Russian TNK-BP profit slumps on weak crude July 27, 2012 Russia’s third-largest oil producer TNK-BP International said on Friday its second quarter net profit slumped to $808m (£513) from $2.2bn a year ago on the back of lower crude prices and higher taxes. The company, half-owned by BP, said Russian Urals crude oil prices declined 7 per cent during the period, while it had to [...]
William Hill bullish after 13 per cent profit rise July 27, 2012 William Hill, Britain’s largest bookmaker, said it was on track to meet its full year targets after first half profit before tax rose to £143.3m, in line with forecasts. The company is best known for its chain of 2,370 betting shops in Britain, but is expanding overseas and like other gaming companies has a growing [...]
Costs weigh on Anglo American as profits drop July 27, 2012 Miner Anglo American saw profits drop almost 40 per cent in the first half of the year as faltering global economic growth hit the prices of key commodities like iron ore and platinum, but failed to bring down costs. The trend of weaker prices and still-rising costs has battered the major miners that have reported [...]
Airbus delays A350, EADS lifts forecasts July 27, 2012 European planemaker Airbus delayed the introduction of its newest passenger jet, the carbon-composite A350, as parent EADS unveiled better-than-expected second-quarter earnings lifted by resilient demand for its existing range of jetliners. The three-month delay follows a glitch in wing production and pushes first delivery of the all-new A350 – Europe’s answer to the Boeing 787 [...]
Barclays sorry for Libor as profits top £4bn July 27, 2012 Barclays said it was confident it will repair the damage caused by an interest rate rigging scandal that has rocked it and the banking industry after beating expectations with a £4bn profit. “We are sorry for the issues that have emerged over recent weeks and recognise that we have disappointed our customers and shareholders,” chairman [...]
Smartphones power record $5.9bn Samsung profit July 27, 2012 Samsung Electronics, the world’s top technology firm by revenue, reported on Friday a record operating profit of $5.9bn (£3.7bn) for the June quarter, as rampant Galaxy S handset sales helped stretch its lead over Apple. September quarter mobile profits are expected to forge further ahead as the latest Galaxy model enjoys a sales boom before [...]
FACEBOOK REELS AS RESULTS FLOP July 26, 2012 FACEBOOK’s woes deepened last night as after-hours trading sunk shares in chief executive Mark Zuckerberg’s company to an all-time low after the social network’s earnings stagnated in its first quarter as a public company. Shares fell 10 per cent to under $24 (£15.29) – 37 per cent down on its listing price – as income [...]
Cameron to top bosses: back UK Plc July 26, 2012 BUSINESS leaders from some of the largest companies in the world have begun arriving in London for a showcase event to boost investment into the UK, timed to coincide with the Olympic Games. The UK Trade and Investment department yesterday launched its so-called British Business Embassy, attracting figures such as Google’s Eric Schmidt, WPP boss [...]
Markets jump as ECB hints at more support for Spain July 26, 2012 EUROPEAN markets soared yesterday after European Central Bank boss Mario Draghi promised he would do “whatever it takes” to end the Eurozone crisis – a hint that more government bond purchases could be on the way to ease the pressure on struggling states like Spain. He told an audience at the Global Investment Conference that [...]
Even sceptics must now embrace the greatest show on earth July 26, 2012 IT’S TIME for a confession: I haven’t always been the Olympics’ greatest fan. I still dislike the Zil lanes, the disruption to business, the restrictions on free speech, the closure of parks and facilities, the immense cost to taxpayers. But it’s time to move on. Even I am now feeling really excited about the Games [...]
