Samsung posts record profits October 5, 2012 Samsung this morning posted record profits of $7.3bn (£4.5bn) in the third quarter, helped by strong sales of smart TVs and Galaxy smartphones. The profit figure, which was nearly double last year’s figure, helped to offset weaker profits from the South Korean technology firm’s chip business. Ahead of full quarterly results due by October 26, [...]
Think tank: London needs four-runway airport October 5, 2012 London needs a four-runway airport to the west of Heathrow if it wants to cement its place as Europe’s premier aviation hub, a think tank said today. A report by the Policy Exchange said if the West London site is “politically unfeasible”, a four-runway airport at Luton is the next best option. The report, written [...]
Bank of England holds interest rates and QE October 4, 2012 The Bank of England kept the bond buying programme on hold today, as the economy is showing signs of growth. At a two-day meeting, the Monetary Policy Committee made no change to its current plan to buy £50bn of UK government bonds, taking the total asset purchase programme to £375bn, by November. “Pressure for immediate [...]
UK car sales rise in September October 4, 2012 UK car sales rose by a better-than-expected 8.2 per cent in September. The Society of Motor Manufacturers and Traders association said this morning that car registrations last month increased to 359,612 from 332,476 a year earlier, exceeding expectations by more than 26,000 cars. September is a critical month for the industry, accounting for around 20 [...]
Halfords sales up on summer cycling success October 4, 2012 Car and bike retailer Halfords reported strong summer trading this morning as customers were buoyed by the success of the Tour de France and the Olympics. A strong performance in the cycling division boosted revenue. Solid performances from the car maintenance division also flattered the results. Like for like revenue at stores that have been [...]
Carillion warns revenue likely to be down October 4, 2012 Construction firm Carillion warned this morning that full-year revenue will be lower for this year than for 2011. In its interim management statement, Carillion said a restructuring of its UK construction activities in a shrinking UK market would hold back profits. The West Midlands-based construction group said it expects to deliver higher operating profit and [...]
FTSE 100 down on poor Chinese data October 3, 2012 The leading share index slipped back under the 5,800 mark this morning, as weak Chinese services sector data weighed on investor sentiment. Mining stocks were hit, as the poor outlook from Asia raised concerns about raw demand. Leading the fallers in early trade was Lamprell, down more than 32 per cent, as it issued its [...]
easyJet raises profit forecasts October 3, 2012 Low-cost airline easyJet said this morning it expected to report a pre-tax profit of between £310m and £320m for the year to end September, boosted by travellers booking last-minute summer holidays. It previously expected to report between £280m to £300m over the year. “Following the end of the Olympic Games, demand from London increased towards [...]
Sainsbury’s boosted by online and convenience sales October 3, 2012 Sainsbury’s beat expectations to post a 4.3 per cent increase in total sales over the quarter this morning, thanks to strong growth in convenience stores and online. The food retailer opened 49 new convenience stores over the first half of the year, while the online business posted growth of over 20 per cent year on [...]
Pearson chief executive to step down October 3, 2012 Pearson chief executive Majorie Scardino is to step down at the end of the year. John Fallon, chief executive of Pearson’s International Education Division since 2008, will succeed her from 1 January 2013. Scardino joined Pearson as chief executive in 1997, and has seen sales triple to almost £6bn and profits increase three-fold during her [...]
