Chinese manufacturing tumbles March 22, 2012 Factory activity in China shrank for a fifth month in March, aggravating fears of a slowdown in the world’s second-largest economy. Initial results from Markit and HSBC’s manufacturing purchasing managers’ index (PMI) slowed to 48.1 from 49.6, representing a further fall in the sector as any score under 50 represents contraction. Losses in mainland Chinese [...]
Japan moves towards recovery March 22, 2012 Japan’s first trade surplus in five months and a revival of confidence among manufacturers yesterday added to evidence the economy is growing again as the yen weakens and external demand picks up, reducing the need for further monetary policy easing. Exports to the US rose by 11.9 per cent in the year to February – [...]
Boris pledges new deal for suburban rail March 22, 2012 BORIS Johnson has promised to secure specific improvements to London’s suburban rail services if he is re-elected, in the form of longer trains and enlarged stations. The Budget includes a pledge to consider further investment in the capital’s rail network, prompting Johnson (pictured) to assert that he is the best-placed candidate to win funds from [...]
Ryanair hit by setback in claim over payout March 22, 2012 BUDGET airline Ryanair yesterday lost the latest round in its legal battle to avoid paying for hotels, meals and drinks for passengers disrupted by delayed flights during the Icelandic volcano eruption in 2010. The European Court of Justice (ECJ) published an opinion indicating that airlines were not exempt from regulations requiring them to pay for [...]
TNT Post bids to rival Royal Mail’s service March 22, 2012 TNT POST is further encroaching on Royal Mail territory by launching an end-to-end delivery trial in London as part of a long-term plan to rival the government-owned postal service. Following a successful trial in Liverpool, TNT postal workers will hit the streets of west London from mid-April to test the waters for extending the company’s [...]
FedEx tops forecasts but warns on Europe impact March 22, 2012 A STRONG holiday season and mild winter helped FedEx top Wall Street’s profit forecast, but the world’s second-largest package delivery company warned that it had lowered its expectations for the rest of this year due to Europe’s weak economy. “The fourth quarter is still very good, but what we’re seeing at the moment is we [...]
Olympic Tube strike talks stall March 22, 2012 Talks to avoid a transport strike during the Olympics stalled yesterday, with union reps slamming London Underground for imposing “even more strings” on workers alongside an £850 bonus. Five days of negotiations broke down yesterday morning when the RMT union objected to what it said were unreasonable and “inherently unsafe” demands that staff work more [...]
Lovefilm leads on streaming March 22, 2012 Online streaming overtook DVD rental for the first time last month at Lovefilm, the Amazon-owned film subscription service which has over two million members. Movies and TV shows streamed via the internet exceeded the number of physical rentals by 20 per cent – despite a 25 per cent rise in DVD rentals – showing a growth of [...]
Profit growth for BrainJuicer March 22, 2012 BrainJuicer grew its pre-tax profits 24 per cent to £2.76m last year as revenues jumped 27 per cent to £20.7m. The online market researcher pointed to strong growth in the US, Germany and Switzerland and said the UK, which accounts for 42 per cent of revenues, grew operating profit 11.7 per cent to £4.54m. BrainJuicer ended the [...]
Jump in sales boosts United Utilities stock March 22, 2012 UNITED Utilities saw its share price climb yesterday after it indicated that both sales and profit were on track for the full-year. The FTSE-100 water company said full-year sales would increase by between three and four per cent, in line with analyst forecasts. “This increase is slightly below the allowed regulated price rise, principally reflecting [...]