Markets hit by Eurozone contagion fears November 7, 2011 Banks were the weakest link on the FTSE 100 this morning as the move towards a coalition government in Greece failed to impress wary investors. Greek Prime Minister George Papandreou, who attempted to call a referendum on a crucial European Union bailout plan, will stand down when the new government takes over. Eurozone ministers meet [...]
TUI forecasts 25pc sales rise November 7, 2011 Hotelbeds, the accommodation wholesaler owned by Europe’s biggest tour operator TUI Travel said it expected sales to rise by 25 percent this year and planned to ramp up its expansion in the Americas and Asia. The business, which sells accommodation at over 45,000 hotels in 147 countries to airlines and travel firms, reported total transaction [...]
Taylor Wimpey reports steady autumn November 7, 2011 Homebuilder Taylor Wimpey said trading in the busy Autumn selling period had been stable and it is on track to meet margin targets. The UK’s second-largest volume housebuilder by market value said its current order book for future completions stood at 6,265 homes, against 5,496 homes at the same point last year. The group is [...]
Ryanair lifts profit forecast by 10pc November 7, 2011 Ryanair increased its 2011 profit forecast by 10 per cent, saying higher revenues per passenger mile would offset stubbornly high fuel prices. Europe’s largest budget airline, which released first-half results, said it had seen virtually no impact from the downturn in consumer confidence, but warned traffic would fall in the coming months as it grounded [...]
Greek PM wins no confidence vote and pushes for coalition November 5, 2011 Prime Minister George Papandreou is driving for a new coalition government to save the nation from bankruptcy and prevent its crisis spreading chaos across the euro zone. In a late night speech to parliament, Papandreou said the new coalition should be formed to ram a 130-billion-euro (£112bn) bailout deal through the assembly, the last financial [...]
Car sales rise unexpectedly in October November 4, 2011 Car sales unexpectedly moved up a gear, rising 2.6 per cent in October compared to the same month last year, driven by sales of fleet and business cars. The Society of Motor Manufacturers and Traders said sales to these customers outweighed a fall of 4.3 per cent in private purchases. Sales of cars to businesses [...]
US employment continues to rise November 4, 2011 Tepid US employment figures for October released today will help allay fears of the country returning to recession. Unemployment dropped marginally to nine per cent and jobs continued to rise, although the number of jobs added was lower than September. Non-farm jobs rose by 80,000 compared to what was originally reported as an increase of [...]
Strong growth makes Meggitt optimistic November 4, 2011 Aircraft parts manufacturer Meggitt has reported strong growth in the third quarter, continuing the trend of the previous six months. The company predicts double-digit growth in orders and revenue for the full year, and further revenue growth of 10 per cent in 2012. “All market segments have contributed strongly to this profile, with growth in [...]
Italy agrees to IMF supervision November 4, 2011 Italy will allow the IMF and the EU to monitor its efforts to implement reforms aimed at easing the pressure on the country’s finances. A source told Reuters that the move is intended to give credibility to the proposed targets of reforming pensions and labour markets and carrying out privatizations. The EU and IMF will [...]
Profits down at Smith & Nephew November 4, 2011 Medical supplies manufacturer Smith & Nephew reported a fall in third quarter profits compared to the same period last year. The company, Europe’s largest maker of artificial hips and knees, reported a trading profit nine per cent down in the three months to 1 October. The group blamed the disappointing figure on the state of [...]
