Concern over Portuguese banks as second bailout looms September 25, 2013 Worries continue to mount over the health of the Portuguese banking sector. Analysts at Nomura find that the Portuguese banks underperformed the sector by nine per cent. When compared to other banks in the banks in the troubled Mediterranean companies the situation looks even more dire. When compared to Spain underperformance of the Portuguese banking [...]
Laura Ashley sees retail sales fall owing to variable weather September 25, 2013 Retailer Laura Ashley has seen like-for-like retail sales fall 2.2 per cent in the first half of this year. In the 26 weeks to 27 July 2013, the company reported that underlying pretax profit, excluding exceptional items, fell by £0.5m to £7.8m. Total group sales were down 5.6 per cent at £137.3m which, the company's [...]
Amazon unveils new Kindle Fire HDX tablets September 25, 2013 Amazon has unveiled two new Kindles. The Kindle Fire HDX includes a new feature which allows users to open an video chat with a tech-support to instruct the user how to operate the new device. Chief executive Jeff Bezos, speaking to reporters at Amazon headquarters in Seattle said of the new feature named the 'May Day [...]
Reed Elsevier announces resignation of CFO Duncan Palmer September 25, 2013 Information provider Reed Elsevier has announced the resignation of its chief financial officer Duncan Palmer, owing to family circumstances. (Release) Chief executive Erik Engstrom explained that Palmer needs to return to the US, but his contribution to the company makes it disappointing to see him go. Reed Elsevier is a leading publisher and information provider [...]
Less confidence for businesses in France September 25, 2013 Business confidence in France has diminished this morning with Semptember's business climate index coming in at 97, after it was predicted at 99, up from last month's 98. The point decrease for September shows a pausing in the industrial business sector:
Before the open: markets remain lackluster as Fed indecision continues September 25, 2013 With the Fed's message on tapering somewhat muddled, US markets remain dulled for a fourth day, following last week's highs. This, along with the impending debt ceiling debate and potential for government shutdown over Obamacare, is also slowing down European markets, which are expected to open lower this morning. Just over half an hour to [...]
Labour declares war on business September 24, 2013 Miliband hits energy firms with plot for £4.5bn price freeze British Gas owner Centrica threatens to quit UK over plan Policies on tax, energy and construction slammed ED MILIBAND yesterday launched an extraordinary attack on swathes of British business as he returned his party to its left-wing roots by unveiling a range of punitive policies [...]
Centrica labels Labour plan as a recipe for ruin September 24, 2013 BRITAIN’S big six energy companies yesterday lambasted Labour leader Ed Miliband’s pledge to freeze energy bills until 2017, saying his planned reforms could financially ruin firms and discourage infrastructure investment. Sir Roger Carr, chairman of British Gas owner Centrica, said Labour’s plan to implement price controls could leave companies in a vulnerable position. “When costs [...]
Business groups tear into Labour plan to scrap corporation tax cut September 24, 2013 BUSINESS groups lined up to pan labour leader Ed Miliband’s promise to reverse a planned corporation tax cut yesterday, in broad agreement that recent reductions had been a positive development. The treasury has reduced corporation tax from 28 per cent to 23 per cent so far in government, with plans to reduce it further to [...]
Developers deny landbanking as Miliband vows to fine building firms sitting on valuable plots September 24, 2013 THE CONSTRUCTION industry yesterday rejected Ed Miliband’s suggestion that Britain's housing supply issues are caused by developers hoarding land, amid criticism of his willingness to confiscate land if firms that do not get building. “We will say to private developers you can’t just sit on land and refuse to build,” the Labour leader told his [...]