), by spinning it off into a “good bank”.If the Irish government and European regulators allow the split to happen, Anglo would stop lending to the UK market for at least five years. It could also be asked to wind up its UK retail deposit book. Anglo holds around £2.5bn of high street cash from the region.The bank’s future will be thrashed out this week at a series of meetings between Irish finance minister Brian Lenihan, European Union competition commissioner Joaquin Almunia and European Central Bank president Jean-Claude Trichet. Although the European Commission is pressing to wind down the bank completely, the Irish government has warned its immediate closure could cost the taxpayer €70bn. The state’s current exposure is €25bn.The news comes after Anglo lost €8.3bn in the first half of the year. Tags: NULLlast_img read more

House prices in slim rise in August

first_img House prices in slim rise in August Wednesday 8 September 2010 3:41 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fan whatsapp Share John Dunne Show Comments ▼center_img House prices rose 0.2 per cent in August mortgage lender Halifax has said.Prices rose 4.6 per cent up in the three months to August compared with a year ago and took the average price of a home to £167,953 – nine per cent above its low in April 2009 but still 16 per cent down from a peak in August 2007.Analysts had forecast a decline of 0.5 percent on the month, for a three-month annual rate of 4.4 per cent. Halifax economist Martin Ellis said gains in the last two months had reversed the price falls reported between April and June, leaving prices at a similar level to where they were at the end of 2009 and that activity has also been static so far this year.“These developments suggest that the market is broadly stable with house price inflation having cooled since last year when supply shortages helped to push up prices,” Ellis said.“We expect that UK house prices will remain static overall in 2010.” Rival mortgage lender Nationwide reported last week that house prices fell 0.9 per cent last month – the sharpest fall since February due to a rise in the number of properties available.Howard Archer of Global Insight said: “The very modest 0.2 per cent rise reported by the Halifax in August does not fundamentally alter our view that house prices will ease back over the final months of 2010 and very likely soften modestly further in 2011.“Specifically, we suspect house prices will fall back by some ten per cent in total.” whatsapp Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’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 ProofTortilla Mango Cups: Recipes Worth CookingFamily 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULLlast_img read more

BHP clears first hurdle in Potash takeover bid

first_img Show Comments ▼ whatsapp John Dunne 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 Friday 24 September 2010 3:42 am Sharecenter_img whatsapp Tags: NULL BHP clears first hurdle in Potash takeover bid BHP Billiton cleared the first regulatory hurdle in its bid for Canada’s Potash but the miner still has a long way to go to pass the deal with Canadian authorities and the target’s shareholders.BHP, the world’s largest mining company, said it received antitrust clearance from the US Federal Trade Commission to proceed with its $39bn (£26bn) hostile bid for the world’s largest fertilizer maker.However, BHP’s offer is still contingent on other regulatory approvals. The bid is likely to face much tougher scrutiny in Canada, where the country’s competition watchdog has already requested additional information.On Friday, investors and analysts said Potash’s shareholders were the biggest obstacle to the deal.“At the end of the day it is up to the shareholders and the buck stops with them if it even gets that far. At the moment shareholders are saying it is not enough,” DJ Carmichael analyst James Wilson said.Last month, BHP launched its hostile $130-a-share offer to acquire Potash. The Saskatoon, Saskatchewan-based company flatly rejected the bid as “grossly inadequate” and has filed a lawsuit against BHP in an attempt to stymie a takeover.Potash’s US-listed shares ended at $145.4, an 11.8 per cent premium to BHP’s offer, suggesting investors anticipate a higher bid.Analysts expect a competing bid to involve a Chinese entity such as Sinochem, which has hired two investment banks to advise it on options. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comlast_img read more

Germany’s Hypo Real Estate puts €173bn of assets into a bad bank

first_imgSunday 3 October 2010 10:54 pm Show Comments ▼ Germany’s Hypo Real Estate puts €173bn of assets into a bad bank whatsapp GERMANY’S Hypo Real Estate completed its transfer of non-strategic and risky assets to a “bad bank” as the nationalised lender restructures in the wake of the financial crisis.Hypo Real Estate (HRE) transferred loans and securities worth a nominal €173bn (£150.8bn) to a work-out institution called FMS Wertmanagement, HRE said in a statement yesterday, adding that this was the largest transfer of its kind in Germany to date.Following the transfer, the remaining core or “good” bank, called pbb Deutsche Pfandbriefbank, will no longer depend on liquidity life-support measures from the government, HRE said. “The transfer of assets to FMS Wertmanagement represents the single most important milestone in realigning the group,” HRE’s chief executive Manuela Better said in the statement. “Our new core bank, pbb Deutsche Pfandbriefbank, has retained those assets that match its strategic focus and we will concentrate on writing new business in our European core markets,” she said.HRE’s business model combining property finance with investment banking came unstuck in the financial crisis, forcing the lender to turn to Berlin for more than €100bn in assistance. Tags: NULL whatsapp Share More From Our Partners I 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.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.com KCS-content last_img read more

