Platinum output tumbles at Anglo American January 25, 2013 Global miner Anglo American’s platinum production sank 29 per cent over the fourth quarter, due to the strikes that crippled the company last year. The miner said this morning that 272,590 ounces of platinum production were lost over the quarter as a result of the strikes and subsequent ramp-up of operations at the Rustenberg, Amandelbult [...]
FTSE 100 smashes through 6,200 barrier January 24, 2013 The blue chip index edged up in early trades, and smashed through the 6,200 barrier although disappointing results from US technology behemoth Apple weighed on sentiment. The company posted record profits last night, but warned of lower revenue growth in the coming months, which sent its shares down more than 10 per cent in after-hours [...]
Ladbrokes snaps up Betdaq in €30m deal January 24, 2013 Bookmaker Ladbrokes has snapped up Irish betting exchange Betdaq for €30m (£25m). Ladbrokes said earlier this month it was in talks with the online bookie, which is owned by Irish millionaire Dermot Desmond. Ladbrokes has also agreed to acquire a 10 per cent stake in TBH Guernsey Limited, the technology provider to Betdaq, for €4m. [...]
Greggs appoints Punch Taverns head as new chief executive January 24, 2013 Bakery chain Greggs has appointed the chief executive of Punch Taverns as its new head, to take over from Ken McMeikan. Roger Whiteside, chief executive of the pub group, will take up the role with effect from 4 February. He has been a non-executive director of Greggs since 2008. Aside from Punch Taverns, Whiteside has [...]
Chemring profit tumbles in tough year January 24, 2013 Defence equipment manufacturer Chemring this morning said pre-tax profit sank 42 per cent over the year to October, in a difficult year that has seen profit warnings and collapsed takeover talks. The company, which makes defence equipment such as flares and explosive device detectors, said underlying pre-tax profit fell to £70.1m, down from £120.2m over [...]
Lloyds Banking Group axes 940 jobs January 23, 2013 Lloyds Banking Group said today it cutting 940 jobs, bringing the total axed since the takeover of HBOS in 2009 to more than 31,000. The jobs will go from the group operations, insurance, retail, wealth and international and commercial divisions, and Lloyds said they form part of the previously-announced strategic review. The bank said it [...]
Unilever boosts FTSE 100 as it edges towards 6,200 January 23, 2013 The leading share index edged up towards the 6,200 level this morning, led by consumer goods group Unilever. The stock was the strongest riser on the FTSE 100 this morning, on the back of a buoyant trading statement. Turnover jumped 10.5 per cent in 2012, boosted by growth in emerging markets. Martin Deboo at Investec [...]
UK unemployment total drops to 2.49m January 23, 2013 The number of unemployed people fell by 37,000 to 2.49m over the three months to November 2012, a drop of 185,000 on the previous year. The figure is the lowest since the three months to May in 2011. Official figures from the Office for National Statistics this morning showed that the number of people on [...]
WH Smith upbeat despite drop in sales January 23, 2013 WH Smith this morning posted a drop in sales over the Christmas period, although it said improved margins helped to underpin profits. The stationery and books retailer posted a five per cent drop in like for like sales over the 20 weeks to 20 January. In its high street stores, like for like sales fell [...]
Flybe axes 300 jobs in turnaround plan January 23, 2013 Airline Flybe is to cut around 300 jobs, or 10 per cent of its UK business, in a bid to cut costs. The job cuts, as part of a wider turnaround plan, will include a 20 per cent reduction in management headcount and a 10 per cent reduction in overhead and production headcount. The cost [...]
