Home Retail ups profit guidance on strong Argos sales January 17, 2013 Household goods retailer Home Retail Group this morning raised its profit forecast, on the back of strong sales from Argos. The group, which also includes the Homebase brand, said it now expects pre-tax profit for the financial year to come in at £10m ahead of the current £73m forecast. In October, Home Retail unveiled a [...]
Rio Tinto chief steps down following $14bn charge January 17, 2013 The chief executive of miner Rio Tinto has stepped down, in a surprise move following a $14bn (£8.7m) charge. Outgoing Tom Albanese, who joined Rio two decades ago, will be replaced by Rio Tinto’s iron ore chief Sam Walsh, with effect from today. The $14bn charge includes around $3bn relating to Rio Tinto Coal Mozambique, [...]
More Dreamliners grounded on battery concerns January 17, 2013 Boeing’s 787 Dreamliner jets faced more problems today, as more airlines and regulators moved to ground the passenger jets while battery-related problems are investigated. Yesterday, the US Federal Aviation Administration temporarily grounded the aircraft, saying carriers would have to demonstrate the batteries were safe before the planes could resume flying. Airlines in Europe, Japan and [...]
Blockbuster collapses into administration January 16, 2013 DVD rental firm Blockbuster has become the latest retailer to bite the dust, and today appointed Deloitte as its administrator. The collapse of Blockbuster, which employs 4,190 staff across 528 stores in the UK, comes just two days after high street stalwart HMV hit the rocks. Lee Manning, Matthew David Smith and Neville Kahn, partners [...]
Anglo American leads FTSE 100 down January 16, 2013 Global miner Anglo American led the FTSE 100 down this morning as one of its mines was hit by a strike following yesterday’s review of its platinum operations in South Africa. Amplats, which is 80 per cent owned by parent Anglo American, yesterday said it would divest of a mine complex and close four shafts, [...]
EU new car registrations plunge to lowest level since 1995 January 16, 2013 New car registrations in the EU fell to their lowest level since 1995 last year, according to data out today from European automotive industry association ACEA. Over 2012 as a whole, the EU car market contracted by 8.2 per cent year on year as 12.05m vehicles were sold. In December, demand for new cars slumped [...]
Profit doubles at Barratt January 16, 2013 Pre-tax profit at housebuilder Barratt more than “doubled” over the second half of last year, it said in a trading update today. Barratt Developments, the UK’s biggest housebuilder, said it expected to deliver a 108 per cent jump in pre-tax profit of £45m for the six months to December, up from £21.6m over the same [...]
Japanese airlines ground Boeing Dreamliner jets following emergency landing January 16, 2013 Japan’s two main airlines grounded their fleets of Boeing 787s today, as one Dreamliner passenger jet was forced to make an emergency landing. All Nippon Airways, which grounded all 17 of its 787 fleet, said instruments picked up a battery error on one of its domestic flights, which triggered an emergency warning to the pilots. [...]
Renault to cut 7,500 jobs in France by 2016 January 15, 2013 Carmaker Renault aims to cut around 7,500 jobs in France by 2016, as it tries to boost competitiveness amid a slump in its domestic and European markets. The reduction in headcount is equal to 14 per cent of Renault staff in France. Around 5,700 departures are expected to come through natural turnover, according to Renault. [...]
Burberry tops FTSE 100 January 15, 2013 The leading share index was modestly higher in early deals, as Burberry was the star performer following an upbeat trading statement. The British luxury brand soared 5.2 per cent on the FTSE 100 this morning, as investors were cheered by its latest trading statement. Revenue over the third quarter jumped nine per cent, thanks to [...]
