German unemployment remains unchanged but labour market is strengthening July 31, 2013 German unemployment remained flat at a seasonally adjusted 6.8 per cent in July. However, the number of people unemployed in Germany fell by 7,000 to 2.934m, less than the 13,000 decline the month before, but beating analyst expectations of a fall of just 4,000. This unexpected fall is good news for Germany, but Christian Schulz, [...]
Taylor Wimpey enjoys boost from government lending schemes but doesn’t see planning system improving July 31, 2013 Housebuilder Taylor Wimpey has reported a 42.1 per cent increase in first half pre-tax profit to £109m citing improved consumer sentiment and government mortgage schemes. Chief executive Pete Redfern said there was a “meaningful improvement in the housing market” in the first half of the year and that Taylor Wimpey is “ideally positioned to perform [...]
French firm makes reduced offer for British engineer Invensys July 31, 2013 French firm Schneider has made an offer for British engineer Invensys, an announcement that was speculated about yesterday. The formal offer will be paid in cash and shares if accepted. At 502p per share, that offer is lower than what the firm originally suggested, 505p. That's probably because no other bidder came forward, despite speculation [...]
Moneysupermarket enjoys revenue growth ahead of new ad campaign but says Funding for Lending hitting savers July 31, 2013 Price comparison website Moneysupermarket.com has reported a ten per cent increase in group revenue to £112.3m and a 29 per cent boost in adjusted EBITDA to £39.9m (release). Looking ahead, Moneysupermarket said its July revenue was flat against a strong July 2012 when the new advertising campaign launched. This year’s new campaign launches in August. [...]
British American Tobacco confident of another good year of earnings despite fragile market conditions July 31, 2013 British American Tobacco has said it is confident of another year of good earnings despite persistently fragile economic conditions in Europe as it reported adjusted group profit from operations increased by six per cent at constant rates of exchange (release). While volumes were down 3.4 per cent at 332bn cigarettes, price rises pushed up sales [...]
Prolonged cold weather and price hike boost British Gas owner’s half year profits July 31, 2013 Centrica, owner of British Gas, has reported a rise in half-year profits after an unusually cold Winter increased gas demand (release). The group’s adjusted operating profit rose by nine per cent to £1.58bn for the period ended 30 June 2013. Adjusted earnings were up two per cent to £767m or 14.8p adjusted earnings per share [...]
Before the open – 31/07 – Investor caution ahead of Fed policy meeting, Japanese real wages fall July 31, 2013 The Nikkei fell on a raft of poor data last night, including the first drop in manufacturing purchasing managers’ index (PMI) since late last year and wage growth remained below rising inflation. Nomura’s measure of manufacturing PMI fell from 52.3 to 50.7 in July (where above 50 indicates growth), while labour cash earnings rose just [...]
Secret list of law firms and financial services firms that used convicted private investigators held back from public July 31, 2013 Some 22 law firms, nine insurance companies and eight financial services companies have commissioned work from private investigators convicted of illegally obtaining private information, the Home Affairs Select Committee has revealed, pressing the Serious and Organised Crime Agency to publish a secret list of businesses and individuals linked to the scandal. The list was compiled [...]
UK consumer confidence hits 39 month high in July July 30, 2013 UK consumer confidence has hit its highest level since April 2010, according to the GfK NOP index which rose by five points in July. Nick Moon, managing director of Social Research at GfK, comments: There is now no doubt that consumer confidence has recovered strongly from the unparalleled trough of the last five years. At [...]
Evraz stops production at Italian mill as steel plate market weakens July 30, 2013 Miner Evraz has announced that it is to stop operations at the Palini e Bertoli plate mill in Italy on 20 August (release). Evraz says that the suspension is expected to last until at least the end of October. EVRAZ Palini e Bertoli remains committed to duly perform under all existing arrangements and will execute all [...]