British Gas cuts price by 5 per cent January 12, 2012 British utility Centrica said it will cut household electricity prices by five per cent with immediate effect, one day after rival EDF Energy announced plans to slash gas bills, also by five per cent. The utility, which owns Britain’s largest gas supplier British Gas, said it was unable to cut gas bills as long-term costs [...]
Spain’s borrowing costs drop January 12, 2012 Spain’s borrowing costs fell at an auction of government bonds on Thursday that saw solid demand in 2012’s first real test of appetite for debt from the euro zone’s bruised periphery. But Spain still faces huge challenges this year to meet tough European deficit targets after the government missed its 2011 cost-cutting goal and the [...]
UK industrial output falls in November January 12, 2012 British industrial output posted a surprise fall in November as oil and gas extraction and electricity production were scaled back sharply, official data showed, raising the prospect the overall economy contracted in the final quarter of 2011. The figures from the Office for National Statistics confirm recent weak business surveys and boost concerns that Britain [...]
Ashmore sees modest rise in assets January 12, 2012 UK fund manager Ashmore Group reported a small rise in assets in the fourth quarter, helped by inflows into debt products and a recovery in its core emerging markets. Ashmore said on Thursday assets grew 2.5 per cent to £39.4bn. A rocky period for emerging markets last year hit Ashmore’s asset base and the fees [...]
Ocado trading strong over festive period January 12, 2012 Online grocer Ocado reported a 16 per cent rise in sales in December, a slowdown from the 26.7 per cent posted a year ago, but said its focus on service and an absence of 2010’s snow helped it deliver nearly all orders on time. The company, which mostly sells the products of high-end supermarket chain [...]
Tesco hit by dismal Christmas January 12, 2012 Tesco, Britain’s biggest retailer, reported its worst Christmas sales performance for decades on Thursday and warned it would see minimal profit growth next year as it invests in winning back shoppers. The world’s third-largest stores group said on Thursday it now expected minimal trading profit growth for 2012/13 against analysts’ forecasts for a 10 percent [...]
Home Retail to slash dividend as Argo sales plunge January 12, 2012 Home Retail, Britain’s No. 1 household goods retailer, said it anticipated a significant cut in its full-year dividend as it posted a further slump in sales at its Argos business over the Christmas trading period. The firm said on Thursday the trading environment had been both “volatile and demanding” and forecast at year to end-February [...]
RBS to cut 3,500 investment banking jobs January 12, 2012 Part-nationalised Royal Bank of Scotland is to cut about 3,500 jobs as it sells and shrinks parts of its investment bank over a three-year plan to further reduce risk. RBS, 83 per cent owned by the government, said it will exit from cash equities, corporate broking, equity capital markets and mergers and acquisitions businesses. It [...]
WHITE HOT January 11, 2012 Spurs move within three points of league leaders Man City after beating Everton but boss Redknapp insists a top four finish remains his main objective TOTTENHAM 2 vs EVERTON 0 TOTTENHAM manager Harry Redknapp is stubbornly refusing to dream of ending the club’s 51-year wait to win the top-flight title — and says he will [...]
Gerrard puts Liverpool on verge of Wembley return January 11, 2012 MANCHESTER CITY 0 vs LIVERPOOL 1 LIVERPOOL captain Steven Gerrard accused Manchester City manager Roberto Mancini of hypocrisy after putting his side within touching distance of Wembley by scoring the only goal of last night’s fractious Carling Cup semi-final first leg. The England midfielder capped a fine all-round display with the 13th minute penalty that [...]
