Unemployment drops to 2.47m September 15, 2010 Unemployment fell by 8,000 to 2.47m in the three months to July, figures from the Office for National Statistics have shown. The overall UK unemployment rate remained at 7.8 per cent. However, the figures also showed the claimant count – those out of work and seeking unemployment benefit – rose by 2,300 in August to [...]
Cattles restructuring talks break down September 15, 2010 Stricken door-to-door lender Cattles said talks with its creditors over a restructuring had broken down and it would now work to find a further solution. Cattles had been in talks for some time with its key financial creditors about a restructuring of its liabilities and it had said shareholders could receive 1 pence per share [...]
Galliford Try bounces back September 15, 2010 UK housebuilder and construction firm Galliford Try posted a 6.5 per cent rise in full-year adjusted pre-tax profit, aided by growth in its housebuilding division, and said it was on track for expanding the unit. The firm, whose origins can be traced back to 1908 when WS Try formed a construction business that carried out [...]
Japan moves to weaken yen September 15, 2010 Japan sold the yen in the market on Wednesday for the first time in six years, trying to stop the currency’s relentless climb from hurting exporters and threatening a fragile economic recovery. Fresh after a victory in party leadership contest, Japan’s Prime Minister Naoto Kan appeared to be stepping up efforts to wrench the country [...]
Next profit up 15pc September 15, 2010 Next has seen pre-tax profit for the first half rise 15 per cent to £213m. Sales across the group were up five per cent while the interim dividend was hiked by 6p to 25p. Meanwhile earnings per share rose 24 per cent., in the six months to 31 July. Next ended the period with net [...]
LSE boss: help me protect the city September 14, 2010 THE London Stock Exchange’s boss last night called on those involved in the capital raising business to back his campaign against proposed new rules he fears could “severely” impact London’s competitiveness. There are growing fears that the new rules could chase capital raising out of London, robbing the City of much-needed income and jobs. Xavier [...]
US expects to sue BP over spill September 14, 2010 OIL giant BP learned last night it could be hit by a civil lawsuit from the US Justice Department, as outgoing chief executive Tony Hayward prepares to face MPs over the Deepwater Horizon disaster today. The department said in a court filing on Monday that the US government “expects that it may file a civil [...]
Potash claims rivals will bid September 14, 2010 FERTILISER company Potash Corp is not considering a large stake sale to a third party or long-term production sharing agreements as serious options to block a sale to BHP Billiton, investors who met with the company said yesterday. Potash Corp chief financial officer Wayne Brownlee was in New York meeting with investors on Monday and [...]
We need real reforms as well as cuts September 14, 2010 IMAGINE a failing, near-bankrupt corporation, saddled with out of control and deeply inefficient subsidiaries. A new management team has just been sent in. The previous incumbents failed miserably; the firm’s divisions are loss-making, following their own insular agenda and producing poor products at too high a cost. In the private sector, the solution would be [...]
Warren eyes watchdog job September 14, 2010 AMERICAN President Barack Obama is close to appointing Wall Street critic Elizabeth Warren as his interim consumer finance regulator, according to reports last night. Lawmakers have pressed Obama to instead hire a permanent head for the new consumer financial protection agency, which would mean a fierce debate in the Senate over Warren’s suitability. Warren, 61, [...]