Showing posts with label events. Show all posts
Showing posts with label events. Show all posts

Wednesday, 24 August 2011

Steve James: farcical events at Glamorgan raise eyebrows in Australia

With so much international cricket being played year-round around the globe, its newspaper coverage may have shrunk, but it still has its legion of supporters and followers. Many of them may be latent – for each of the last two seasons the Cricinfo website has recorded some 30 million hits on its county cricket pages – but they are there.

As indeed I have discovered many miles away here in Australia. There I was at the Gabba the day before the first Test, trying to watch the various net sessions (with Doug Bollinger clearly making the point that he did not like being left out of the Australia side by bowling at the speed of light) and familiarise myself with new surroundings, while rather a lot of people seemed to want to ask only one question: “What on earth is happening at Glamorgan?” And the inquisitors were not all Welsh! Given the mountains of correspondence and calls I have received in the last couple of weeks, I very nearly called a press conference after the captains Andrew Strauss and Ricky Ponting had uttered their pre-series war cries.

“Everyone has resigned, haven’t they?” remarked one top-notch sports writer. Well, not quite, but three in a week is pretty unprecedented. That is captain Jamie Dalrymple, who was sacked and then resigned from the club, director of cricket Matthew Maynard and then president Peter Walker in disgust. Oscar Wilde might have had something to say about this. One? Unfortunate. Two? Careless. Three? Just plain stupid.

As cock-ups go Glamorgan’s recent actions have been top-rank. They wanted to improve matters; instead they have made them many times worse. The broad principles of their thinking were actually reasonably sound. Dalrymple is a fine cricketer – indeed I stand by my assertion three years ago that he was Glamorgan’s best-ever domestic signing – but he is no Mike Brearley. Maynard is a sharp coach, happiest with tracksuit on, but not a director of cricket with all its attendant duties. So to sack Dalrymple and demote Maynard was not wildly ill-advised. But the manner of its implementation, as well as the choice of replacements, was quite shambolic.

Glamorgan wanted Ponting or Graeme Smith to captain. They ended up with Alviro Petersen. It is not quite the same. They say they conducted a worldwide search for a managing director of cricket and ended up with Colin Metson, a former Glamorgan wicketkeeper and recently chairman of their cricket advisory group, but with little experience or knowledge of top-level cricket recently. Perhaps more pertinently he is a friend of chairman Paul Russell.

What is more nobody told Maynard he was being demoted before Russell, Metson and chief executive Alan Hamer took a trip to Dubai to sign Petersen during the recent South Africa versus Pakistan Test series. There has been a nice video clip doing the email rounds showing all three sitting in the stands. Caught red-handed.

There are a couple of wider issues to consider here. Firstly the importance of one-day cricket. Glamorgan missed championship promotion by a whisker (a mutton-headed Sussex declaration handed Worcestershire the spot instead) but yet again were woeful in the one-day stuff. That is where the cash cow lies. The players profess the championship to be the most-prized competition, but the bean counters beg to differ.

Secondly the influence of the county chairman. It is a role that has changed dramatically. Once it was mainly a ceremonial post; now many chairmen prop up their counties financially. Russell certainly does at Glamorgan. And with that comes power.

But the trouble is that very few of these men know their cricket. They think they do, but the truth is they do not. At heart they are just fans. They get star-struck like everyone else. So they make decisions in sport that they would never make in business.

Then business and cricketing needs become confused when they are asked to make decisions about the domestic cricketing structure. Most culpably, though, some poke their noses into team affairs. That was cited as a reason for chief executive David Smith’s resignation at Leicestershire earlier this year. Eventually, after much acrimony, the chairman Neil Davidson resigned too.

A quote from Sir Alex Ferguson strikes a chord: “I am the most important man at Manchester United. It has to be that way,” the manager said recently.

So it should be in cricket. Leave the cricket to the experts.


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Friday, 29 July 2011

Week ahead: economic events, the results of the company from 18 to 22 July

Results of the year: CSF

Interim results: Angel biotechnology, SThree

Trading Update: No announcement

Economics: No announcement

Meetings: Big yellow (AGA), icon (AGM)

• Greater Britain listed real estate company that Land Securities will update the market with investors looking for progress on contracts for the lease to its Office in London and Leeds Trinity shopping centre developments.

