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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Imperial Tobacco Group PLC (ITYBY: OTC Link) | Investor event

Category : Stocks

Investor Event, London< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

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Rostelecom (ROSYY: OTC Link) | Home Country News Release

Category : Stocks, World News

Tue, Nov 06, 2012 01:00 – Rostelecom (ROSYY: OTC Link) released their Home Country News Release concerning COUPON FOR ROSTELECOM’S BONDS SET AT 8.55% PER ANNUM. To read the complete report, please visit: https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=93818.

See the rest here: Rostelecom (ROSYY: OTC Link) | Home Country News Release

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Kingfisher tipped for £600m cash return to shareholders

Category : Business

Analysts at JP Morgan say DIY group has scope for share buybacks as cash builds up on balance sheet

Kingfisher, the owner of B&Q in the UK and Castorama in France, could afford to hand around £600m back to shareholders, according to analysts at JP Morgan Cazenove.

Ahead of a company trading update due at the end of the month, the bank issued an overweight recommendation and 361p price target. Analyst Gillian Hilditch said the recent weakness in the shares- and they are down another 3.4p to 281.7p in the current market rout – was due to worries about the effect of the poor weather in the UK and the eurozone’s economic woes. But it presented a buying opportunity, given the prospects for long term growth with a possible 15% annual rise in earnings despite the current uncertainties:

A likely weak first quarter in the UK has been well flagged. Our estimate is -8% like for like sales in B&Q driven by unseasonal weather and tough comparisons. This is likely to be largely offset by better margin and a stronger first quarter in France where DIY has surprised on the upside year to date. More importantly it is likely to reverse in the second quarter when the comparison is 700 basis points easier and Kingfisher is anniversarying the exit of Focus DIY.

There is also the prospect of a share buyback over the next few years. Hilditch said:

Kingfisher has generated £3bn of free cash flow over the last four years and despite an annual space programme of 4%-5% per annum, we expect to see a build up of cash on the balance sheet by 2015. We see scope therefore for a potential return of around £600m of additional cash to shareholders over a three year period (£200m per annum).

Barclays Launches Competitive New Cash ISA Paying 3.05%

Category : World News

Barclays today launches its new ISA range which includes a competitive Loyalty Reward ISA paying 3.05 per cent AER/ 3.01 per cent tax free per annum (variable), enabling customers to make the most of their tax-free savings allowance.

Read the original: Barclays Launches Competitive New Cash ISA Paying 3.05%

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