Coca-Cola Enterprises is boosted by strong sales

first_img KCS-content COCA-COLA Enterprises posted higher-than-expected quarterly earnings and gave an encouraging full-year forecast yesterday.The soft drink bottler, which earlier this month became a company that operates solely in Europe, said it expects 2010 earnings of $1.74 to $1.78 per share. Analysts’ average estimate was $1.75 per share, according to Thomson Reuters.The results did not include North America, since earlier this month Coca-Cola took over Coke Enterprises’ North American operations, following a similar move by PepsiCo.In the third quarter, Coke Enterprises said net income was $208m, up from $200m a year earlier. Earnings before one-time items were 58 cents a share, compared with the average analyst view of 53 cents, according to Thomson Reuters. 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 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 Thursday 28 October 2010 7:55 pm whatsapp Sharecenter_img 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 Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.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 FollowAlphaCuteDirect HealthyKate Silverton’s PartnerDirect Healthy Coca-Cola Enterprises is boosted by strong sales Show Comments ▼ Tags: NULLlast_img read more

Focus owners seek financial help or a sale

first_img Show Comments ▼ KCS-content Sunday 31 October 2010 11:02 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Share Focus owners seek financial help or a sale whatsapp THE owners of the UK’s fourth-largest DIY chain Focus are looking to investment bankers to advise on the future of the heavily debt laden business, which could lead to a sale.US based private equity firm Cerberus is taking advice from Lazard on the future of Focus, and is in talks with its banks about refinancing its loans and overdrafts.The business, which has 180 stores in Britain, has debts totalling approximately £230m and made a loss of £21m on sales of nearly £490m in the year to 21 February, accounts filed at Companies House in August show.Last year Focus secured a company voluntary agreement which made it possible to cut leases on a number of empty stores, and also managed to extend its £50m overdraft by two years.One £60m loan carries a high interest rate of seven per cent over Libor – the rate at which banks lend to each other – and will have accrued some £19m in interest by the end of January.Competition issues could however prevent rivals Home Retail Group, the owners of the Homebase home improvement chain and the Argos chain, and Kingfisher, which owns market leader B&Q, from buying the business.Data for the DIY sector shows B&Q has a market share of 27 per cent, while a spokesperson for Home Retail Group said Homebase’s share of the market could also prevent an acquisition. Focus has a market share of just 3.5 per cent.The retail chain was originally founded in 1987 by Bill Archer and has 180 stores nationwide, and last changed hands in 2007 for £1.While DIY was once a boom sector, the industry’s popularity has taken a nose dive and analysts expect sales to fall further this year. However, Focus has recently trialled a new format in 11 stores, with additional cut-price items under the revived Payless brand. The changes are starting to pay off and Cerberus could decide to roll this programme out further. whatsapp Tags: NULLlast_img read more

Lloyds

first_img Tags: NULL Lloyds More From Our Partners Killer 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.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Show Comments ▼ whatsapp Share CONSIDERING the turmoil that Lloyds has been through in recent years, it would be wrong to expect anything other than a mixed picture at this stage in its long march back to health. Still, it would be nice if the image were a little clearer, a fact not helped by management’s aversion to numbers in yesterday’s remarkably sketchy trading update.There was good underlying income growth and a modest improvement in the all-important net interest margin (NIM), which stood at 2.08 per cent in the first half. Elsewhere, impairments continue to fall, albeit at a slower rate, with some analysts worried that it is too early for Lloyds to be losing steam at this juncture in its recovery. The mix of impairments has also shifted, with Ireland’s woes taking their toll on the loan book in the Republic. However, an improving environment in wholesale, where write-offs are falling more quickly than expected, is said to have offset the worst of the impact. Meanwhile, Lloyds continues to wean itself off of government funding, a necessary if painful process. But investors should urge caution until we get the full numbers. Tuesday 2 November 2010 9:54 pm KCS-content whatsapplast_img read more

Supergroup

first_img KCS-content Tags: NULL Wednesday 10 November 2010 7:52 pm whatsapp Show Comments ▼ 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 WHEN investors look back over 2010, they’ll see a graveyard of failed IPOs. Merlin, New Look and Travelport couldn’t even get away; those that did, such as Ocado and Promethean, haven’t lived up to expectations. One of the flotations that stands out from the crowd is Supergroup, which appears to be living up to its boastful brand name. Shares have more than doubled since the firm went public, while sales have done better still. In its most recent update, covering the period to 1 August, sales grew by 60 per cent. Since then, the trend has accelerated, with sales in the three months to the end of October up by 68 per cent. Valuing such a fast-growing retailer is tricky, and investors should urge caution where hype is involved. Supergroup currently trades on 23 times calendar earnings in 2011, far more than the wider retail sector (12.6 times). Bulls point out that ASOS trades on over 40 times 2011 earnings, although the online-only retailer has a completely different business model. No one can deny Supergroup’s meteoric rise, but it is already priced in. Share Supergroup last_img read more