Land Securities does not provide a update on assessments in its first and third quarter statements but Francis Salway, Director Executive, will provide insight into key to the health of the retail market for Britain and the confidence of consumers in view of the broad centre commercial portfolio. The presentation will focus on the three months to March 31.

Results of the year: IG, Sceptre Leisure Group

Interim results: No announcement

Trading Update: Intermediate Capital Group, Land Securities

Economics: No announcement

Meetings: Dairy Crest (AGA), Ffastfill (AGA), intermediate Capital Group (AGA), JP Morgan European Investment Trust (AGA), Johnson Matthey (AGA), perpetual income and growth investment (AGM)

• The water companies were in vogue approach of Northumbria founded an investor from Hong Kong water.

These actions are usually held as a dividend, so investors will want to know everything is going well with the generation of cash of the company. The potential yield is 5MC.

Results of the year: AEA Technology

Interim results: Aberforth smaller companies Trust, International personal finance

Trading Update: BTG, London Stock Exchange, Yell Group, icon

Economics: Minutes of the Bank of England MPC, summary of the officers of the Bank of trade conditions

Meetings: B P Marsh and partners (AGA), BTG (AGA), Experian (AGA), Irish Life & Permanent (EGM), put (AGA), London Stock Exchange (AGA), Trent Severn (AGM)

• Quiet, is that many investors for as updates of Mitchell & Butlers (M & B) on trade.

Last week, the Group lost pubs its third President in 18 months, the last change on the M & B carousel.

Trading is probably remained in good health, but it will be business issues on the agenda with news of the search for a new Chief Executive, President and the eventual resumption of all dividends urgently requested.

Plan • having unveiled its turnaround from three years in may, Tim Cobbold to the CEO of the De La Rue will update the market on the progress made at the beginning. The jury is still decided on its chances of success, although analysts have welcomed the intention to reduce costs and improve government procurement.

Shareholders will be interested to hear of the street is to earn enough orders in the business of currency in what will be an important second half of the year, while they will also search for a rise of fortune for the division of tickets where volumes were disappointed.

Results of the year: The Eredene capital

Interim results: Capita, Howden joinery

Trading Update: Britvic, Dragon oil, Great Portland Estates, Hilton food, Kingfisher, Lonmin, Mitchell & Butlers, Petropavlovsk, SABMiller

Economics: Public sector of UK borrowing figures, the retail sales, quarterly trends in Bank of England loan report

Meetings: Caledonia Investments (AGA), Cable & Wireless worldwide (AGA), of the street (AGA), Land Securities (AGA), McKay Securities (AGA), Scottish & Southern Energy (AGA), Wincanton (AGA), Yell Group (AGA)

• United Utilities, the utilities of North West company focused, should display a 3pc earnings growth this year, investors would like to hear if everything is on track to updating by the commercial direction at its General Assembly annual. The actions are producing a 5 5pc

Results of the year: No announcement

Interim results: Beazley

Trading Update: Close Brothers, United Utilities, Vodafone

Economics: European Finance Ministers meeting on the budget of the EU, White House Date deadline to reach agreement on the US debt ceiling, publication of the note by the Bank of England/CEPR Monetary Policy Roundtable since the June meeting

Meetings: Edinburgh Investment Trust (AGA), KCom (AGA), Regal Petroleum (AGA), strategic natural resources (AGA), United Utilities (AGA), Vectura (AGM) XAVIER Rolet and its Board of Directors will be to the shareholders of the London Stock Exchange (LSE) in a few weeks only Wednesday after the company had its merger controversial MD £ 4 with TMX Group of Canada of scrap.


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Thursday, 28 July 2011

Events of the Middle East: market rection

Escalating tensions in the Middle East have frightened markets. Photo: AFP

Charlie Robertson, Chief Economist world, capital of the Renaissance:


"Events and the bloodshed in rich nations - such as Libya and Bahrain - suggest disorders can spread even more deeply in oil production, such as Iran, the Algeria or nations more worrying for the markets, Saudi Arabia."


Rising prices for oil and gold yesterday are responses of rational market this uncertainty and Russia - with exposed both - equities should do well. In Ghana, the Kazakhstan and Nigeria are likely beneficiaries too, although it is frontier markets.


