Royal Dutch Shell bows out of a troubled refinery in France December 4, 2012 SHELL will not extend its six-month oil processing contract with troubled French Petit-Couronne refinery beyond mid-December, which will make the refinery less attractive for potential buyers, the plant’s union spokesman said. The refinery stopped production on 10 January, before restarting operations in June under a deal with Royal Dutch Shell, the former owner, to deliver [...]
Internet treaty talks stutter December 4, 2012 A US and European proposal to protect the internet from new international regulation failed to win prompt backing from other countries yesterday, setting up potentially tough negotiations to rewrite a new treaty. Countries such as Russia, and some in the Middle East, want to obtain powers over the internet in order to gather personal information [...]
Pre-tax profits fall at Northgate December 4, 2012 White van hire group Northgate said yesterday its profit before tax for the six months to 31 October were £28.1m – down 13 per cent on last year’s figure of £32.3m. But the firm, often viewed as a bellwether for activity among small businesses, said it had continued to grow despite the challenging trading, with [...]
Boeing predicts $100bn market December 4, 2012 Buyers of commercial jetliners are likely to draw more financing from capital markets in 2013, as the value of jet sales rises about 9.5 per cent to a record $104bn (£64bn), Boeing said yesterday. Capital markets will account for about 14 per cent of total jet financing, up from 10 per cent this year, Boeing [...]
Who’s switching jobs December 4, 2012 Aon Hewitt The human resources consultancy has appointed Andrew Woolnough as client development director in its flexible benefits team. He was most recently head of flexible benefits at Enrich Reward, and has also held senior roles at Jelf Group. JP Morgan Private Bank The private bank has announced two new appointments to its London-based South [...]
Best of the Brokers December 4, 2012 TESCO Espirito Santo has downgraded the supermarket giant from a “hold” guidance to a “sell” and cut the price target from 300p to 275p, warning of a drop in profit margins. CWC Barclays has upgraded the telecoms firm to an “equal weight” rating, and upped its target by 32 per cent to 41p following CWC’s [...]
FTSE 100 flat on US budget uncertainty December 4, 2012 The FTSE 100 was broadly flat in early trading as uncertainty continued over the fate of US budget talks to avert January’s so-called “fiscal cliff”. The White House has dismissed a budget deal proposal from congressional Republicans that included tax reforms and spending cuts, saying it did not meet President Barack Obama’s pledge to raise [...]
Greene King boosted by diners December 4, 2012 Brewer Greene King today announced strong sales growth for the 24 weeks to 14 October 2012, largely thanks to strong sales at the pubs it controls. Total revenue was £566.2m, up from £527.5m for the same period last year, leaving operating profits of £122.7m. “Our team has delivered another strong trading performance driven by 17 [...]
British retail sales pick up in November December 4, 2012 UK retail sales improved slightly in November, according to figures released today by the British Retail Consortium. Like-for-like retail sales rose by 0.4 per cent in value compared to the same month last year, after falling 0.1 percent in October. Despite this analysts had hoped for stronger growth. Total retail sales rose 1.8 per cent [...]
UK is facing a lost decade for growth December 3, 2012 CITY leaders yesterday raised new concerns about the pace of growth in the Western economies after experts warned countries were facing more than a decade of economic stagnation. The gloomy warnings will send a stark reminder to chancellor George Osborne ahead of tomorrow’s Autumn Statement of the growth challenges facing Britain and its debt pile. [...]