Swiss National Bank posts a loss April 30, 2012 ■ The Swiss National Bank posted a first-quarter loss yesterday due in part to a stronger Swiss franc, underscoring the challenge it faces in curbing the gains of a currency which is attracting investors seeking a safe haven amid the Eurozone debt crisis. The central bank said it made a consolidated loss of 1.7bn Swiss [...]
Stubborn inflation hits Eurozone April 30, 2012 ■ Price pressures stayed high in the Eurozone in April in the face of a likely recession, official figures showed yesterday, keeping interest rate cuts off the agenda for an ECB seeking ways of reviving economic growth within its inflation mandate. Consumer prices moderated to 2.6 per cent from 2.7 per cent in March.
Red-faced KPMG says sorry for internal payments error April 30, 2012 ACCOUNTANT KPMG has been forced into an embarrassing apology to staff after the company failed to pay its staff on time. In an ironic twist, KPMG – which is accustomed to dishing out advice to firms on how to manage their own accounting systems – has been caught out itself after an administrative blunder left [...]
FLYING TRADER TAKES TO THE SKIES April 30, 2012 Greg Secker, the foreign exchange trader and coach, is taking to the skies again to raise money for childrens’ charities. Secker is holding six more Flying Trader days (he’s already had one) with a view to raising around £250,000. Secker flies above London while trading and passing on tips to an audience of traders, with [...]
4G set to boost economy and UK investments April 30, 2012 THE ROLLOUT of superfast mobile broadband will boost the UK’s economy and stimulate a chain of investment, according to Capital Economics. Research commissioned by telecoms giant Everything Everywhere, the UK hybrid of Orange and T-Mobile, suggests that the latest generation of mobile network – called 4G – will necessitate a £5.5bn direct private sector investment in the UK [...]
Royal Mail defends stamp price hike as rises come into full force April 30, 2012 A HIKE IN the cost of stamps came into force yesterday, as the Royal Mail attempts to offset declining mail volumes and stem its losses. The cost of a first class stamp has increased by almost a third to 60p, while the price of a second class stamp has jumped 14p to 50p – almost [...]
Adidas outperforms rivals in China April 30, 2012 ■ Shares in Adidas jumped to a record high yesterday after the sports brand raised its 2012 profit forecast as it outperformed rivals Nike and Puma in the key Chinese market. Adidas said sales in China increased 26 per cent in the first quarter, sending shares up five per cent to €63 (£51.30) as investors [...]
Deadline for Goals bid extended April 30, 2012 ■ Goals Soccer Centres, which runs five-a-side football centres across the UK, said yesterday it had extended the deadline for Ontario Teachers’ Pension Plan to make an offer for the company. Goals confirmed at the start of April that it had been approached by the Canadian pension fund, which also owns Camelot, the National Lottery [...]
Energy Transfer to buy Sunoco April 30, 2012 ■ Pipeline operator Energy Transfer Partners has agreed to buy Sunoco for $5.35bn (£3.30bn) to get into the more lucrative crude oil transportation business. Energy Transfer Partners is paying a 22.5 per cent premium over Friday’s closing share price.
AB Inbev sees US sales rise as Brazil costs bite April 30, 2012 ANHEUSER-BUSCH Inbev, the world’s largest beer maker, just missed first-quarter earnings expectations as the cost of expansion in Brazil offset its first increase in US beer sales in three years. The maker of Budweiser, Stella Artois and Beck’s said yesterday economic trends were improving in the United States, the world’s most profitable beer market, with [...]
