Cadbury sales get a credit crunch boost July 31, 2008 Credit crunch-induced comfort eating saw Cadbury beat forecasts with a 46 per cent rise in first-half profits and give an upbeat outlook, shrugging off fears of a consumer downturn. However, the Dairy Milk chocolate maker warned of possible further cost cuts and job losses as it faces an uncertain economic outlook and further rises in [...]
It is still not the time to be buying into retail stocks July 31, 2008 The European General Retail sector has fallen by about 25 per cent so far this year. But does this sharp decline in price make retail shares a good buy? We think that there are a variety of reasons to remain wary. The first reason is a depressed outlook for consumer demand. With continued worries about [...]
Next cautious after half year sales fall 6 per cent July 31, 2008 Next, the second largest clothing retailer in the UK, saw sales fall in the first half of the year and said the trend was likely to continue this year. Second quarter sales actually fared better than expected, down 2.4 per cent on the same quarter the previous year, as the warmer summer weather coaxed shoppers [...]
Record share dividend for Admiral July 31, 2008 Admiral, the insurance firm, yesterday revealed pre-tax profits of £100.3m for the first half of 2008, a 16 per cent rise from the same time last year. The group announced a record dividend of 26p per share, a 26 per cent increase. In addition, over £3m in shares will be distributed to staff who have [...]
Don Argus raises the stakes with Rio July 31, 2008 BHP Billiton chairman Don Argus issued Rio Tinto shareholders yesterday with a stern warning that their firm’s share price would lower without BHP’s £75bn takeover offer. Argus said that his group’s bid, which if successful would create the largest miner in the world and would be one of the biggest takeovers of all time, would [...]
Windfall bonus for 1m Norwich Union policyholders as firm sees profits surge July 31, 2008 Claire Spottiswoode delivered on months of marathon negotiations yesterday after 1m Norwich Union policyholders will be offered pay outs of around £1000 each. Aviva, the group’s parent company, is offering cash to qualifying customers in two of its with-profits funds, in exchange for buying out their right for any future pay-outs or redistribution of money. [...]
Informa receives second full takeover approach July 30, 2008 Informa shares spiked after the publisher and events organiser revealed it had received an approach from another potential suitor. Informa said it is still in discussions with a Providence Equityled consortium, but it has also now provided information to the new bidder. It stressed the approach was preliminary only. Buyout firms Providence Equity, The Carlyle [...]
Crosby review fails to please industry July 30, 2008 Property industry experts yesterday sharply criticised the government commissioned Crosby report on the crippled state of the mortgage market for failing to take immediate action to relieve the problem. In his interim report, published yesterday afternoon, Sir James Crosby, the former boss of HBOS, said the mortgage markets would remain jammed another three years, possibly [...]
Bean-count your way to the top July 30, 2008 If you’re clever, an accountancy career can be a route to corporate success, says Chris Higson Not so long ago, people were predicting the eclipse of the accountancy profession. Accountancy had always been a reliable route to the top, particularly in the UK, but perhaps this was changing. It looked as though other countries got [...]
Police close in on Antigua murder case July 30, 2008 Police in Antigua are questioning six suspects over the murder of a British doctor shot dead on her honeymoon, according to local media reports yesterday. Catherine Mullany, 31, was killed in her hotel room at a luxury resort on the Caribbean island. Her husband Benjamin Mullany, also 31, was shot in the neck and is [...]