"Safe haven currencies, such as the franc Switzerland (vs Euro) and the yen would normally well in this environment, but the two are already expensive." Norwegian kroner (versus the Euro) is probably the most obvious beneficiary of this uncertainty, held its exports of petroleum and distance from the Middle East.


On the other hand, the Turkey perhaps suffer, given its dependence on oil and regional proximity... and as the Turkish Lira is now relatively good market in the short, we need to see Central Bank intervention to reduce volatility.


Jim Reid, strategist, Deutsche Bank:


"Libya has the largest reserves of oil in Africa and the ninth largest worldwide political instability naturally is a source of concern regarding prices and production volumes.


Joshua Raymond, market strategist, city Index:


The reaction of markets is one of uncertainty on how to play the situation in the Middle East and what will be the consequences for crude oil supplies.


"Spikes in crude oil are likely inflated costs for society, particularly airlines and as these margins of pressurized." Investors are afraid now that the Libya disorders and other nations in the region could affect profits of corporations, at least in the short term.


"FTSE 100 exchanged by 5950 support levels today and should the UK Index close below that level today, it can open more downside pressure levels of support 5824 next."


Simon Denham, head of the capital spreads


"FTSE is slot pressure this morning in the area of 5950 medium with what is quite a level of support important."


"The speed with which nine is to sell investors disconcerting and this can easily be transformed into a panic, causing a move significant downward as the index has already pas take into account levels of support."


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Wednesday, 27 July 2011

Saudi shares launched notice on the Egypt events

Saudi Arabia Tadawul all them share Index decreased 4 1pc with 6,419.89 by Saudi lunchtime.

Market in Saudi Arabia, where the beginning of the work week is Saturday, was the first to respond to violence in Egypt and in the fall of the TASI offers a window on the forceful potential that would emerge when other regional markets reopen Sunday.

"Fall is due to a feeling about what is happening in Egypt and in the United States because the index Dow Jones declined", Friday, said John Sfakianakis, Chief Economist, Riyad Bank Saudi Fransi-Credit Agricole Group.

"You have some collateral damage linked to investors... which are exposed in Egypt and strive to only cover the exhibition through the sale of their positions in Saudi Arabia,"he says."

Tens of thousands of demonstrators met the riot police Friday, the fourth day of violent demonstrations in Egypt. The demonstrators demanded Mubarak eviction and measures to deal with overwhelming poverty in the country, corruption and the growing disparity in income distribution.

The riots - inspired by similar events in Tunisia, two weeks earlier - prompted Mubarak, who decided the most populous Arab nation since 30 years, asked his cabinet resign. But this movement seems unlikely to significantly alleviate the wrath of the Egyptians who say that the leader of 82 years is cruelly their daily lives.

Sent violence index tumbling Egyptian reference nearly 17% over two days, and analysts expect that violence Friday will be another plunge on the Egyptian Exchange and waving in other regional markets.

"The momentum is there, said Sfakianakis, predicting as regional markets drop."

"There is no reason to expect the Saudi market to go up the general feeling is predatory and wait and see rather than the sale and the buy it now", he said.


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Thursday, 14 April 2011

Week ahead: economic - corporate events on April 11, 2011

Thus Europe's debt crisis, politicians and economists discuss the disorders of the Middle East and the impact of the earthquake of the Japan.

michael Page International coup ads of the week with a commercial statement today. Trade figures for the recruitment firm should provide an indication of the application in the whole of the world economy. The last quarter of 2010 has seen a strong finish to the year with fees net up 31pc year after year.

Results of the year No application

Interim results Carrs milling Industries

Trading update E2V Technologies, Michael Page International, Volex Group

Economy No application

Meetings Henderson Pacific Investment Trust AGM

Alliance Trust will publish its first set of results since tumbling out of the FTSE 100 in March.

Katherine Garrett-Cox, Chief Executive of the company and his management team have been under pressure since a group of activist investors began to build shares in the group. Laxey Partners, a Fund focused on the Isle of Man, sent a letter to the company asking him to start to buy back shares to reduce the discount between its price and the net asset value of the investments of the group.

