ISP tells customers that if they want Cameron’s censored internet they should move to North Korea July 24, 2013 Internet service provider Andrews & Arnold has told customers that if they want filtered internet – they should change providers or move to North Korea. The comments are a reaction to plans announced by Prime Minister David Cameron, who wants all internet to be filtered for adult content as default, with customers only able to [...]
Eurozone banks tighten credit standards despite plunging loan demand and better funding conditions July 24, 2013 The European Central Bank has reported an improvement in funding conditions among eurozone banks in the second quarter of the year, but a tightening of credit standards for both companies and mortgages despite expectations of a further fall in loan demand. In its latest bank lending survey, the ECB found that a net seven per [...]
Eurozone order books start to grow for first time since January 2012 July 24, 2013 Eurozone composite purchasing manager's index (PMI) has risen above 50, implying that order books are now finally starting to grow. PMI was last this high in Janaury 2012. Analysts had forecast a rise from 48.7 to just 49.3. Manufacturing was up from 48.8 to 50.1 (49.2 expected) and services rose from 48.3 to 49.6 (48.5 [...]
Petrofac president and executive director steps down after 22 years July 24, 2013 The president and executive director of FTSE 100 oilfield service company Petrofac Maroun Semaan has announced he will be retiring at the end of this year after more than 22 years with the company. Group chief executive Ayman Asfari said much of the growth the company has experienced is “directly attributable to Maroun” and thanked [...]
Tate & Lyle expect another year of profitable growth after a slow start in US July 24, 2013 British agribusiness Tate & Lyle says its outlook for 2013 has remained unchanged as adjusted operating profit in the period 1 April to 30 June 2013 was reported in line with expectations (release). As expected, a cold spring and slow start to summer in the US impacted negatively on sales volumes in its beverage sector, [...]
German manufacturing and services sectors their strongest since February July 24, 2013 Following some strong figures from France, purchasing manager's index (PMI) data for Germany has come in strong, at a composite five month high for manufacturing and service sectors. Analysts had forecast a manufacturing PMI rise from 48.6 to just 49.4 – which under 50 would still imply contraction – but a strong 50.3 means that [...]
Spell of hot weather jumpstarts B&Q owner’s ailing sales July 24, 2013 Kingfisher, Europe’s biggest home improvements retailer and owner of B&Q and Screwfix, has reported like-for-like sales at its UK and Ireland stores open more than a year were up 2.5 per cent in the ten weeks to 13 July, thanks to the spell of hot weather (release). Total group like-for-like sales were also up 2.5 [...]
EasyJet shares are flying high as pre-tax profits are set to rise by over 40 per cent July 24, 2013 Airline easyJet has announced that it expects pre-tax profits of £450-480m this year, a rise from £317m in the last period, "assuming no further significant disruption" (release). Total revenue for the third quarter grew by 10.5% to £1,142 million, driven by a 3.6% increase in capacity and improvement in revenue per seat. … With 73% [...]
French manufacturing and services order books more promising in July July 24, 2013 In the first of a string of diffusion index releases scheduled for today, French manufacturing and service sectors both look more promising than analysts had hoped for. The Markit purchasing manager's index (PMI) for manufacturing rose from 48.4 to 49.8 (48.8 expected) and services improved from 47.2 to 48.3 (47.7 expected). As both PMIs are [...]
Before the open – 24/07 July 24, 2013 We're expecting a muted start to European markets after China saw some grim manufacturing data overnight. HSBC's manufacturing PMI saw 11-month lows, at just 47.7, implying that the contraction in the sector is accelerating. $FTSE flat on open despite weaker Chinese Manufacturing Data. UK – ARM 2Q rev sales in line. $BLND IMS, $KGF lfl [...]