FTSE hit by fresh volatility August 11, 2011 The top share index pared gains by midday, as concerns over the stability of European banks in the face of the global debt and growth crisis took the wind out of an earlier advance. Barclays, Royal Bank of Scotland and Lloyds Banking Group swung violently on worries banks will sustain further losses associated with exposure [...]
Emergency borrowing from ECB soars August 11, 2011 Emergency overnight borrowing from the European Central Bank surged, figures showed, as banks waited for an injection of ECB six-month funds and amid fears about the health of Italian and French banks. Banks took over 4 billion euros of overnight funds from the ECB, the highest since mid-May. Banks have to pay 2.25 per cent [...]
Murdoch says Carey next in line for top job not his son August 11, 2011 Rupert Murdoch acknowledged for the first time publicly that his son James is not the preferred choice to succeed him as News Corp chief executive, at least in the near-term. In the clearest indication yet that the phone hacking scandal enveloping News Corp’s UK operations has damaged the succession ambitions of James Murdoch, his father [...]
European markets bounce back August 11, 2011 European markets made a tentative recovery this morning after fears over France’s credit rating triggered losses across the globe. Rumours that agencies were planning to take away France’s Triple A rating were denied and President Sarkozy moved to reassure investors, which lifted stocks. The intervention came after the country’s banks took a battering yesterday with [...]
Heathrow sees record passenger numbers August 11, 2011 Heathrow aiport saw a record 6.9m passengers in July. The month also included the airport’s busiest day in its history on Sunday 31 July, airport owner BAA said. Passenger numbers were up 2.5 per cent on the same period a year ago. However, Stansted numbers fell 7.2 per cent. BAA’s three Scottish airports – Glasgow, [...]
Psion hit by first half revenue dip August 11, 2011 Mobile device maker Psion said revenue for the first half-yea was £81.4m compared with £84.7m in the same period last year The fall has been attributed to one-off supply chaion supply chain issues. Orders booked in the period were seven per cent up last year.
Asian markets stem earlier losses before close August 11, 2011 Asian shares rallied slightly before close after fears over the credit rating of France had dragged markets down. The European debt crisis overshadowed growth prospects in Asia. Stocks pulled back from initial steep falls, with Japan’s Nikkei 225 index pulling back from an opening fall of 1.8 per cent to close 0.79 per cent lower. [...]
AB InBev offets weakness with price hike August 11, 2011 Anheuser-Busch InBev, the world’s largest brewer, lifted core profit in the second quarter as price rises compensated for weak beer sales in its main markets of the United States and Brazil. The maker of Stella Artois and Budweiser said on Thursday that in the United States shipments of its own beer fell 1.7 per cent, [...]
SABMiller prepares new assault on Foster’s August 10, 2011 Global brewer SABMiller is set to renew its assault on Australian bid target Foster’s later this month with a slightly higher offer likely to succeed after rival bidders fail to appear, bankers and investors told Reuters. The London-based brewer will wait for Foster’s full-year results on 23 August, which will make dismal reading with beer [...]
Bank cuts growth outlook August 10, 2011 Britain’s economy will grow more slowly this year and next than expected three months ago due to a weaker global economy, meaning inflation is likely to fall rapidly next year, central bank forecasts showed, In its quarterly Inflation Report, the Bank of England gave no indication that there was any urgency to raise interest rates [...]
