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The Business Matrix: Tuesday 7 May 2013
HSBC profits to rise as costs cut
HSBC reveals its first-quarter results today. Ian Gordon at Investec thinks the bank will miss financial benchmarks such as its 12 per cent return on equity target, but he does expect pre-tax profit to be at $6.6bn (£4.2bn), ahead of the $6.4bn for the same quarter of 2012. He also predicts more cost-cutting.
SuperGroup to keep momentum
SuperGroup, owner of the Superdry clothing label, is expected to reveal a solid fourth quarter on Thursday, continuing momentum from the third quarter. Kate Calvert at Cantor Fitzgerald thinks it can “push ahead with the development of the brand on the internet and overseas”.
Sainsbury’s set to beat downturn
Sainsbury’s final results tomorrow are predicted by the house broker, UBS, to show “another solid increase in profitability”, despite depressed conditions. It forecasts £749m while consensus stands at £746m. But will the supermarket giant ditch plans for new big shops in favour of online and convenience stores?
BT still rated a buy after shares soar
Ahead of BT’s full-year results on Friday, Liberum Capital’s analysts dismiss worries over the £6bn pensions deficit and believe it will deliver further cost savings. Last month, BT’s shares hit their highest price since 2007 and Liberum still rates them a buy.
- 2 Loom bands: Bids for dress made from colourful rubber pass £170,000 on eBay
- 3 Why I'm on the brink of burning my Israeli passport
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week