FTSE 100 down as Anglo American in spotlight October 26, 2012 The blue chip index was down in early trading, as investors were cautious on weak data from the Eurozone and biding time ahead of US GDP released this afternoon. Mining shares bore the brunt of losses, although Anglo American bucked the trend, adding 2.1 per cent, as chief executive Cynthia Carroll announced she was to [...]
CPP looks to tough 2013 as regulatory probe continues October 26, 2012 Insurer CPP Group said this morning that it expects UK trading to be difficult next year because of a regulatory probe affecting new business. Last year the Financial Services Authority announced it would look into the way that CPP sold protection against identity theft. The insurer said today that it had agreed a framework with [...]
Spain unemployment hits record high October 26, 2012 Spain’s unemployment rate hit a record high of 25 per cent in the third quarter, official data showed this morning. It is thought that a new labour reform that made it easier to dismiss workers and a steep recession left more out of a job. The figure rose from 24.6 per cent seen in the [...]
Anglo American’s Cynthia Carroll to step down October 26, 2012 Anglo American’s chief executive Angela Carroll is to step down after more than five years in the role, it was announced this morning. Carroll has been under pressure from some shareholders over share price performance, and the miner’s continued dependence on South Africa. Industrial action in South Africa spread to Anglo American Platinum, the world’s [...]
Xstrata shareholders to vote on Glencore merger on 20 November October 25, 2012 Shareholders in Xstrata will vote on the proposed deal with Glencore on 20 November, the commodities trader said in a statement this afternoon. The investor meeting, which will take place 10 months after the original deal was announced, will see shareholders vote on the proposed deal of 3.05 new shares for every Xstrata share. Under [...]
FTSE 100 up as Britain leaves recession October 25, 2012 The blue chip index was up in early trading, as the economy expanded by one per cent in the three months to September, the strongest quarterly growth in five years. Companies announcing results also helped to buoy the FTSE 100, such as consumer giant Unilever, which added 3.36 per cent as it announced rising sales. [...]
UK leaves recession with strong quarterly growth October 25, 2012 The economy officially emerged from recession in the three months to September, posting its strongest quarterly growth in five years. Official figures from the Office for National Statistics said this morning that the economy expanded by one per cent in the third quarter, compared to a contraction of 0.4 per cent over the previous quarter. [...]
AstraZeneca sales fall on expiring patents October 25, 2012 Pharmaceutical giant AstraZeneca this morning posted a 19 per cent slump in revenue over the three months to September, hurt by negative exchange rate movements. The loss of patents on some top-selling drugs accounted for most of the decline, the drugs company said this morning, as revenue for the third quarter came in at $6.7bn [...]
Unilever sales rise on emerging markets boost October 25, 2012 Consumer giant Unilever this morning posted a 5.9 per cent increase in underlying sales, boosted by a 12.1 per cent rise in sales from the emerging markets. The world’s third-largest consumer group posted turnover of €13.4bn (£8.3bn) over the three months to September, with a positive 4.1 per cent impact from foreign exchange. Over the [...]
Asos posts soaring profits October 25, 2012 Fashion retailer Asos this morning posted pre-tax profits of £44.5m in the year to August, up from £31.7m the year previously. Retail sales at the AIM-listed retailer rose to £538m over the year, with UK sales edging up to £205m. It posted a strong performance in overseas markets, and international sales were up 64 per [...]
