FTSE 100 flat despite Lonmin losses August 20, 2012 Britain’s leading share index opened flat this morning, despite widening losses in mining shares, tracking a decline in the price of copper. Beleaguered platinum producer Lonmin continued another day of losses, with the shares down more than 3.5 per cent. The mining company today issued an ultimatum to the striking workers. Defence group Chemring was [...]
BAA to sell Stansted Airport after dropping legal appeal August 20, 2012 Airport operator BAA today said it would proceed with the sale of London’s Stansted airport after deciding not to challenge a Competition Commission (CC) ruling forcing it to sell the airport. BAA’s challenge to the CC ruling was rejected by the Court of Appeal last month and it was expected to take the case to [...]
Assange berates US from Ecuador Embassy August 20, 2012 WikiLeaks founder Julian Assange berated the US last night from the balcony of the Ecuadorean Embassy where he has sought refuge from arrest, demanding President Barack Obama end what he called a witch-hunt against his whistle-blowing website. Speaking from within the London mission to avoid being detained by British police who want to extradite him [...]
Kingspan sees European insulation markets weakening August 20, 2012 Irish building supplies company Kingspan said a jump in profits in the first half of the year is unlikely to be sustained in the second half as the Eurozone crisis is dragging down activity in some markets. The biggest producer of building insulation in Britain, Ireland, Canada and Australasia attributed a 14 per cent jump [...]
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 [...]
Rail fare revolt gains momentum August 19, 2012 CONSERVATIVE MPs yesterday hit out at proposed increases in rail fares and called on the government to do more to help cash-strapped commuters. Backbenchers in marginal constituencies are preparing to lobby the government to act on travel costs after a furious public reaction to last week’s announcement that average fares will increase by 6.2 per [...]
CME plans new London exchange August 19, 2012 LONDON could soon be hosting another derivatives exchange, as reports over the weekend suggested CME Group is planning to open a new European market based in the City. The addition of a competitor to take on the London-based NYSE Euronext’s Liffe and Deutsche Bourse’s Eurex in Frankfurt could be a major step in shaking up [...]
Pressure grows on Lonmin after Marikana massacre August 19, 2012 LONMIN, the world’s third largest platinum miner, will today issue an ultimatum to 3,000 striking employees to restart production or face the sack as pressure mounts on the company’s finances following last week’s deadly clashes. Wildcat strikes at its Karee mine – situated on the Western flank of its Marikana mining district – have caused [...]
Supermarkets hold talks with government on Sunday trading August 19, 2012 RETAILERS have been holding discussions with the government and trade bodies over the permanent relaxation of Sunday trading rules, it was revealed yesterday. Current rules limit large shops to six hours of trading between 10am and 6pm on a Sunday. This has been temporarily relaxed during the Olympics and it is thought communities secretary Eric [...]
