Findel losses widen November 29, 2011 Findel’s adjusted pretax loss widened for the first half, but the British home shopping and sports-kit retailer said its largest unit was on track for a very strong Christmas with current trading ahead of last year. For the six months to 30 September, Findel reported a pretax loss before exceptional items and terminated operations of [...]
IG forecasts 23pc revenue lift November 29, 2011 Spread-betting company IG Group said first-half revenue should rise 23 per cent, with trading volumes lifted by market volatility. “Following on from a strong first quarter, the group has continued to experience high levels of client activity during the second quarter of its financial year,” IG said in a statement. The company expected first-half revenues [...]
House prices rise for third month November 29, 2011 House prices edged up in November, beating expectations and despite a weak economy, but activity remains subdued and prices are more likely to dip in the next 12 months, mortgage lender Nationwide said. House prices rose 0.4 per cent from October on a seasonally adjusted basis, their third straight monthly increase, a Nationwide survey showed. [...]
Banks lift markets after Italy IMF bailout claims November 28, 2011 Banking shares helped fuel rises on the FTSE 100 in early trading as reports in Italy suggested that the beleaguered country is to receive an aid package from the international Monetary Fund (IMF). The package would help shore up Italy’s finances by up to €600bn (£515.8bn), newspaper La Stampa said. But the IMF distanced itself [...]
OECD: UK to return to recession November 28, 2011 Britain will slip into a modest recession early next year, the OECD said, slashing its 2012 growth forecast and urging the Bank of England to expand its asset purchase programme. On the eve of Chancellor George Osborne’s latest budget and growth announcements, the Organisation for Economic Co-operation and Development said the government may have to [...]
Government to inject £25bn into infrastructure November 28, 2011 Britain plans to pump £25bn into infrastructure projects, part funded by private investment from pension funds, to help bolster its economy, Treasury Minister Danny Alexander said. Alexander told BBC Radio an agreement had been signed with the big British pension funds to pump £20bn into projects such roads and railways. An additional £5bn of government [...]
Rolls-Royce seals deal with pension fund trustees November 28, 2011 Aero enginemaker Rolls-Royce has reached a deal with the trustees of its pension fund to offset the risk of pension scheme members living longer than expected. Rolls, the world’s second-largest maker of aircraft engines behind US group General Electric said the longevity swap deal it had agreed would give additional security to all members of [...]
China plans raid on European assets November 28, 2011 China’s Commerce Minister plans to lead an investment delegation to Europe next year, hoping to pick up some plum assets on the crisis-hit continent. China has been reluctant to publically commit to buying additional European bonds, despite pleas for help, but could be much more interested in getting hard assets for its cash. “Next year, [...]
Moody’s warns over ratings of all Euro area bonds November 28, 2011 Moody’s Investors Service has warned the rapid escalation of the Eurozone sovereign and banking crisis threatens the credit standing of all European government bond ratings. “While Moody’s central scenario remains that the euro area will be preserved without further widespread defaults, even this ‘positive’ scenario carries very negative rating implications in the interim period,” the [...]
BAA appeals to airlines to slash passengers as Heathrow strike looms November 25, 2011 Heathrow airport operator BAA has asked airlines to halve the number of international passengers arriving into the UK on 30 November, when border staff strike over pensions. BAA, owned by Spanish infrastructure group Ferrovial, on Friday warned of significant disruption to passengers arriving at Heathrow next Wednesday with delays that could last up to 12 [...]