The letter will be now sent to the shareholders by Alliance Trust ahead of its annual meeting in may, where the Laxey filed resolutions to introduce a "discount mechanism of control" - which would kick in when the company falls below its NAV 90pc.

Investors are also eager to hear punch taverns on details about the plans of the company for two companies - Punch and the spirit.

Speculation is mounting that Ian Dyson, Chief Executive Officer, will continue with the side managed pub business: will Mike Tye Director General.

During this time, Brian Wallace, Director of finance from Ladbrokes and an old associate of Mr. Dyson in their days, at the level of the Hilton group has been tipped as a likely mind President.

Roger Whiteside, Director General of non-compliant rental pubs, is provided at the head of the non-compliant rental division, and Ed Bashforth, Secretary of the company for 36 years, could become Director of Finance of the unit.

Results of the year Alliance Trust

Interim results Punch Taverns

Trading update GKN, Telecity Group

Economy Monitor sales to the British Retail Consortium Retail, RICS housing survey, the numbers of trade UK, March inflation data

Meetings Access Intelligence AGM, JP Morgan Claverhouse Investment Trust AGM, law debenture Corp. AGM, AGM primary health properties,

jd Sports fashion, high street retail group, is supposed to report full-year pre-tax profits of £ 79. 3 m, compared to £ 61. 4 m last year. The group is a retail chain a few running well at this time. The month last end JD offers talks with rival JJB Sports.

Results of the year JD Sports, Styles & Wood Group

Interim results Smiths News

Trading update ASOS, WS Atkins

Economy Unemployment figures

Meetings Anglo Pacific Group AGA, Drax group AGM

WH smith will announce its first half results Thursday. The magazine, stationery and book retailer is expected by analysts to Seymour Pierce to report first half profits before tax of £ 64. 5 m, up to 4 1pc on last year.

Earnings from its high street division is expected to be slightly on the year £ 47 last. 3 m, while its travel division earnings are expected to have increased by £ 25 by 9 FP7. 2 Mr. retailer has had a good recession, and its current performance and sale will be flattered by the disturbance to its shops in airports last year. Kate Calvert, analyst at Seymour Pierce, said: "sales are fairly well known as management issued a reassuring commercial statement in January." High street like-like sales were down FP6 during the week of 21 to 22 January and travel sales as resembling 3pc down, affected by disturbances in the snow. With detail making virtually all its profits on Christmas in the first half, the focus will be on prospects for travel.

She added: "comparable are potentially more low in view of the volcanic ash disruption and the number of strike days BA last year."

Investors will be hoped that Bank of Ireland will provide indications as to whether if the Irish regulator intends to force the holders of bonds in Irish banks to hair cut in the value of their assets.

Last week, Matthew: Elderfield, head of the financial regulations of the Central Bank of the Ireland, refused to exclude from cutting hair for investors in the debt of Anglo Irish Bank and Irish Nationwide Building Society.

Results of the year Systems of Filtration AMIAD, Bank of Ireland, Dori Media, ideal online shopping

Interim results Debenhams, WH Smiths

Trading update Ashmore Group, group Dunelm, Eaga, Filtrona, PZ Cussons

Economy The g-20 finance ministers began their meeting in Washington

Meetings BP AGM, Filtrona AGM, rank group AGA, Smith & Nephew AGM

The market hopes that Ladbrokes will provide an update on its takeover talks with 888 Holdings when the bookmaker he unveils his latest trading figures. Ladbrokes has negotiated with 888 for months and speculation is mounting the deal could fall apart.

Results of the year No application

Interim results No application

Trading update Ladbrokes

Economy No application

Meetings No application


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Tuesday, 12 April 2011

Week ahead: economic - corporate events on April 4, 2011

On the business front, Marks & Spencer will update the market on its fourth business quarter, and the string should have had a difficult time since the beginning of the year.

Analysts expect sales of general merchandise - which is the sale of any food bar - to fell 6 2pc. The range of expectations of sales of 15 analysts of the city, extends from UNMIS 8pc at least 4pc. Food sales are expected to have increased by 1. 3pc, with the range of flat sales to increase sale of 3pc.

Overall, analysts expect global sales fell by 2 5pc.

The negative figure reflect what others have said in recent weeks - that customers are reigning in spending as the household budget get pressed.

