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Thursday, 23 October 2014


Maurice Levy, French advertising group Publicis Chief executive

Publicis better show it has a cure for "hiccup"

23 October 2014

The French advertising group says focus on the failed merger with Omnicom explains its weak performance in the last quarter. It also has excuses for different parts of the business. The pressure is on to show at its next strategy update how it intends to shake its growth problem.

Brady W. Dougan, CEO of Credit Suisse

Credit Suisse's future is mid-table drabness

23 October 2014

The Swiss group’s investment bank trumped Wall Street in Q3. But it’s no longer a top-tier player in any standalone business line, and questions linger over its ability to maintain strong fixed income returns if rates rise. Muted expectations should apply to other divisions too.

Tesco Plc. CEO Dave Lewis arrives for Tesco's interim results announcement in London October 23, 2014.

Tesco fails to answer key strategy questions

23 October 2014

The UK retailer’s accounting error is larger than originally flagged. Sales are falling faster than feared. News that the chairman is being replaced will help. But Tesco’s new CEO missed a big chance to articulate a turnaround plan – despite some obvious remedies.

A man walks past a terrace of houses in London

Foxtons alert points at housing momentum reversal

23 October 2014

The London-focused real-estate agent says booming sales volumes have suddenly slowed. That fits with other evidence the market peaked earlier in the year. Foreign buyers may assist a soft landing. But, as Foxtons hints, UK political uncertainty could act as a powerful brake. 

Mobile phones made by Nokia are pictured in this photo illustration taken in Warsaw May 8, 2012.

Nokia shows there’s life after phones

23 October 2014

It’s six months since Microsoft closed the purchase of Nokia’s once-great handset business. A big earnings beat shows the Finnish group is now thriving in network equipment, even as rivals struggle. Still, questions remain over U.S. telco capex and profitability in mapping.

Chairman of Daimler AG and Head of Mercedes-Benz cars Dieter Zetsche gets out of the new Mercedes-AMG GT car on media day at the Paris Mondial de l'Automobile, October 2, 2014.

Daimler can turbo-charge up its cash return

23 October 2014

The German carmaker is boasting of record sales, rising margins and rich proceeds from asset disposals. But its dividend has not grown in line with a recovery in performance. After years of parsimony, Daimler can afford to be more generous to shareholders.

GSK’s deal-making days may just be starting

22 October 2014

The struggling pharma group is mulling an IPO of its HIV unit, which would go straight into the FTSE-100. It’s also holding next year’s dividend flat. The extra financial flexibility is welcome. But there’s also scope for a more radical strategy to realise value from disposals.