UK manufacturing slows as costs rise April 1, 2011 UK manufacturing growth came under pressure in March and output prices rose to a record high, according to a new report. Manufacturing activity fell to 57.1 on the Markit/CIPS purchasing managers index, down from a record high of 60.2 in February, as growth slowed to a five-month low. A combination of weak consumer confidence, surging [...]
Best of the April Fools April 1, 2011 We round up the funniest April Fool’s stories found in the papers today. The Guardian is running a blog called ‘Royal Wedding Live’, with updates on the big day including: “the coverage will be helmed by Piers Morgan, sitting on a giant throne suspended from the upper level of Tower Bridge.” The Telegraph has published [...]
Wi-fi to be installed at tube stations by Olympics March 25, 2011 Commuters will be able to check emails on the Tube by the start of the London Olympics. Transport for London (TFL) said a successful trial at Charing Cross meant wi-fi coverage would eventually be installed on the whole Underground network. Telecoms companies will now bid to set up the network with 120 stations to be [...]
Hornby steps down as Alliance Boots chief March 25, 2011 Andy Hornby, the man in charge of HBOS bank when it was rescued by Lloyds Banking Group, has resigned as chief executive of Alliance Boots. After what Hornby called “an intense five years” as boss of first HBOS and then Boots, he said he had decided to take “a few months’ break”. Boots said it [...]
Stanley Gibbons launches online trading site March 25, 2011 Stanley Gibbons said that it is planning to trade online while wealthy Chinese stamp collectors have helped to boost its profit. The stamp specialist will launch an online trading platform early Autumn 2011. There will be a charge to use it for buying and selling, so creating revenue for the historic firm. Overall sales in [...]
BHP Billiton pumps $9.5bn into expansion March 25, 2011 Miner BHP Billiton has said it will pump in $9.5bn (£5.9bn) to expand its Australian iron ore and coal mining operations. The world’s biggest miner has decided to expand its own operations and infrastructure rather than chase ambitious takeovers after three failed deals as it scrambles to meet rising demand from Asia. The investments announced [...]
Eurozone agrees bailout shake-up March 25, 2011 European leaders have agreed a restructuring of a financial bail-out fund in a bid to solve the debt crisis which is stalking the zone. Eurozone ministers bowed to German demands to renegotiate the time frame for contributions to the fund, at a Brussels summit. However the situation with Portugal, which rejected suggestions it needed a [...]
Goldman slips to tenth in M&A League March 25, 2011 Goldman Sachs made its worst showing in US deal advisory rankings in more than two decades, sliding to 10th place in the first quarter of this year. While deal rankings can move around dramatically each quarter, it is still embarrassing for Wall Street’s premier bank to have fallen in the pecking order. League tables are [...]
Vacuum giant Edwards looks for £2.1bn in float March 25, 2011 Vacuum technology maker Edwards set a price range of 200 to 270 pence for its London listing, two sources close to the deal said. Private equity-backed Edwards will sell around 35 percent of the company in the offering, which is made up entirely of existing shares, valuing the company at between £1bn and £1.3bn, the [...]
Songbird profit fuelled by Lehman sale March 25, 2011 SONGBIRD, the company which own large chunks of Canary Wharf, has reported a sharp rise in annual profits. The lift was fuelled in part by the sale of the old Lehman Brothers building to JP Morgan. Songbird Estates posted pre-tax profits for 2010 of £463.8m – a rise of 39 per cent on the £334.6m [...]
