Anglo American chief unveils management shake-up July 26, 2013 FTSE 100-listed miner Anglo American today reported a 15 per cent decrease in half-year operating profit to $3.3bn (£2.2bn), alongside a shake-up of its management team. The company’s ten business units will be consolidated into six groups and Tony O’Neill has been appointed group director – technical. He has 35 years of mining experience and [...]
ITV acquires Shaun of the Dead producer July 26, 2013 ITV has announced it has acquired 100 per cent of Big Talk Productions, producer of programmes like Friday Night Dinner and Him & Her, as well as films like Shaun of the Dead, Hot Fuzz and The World’s End. ITV will pay an initial cash consideration and further capped cash payments depending on Big Talk's [...]
Pearson first-half profits fall 62pc July 26, 2013 BRITISH publisher Pearson today posted a 62 per cent fall in half-year operating profits to £20m, as it continues its restructuring programme to focus on emerging markets and digital services. The Financial Times-owner said adjusted earnings per share fell 33 per cent to 9.9p over the period, but sales rose seven per cent, with outlook [...]
BSkyB revenues rise ahead of BT battle July 26, 2013 BRITISH Sky Broadcasting (BSkyB) today posted a seven per cent increase in full-year revenues to £7.2bn, as it gears up for a battle with an increasingly aggressive BT. The satellite broadcaster’s earnings rose eight per cent to £1.7bn and operating profit rose nine per cent to £1.3bn over the period. With mere weeks to go [...]
Abe says election win will help Japan deliver decisive “third arrow” reforms July 26, 2013 Japanese prime minister Shinzo Abe has said the revolving door of politics is over and promised greater certainty on economic reform, following his parliamentary upper house election win last week. Speaking at the 33rd Singapore lecture on economics and relations with southeast Asia, Abe said he would focus on the “third arrow” of reform in [...]
Restructuring charges drag down Pearson profits July 26, 2013 British publisher Pearson has reported a 26 per cent drop in adjusted operating profit to £137m following £27m of gross resturcutring charges and investment in new product launches. Adjusted earnings per share fell to 4.9 pence from 9.9 pence, below analyst expectations of 10.6 pence. However, sales showed a strong five per cent growth, coming [...]
Three charts: French consumer confidence up, expected unemployment down, and inflation fears resurface July 26, 2013 (Source: INSEE) French consumer confidence has risen from 79 (revised from 78) to 82 in July, while economists forecast just a one point increase from that unrevised figure to 79 (release). In July, households were largely less numerous than in June to forecast an increase in unemployment. The corresponding balance lost 17 points and reached [...]
Before the open – 26/07 July 26, 2013 The FTSE is expected up slightly after a strong US earnings season yesterday. Grant Lewis, Daiwa Capital Markets: Yet more good data vindicating Abenomics overnight, with the latest CPI data coming in a little stronger than expected. Headline national CPI came in at 0.2%Y/Y in June, taking this index back into positive territory for the [...]
Sky announces £500m share buyback as dividend sees ninth consecutive rise July 26, 2013 British Sky Broadcasting has announced a £500m capital return to shareholders via share buy-back, as it releases results for the year ended 30 June (release). The firm saw profit before tax rise to £1,257m from £1,189m in the same period last year and has seen 150,000 customers sign up for its new Sky Go Extra [...]
Miner Rio Tinto announces £670m investment in water supply project July 26, 2013 Rio Tinto has announced a $1.30bn (£670m) investment in a new 2,500 litre per sector seawater desalination facility to supply water to Escondida mine in Chile, in which Rio Tinto has a 30 per cent interest (release). The project will provide a sustainable supply of water for the new OGP1 copper concentrator approved in February [...]