Dentsu to buy Aegis for £3.2bn July 12, 2012 Dentsu has agreed to buy British marketing group Aegis for £3.2bn in a bid to combine the Japanese firm’s strong presence in Asia with the British group’s footprint in Europe and digital services. Dentsu said it had agreed to pay 240 pence for each Aegis share, a 48 per cent premium to the closing price [...]
Primark keeps AB Foods on track July 12, 2012 Associated British Foods confirmed that it is on track for substantial growth in full-year adjusted operating profit and adjusted earnings per share after a strong performance from its discount fashion chain Primark boosted year-to-date revenues. The London-based food and retailing group said that revenues rose 11 percent in the 40 weeks to 23 June, or [...]
Opec says growth in oil demand to slow in 2013 July 11, 2012 World oil demand growth will slow in 2013 from the already weak 2012, OPEC said on Wednesday, citing Europe’s debt worries, a faltering US economic recovery and deceleration of growth in emerging markets. The Organisation of the Petroleum Exporting Countries (OPEC), which produces a third of global oil, said healthy output levels from non-OPEC producers [...]
FTSE tracks Wall Street losses July 11, 2012 The FTSE 100 fell in early trading tracking overnight losses on Wall Street as the US earnings season revealed corporate weaknesses. US stocks fell for a fourth day after a sales warning from engine maker Cummins came on top of earlier weak forecasts from chipmakers Applied Materials and Advanced Micro Devices. In London luxury retailer [...]
Hays dented by Eurozone gloom July 11, 2012 Recruiter Hays said quarterly net fees rose two per cent, at the bottom end of expectations, as trading in many markets worsened with clients worried about the global economy. “Whatever country you go to in the world, all of the European sovereign debt issues are front and centre on the newspapers and press,” finance director [...]
JD Wetherspoon sales rise with Euros boost July 11, 2012 Pub operator JD Wetherspoon said cost pressures from government legislation would weigh this year on what has so far been a solid performance boosted by major events. Wetherspoon, whose cut-price drinks and meal offers had made it one of the stronger performing pub chains through the economic downturn, said like-for-like sales for the 11 weeks [...]
Barratt sees profit rising in more stable market July 11, 2012 Housebuilder Barratt Developments said it would post a big rise in full-year profit, while its strong forward orderbook meant it saw further scope for progress in the year to come as the UK market remained stable. “The group has made significant progress in both rebuilding profitability and reducing indebtedness during the year just ended,” Barratt [...]
Xstrata sets 7 September for Glencore merger vote July 11, 2012 Miner Xstrata said 7 September was the new date for a shareholder vote on its planned $26bn takeover by Glencore, after changes to retention deals for executives forced it to push back a meeting initially planned for this week. The delay will give commodities trader Glencore, Xstrata’s largest shareholder, weeks more to hammer out a [...]
Burberry sales growth slows July 11, 2012 Luxury brand Burberry posted a slight slowdown in quarterly sales growth as trading conditions worsened in its markets. The 156-year-old firm, famous for its raincoats lined with a distinctive camel, red and black check pattern, said on Wednesday revenue was £408m in the three months to the end of June, its fiscal first quarter, an [...]
FTSE steadies after Alcoa results July 10, 2012 The FTSE 100 was flat today with aluminium giant Alcoa reporting positive results to start the US earnings season which helped steady investors’ nerves. Alcoa saw its quarterly revenue and profit beat Wall Street’s expectations even though prices for its aluminium are at nearly two-year lows. Meanwhile Eurozone finance ministers have agreed to lend Spain [...]
