Carillion sees rising public sector demand August 22, 2012 Support services and construction firm Carillion said major public sector customers in areas like defence and health had not been put off outsourcing workers by the G4S Olympic security debacle, which sparked criticism by politicians. The growing trend of private firms running budget-squeezed public services was thrown into the spotlight in July when the world’s [...]
Germany sells £2.5bn of interest-free bonds August 22, 2012 Germany easily sold €4bn (£2.5bn) of new interest-free two-year bonds today, with investors edgy about European Central Bank (ECB) plans to curb the debt crisis, though demand was below this year’s average. Germany sold bonds with a zero coupon – meaning it pays no interest to the holder – for the second time this year, [...]
FTSE 100 dragged down by Eurozone woes August 22, 2012 The index was dragged down in early trading, as investors fretted over renewed uncertainty surrounding the Eurozone crisis. Greek Prime Minister Antonis Samaras is due to meet with Euro Group chief Jean-Claude Juncker today to discuss the country’s austerity plans. By far the biggest faller in the index in early trading was TT Electronics, down [...]
Lufthansa to make cabin crew pay offer August 22, 2012 Germany’s largest airline Lufthansa will present cabin crew with a new pay offer today that it believes should avert any massively disruptive strike action. The UFO cabin crew union, which represents 18,000 Lufthansa flight attendants, has been in dispute with the airline for 13 months on pay and conditions. The union last week said it [...]
Stagecoach chief executive to stand down August 22, 2012 Stagecoach chief executive Brian Souter will stand down and become the company’s chairman in May 2013, replacing George Mathewson who is retiring. The transport group also said it had traded well in its first quarter due to a strong performance from its British rail and US bus businesses. The Scotland-based company today said like-for-like revenues [...]
Dell’s outlook disappoints and PC market falters August 22, 2012 Dell warned of a challenging second half and slashed its full-year earnings outlook as customers cut back on computer purchases ahead of the launch of Microsoft’s Windows 8 software, sending its shares down more than four per cent. Dell – once the world’s top PC maker and a pioneer in computer supply chain management – [...]
Recession leads UK businesses to delay investment August 22, 2012 British businesses are delaying investment and employment decisions as fears about a prolonged recession are hurting their confidence, a survey by a major business lobby showed today. Britain has been mired in recession since late 2011 and the Bank of England has warned that the lack of confidence among businesses and consumers could lead to [...]
BHP Billiton delays £12.7bn Olympic Dam project August 22, 2012 Top global miner BHP Billiton shelved its planned $20bn (£12.7bn) Olympic Dam copper expansion today as it reported a 35 per cent slide in second-half profit in the biggest sign of the pain inflicted by the slowdown in China’s economic growth. BHP reported its first annual profit fall in three years in the face of [...]
FTSE 100 buoyed by mining and financial shares August 21, 2012 The blue chip index opened up this morning, with strong gains in heavyweight mining shares and UK financials leading the risers. Heritage Oil was up by almost 13 per cent in early trading, as investors were buoyed by news that it is to sell part of its holding in a gas block in Iraq for [...]
Corporation tax shortfall dents UK public finances August 21, 2012 Britain’s government finances showed an unexpected deficit in July – traditionally a month for strong tax receipts – after a shortfall in corporation tax, especially from the energy sector, data showed today. The Office for National Statistics said the public sector finances excluding financial sector interventions – the government’s preferred measure – showed a deficit [...]
