Firms going ex-dividend hit FTSE 100 February 13, 2013 The leading share index fell this morning, ending a three-session rally as it was weighed down by a number of blue chips going ex-dividend. Pharmaceutical giant AstraZeneca led the fallers, shedding more than three per cent as it went ex-dividend. Business software provider Sage and oil giant BP fell 1.63 per cent and 1.44 per [...]
CBI says UK will avoid triple-dip recession February 13, 2013 The UK will avoid a triple-dip recession in 2013, according to business lobby group the CBI, although growth will be lower. The business lobby said this morning that the economy would expand by 0.3 per cent in the first quarter of the year, and stay between 0.3 and 0.4 per cent for the rest of [...]
Health and hygiene arm boosts Reckitt Benckiser February 13, 2013 Consumer goods group Reckitt Benckiser beat expectations over the full year, as sales of health and hygiene products led growth. The FTSE 100 consumer giant posted net revenue of £9.6bn over 2012, and full-year adjusted earnings per share of 264.4p, up seven per cent. Chief executive Rakesh Kapoor has shifted focus to fast-growing emerging markets [...]
Crest Nicholson float values firm at £553m February 13, 2013 Crest Nicholson this morning set a price of 220p a share for its London IPO, valuing the company at £553m. The property group said today it expected to raise gross proceeds of around £224.9m, comprising a primary component of £56m and secondary sales of £168.9m from existing shareholders. The shares will start trading on the [...]
G7 fails to halt currency wars February 12, 2013 INTERNATIONAL leaders yesterday failed in their attempt to reassure investors that a currency war would not be allowed to escalate, after a joint-statement failed to convince analysts and prompted sharp fluctuations in the foreign exchange markets. Finance ministers of the Group of Seven leading nations, known as the G7, sought to reaffirm their “commitment to [...]
“We’ve never been stronger” – Tim Cook says Apple is at top of its game February 12, 2013 APPLE chief executive Tim Cook sounded a bullish note at a Goldman Sachs event yesterday, reassuring investors that “limit” was not a word in his vocabulary, and that the firm remained a “centre of innovation”. Speaking ahead of the bank’s annual technology and internet conference, Cook acknowledged the lawsuit brought against the firm by David Einhorn’s [...]
Comcast to buy stake in NBCUniversal February 12, 2013 US CABLE provider Comcast is to buy out General Electric’s (GE) entire 49 per cent stake in NBCUniversal for $16.7bn (£10.7bn), taking full control of the company behind CNBC and Universal Studios. The deal, which was announced late last night, comes more than a year ahead of the original date that was agreed when GE [...]
Retailer Republic poised to fall into administration February 12, 2013 REPUBLIC, the youth fashion retailer, is poised to become the latest high street name to collapse into administration, putting 1,000 jobs and 121 stores at risk. Ernst & Young has been lined up as administrators and the appointment is expected to be confirmed this morning. The group’s demise marks the latest in a string of [...]
What the other papers say this morning February 12, 2013 FINANCIAL TIMES IT groups’ tax accounts face scrutiny MPs are preparing to scrutinise the tax affairs of IT companies that supply the public sector before a crackdown on aggressive avoidance by contractors that receive billions from taxpayers. The public accounts committee has confirmed that it is considering calling in some of the IT sector’s biggest [...]
Infrastructure plan attacked February 12, 2013 LABOUR yesterday accused the government of failing to take decisive action and build large-scale projects that could help kickstart the economy. The party’s analysis of the government’s national infrastructure plan suggested only seven out of the 576 major building projects on the list have been completed, while just only 18 per cent are under construction. [...]