Sunday 29 July 2007

Sunday Business Round Up - 30 July


For your delectation, 10 interesting stories from the UK Sunday business pages, most stories relate to three issues, Market Crash, Private Equity or floods;





hat-tip for pic Fotoshearch.com


Market collapse threatens sell-offs; EMI - Says the Observer, certainly a fall in the market is going to reduce share price expectations and therefore bid prices. Will PE (Private Equity) still be able to fund its mega take-over deals

...however, Emap is still for sale - according to the Murdoch's all is not so awful, with Apax still interested in a related business, EMAP.

..and even the Guardian says ICI still in play - Dutch coming back with a higher offer, hope you bought the shares 2 weeks ago.

HSBC reporting - Bank to admit credit loans situation is getting worse. No surprise there, but an important indicator to the market. HSBC is THE most conservative of our big banks when it comes to lending. They also are more honest and admit when things are hard. Others will be in a worse position than this.

Interest rates stable?- The story here is that the Bank will hold at 5.75% because of the market fall; rather depends on whether there is a big rally this week or not. The market tens to reserve real big falls for September historically.

Oil Prices rise though - The so called 'dip' in inflation pressure is to prove a mirage, with Oil prices reaching historical highs.

So what will the effect of the flood be on Water bills? - Ignore the spin, a timely interview with Severn Trent's CEO in the Telegraph.

Floods to cost £6 billion - A nice overview of all the associated costs and the impact of negative equity. Nice part of the world to buy a house though...

Return to Longbridge
- Will China mass build cars there after all?

BA to get huge fine for price fixing - Yikes, this report says it could be 50% of a year's profits. BA is certainly going through it at the moment.

22 comments:

Anonymous said...

The dollar has fallen back despite recent rises, so I think a rise is more likely than less.

That being said the BoE is increasingly being seen as politicised and will make all sorts of judgements based on anything other than its main criteria of the IR.

Anonymous said...

BTW: Only in the UK would we screw over one of our flagship companies and sntch half their yearly profits... The rest of the world has more sense and live in the real world.

Anonymous said...

I have been buying extra bread flour because there may be a shortage...was I wrong?

CityUnslicker said...

Shot - Stagflation will have ill-effects' for that is what it is. Increasing prices of goods, combined with a slwoing consumerb spending and corporate sector. Labour may well have bought us back to the 70's in the end.

As for BA, I think price fixing is something they could have avoided.

CityUnslicker said...

Mutley - Not sure about flour, I saw that peas and brussel sprouts are most likley to be affected?

In the case of the latter, surely a blessing for the nation come Christmas.

Steven_L said...

Hey, I can't do without my Xmas sprouts! Sprouts are about the only thing in my Dad's vegetable patch that aren't dead so there's hope yet.

So you having a spread bet on the close of oil next week then CU? Personally I'd bet it to fall to about $72, why? That's what the gambler in me says.

Steven_L said...

Was suprised to see you haven't commented on the OFT decision to take the banks to court on overdraft fees.

I see this one going further than the High Court, and possibly to the ECJ.

Anonymous said...

Shot - Stagflation will have ill-effects' for that is what it is. Increasing prices of goods, combined with a slwoing consumerb spending and corporate sector. Labour may well have bought us back to the 70's in the end.

I agree, and that is why we need inflation and not have the whole system controlled by illiterate economic control freaks like Brown. The BoE is now taking too much notice of the Government, IMO, and that can only make a bad situation worse as they try and keep the Government sweet and looking prudent.

As for BA, I think price fixing is something they could have avoided.

I agree they could, but they didn't, and only in the UK can...etc. etc.

BTW: Oil to fall back dramatically and OPEC to ramp up production is my gamble.

Old BE said...

I disagree re BA. Competition authorities have got to show teeth otherwise what happens when the next big company gets found out? They will play the "national champion" card. That's a route back to the corporate state if ever there was one.

Anonymous said...

I disagree re BA. Competition authorities have got to show teeth otherwise what happens when the next big company gets found out? They will play the "national champion" card. That's a route back to the corporate state if ever there was one.

The point has nothing to do with whether BA was right or wrong, but whether anywhere other than the UK would we be making an issue like this in public and giving such a harsh fine. Anywhere else, there would be a harsh word in private and the media wouldn't get hold of the story, and the foreign competition would be stuffed first.

In the real world and in most other places and countries, flagship companies are given preferential treatment, and we should do the same instead of this incessant gold plating of regulation that other countries ignore in order to keep their own on top.

Tuscan Tony said...

Re Rover, I'm always baffled as to why anyone would site a mass-manufacturing business in England - light engineeering, Formula 1 car parts, yes, the replacement for the Rover 75 - I simply don't buy into it. Maybe the Chinese are trying to take the heat away from embarassing origin-questions of the new MG.

Anonymous said...

This post, and others like it, is the reason why I have included you in my list of top Tory bloggers for Iain Dale's new guide. I hope others will do the same.

Old BE said...

My list was

1. Edland
2. Edland
3. you get the idea.

Anonymous said...

40 basis point because of fixed term coming to an end? Typical guardian bollox. If you factor in terms changes then you've got to be talking 100 basis points AT LEAST.

Rates may be stablising, though.

CityUnslicker said...

Ed/Shot - re BA, i think the US would always do this to their foreign carriers. This is notr a UK court issue, but a US one. The US is very protectionist when it suits; see online gambling for the best example

CityUnslicker said...

TT - Quite, I wondere whether it is some sort of elabortate wind up!

CityUnslicker said...

Ellee- thanks for this!

Everyone else, please take Ellee's hint, you would not want to upset her now...

CityUnslicker said...

Ed - mutual backscratching?

CityUnslicker said...

Anon - Well mine is over 100 points already, this year on a flexible, so you are right there.

Jackie Colson-Miller said...

Enjoy your blog...wrote about the floods in the UK in my article on Flood Insurance on www.RealEstateSizzle.com.

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