Britons’ finances take smallest hit since December 2010 August 20, 2012 Britons reported the smallest deterioration in their finances in 20 months in August, as their debt levels stopped rising and fears of being laid off eased, suggesting that consumers could yet be in the mood to help pull the economy out of recession. Survey compiler Markit said today that its headline Household Finance Index climbed [...]
Bovis Homes doubles profit in first half August 20, 2012 Housebuilder Bovis Homes Group doubled profit in the first half of 2012, helped by a rise in the number of its sales outlets, and said it expected profit to increase further in the second half of 2012. The company said today that profit before tax for the six months to the end of June was [...]
Clashes at Lonmin mine kill 34 August 17, 2012 Violent clashes at platinum producer Lonmin’s South African mine yesterday claimed the lives of 34 protestors and injured 78 others, the South African police chief confirmed today. Aside from the death toll of 34 yesterday, 10 were killed last weekend, including two police officers. South African President Jacob Zuma is expected to fly out later [...]
Petroceltic bids for Melrose Resources August 17, 2012 Irish oil and gas explorer Petroceltic International said it would buy Melrose Resources for £165m to strengthen its operations in North Africa and the Black Sea. Petroceltic banks on Melrose’s producing assets in Egypt and Bulgaria until its own exploration assets in Algeria start production in four to five years. Melrose held proved plus probable [...]
FTSE 100 boosted by financials August 17, 2012 The blue chip index opened up this morning, tracking gains in the US and Asia, driven by upbeat comments from German Chancellor Angela Merkel over tackling the Eurozone debt crisis. Miner Centamin led the risers, up four per cent in early trading, as investors reacted positively to news of a record amount of gold it [...]
Litigation fund eyes special dividend August 17, 2012 Britain’s first quoted litigation investment fund, which bankrolls lawsuits in return for earning a share of awards, plans to pay a bumper dividend to investors after winning a further four cases worth £23m. The board of Juridica Investments Ltd is scheduled to meet on 6 September, before its September half-year results, to discuss a special [...]
Britain heading for rebound from recession August 17, 2012 The end of the 2012 Olympics has left economists more uncertain than ever about the Games’ boost to Britain’s economy, although most agree they will help thrust the country out of recession, a poll showed today. The UK economy has been shrinking since late 2011, bruised by the Eurozone’s debt crisis and austerity measures at [...]
John Lewis sales lifted by Olympic gold rush August 17, 2012 John Lewis, Britain’s biggest department store group, posted strong sales growth last week, helped by a feel good factor that swept the nation during the second week of the London Olympic Games. The employee-owned firm said today that department store sales jumped 14.9 per cent year on year to £60.75m in the week to 11 [...]
FTSE 100 flat on worries over retail sales data August 16, 2012 The blue chip index was flat in early trade, having closed modestly down on Wednesday, as investors were cautious ahead of the release of UK retail sales data. Gold producer African Barrick Gold was the top FTSE 250 riser, up almost 10 per cent on speculation parent company Barrick Gold could sell its 74 per [...]
Retail sales post surprise rise in July August 16, 2012 Retailers reported an unexpected rise in sales in July and higher than earlier thought sales in June, data showed today, boosting hopes that consumer spending will help lift the economy out of recession. Retail sales volumes rose 0.3 per cent on the month to give an annual increase of 2.8 per cent, compared to economists’ [...]
