Unemployment falls to 2.51m as employment rate rises November 14, 2012 The number of people out of work fell 49,000 to 2.51m over the three months to September, as the employment rate jumped again. The employment rate for the third quarter was 71.2 per cent, up 0.2 per cent on the previous quarter, according to official figures from the Office for National Statistics. The ONS said [...]
Asian growth boosts Prudential November 14, 2012 Insurer Prudential this morning reported a 13 per cent rise in profit, boosted by strong growth in its Asian markets. Over the year to date, new business profit was up to £1.7bn, while sales were up 14 per cent year on year to £3.1bn. Profit in Asia, where Prudential makes almost half of its sales, [...]
Icap hit by trading slump as profits fall November 14, 2012 Interdealer broker Icap said this morning it saw no rapid improvement across the markets in which it operates, as it posted a 26 per cent drop in pre-tax profit. Over the six months to September, revenue at the broker fell 14 per cent to £746m. Chief executive Michael Spencer called the period “one of the [...]
AG Barr and Britvic agree merger November 14, 2012 AG Barr and Britvic have agreed the terms of an all-share merger, which will create one of the leading soft drinks companies in Europe. The enlarged company, which will be called Barr Britvic Soft Drinks, will have annual sales of £1.5bn. The merger ratio will be 0.816 new AG Barr shares for every Britvic share [...]
Profits and market share increase at Sainsbury’s November 14, 2012 Supermarket J Sainsbury this morning beat expectations by reporting pre-tax profit of £373m over the half year to September, up 5.4 per cent year on year. The supermarket chain’s market share ticked up to 16.7 per cent, the highest for almost a decade, following 31 consecutive quarters of like for like sales growth. J Sainsbury [...]
Weak miners and Vodafone weigh on FTSE 100 November 13, 2012 The leading blue chip index was trading down this morning, dragged down by headline mining shares and Vodafone. On the FTSE All-Share, Finnish miner Talvivaara sank 8.72 per cent, as its nickel mine remained shut by a waste water leakage. Electronic card payment provider De La Rue dropped 7.14 per cent as it issued a [...]
UK inflation jumps to 2.7 per cent November 13, 2012 The consumer prices measure of inflation jumped to 2.7 per cent in October, up from 2.2 per cent in September, with the hike in university fees behind the rise. Aside from university tuition fees, price rises in food and transport also contributed to the increase, according to official figures from the Office for National Statistics. [...]
Petra Diamonds agrees $244m new debt facility November 13, 2012 Miner Petra Diamonds has agreed new debt facilities of $244m (£154m) to finance the expansions of two South African mines. The new facility will be mainly used to expand the Finsch and Cullinan mines in South Africa, as well as helping the group’s general working capital needs. Over the three months to September, Petra Diamonds’ [...]
William Hill and GVC get more time for Sportingbet bid November 13, 2012 William Hill and GVC Holdings have been given more time to make a formal offer for Sportingbet, with the deadline extended to 4 December. Following a £530m takeover approach, the UK Takeover Panel has extended the deadline from this afternoon to allow discussions to continue between Sportingbet, William Hill and joint bidder GVC Holdings. William [...]
Vodafone drops to loss November 13, 2012 Telecoms company Vodafone slumped to a pre-tax loss of £492m over the six months to September, as it was forced to write down the value of its business in Spain and Italy by £5.9bn. It was hit by customers in Southern Europe making fewer phone calls. Over the second quarter, group organic revenue fell 1.4 [...]
