Lancashire still under pressure November 6, 2013 LANCASHIRE Holdings posted a 67 per cent decline in third-quarter profit as the property and casualty insurer recorded lower investment returns and took hefty losses from recent storms and floods. The London listed insurer, which writes policies for heavy-duty assets such as oil rigs, ships and aircraft, said pricing remained under pressure. Pre-tax profit fell [...]
Centrica agrees on £4.4bn gas import contract with Qatar November 6, 2013 FTSE 100-listed energy firm Centrica, which owns British Gas, yesterday confirmed it has signed a £4.4bn deal with Qatar to supply the UK with liquefied natural gas (LNG). Under the four-and-a-half year agreement, Qatargas will supply up to three million tonnes per year of LNG, which could provide enough gas to meet around 13 per [...]
Elop and Mulally make Microsoft shortlist for next chief executive November 6, 2013 MICROSOFT has reportedly narrowed its list of candidates to replace chief executive Steve Ballmer, with five candidates vying for the role including former Nokia chief executive Stephen Elop and Ford Motor chief Alan Mulally. The shortlist includes three internal candidates, Skype chief Tony Bates who is responsible for Microsoft’s business development; Satya Nadella, the company’s [...]
Sales slower at Whole Foods November 6, 2013 WHOLE Foods Market yesterday reported same-store sales that decelerated in the fourth quarter and the grocer lowered its sales forecast for 2014. Same-store sales at the upmarket grocer rose 5.9 per cent for the fourth quarter ended 29 September, the slowest pace of the year.
Mondi profits increase 25pc November 6, 2013 SOUTH African paper maker Mondi yesterday posted a 25 per cent increase in third-quarter operating profit to €138m (£116m), due to improved market conditions and the benefits from the acquisitions completed towards the end of 2012. The FTSE 100-listed firm is on track for 2013, but said next year depends on the macroeconomic recovery.
Energy switch enquiries lift Moneysupermarket November 6, 2013 SWATHES of customers looking to switch energy suppliers boosted Moneysupermarket.com’s revenue 25 per cent in the first few weeks of October. The company, whose website helps customers to compare insurance, utilities and energy prices, reported overall revenue growth for the third quarter to 30 September of five per cent. Moneysupermarket attributed the dramatic increase in [...]
Bottom Line: Comparison site knows something we don’t November 6, 2013 THE number of people switching energy provider – gas or electricity – fell to just two per cent in the second quarter of this year, from three per cent in 2012, the lowest since records began in 2003, with consumers apparently refusing to exercise their sovereignty despite rocketing prices – or so official figures from [...]
Investors impressed with maiden update from estate agent Foxtons November 6, 2013 LONDON-FOCUSED estate agent Foxtons said yesterday it did not expect a significant rise in property sales across the capital, as it reported higher earnings and turnover in its first market update since its September market debut. Foxtons, known for its fleet of staff-driven Mini Cooper cars and cafe-style branches, enjoyed a strong stock market launch [...]
Help to Buy lifts Persimmon new sales past 3,000 November 6, 2013 HOUSEBUILDER Persimmon said yesterday it has sold over 3,000 homes under the government sponsored Help to Buy scheme, in yet another sign of rising confidence in the housing market. Chief executive Jeff Fairburn said that while 90 per cent of sales were to first-time buyers, growing market confidence was prompting more second and third-time buyers [...]
Millennium & Copthorne defies tough market with rise in profit November 6, 2013 MILLENNIUM & Copthorne (M&C) Hotels posted a six per cent rise in third quarter profits yesterday, boosted by sales from recently refurbished hotels. The company, which owns over 100 sites including hotels at Chelsea football club’s Stamford Bridge, reported pre-tax profits of £40.4m and said revenue per available room (revpar) rose 3.4 per cent in [...]
