Essar Energy makes lacklustre start to life on London markets May 4, 2010 FIRST-day trading in shares in Essar Energy was weak yesterday, leaving the closing price of the new stock at 389.5p, below an already reduced issue price of 420p a share. Dealers said that the group, which is 76 per cent owned by its Indian parent, had inadvertently chosen a bad day for first day dealings [...]
UK factory growth hits a 16-year high May 4, 2010 ACTIVITY in Britain’s hard-hit manufacturing sector grew at its fastest rate last month since September 1994 thanks to a sharp increase in the growth rate of new exports, a leading survey showed yesterday. The Markit/CIPS manufacturing purchasing managers’ index (PMI) showed that factory activity rose to 58 in April from 57.3, well above the 50 [...]
Recruitment rise set to spark return to City poaching May 4, 2010 THE recruitment market continued to improve in April, although the pace slowed after reaching a 12-year peak in March, according to a report published yesterday. In its job report, recruitment trade body the Recruitment & Employment Confederation (REC) and accountants KPMG said both permanent and short-term staffing continued to increase, showing clear signs of economic [...]
Shop prices rose last month but stability forecast May 4, 2010 SHOP price inflation rose to two per cent in April on a year earlier compared to 1.2 per cent in March, according the latest survey from the British Retail Consortium (BRC). Rising costs as a result of higher commodity prices were the main reason behind the increase. The BRC’s director-general Stephen Robertson said: “With commodity [...]
OECD inflation rate hits 2.1pc May 4, 2010 The Organisation for Economic Cooperation and Development (OECD) yesterday published data showing that the rate of inflation in its 31 member states hit an annual 2.1 per cent in March. This small increase in inflation rates mainly reflected higher energy prices, which increased by 11.3 per cent in the year to March, compared with 8.4 [...]
German retail sales slip further May 4, 2010 German retail sales fell 2.4 per cent in March on the previous month but they were still 2.7 per cent higher than a year earlier. This was disappointing as retail sales will not support growth in the first quarte, according to Carsten Brzeski at ING. She said: “The March drop illustrates once again a sad [...]
US home buyers rush to sign May 4, 2010 Pending homes sales in the United States jumped 5.3 per cent in March on the previous month and in line with analysts’ expectations. Economists said that prospective buyers rushing to complete before the homebuyer tax credit ended on 30 April had given the figures a boost. As a result, April should also be another month [...]
MORTGAGE APPROVALS INCH HIGHER May 4, 2010 DATA from the Bank of England showed that mortgage approvals only inched higher in March from February’s nine-month low. Approvals only amounted to 143,659 in the first quarter of 2010. But consumers are starting to demand credit, which rose for the fourth successive month after five months of net repayments.
Aer Lingus hit by €20m loss on ash chaos May 4, 2010 AER LINGUS has taken a €20m (£17.2m) hit from the chaos caused by the ash plume last month, the airline said yesterday. The Dublin based carrier said its financial performance for the second quarter of the year will be significantly impacted by the six-day flight ban and warned that the figure could be further affected [...]
Airlines face summer of cancellations, says IAA May 4, 2010 AIRLINES in Ireland and Scotland could face further disruptions to flight schedules this week after aviation authorities said they remain concerned that ash from the Eyjafjallajokull volcano could start drifting over the UK. The Irish Aviation Authority (IAA) warned yesterday that northerly winds forecast for the coming days could direct the ash cloud into UK [...]
