Reckitt reassures on earnings after rival’s problems July 30, 2012 Reckitt Benckiser is growing faster than its markets despite tough trading in southern Europe and some slowing in emerging markets, as the British consumer goods group focuses on its top brands and fastest-growing regions. Chief executive Rakesh Kapoor, who took over last September after Bart Becht’s shock decision to retire, today reported half-year earnings rose [...]
GE says Olympics bring in $100m in sales July 30, 2012 General Electric sold about $100m (£63.6m) of lights, power supplies and medical devices for the London Olympic Games, less than for Beijing’s massive build-out but still enough to justify the largest US conglomerate’s sponsorship, according to officials. Since signing on as a top-level Olympic sponsor in 2005, GE has generated about $1 billion in revenue [...]
Russian co-owners vote against TNK-BP $1bn payout July 30, 2012 The directors of a consortium of billionaires who co-own TNK-BP have voted against a proposal for the company to pay $1bn (£637 m) in 2012 dividends, putting pressure on BP to resolve conflict and ownership issues at the Anglo-Russian oil venture. British oil major BP and its oligarch partners jointly own the TNK-BP venture but [...]
Recession bites Ryanair profits July 30, 2012 Ryanair, Europe’s biggest budget airline, undershot analyst forecasts with a profit slide of 29 per cent in the three months to June as it grappled with a toxic mix of austerity, recession and stubbornly high fuel prices. The Dublin-based airline said the weak economic outlook for Europe would continue to restrain fare growth for the [...]
Russian TNK-BP profit slumps on weak crude July 27, 2012 Russia’s third-largest oil producer TNK-BP International said on Friday its second quarter net profit slumped to $808m (£513) from $2.2bn a year ago on the back of lower crude prices and higher taxes. The company, half-owned by BP, said Russian Urals crude oil prices declined 7 per cent during the period, while it had to [...]
William Hill bullish after 13 per cent profit rise July 27, 2012 William Hill, Britain’s largest bookmaker, said it was on track to meet its full year targets after first half profit before tax rose to £143.3m, in line with forecasts. The company is best known for its chain of 2,370 betting shops in Britain, but is expanding overseas and like other gaming companies has a growing [...]
Costs weigh on Anglo American as profits drop July 27, 2012 Miner Anglo American saw profits drop almost 40 per cent in the first half of the year as faltering global economic growth hit the prices of key commodities like iron ore and platinum, but failed to bring down costs. The trend of weaker prices and still-rising costs has battered the major miners that have reported [...]
Airbus delays A350, EADS lifts forecasts July 27, 2012 European planemaker Airbus delayed the introduction of its newest passenger jet, the carbon-composite A350, as parent EADS unveiled better-than-expected second-quarter earnings lifted by resilient demand for its existing range of jetliners. The three-month delay follows a glitch in wing production and pushes first delivery of the all-new A350 – Europe’s answer to the Boeing 787 [...]
Barclays sorry for Libor as profits top £4bn July 27, 2012 Barclays said it was confident it will repair the damage caused by an interest rate rigging scandal that has rocked it and the banking industry after beating expectations with a £4bn profit. “We are sorry for the issues that have emerged over recent weeks and recognise that we have disappointed our customers and shareholders,” chairman [...]
Smartphones power record $5.9bn Samsung profit July 27, 2012 Samsung Electronics, the world’s top technology firm by revenue, reported on Friday a record operating profit of $5.9bn (£3.7bn) for the June quarter, as rampant Galaxy S handset sales helped stretch its lead over Apple. September quarter mobile profits are expected to forge further ahead as the latest Galaxy model enjoys a sales boom before [...]