But M & S not will not have had as evil as some rivals. Its positioning at the upper end of the market means that it is sheltering some more doubtful rivals have been involved in the update. Clients also have be "trading up" in the clothing of superior quality, which would have contributed to M & S.

Hyder Consulting will provide a commercial upgrade today. Investors will be keen to know if the Middle East business resumed. Updated commercial company, Hyder stated in the Middle East "remains difficult and progress on contract departures are still a bit long".

Results of the year: Dods, Graphite Enterprise Group

Interim results: Nanoco

Trading Update: Hyder Consulting

Economics: The Bank of England housing figures withdrawal of fairness for 2010 Q4, construction PMI

Meetings: XP Power

Porvairfiltration specialist, will update the market on the exchange of rights that it holds its annual shareholder meeting Tuesday. Its results in January of the year, Porvair has posted an increase in profits to £ 3 82pc. 1 m and a 15pc increase revenue to £ 63. 6 m.

At the time, the la compagnie company said that 2011 started well with income in December and January of the previous year and the momentum in the second half of 2010 carrying forward in the new year.

Porvair made equipment of filtration and separation technology of the environment, energy and aviation. In February, he has won an order for nuclear filtration for €600,000 (£ 529,444).

Results of the year: Asia Digital Holdings, International liaison Enquest, Immupharma software

Interim results: No application

Trading Update: Aberforth smaller companies Trust, ING UK, fifteen next Communications, Porvair real estate income trust

Economics: PMI services

Meetings: Scotty Group

TI Misys provider is expected to signal the continuation of the growth of its software banking services. However, statement by the interim leadership of today should be limited details. Sales in the first six months of its fiscal year increased 2pc 161 m £, while operating profit fell 3pc 23 million pounds sterling.

Earlier this year Misys set out plans to return an another £ 145 m, investors sharing the spoils for the sale of the year last health software joint venture Allscripts-Misys. He had already used about 525 m £ the proceeds of the sale of the company, which manages electronic health records for physicians and hospitals, a share buyback scheme.

It is the beginning of the new tax year 2011-2012 and include effective measures of April 6: the inheritance tax threshold frozen at £ 325,000 to 2014-2015. ISA limits indexed annually in line with RPI; and a rate of additional 5MC right stamp for buildings residential purchases on 1 m £.

Results of the year: Prezzo

Interim results: No application

Trading Update: Marks & Spencer, Misys, Robert Walters, XP Power

Economics: Data of industrial production for February, confidence index consumer in throughout the country for March

Meetings: No application

String partsHalfordsbike or by car, will update the market on the trade of the latter. In January, the company said that profit before tax for the year will be at the lower end of market expectations. The company has been hit by the overall consumer spending slowdown that hit most of high street retailers. His recent move into camping equipment could soon reap benefits, even if, as Breton start charting their summer breaks.

Hays, more UK recruitment company, announces three-quarter results. Last month the company downplayed a 36pc fall in income from jobs in the public sector for the six months to December as "ought to". Analysts predict that the group will continue to see opportunities for growth abroad, including Asia. Society is profits before tax of report of 106 m £ in the year to June 30, 2011, according to Credit Switzerland, recovering from 80pc collapse in profits before tax of the previous year. 2010 Figures have been tainted by a £ 30. 4 m fine imposed by the Office of Fair Trading of price fixing, which was reduced to £ 5. 9 m by the Court of appeal of the competition in London last week.

Results of the year: Asterand, Hydrodec

Interim results: No application

Trading Update: Hays, Halfords, Victrex

Economics: ECB interest rates, the decision of rate of the Bank of England, data on the productivity of labour for Q4 2010 announced

Meetings: Scottish American investment

Vedanta issues full-year production figures. Investors will be eager to hear any update on the project to offer to buy Cairn Energy India oil fields. This is because a decision will provide more clarity on the future direction of the structure of the debt of the company and group. The flotation of its unit of Konkola Copper Mines reached the end of last for any comment on it will be important. All the news about the question of whether the company will be granted permission to mine bauxite in Orissa are also noted.

Results of the year: No application

Interim results: No application

Trading Update: Vedanta Resources

Economics: Prices for March

Meetings: No application


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