Australia slashes interest rates to combat its strong currency May 1, 2012 WEAK economic growth and falling inflation made room for the Reserve Bank of Australia (RBA) to cut interest rates sharply yesterday. The Australian dollar plunged on the announcement of an unexpectedly large 50 basis point rate cut to 3.75 per cent, which should help boost exports. “Output growth was somewhat below trend over the past [...]
How long will it take for the UK to recover? May 1, 2012 When will the UK economy start to grow at a rate of two per cent or more per annum? The Bank of England says it will be 2013, but is the Old Lady of Threadneedle Street being too optimistic? Let us know what you think by applying to join our readers’ panel, which has been [...]
Le Pen refuses to back Sarkozy May 1, 2012 ■ Nationalist leader Marine Le Pen dealt incumbent French President Nicolas Sarkozy a further blow yesterday by refusing to endorse his campaign. She came third in the first round with 17.9 per cent of the vote, but refused to back the centre-right leader in the run-off against socialist Francois Hollande, who came top. Le Pen [...]
SMEs call for more state contracts May 1, 2012 ■ Small businesses are still struggling to win public sector contracts despite the government’s efforts to make it easier, the Federation of Small Businesses (FSB) said yesterday. Its survey showed 40 per cent of firms want the tendering process to be simplified, while 41 per cent of firms who bid for contracts failed to secure [...]
House bills put pressure on pay May 1, 2012 ■ Gas bills have trebled and electricity doubled in the last decade, Santander research revealed today. Overall bills have risen by 71 per cent, or twice the pace of inflation – far outstripping wage growth at 24 per cent, and leading 29 per cent of Britons to complain the costs have reduced their overall standard [...]
Cape revenues lift as UK sales pick up pace May 1, 2012 INDUSTRIAL services provider Cape said yesterday its quarterly revenue has jumped 16 per cent, helped by double-digit sales growth at home and abroad. The FTSE 250 company, which provides services to plant operators in the energy and mining sectors, said it was well positioned for the rest of the year as its order book was [...]
Perform is driving ahead with with revenues jumping by 45pc May 1, 2012 SPORTS rights company Perform said it expected strong profit growth this year after reporting first quarter revenues that rose 45 per cent. “We are very pleased with the momentum in the core business and are looking forward to posting another year of strong revenue and Ebitda growth,” joint chief executive Oliver Slipper said. The company, [...]
Rolls-Royce wins $315m contract May 1, 2012 ● Rolls-Royce yesterday announced that it had won a $315m (£194m) contract from aircraft engine maker Pratt & Whitney to supply equipment that allows military aircraft to shorten their take-offs and landings. Rolls is the only company to produce the LiftSystem technology.
Etihad buys Aer Lingus stake May 1, 2012 ● Etihad Airways has bought a three per cent stake in Irish airline Aer Lingus as a precursor to a commercial tie-up that could help Abu Dhabi’s flagship carrier gain more European routes to catch up with Middle Eastern rivals. The deal also positions state-owned Etihad as a potential buyer of the indebted Irish government’s [...]
Anglo-Lafarge must sell assets May 1, 2012 ● Miner Anglo American and cement maker Lafarge must sell major assets to win clearance for a tie-up of their building materials businesses. The Competition Commission said the companies had to sell an “extensive package of operations”. Both firms said they were confident conditions would be met, prompting speculation that they might have buyers lined [...]
