National Express upbeat as trading hits targets December 20, 2011 British bus and rail operator National Express said that trading remained strong across all its divisions and that it expected to report 2011 results in line with management expectations. “National Express is finishing 2011 in excellent shape. We are growing revenue and profit in all five of our divisions,” chief executive Dean Finch said in [...]
Banks hit by Vickers as North Korean leader dies December 19, 2011 The FTSE 100 was solid this morning but the festering Eurozone crisis continued to sap confidence in riskier assets and banks were down as the government confirmed that they would be hit with the full impact of the Vickers Report. But the agenda was dominated by the death of North Korean leader Kim Jong-il, sparking [...]
Ocado issues profit warning December 19, 2011 British online grocer Ocado said its full-year earnings were on track to rise by at least a quarter after an easing of supply bottlenecks at its main distribution centre helped weekly deliveries hit a new record. But Ocado, which mostly sells the products of high-end supermarket chain Waitrose, said underlying earnings for the year to [...]
HMV losses widen December 19, 2011 Entertainment retailer HMV, grappling with waning demand in its core CD and DVD markets, posted wider first-half losses and warned it faces a battle to stay in business. The 90-year-old group, famous for its Nipper the dog trademark, said it had adequate resources to continue trading for the foreseeable future. “However, the economic environment and [...]
North Korean leader Kim Jong-il dies December 19, 2011 North Korean leader Kim Jong-il died of a heart attack while on a train trip, state media has reported, sparking immediate concern over who is in control of the reclusive state and its nuclear programme. A tearful television announcer dressed in black said the 69-year old had died on Saturday of physical and mental over-work [...]
PwC faces probe over auditing of BarCap December 16, 2011 Accounting firm PricewaterhouseCoopers (PwC) is being investigated over its auditing of Barclays Capital Securities in relation to the investment bank’s compliance with rules governing the protection of client money. The Accountancy and Actuarial Discipline Board said on Friday its investigation would cover PwC’s conduct in preparing reports on Barclays Capital, the investment banking arm of [...]
Fresh French assault on UK economy December 16, 2011 French Finance Minister Francois Baroin added to the verbal assault on the UK economy by his country’s officials as France struggles to cope with the threat of an imminent ratings downgrade. “The economic situation in Britain today is very worrying, and you’d rather be French than British in economic terms,” Baroin told Europe 1 radio. [...]
Laura Ashley closes stores as online sales rise December 16, 2011 British fashion and homeware retailer Laura Ashley added to the gloom on the high street by reporting a decline in sales in its stores in recent weeks, but said that online business was booming. The firm closed five stores this year, on top of the fourteen it closed last year, and said that overall UK [...]
Miners fuel FTSE gains December 16, 2011 The FTSE 100 continued where it left off in the last session with a moderate rally fuelled by positive data from the US. US weekly jobless claims fell to a three-year low suggesting that its economic recovery was still on track. But markets still remain braced for credit rating downgrades for Eurozone countries as agencies [...]
Sports Direct ditches Blacks bid December 16, 2011 Sports Direct has decided not to proceed with an offer for Blacks Leisure. Earlier this week Blacks Leisure, the struggling outdoor goods company, said it had received an expression of interest from Sports Direct International, amongst a number of others, “which may or may not lead to an offer being made.” Sports Direct said in [...]
