Rising profits on the menu for Compass May 13, 2009 Richard Cousins joined Compass in 2006, after former boss Mike Bailey issued three profit warnings in a year
WHAT THE OTHER PAPERS SAY THIS MORNING May 13, 2009 FINANCIAL TIMESCCB SHARE DEAL VOLUME SURGES AFTER BANK OF AMERICA SELL-DOWNThe volume of share dealing in China Construction Bank soared yesterday, fuelling speculation that some buyers of Bank of America’s $7.3bn (£4.8bn) sell down had flipped their holdings to pocket huge gains. The troubled US bank on Tuesday sold 13.5bn shares in the mainland lender [...]
VT Group battens down the hatches despite high profits May 13, 2009 Support Services firm VT Group said yesterday it was looking to contract, despite reporting a better-than-expected 41 per cent surge in underlying profit, and upping its dividend by 10 per cent. VT is expecting to do well as cost-conscious firms look to save money by outsourcing, but wants to slim down to prepare for a [...]
Banks’ borrowing costs drop May 13, 2009 The cost of borrowing between banks fell the most in almost two months yesterday in a sign that confidence is returning to markets. The London interbank offered rate (Libor) that banks charge each other for three-month loans dropped to pre-March levels indicating banks are now more willing to lend cash. Three-month dollar Libor rates fell [...]
Retail sales dip in US May 13, 2009 US retail sales fell 0.4 per cent in April, dashing hopes that consumer spending was starting to revive and would help end the recession. Economists said families who are worried about layoffs and unpaid job furloughs are saving more and spending less, delaying the start of a sustained recovery. Retail sales had posted gains in [...]
DRIVING SHARES DOWN May 13, 2009 SHARES in ailing automaker General Motors (GM) tumbled to their lowest since the 1930’s yesterday, on the back of senior executives at the company selling off $315,000 (£206,000) of GM’s stock. Chief executive Fritz Henderson (pictured) said earlier this week the company was likely to file for a Chapter 11 bankruptcy.
MPs rush to remedy row with cheques May 13, 2009 FORMER agriculture minister Elliot Morley was last night revealed to have claimed parliamentary expenses of more than £16,000 for a mortgage that did not exist. Morley continued to claim for the mortgage interest on his constituency home for more than 18 months after the loan had already been paid off. This latest revelation is regarded as the [...]
Pub groups’ stocks plummet as MPs side with tenants on tie-in system May 13, 2009 SHARES in pub groups nosedived yesterday after the commons Business and Enterprise Select Committee recommended the tenant tie-in system should be referred to the Competition Commission.The tie-in model prevents pub tenants from taking beer supplies from other companies. Shares in Enterprise Inns yesterday plummeted by 26.4 per cent, while Punch Taverns stock fell by 13 [...]
Carrick strike brings United within reach May 13, 2009 SIR ALEX FERGUSON insisted he will not be taking Arsenal lightly on Saturday despite needing just one point to be crowned Premier League champions. Michael Carrick’s winner four minutes from time handed United a hard-fought victory over brave Wigan, meaning Ferguson’s men need just avoid defeat against the Gunners to clinch a record-equalling 18th itle. [...]
Trinity sheds a third of its ad revenues May 13, 2009 TRINITY Mirror said yesterday that group revenues fell 18 per cent in the first 17 weeks of the year, dragged down by ad sales falls of 30 per cent. The Daily Mirror publisher gave a cautious outlook for the full year – but said it expects the combination of cost savings, operating efficiencies and robust [...]
