Costa owner Whitbread sees strong growth despite unimpressive restaurant results October 22, 2013 Costa Coffee and Premier Inn owner Whitbread has reported strong interim results, with profit before tax up 12.6 per cent at £216.1m and a 12.4 per cent revenue increase in the six months to August. (Release) Whitbread, who also owns Beefeater Grill, saw like-for-like sales up 2.8 per cent for the period, and have increased [...]
BHP Billiton ups guidance on strong iron performance October 22, 2013 The world's largest miner BHP Billiton has announced 11 per cent production growth in the third quarter ending 30 September, raising its 2014 financial year guidance to 212m tonnes for Western Australian Iron Ore (WAIO). Iron ore production rose by 23 per cent in the quarter to September to 49m tonnes. (Release) BHP Billiton chief executive officer, [...]
What you need to know before the open – 22/10 October 22, 2013 US markets remained almost unchanged from last week yesterday, with September employment data being released later today. The expectation is that this'll mean a fairly understated open for European markets. ASIA/PACIFIC STOCKS: Nikkei 225 +0.13% (close), Hang Seng -0.39% , ASX 200 +0.40% (close), Shanghai Comp -0.71% — DailyFXTeamMember (@DailyFXTeam) October 22, 2013 ETX Capital [...]
Nuclear deal to cost £1bn a year October 21, 2013 EXPERTS have warned that consumers could be faced with an annual bill of £1bn to subsidise Hinkley nuclear plant if wholesale electricity prices fall below the price the government has guaranteed EDF. The UK government and the French energy firm yesterday unveiled the terms of a long-awaited deal to build Hinkley Point C in Somerset, [...]
UK construction bounces back from doldrums October 21, 2013 AFTER years in the doldrums, the construction sector recorded rising workloads in every part of the UK during the third quarter, according to upbeat figures released today. The Royal Institution of Chartered Surveyors’ (RICS) construction market survey shows the most widespread increase in workloads in nearly ten years, since the middle of 2004. Business activity [...]
Libor probe investigators have contacted 22 people October 21, 2013 THE SERIOUS Fraud Office is in touch with 22 people as part of the investigation into Libor-rigging, a court heard yesterday. The watchdog wrote to the individuals last month, following Tom Hayes’ arrest last December. The former UBS and Citigroup trader appeared at Southwark Crown Court yesterday alongside James Gilmour and Terry Farr, both former [...]
Top Goldman exec Michael Evans retires October 21, 2013 GOLDMAN Sachs’ vice-chairman Michael Evans yesterday revealed he is retiring from the bank after more than 20 years. He is stepping down at the end of the year and will take up a position as senior director, an advisory role. Evans is currently global head of the bank’s Growth Markets business. “We particularly appreciate the [...]
What the other papers say this morning – 22 October 2013 October 21, 2013 FINANCIAL TIMES Bundesbank warns on apartments The Bundesbank has warned that apartment prices in Germany’s biggest cities could be overvalued by as much as 20 per cent, stepping up its concern about a real estate boom there. Obama admits botched health launch Barack Obama, who forged his political career by harnessing the power of the [...]
Dimon defies JP Morgan critics October 21, 2013 JP Morgan’s boss Jamie Dimon yesterday insisted he is “damn proud” of the bank, despite the $13bn (£8bn) mortgage-related settlement which it is believed to have agreed with US regulators. “I am so damn proud of this company,” the bank’s chairman and chief executive told CNBC. “That’s what I think about when I wake up every [...]
Warren Buffett slashes Tesco stake October 21, 2013 Investment guru Warren Buffett has sold more than £300m of his stake in Tesco, a stock market filing showed yesterday. That amounts to around one-fifth of his investment group Berkshire Hathaway’s holding in the supermarket chain. It comes just two weeks after Tesco reported a 68 per cent fall in mainland Europe profits in the [...]