US inflation on the rise May 13, 2011 US inflation hit the highest level in two and a half years as food and energy prices moved higher, but there was little sign of a broader pick-up in inflation that would trouble the Federal Reserve. The Labor Department said on Friday its Consumer Price Index increased 0.4 percent in April from March after rising [...]
Glencore to close book on £6bn float early May 13, 2011 Commodities trader Glencore will close the books for its planned $11bn (£6bn) initial public offering a day ahead of schedule, underscoring strong investor demand for its shares despite volatile commodity markets. According to details in a term sheet seen by Thomson Reuters IFR and confirmed by sources close to the deal, subscriptions to the IPO [...]
EADS reports £10.5m loss May 13, 2011 Airbus owner EADS reported a first quarter net loss of €12m (£10.5m). The European aerospace and defence giant’s loss comes after a €103m profit last year. EADS expects to deliver 530 commercial aircraft in 2011 which the company said will boost its figures, the company said. Chief executive Louis Gallois, said: “Our first quarter financial [...]
Construction output falls less than expected May 13, 2011 Construction output fell slightly less sharply in the first quarter than first thought, indicating the sector was less of a drag on overall GDP growth, official data showed on Friday. The Office for National Statistics said construction output fell four per cent in the first three months, less than the initially reported drop of 4.7 [...]
German economy grows 1.5 per cent in eurozone boost May 13, 2011 Germany’s economy grew by 1.5 per cent in the first three months of 2011 compared with the previous quarter, according to official figures. The figures from Destatis, which were better than forecast, showed that domestic demand had been one of the strongest drivers of growth. Meanwhile France announced growth of one per cent in the [...]
Lloyd’s takes £2bn hit from natural disasters May 13, 2011 The Lloyd’s of London insurance market said it expects to take $1.95bn (£1.19bn) hit from the Japanese earthquake, bringing total estimated catastrophe claims in the first quarter to nearly $4bn. The loss estimate is well within the worst case scenarios Lloyd’s prepares for, and the market will have no difficulty paying claims, it said in [...]
LSE profit soars as TMX merger moves step closer May 13, 2011 London Stock Exchange, which is in the process of buying Canada’s TMX Group, easily beat analyst forecasts, reporting 2010 profit up 22 per cent to £341.1m. The British exchange, which also said it has filed its application to merge with Canadian market TMX Group, saw profits well up on last year’s £280.3m and above forecasts [...]
Takeda offers £7bn for Swiss drugs firm May 12, 2011 Japan’s largest drugmaker Takeda Pharmaceutical is in talks to buy privately-held Swiss rival Nycomed for more than $12bn (£7.39bn) in a bid to extend its global reach into Europe and emerging markets, according to sources with direct knowledge of the matter. The purchase would offer the mainly Asia and U.S-focussed maker of drugs for diabetes [...]
Industrial output rises less than expected May 12, 2011 Industrial output rose much less than expected in March, official data showed, dousing hopes that the economy may have fared better than initially reported in the first three months of this year. The Office for National Statistics said industrial output rose 0.3 in March after a 1.2 per cent fall, less than half the 0.8 [...]
3i raises dividend as client funds increase May 12, 2011 Private equity group 3i has raised its dividend by a fifth after reporting a sharp rise in investments in the year to 31 March. The full-year dividend was lifted to 3.6p a share from 3p. Total assets under management were £12.686bn, up from £9.633bn the previous year. “High quality new investment has always been central [...]
