Bayer lowers sales forecasts October 31, 2013 Bayer, Germany’s largest drugmaker, tempered its full-year sales outlook yesterday, saying unfavourable exchange rates were blunting the impact of robust sales of new drugs in the US, Latin America and Japan. The inventor of aspirin and maker of birth-control pill Yasmin said it now forecast full-year sales of about €40bn (£33.8bn), against a previous target [...]
Barrick suspends Andes construction October 31, 2013 Barrick Gold said yesterday it is suspending construction at its Pascua-Lama mine in South America, a surprise reversal on a project that has already cost billions after years of delays and cost over-runs. The world’s top gold producer also reported lower third-quarter earnings, hurt in part by a drop in the price of gold. Earnings [...]
Avon shrinks workforce after loss October 31, 2013 Avon posted weaker-than-expected third quarter sales yesterday, hurt by a big drop in North America and in growing markets like Mexico and Russia, and said the size of its sales force had shrunk. Revenue fell seven per cent to $2.26bn, including the impact from currency fluctuations. Avon reported a net loss of $5.5m compared with [...]
City Moves for 01 November 2013 | Who’s switching jobs October 31, 2013 Legal & General Property The property business has announced the appointment of Imogen Ebbs as a senior asset manager to support its limited price inflation income property fund. She was most recently at Lloyds Banking Group, where she was an associate director in its property solutions division. Baker Tilly The accountancy firm has recruited Winn Faria [...]
Middle Eastern visitors ranked as the top hotel spenders in UK October 31, 2013 MIDDLE Eastern visitors spend more on their stay in the UK than tourists from any other countries, forking out almost 60 per cent more per night on a room than the average rate. Figures released yesterday by the website Hotels.com showed that tourists from countries in the Middle East upped their spending on hotel room [...]
Unemployment hits record high in the Eurozone October 31, 2013 THE EUROZONE’S economic recovery showed signs of fltering yesterdy s unemployment hit fresh high in September, officil dt reveled. Even the lrgest economy, Germny, showed signs of wvering s its retil sles fell in the month. Eurozone unemployment incresed by 996,000 in the yer to 19.45m. Youth unemployment edged up 8,000 to 3.55m. The overll [...]
Boris Johnson calls in plans for £1bn Convoys Wharf scheme October 31, 2013 LONDON mayor Boris Johnson has taken over control of the planning process for the £1bn regeneration of Convoys Wharf in south east London, after a clash between the developer and the council. Ambitious plans to regenerate Deptford by building 3,500 homes, a new wharf, a hotel and three new towers were submitted to Lewisham council [...]
Time Warner Cable hit by CBS blackout October 31, 2013 TIME Warner Cable cut its full-year revenue growth forecast yesterday after losing more video customers than analysts had expected from a month-long blackout of CBS. Time Warner Cable, which also posted an unexpected decline in internet customers in the third quarter, said it expected full-year revenue to grow three per cent to 3.5 per cent, [...]
Countrywide lifts forecasts as it predicts housing volumes boost October 31, 2013 BRITAIN’S biggest estate agency Countrywide increased its full-year profit forecast yesterday as it bets on a strong uplift in housing sales. The company, which raised £200m when it returned to the stock market earlier this year, has been helped by the housing market recovery, fuelled by government measures to help struggling Britons purchase their own [...]
Luxury skincare products help Estee Lauder post higher sales October 31, 2013 ESTEE Lauder reported higher sales yesterday, led by gains in its luxury products such as La Mer skin cream, that helped it overcome softness in South Korea and southern Europe, and the beauty group maintained its full year sales forecast. Lauder, known for its namesake brand as well MAC, reported net income of $300.7m (£187.5m) [...]
