US resists ratings regulation August 5, 2009 THE Obama administration is resisting calls to help ensure that credit ratings are reliable, saying this would force investors to rely even more on the ratings. Although credit rating agencies have been accused of assigning top ratings to complex securities that later crumbled in value, the government should not be in the business of regulating [...]
Hovis market share boost lifts Premier Food profits August 5, 2009 PREMIER Foods yesterday met forecasts with a six per cent rise in first-half profits, helped by market share gains for its Hovis bread and a growing trend among recession-hit Britons to eat at home. Premier, which also makes Mr Kipling cakes and Bisto gravy, said operating profit from continuing business before one-off items and goodwill [...]
Carpetright shares surge as it rolls out the first positive results for two years August 5, 2009 CARPETRIGHT shares rocketed yesterday after it surprised investors by reporting rising sales for the first quarter of this year. The UK’s biggest carpet retailer yesterday closed up 14 per cent to 757p after announcing like-for-like sales had increased by 1.4 percent in the 13 weeks to 1 August, the first rise since the fourth quarter [...]
WS Atkins posts flat first-quarter sales but jobs to go as cost-cutting continues August 5, 2009 ENGINEERING consultancy WS Atkins said first-quarter revenues were broadly flat but that it had cut more jobs during the period to combat challenging trading conditions in many of its markets. The company, which provides architectural, design and construction services, yesterday said the UK building design and utilities markets were still soft and that business in [...]
BEST OF THE BROKERS August 5, 2009 NATIONAL EXPRESSInvestec has retained its “buy” recommendation for National Express. It says that a month of high drama including takeover approaches and a profits warning has left the company fighting for its future. But the broker still believes that despite a likely break-up, the group is trading in line with its peers and therefore risks [...]
M&A deals fall by 50 per cent August 5, 2009 Private equity and trade M&A activity declined for the sixth successive quarter with less than half the number of deals being completed in Q2 2009 compared to the same period in 2008, according to new research from accountants and business advisers BDO Stoy Hayward. But BDO’s indices have found that despite the fall in activity, [...]
Holiday Inns relaunched August 5, 2009 IHG will announce today that almost 25 per cent of Holiday Inn hotels in the UK – a total of 50 – have now been relaunched. Kew Green Hotels, one of IHG’s biggest hotel owners in the UK, relaunched all 15 of their Holiday Inns this month alone and is the first owner outside of [...]
Serie A joins ESPN line up August 5, 2009 ESPN yesterday announced it has secured an exclusive deal sto broadcast up to three live Serie A matches per week for the 2009/10 season. Featuring some of the world’s greatest players, including recent Inter Milan signing Samuel Eto’o Serie A is one of the most popular leagues in the world.
BA passenger figures show improvement August 5, 2009 BELEAGUERED British Airways (BA) said yesterday it carried one per cent more passengers in July than in the same period a year before, and added that further gains were expected over the rest of the summer. The news comes after the airline reported its first ever first quarter loss last week, and said it saw [...]
UBS tax deal due tomorrow August 5, 2009 THE US and Switzerland are expected to reach a final settlement tomorrow to end a tax row against UBS, but details of the deal will not be made public the same day, sources familiar with the situation said. US tax authorities have sued UBS as the bank refused to hand over the names of 52,000 [...]