Ferrexpo profits jump as production booms March 12, 2014 Iron ore miner Ferrexpo has enjoyed a jump in profit before tax of 15 per cent to £305m, for the year ended 31 December 2013. Revenue also grew by 11 per cent to £1.5bn. The company, which has operations in Ukraine, expressed its condolences for those who have been impacted by the political turmoil in [...]
Asian markets slide as China fears hit commodities March 12, 2014 Asian markets are taking a beating this morning amid concerns of a weakening Chinese economy and tensions in Ukraine, ahead of Crimea's referendum on Sunday. Copper is suffering a significant fall while gold is making gains. Weak Asian markets reflect Wall Street's uncertainty over the strength of the US economy. However, many investors are remaining [...]
Think tank estimates growth of 0.8pc in three months to February March 11, 2014 The UK economy grew 0.8 per cent in the three months ending in February, according to a GDP estimate from the National Institute of Economic and Social Research (Niesr). This is slightly up from the 0.7 per cent growth seen in the three months ending in January. The think tank said this implies that output [...]
Co-op accepts Sutherland resignation March 11, 2014 The Co-op has accepted the resignation of the group's chief executive Euan Sutherland with immediate effect. Sutherland said in a statement that he would not accept the retention payments and long term incentive payments that were previously agreed. Richard Pennycook, chief financial officer, has been appointed as interim group chief executive. Sutherland said: It is [...]
Cyprus appoints new central bank governor March 11, 2014 Cyprus has appointed Chrystalla Geoghadji as the new governor of the country's central bank. Geoghadji has been Cyprus's auditor general since 1998. She will take up take up her new post on 11 April. The appointment follows yesterday's announcement by the government of confirming the resignation of its central bank governor Panicos Demetriades. Relations between [...]
David Cameron’s onshoring dream is unlikely to become a reality says top economist March 11, 2014 A recent report by PwC predicted that as many as 200,000 new roles could be created over the next decade, thanks to companies that had relocated their operations outside of the UK returning, a process commonly known as onshoring. The trend of companies bringing jobs back to the UK could boost the nation's wealth by [...]
Union leader Bob Crow passes away March 11, 2014 The 52 year old leader of the Rail Maritime Transport (RMT) union Bob Crow has passed away. He died at Whipps Cross hospital from an aneurysm and heart attack according to initial reports. Geoff Martin of the RMT said in a statement: It is with the deepest regret that RMT has to confirm that our [...]
MtGox wins US bankruptcy protection March 11, 2014 Troubled Bitcoin exchange MtGox has received some welcome news as a Texas judge temporarily halted two US lawsuits, while bankruptcy proceedings continue in Japan. In February, MtGox filed for bankruptcy protection in Tokyo and said it had an outstanding debt of $63m (£37m). MtGox will return to court 1 April to attempt to extend the [...]
Barratt Developments snaps up Dixons boss March 11, 2014 Barratt Developments has announced the appointment of Dixons chairman John Allan, as a non executive director and chairman designate. Allan will join Barratt's board on 1 August, and will succeed Bob Lawson who has been chairman since 1 July 2008 following the company's AGM on 12 November. Commenting on the appointment, Bob Lawson, chairman, said: [...]
Foxtons expands across London as profits boom March 11, 2014 London-focused estate agent Foxtons has reported a boom in profit before tax of 56.6 per cent to £38.9m, in preliminary results for the year ended 31 December 2013. Foxtons also enjoyed a jump in revenue of 16 per cent to £139m, while sales volumes grew by 22 per cent. The company said it had a [...]
