Viacom declares first dividend June 9, 2010 Viacom declared its first quarterly dividend yesterday and reinstated a stock repurchase program, addressing questions about how it would invest its extra cash. Viacom, the only major US media company that had not been paying a dividend, set a quarterly dividend of 15 cents a share. The owner of film studio Paramount Pictures along with [...]
Britain’s trade gap widens June 9, 2010 BRITAIN’S goods trade deficit with the rest of the world was wider than expected in April – after disruption to air traffic as a result of the Icelandic volcanic ash cloud, official figures have showed. The Office for National Statistics said Britain’s goods trade deficit with the rest of the world widened to £7.279bn in [...]
Germany and France in new call for short selling ban June 9, 2010 GERMANY and France have written a joint letter to the European Commission urging it to ban short selling of shares and sovereign bonds. Chancellor Angela Merkel and French President Nicolas Sarkozy told European Commission President Jose Manuel Barroso the EU executive needed to accelerate the pace of financial reform. Brussels ought to accelerate efforts to [...]
JD Sports boosted by World Cup June 9, 2010 JD Sports Fashion has seen a return to growth after sales were boosted by the World Cup. The group, which trades as JD Sports, Chausport, Size, Bank and Scotts from over 530 stores, said on Wednesday sales at UK and Irish shops open at least a year rose 4.1 per cent in the 18 weeks [...]
Property giants in £1.6bn merger June 9, 2010 THE F&C Commercial Property Trust and UK Commercial Property Trust have agreed to merge, creating Britain’s sixth largest listed property company worth around £1.6bn. The tie-up, designed to boost investor pulling power as Britain fights to ward off a second property slump, will be effected by a solvent liquidation of FCPT, the issue of new [...]
Cameron told to stand up for BP June 8, 2010 PRESSURE was growing on Prime Minister David Cameron last night to defend BP, the oil giant that has been under constant attack by US politicians in the wake of the Gulf of Mexico disaster. As BP’s share price fell again yesterday closing 4.97 per cent lower at 408.9p, President Barack Obama launched a scathing attack [...]
Osborne: Large cuts are coming June 8, 2010 GEORGE Osborne yesterday told ministers to prepare for the toughest spending cuts in a generation as rating agency Fitch warned the UK faced a “formidable challenge” in reducing its yawning £156bn deficit. His comments came as Fitch warned Britain’s triple-A credit rating was at risk because its public debt had risen more quickly than any [...]
City investors round on Pru June 8, 2010 AT LEAST two of Prudential’s top 10 shareholders will meet with the company’s directors to demand a change of management after its failed bid for AIA, according to a report last night. Legal & General Investment Management and Fidelity, who between them control nearly eight per cent of the insurer, are understood to want a [...]
Osborne hints at truly radical change June 8, 2010 IT was not exactly the most convincing of public relation stunts – and predictably enough, George Osborne’s pledge yesterday to engage the public in consultations on the upcoming spending review in a way which would “strengthen and unite” the country was met with some derision. It is hard to imagine that anybody who works in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 8, 2010 FINANCIAL TIMES GREECE SEEKS INVESTMENTS FROM LIBYA George Papandreou will travel to Libya today for talks with?Muammer Gaddafi on possible investments in Greece as Athens struggles with its debt crisis. The Greek prime minister will discuss potential investments by Libya’s sovereign wealth fund and its state-owned energy groups with the country’s leader, officials said. EMERGING [...]