Costa coffee boosts Whitbread sales December 11, 2012 Coffee chain Costa continued to boost hotel and restaurant group Whitbread, as the group this morning posted a 3.3 per cent rise in third quarter sales. The coffee brand reported UK like for like sales up 7.1 per cent over the 13 weeks to November, compared to 6.8 per cent growth in the first half. [...]
Diageo ends talks on Cuervo tequila December 11, 2012 Drinks maker Diageo this morning announced that long-running discussions between it and the Jose Cuervo tequila brand have ended. The talks, which have been in the offing for more than a year, had been widely expected to result in a deal for the world’s number one tequila brand. A short statement from the FTSE 100 [...]
Heathrow passenger traffic up 3.1 per cent year on year in November December 11, 2012 London airport Heathrow this morning posted a 3.1 per cent jump year on year in traffic figures in November, as 5.4m passengers passed through the airport over the month. Heathrow reported that its load factor – showing how full the average flight was – came in at 72.8 per cent. Passenger numbers to Europe were [...]
Italian and Spanish bond yields rise on Monti’s resignation announcement December 10, 2012 Italian and Spanish bond yields have risen dramatically in the wake of Italian Prime Minister Mario Monti’s resignation announcement over the weekend. 10-year borrowing costs in Italy jumped 36 basis points to 4.9 per cent, a two-week high, whilst Spanish bond yields increased by 18 basis points to 5.7 per cent. Alessandro Giansanti, senior rate [...]
FTSE 100 down on Italian uncertainty December 10, 2012 Concerns over the health of the Eurozone weighed on the blue chip index this morning, following Italian Prime Minister Mario Monti’s announcement that he intends to resign after the 2013 budget is approved. The FTSE 100 was trading 0.2 per cent down in early trading, led down by insurer Aviva and miner Eurasian Natural Resources, [...]
Chinese export growth disappoints December 10, 2012 Chinese export growth slowed to a lower-than-expected 2.9 per cent in November as global demand remained muted. Export growth over the month was well below expectations for a nine per cent increase, and behind October’s 11.6 per cent rise. Imports were flat year on year, off forecasts for a two per cent rise. The data [...]
UK Coal completes restructure to become Coalfield Resources December 10, 2012 Producer UK Coal said this morning it had completed a restructuring of the business to create two divisions and rename the firm Coalfield Resources. Two separate businesses comprising the mining division and the property division have been created, called Mine Holdings and Harworth Estates respectively. Control of the mining division has passed to a newly-established [...]
Greggs chief to stand down December 10, 2012 Bakery chain Greggs this morning said that its chief executive Ken McMeikan is to stand down and take up the role of chief executive of catering firm Brakes Group. McMeikan, who will stay in his role until a successor is appointed, has headed up Greggs for four years. Derek Netherton, chairman of the bakery chain, [...]
Tata Steel to cut 900 UK jobs November 23, 2012 Tata Steel is to cut 900 jobs in the UK, including 580 jobs at its Port Talbot site in South Wales as part of a restructuring plan. It will cut 12 steel finishing and processing sites in England and Wales as part of the proposals. Other areas implicated by the steel manufacturer’s job cuts include [...]
EU budget summit ends without deal November 23, 2012 EU summit talks collapsed this afternoon, as leaders abandoned talks to find a deal on the currency bloc’s next long-term budget. The failure to agree a budget for the 2014-2020 period meant European Council President Herman Van Rompuy ended the summit. Talks are expected to resume early next year. It is understood that disagreement focused [...]
