Unilever sales propelled by emerging markets January 23, 2013 Consumer giant Unilever this morning posted a 10.5 per cent jump in turnover, boosted by growth in emerging markets. The Anglo-Dutch group said sales for the full year came in at €51.3bn (£43bn), in line with forecasts. Emerging markets sales, which represent 55 per cent of turnover, soared 11.4 per cent, Unilever said. “These results [...]
FTSE 100 dragged down by Pearson and Fresnillo January 22, 2013 The FTSE 100 was trading modestly down this morning, although it was still near its highest level in four and a half years. On the blue chip index, education giant Pearson continued its losses from yesterday and shed 2.33 per cent this morning. Yesterday it warned that annual profits would be lower than expected amid [...]
SABMiller reports weak Chinese demand January 22, 2013 Weak growth in China held back SABMiller in the three months to December, as lager volumes fell three per cent. The decline in China, which SABMiller said was mainly due to an “exceptionally cold and wet winter” across the country, weighed on lager volumes in the Asia Pacific region, which overall fell by one per [...]
Bumi unable to substantiate claims in Macfarlanes probe January 22, 2013 London-listed coal miner Bumi has received the final conclusions of the Macfarlanes report but is unable to release details, it said this morning. City law firm Macfarlanes was appointed in September to investigate allegations of potential financial irregularities at Bumi’s Indonesian arm, Bumi Resources. The FTSE 250 miner, founded in 2010 as cash shell Vallar, [...]
Bank of Japan agrees inflation target and monetary easing January 22, 2013 The Bank of Japan (BOJ) has agreed to double its inflation target to two per cent and introduce open-ended monetary policy easing in its most determined effort yet to end years of economic stagnation. The central bank said that from next year it would switch to an open-ended approach of buying assets – 13 trillion [...]
Sir Stuart Rose appointed new Ocado chairman January 22, 2013 Online grocer Ocado has appointed former Marks & Spencer chief executive Sir Stuart Rose as its new chairman. Sir Stuart will succeed Michael Grade as chairman following Ocado’s AGM in May. Rose, who has worked in the retail sector for 41 years, was chief executive of clothing and food retailer Marks & Spencer from 2004 [...]
Mortgage lending forecast to rise by nine per cent January 21, 2013 Mortgage lending will hit £156bn this year as lenders face fewer funding pressures, the Council of Mortgage Lenders said today. This marks a jump of nine per cent from last year’s £143bn total, and £141bn the year before that, according to figures released today. Bob Pannell, chief economist at the CML, said today that it [...]
HMV gift cards to be honoured January 21, 2013 HMV administrator Deloitte said this afternoon that gift cards can be redeemed in store from tomorrow. The administrator had previously said that gift cards couldn’t be redeemed in the music and DVD retailer, which collapsed into administration last week. Joint administrator Nick Edwards said that after assessing HMV’s financial position, it was able to honour [...]
Admiral leads FTSE 100 up January 21, 2013 As snow engulfed the City in white this morning, the leading share index was marginally up, although trading is expected to be quiet. Defensive shares were up on the FTSE 100 in early deals, as insurer Admiral lead gains, adding 5.3 per cent on the back of an upgrade from Goldman Sachs. Utility firms SSE, [...]
Huawei forecasts 2012 profit jump of 33 per cent January 21, 2013 Chinese telecoms giant Huawei said this morning it expects to report a 33 per cent year on year increase in net profits last year, and forecast stronger revenue growth for this year. Net profit for 2012 is slated to come in at 15.4bn yuan (£1.5bn), a 33 per cent increase from the previous year, boosted [...]
