US retail sales growth stalls September 14, 2011 US retail sales failed to increase in August compared with the previous month, official figure have shown. The zero growth rate was worse than expected, and the rate for July was also revised down by the US Commerce Department, from 0.5 per cent to 0.3 per cent. Department store sales continued to suffer, according to [...]
Unemployment rises to 2.5m September 14, 2011 The number of Britons claiming unemployment benefit rose slightly less than expected last month, although the number of people without work on the wider ILO measure showed its biggest rise in two years, official data showed on Wednesday. The Office for National Statistics said the number of people claiming jobless benefit rose by 20,300 last [...]
Barratt back in the black September 14, 2011 Housebuilder Barratt Developments returned to profit for the full-year, helped by higher selling prices, and said it expected to make further progress despite the constrained housing market. The country’s largest housebuilder by volume reported full-year profit before tax and exceptional items of £42.7m, at the higher end of market estimates, compared with a loss of [...]
Next raises profit guidance September 14, 2011 Next raised its full-year profit guidance after posting an 8.5 per cent rise in half-year profit, driven by a strong performance from its Directory home shopping business. The firm, which runs over 500 stores in Britain and Ireland, said it made a pre-tax profit of £228m in the six months to 30 RETAILJuly. That compares [...]
Moody’s downgrades SocGen and Credit Agricole September 14, 2011 Moody’s Investors Service has downgraded two of France’s top banks, Societe Generale and Credit Agricole, in a new blow to efforts by European policymakers to restore market confidence in the region. The ratings agency said it was extending its review of BNP Paribas (BNPP) (BNPP.PA), but any downgrade was unlikely to be by more than [...]
Cairn shares hit as Greenland well comes up dry September 13, 2011 Oil explorer Cairn Energy said its latest well off the coast of Greenland failed to find oil, disappointing investors, who are looking to the company to open up a new oil province in the Arctic, with a second dry hole. Cairn, whose focus on Greenland has intensified since a deal to reduce its stake in [...]
IG lifted by market volatility September 13, 2011 SPREAD-BETTING company IG Group has benefited from the current market volatility which drove up trading volumes and sales. IG reported on Tuesday first-quarter revenue of around £100m, up 26 per cent, added that its pretax profit margin was higher. “The group remains well capitalised and is well positioned competitively. The board remains confident in the [...]
Inflation rises in August September 13, 2011 Inflation accelerated as expected in August, driven by record annual increases in clothing, footwear and furniture and the biggest rise in household bills in two years, official data showed. The Office for National Statistics said consumer prices rose 0.6 per cent last month, taking the annual inflation rate up to 4.5 per cent, from 4.4 [...]
HP extends deadline on £7.3bn Autonomy offer September 13, 2011 Hewlett-Packard said it extended the deadline of its $11.7bn (£7.3bn) takeover offer for Autonomy to 3 October after gaining acceptances from only 41.6 per cent of shareholders at the first closing date. Shareholders in enterprise search software firm Autonomy were expected to snap up the cash offer, which was 79 per cent above the closing [...]
National Express buys Petermann bus group for £126m September 13, 2011 Transport group National Express said it had acquired US student bus company Petermann Partners for $200m (£126m) from Macquarie Global Opportunities to help grow its business in the United States and Canada. National Expressy said it expected to complete the deal in the fourth quarter of 2011, subject to regulatory approvals, and that the acquisition [...]
