Moneysupermarket is stable July 6, 2009 Moneysupermarket.com, the price comparison website, yesterday said it expected its results for the first half of 2009 to be in-line with previous expectations as it updated the market. The website said its financial performance has remained broadly consistent with the situation outlined in mid-April. In April the company said its revenues were one third lower [...]
Rio Tinto sale helps pay off its Alcan debt July 6, 2009 MINING giant Rio Tinto boosted its cash position yesterday, selling its Americas food packaging company to US group Bemis $1.2bn (£740m). Rio said that $200m of the sale proceeds may be in the form of Bemis shares.Rio, which last week raised $15.2bn through a massively discounted rights issue, is looking to slash the debt it [...]
Traders: Recovery is not near July 6, 2009 TWO thirds of traders say the economy is still at least 12 months away from recovery and have concerns over the ability of Britain’s politicians to guide the country out of the recession, according to a survey by spread-betting firm Capital Spreads. More than a quarter of the 2,200 traders polled believed that economic stability [...]
US services see slowing pace of decline in June July 6, 2009 US SERVICE industries contracted in June at a slower pace than expected according to data published yesterday by the Institute for Supply Management (ISM), recording 47.0 in June, a rise of three points from May. The ISM non-manufacturing survey is now at a level consistent with a very modest expansion in GDP of roughly 0.5 [...]
Capital couture sales rocket July 6, 2009 Dior is seeing its London business boom as tourists take advantage of the weak pound. The famous fashion house is experiencing double-digit sales growth in Britain, according to chief executive Sydney Toledano.
Dutch attempt to save jobs July 6, 2009 Dutch department store V&D, which is part-owned by private equity firm Kohlberg Kravis Roberts, wants staff to delay until February pay rises in a bid to prevent jobs being lost in the recession. If successful, it will limit redundancies to around 60.
London sildes down table July 6, 2009 London is now the 16th most expensive city in the world to live in, according to a report by Mercer, marking a significant drop from third only one year ago, largely due to the fall of the pound against the dollar. Japan is strongly represented with Tokyo and Osaka coming first and second, respectively.
NFB promotes Rupert Perkins July 6, 2009 The National Federation of Builders has appointed Rupert Perkins as its new chairman. The NFB represents small and medium-sized construction companies throughout England and Wales. Perkins was previously the chairman of the National Federation of Builders’ south west executive board and finance group.
The rich just don’t care July 6, 2009 Brazilian president Luiz Inacio Lula da Silva said yesterday that rich countries are doing nothing to help poorer ones through the global economic crisis. “I am seeing little being done by the rich countries in the help they are supposed to give,” he said in advance of this week’s meeting in Italy of the G8 [...]
CITY MOVES Who’s switching jobs July 6, 2009 BDO Stoy HaywardThe accountancy firm has hired three new partners to its London business restructuring team. Danny Dartnaill joined BDO in 2003 and has recently been involved in high-profile restructurings in the retail and asset management sectors. Nick Goldstone, who joined the firm in 2002, specialises in the leisure and hospitality sector, while insolvency practitioner [...]
