Petrol prices hit record high April 21, 2011 British fuel prices rose to record highs in early April, despite a one penny cut in fuel duty last month, the Automobile Association said, after crude prices surged because of violence in Libya. The average British petrol price has risen 15 pence to 135.8 pence per litre since last year’s Easter holiday peak driving period, [...]
Nokia warns over phone profit margins April 21, 2011 Nokia warned operating profit margins at its key phone unit would slip in coming quarters after reporting better than expected January – March earnings. January-March underlying earnings per share fell to €0.13 from €0.14 euro a year earlier, but beat analysts’ average forecast for €0.10 euro. Nokia’s market share fell to 29 per cent from [...]
Retail sales up as public borrowing improves April 21, 2011 Retail sales rose unexpectedly in March helped by stronger food sales on the month, while public sector borrowing for the fiscal year ending in March came in below the government’s target, official data showed. The Office for National Statistics said retail sales volumes including automotive fuel rose 0.2 percent last month after dropping by 0.9 [...]
William Hill upbeat on full year April 21, 2011 Britain’s biggest bookmaker William Hill said it was confident for the full year after posting a 21 per cent jump in first quarter operating profit led by demand for its onling gambling sites. The company, which has around 2,350 betting shops in the UK and Ireland, said it had also seen increased amounts wagered in [...]
Sports Direct profit up April 21, 2011 Sports Direct, the sportswear retailer controlled by the millionaire owner of Newcastle United, posted higher sales and profit on Thursday helped by growth in its core UK business. Total group sales for the nine weeks ending 27 March rose 10.3 per cent to £236m, while gross profit increased by 7.3 percent to 88 million pounds. [...]
BP launches law suits against Transocean and Halliburton April 21, 2011 BP has filed for damages totalling more than $80bn (£48bn) from Halliburton and Transocean a year after the Gulf of Mexico rig explosion that killed 11 workers and spewed millions of barrels of oil into the sea. Analysts said BP had little chance of winning the cases and was more likely trying to force the [...]
Reckitt beats forecasts despite chief’s shock exit April 20, 2011 Reckitt Benckiser beat first-quarter earnings forecasts – boosted by its SSL recent acquisition after last week’s surprise news that chief executive Bart Becht was to retire sent its shares tumbling. The British maker of Cillit Bang cleaners and Nurofen painkillers which took over Durex condoms and Scholl sandals maker SSL late last year, said it [...]
MPC remains split on interest rate April 20, 2011 Bank of England policymakers voted six to three in favour of keeping rates on hold at a record low of 0.5 per cent this month, according to minutes of April’s Monetary Policy Committee (MPC). It is the third month in a row that three members voted for a rise. The MPC said the inflation outlook [...]
Catlin says Japan quake cost £122m April 20, 2011 Insurance underwriter Catlin has estimated the cost of the earthquake and tsunami in Japan at £122m. Catlin said ina statement: “This estimate is subject to a considerable degree of uncertainty as the full scale of human and economic damage is not yet known. “It will be many months until the total amount of insured damage [...]
Home Retail profit slips as Argos chief quits April 20, 2011 Home Retail Group said its full-year pre-tax profit fell to £265.2m from £293m compared with the previous last year. Sales for the 52 weeks to 26 February 2011 hit £5.8n – down three per cent on the previous year. The figures were in line with guidance and the company maintained its 10p final dividend. The [...]
