CBI’s factory orders index hits two-year high December 8, 2010 BRITISH factory orders looked to be their strongest in two and a half years after a surge in overseas demand, the Confederation of British Industry’s December industrial trends survey has showed. The CBI survey’s total order book balance unexpectedly jumped this month to -3 from -15 in November, well above economists’ forecasts of a reading [...]
Carillion looks to double international business December 8, 2010 Building firm Carillion said it would look to double revenue from its international business and grow its support services operation in Britain as public sector clients look to cut costs. Carillion also said on it expected to deliver good growth in pre-tax profit and earnings per share in 2010. “The group is well positioned to [...]
Game Group profits to be hit by discounts December 8, 2010 Computer games retailer Game Group said profit margins would fall by more than expected this financial year as it cut prices to retain share in a market being targeted by grocers and other retailers. Game, which trades from over 1,300 outlets in nine European countries and Australia, said on sales trends had improved in recent [...]
Stagecoach profit drives forward December 8, 2010 TRANSPORT group Stagecoach posted a 43 per cent rise in first-half profit, driven by growing ticket sales across its bus and rail operations, and said the positive trend had continued into the second half. The bus and rail operator on Wednesday reported a pretax profit of £108.7m on revenues 4.8 per cent higher at £1.13bn [...]
Kesa sees profit surge but Comet struggles December 8, 2010 Kesa Electricals has seen its half-year profit surge after strong sales growth in Europe offset losses in the UK. Kesa, which owns the Comet chain, made a pre-tax profit of £22.9m in the six months to 31 October, up from £6m a year earlier. But the losses at Comet have reached £5.4m from £1.5m, which [...]
Ireland takes tough medicine December 7, 2010 EUROZONE leaders breathed a sigh of relief yesterday as the Irish parliament narrowly elected to swallow the bitter pill of fiscal austerity in return for its €85bn (£72bn) bailout. Eighty-two MPs voted in favour and 77 against the plan to deliver €6bn of budget cuts next year. Finance minister Brian Lenihan said the budget, which [...]
Halliburton man missed rig dangers December 7, 2010 AN ENGINEER responsible for monitoring gas levels on BP’s ill-fated Deepwater Horizon rig missed clues it was about to explode because he had gone out for a cigarette, a US panel probing the accident heard yesterday. Joseph E. Keith, who worked for Halliburton’s Sperry subsidiary, failed to see pressure data indicating the well was filling [...]
Insider trade probe widens December 7, 2010 US authorities have expanded an investigation into insider trading on Wall Street, bringing to more than one dozen the number of subpoenas sent to hedge funds and other investment firms over the past two weeks. The new subpoenas signalled an intensification of one strand of the investigation, which focuses on funds that did business with [...]
Public sector must do more with less December 7, 2010 AN intriguing book has just dropped onto my desk (and no, I’m not referring to Gordon Brown’s massive self-justificatory opus, which I shall ignore for as long as possible). Called More with Less, it summarises the findings of one of the largest independent studies into public sector performance in the UK to date, conducted by [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 7, 2010 FINANCIAL TIMES FSA CHIEF WARNS ON BANK RULES Ensuring that the heads of failed banks face punishment would likely require a set of rules that held them to higher standards than other company directors, the head of the City watchdog has warned. Lord Turner, chairman of the Financial Services Authority, makes this argument while defending [...]