US service sector growth speeds up January 5, 2012 The the US service sector is picking up pace, according to a the latest figures. The Institute for Supply Management (ISM) said its services index rose to 52.6 last month from 52 in November. A reading above 50 indicates expansion. The ISM survey of US services covers industries ranging from utilities and retailing, to healthcare [...]
ENRC to pay out $1.25bn to settle Congo dispute January 5, 2012 Kazakh miner ENRC said it agreed a $1.25bn (£806.4m) settlement with Canada’s First Quantum Minerals to end a long-running dispute over ownership of the Kolwezi project in the Democratic Republic of Congo. The London-listed miner said the deal would enable it to start developing its operations at the copper-cobalt Kolwezi Tailings project. ENRC will pay [...]
Service sector in surprise boost January 5, 2012 The UK services sector picked up pace in December as companies saw more new business flowing in, a survey showed today, dampening fears the economy is already back in recession. The Markit/CIPS Purchasing Managers’ Index (PMI) for the service sector rose to 54.0 in December from 52.1 in November, confounding expectations for a dip to [...]
Clegg warns over bankers’ bonuses January 5, 2012 The government plans tough action to rein in what it regards as excessive bank bonuses, Deputy Prime Minister Nick Clegg said on Thursday, firing a warning shot ahead of the annual round of payments. “It’s the Liberal Democrats who have led the debate on clamping down on bankers’ bonuses and we must be just as [...]
RBS hires Lazard for investment bank shake-up January 5, 2012 Royal Bank of Scotland has hired investment bank Lazard to advise it on a scale-back of its investment banking arm, including options to sell parts of the business, a source with knowledge of the matter said. “It is part of the ongoing review that was launched in November, and it includes options to sell parts [...]
Oil explorer Cove puts itself up for sale January 5, 2012 British oil and gas explorer Cove Energy said on it had put itself up for sale and would conduct a formal sale process through its advisor Standard Bank. The company said in December it had offered data to parties who had expressed an interest in acquiring its 8.5 per cent stake in the Rovuma Area [...]
JJB sales up 5pc January 5, 2012 JJB Sports has said like-for-like sales rose five per cent in the four weeks to 26 November. Like-for-like sales for the 21 weeks to 26 December were down 7.8 per cent. But that was an improvement on the 17.7 per cent fall reported for the previous six months. JJB said the consumer environment was still [...]
Clinton Cards hit by “tough” Christmas trading January 5, 2012 Clinton Cards has said it found trading “tough over the Christmas period. Like-for-like sales rose 0.4 per cent in the five weeks to 1 January. In the 22 weeks to 1 January like-for-like sales fell 1.4%. chief executive Darcy Willson-Rymer, who took over in October, is in the middle of a review aimed at getting [...]
Yahoo names PayPal’s Thompson as new chief January 4, 2012 Yahoo named PayPal President Scott Thompson as its chief executive, taking over on 9 January from interim CEO Tim Morse, who will resume his role as chief financial officer. Thompson’s appointment comes five months after the firing of former CEO Carol Bartz as former Web powerhouse Yahoo struggles to compete with newer heavyweights Google and [...]
Lawrence murderers given life sentences January 4, 2012 Two men who took part in the murder of black teenager Stephen Lawrence in 1993 – a landmark case which exposed what an inquiry called the “institutional racism” of London’s police force – were given life sentences today. Judge Colman Treacy ruled that Gary Dobson should serve a minimum 15 years and two months and [...]
