Oil price rises over Oman supply fears February 28, 2011 Brent crude rose over one per cent to near $114 a barrel today (Monday) as protests in Oman fuels concern about security of supply from the Middle East and North Africa even as top exporter Saudi Arabia pumps more. Oman is the latest producer to feel the impact of the regional unrest, although its oil [...]
AB Foods profit to rise but Primark stalls February 28, 2011 Associated British Foods said it expects a rise in half-year operating profits despite a slowdown at its discount fashion retailer Primark and flat profits at its UK sugar operations. The London-based company said Primark’s like-for-like sales will be three per cent ahead while its operating profit margins will be lower reflecting a tax hike in [...]
US growth revised down February 25, 2011 The US Department of Commerce has cut its estimate of fourth quarter growth to 2.8 per cent, from 3.2 per cent previously. Analysts had instead expected the figure to be revised up slightly to 3.3 per cent.
UK GDP in new blow February 25, 2011 The economy contracted even faster than previously thought in the last three months of 2010, shrinking by 0.6 per cent, after downward revisions to industrial and services output, official data showed on Friday. The figures may make Bank of England policymakers think twice about raising interest rates, although there have been signs that activity picked [...]
LSE resumes trading after technical problem halts early trade February 25, 2011 Trading in British shares was halted at the open this morning with bourse operator London Stock Exchange saying it was because of technical issues. Effectively there was no early trading in UK equities until 12.15pm after the computer problems. Earlier this month the LSE moved to a faster trading platform. On Tuesday, Borsa Italiana, a [...]
William Hill profit at top of forecasts February 25, 2011 William Hill, Britain’s biggest bookmaker by market value, reported full year operating profit at the top end of expectations, benefiting from a strong performance from its online business and gambling machines. The company, which has around 2,300 betting shops in Britain and Ireland, on Friday said operating profit for the year to 29 December rose [...]
Lloyds reports £2.2bn profit February 25, 2011 Lloyds Banking Group has announced its first annual profits since being bailed out by the Government during the financial crisis. The company, which is 41 per cent owned by the taxpayer, reported pre-tax profits of £2.2bn, compared with a £6.3bn loss in 2009. The bank’s bad debt losses were down in 2010 to £13bn, from [...]
Centrica profit rises after cold snap February 24, 2011 British utility Centrica reported a sharp rise in full-year profit, boosted by higher power demand during the severe winter and as it added more residential customers. Centrica, which owns Britain’s biggest household energy supplier British Gas, reported an adjusted operating profit of £2.39bn, on sales marginally higher at £22.4bn. “British Gas has had a strong [...]
BAT in share buyback as earnings rise February 24, 2011 British American Tobacco, the world’s second-biggest cigarette maker, announced a share buyback programme of £750m as it met forecasts with a 15 per cent rise in 2010 earnings. The London-based maker of Kent, Dunhill, Lucky Strike and Pall Mall cigarettes, said it had gained from higher prices, acquisitions and the pound’s weakness, and it was [...]
Mouchel confirms sale talks “advanced” February 24, 2011 Mouchel has confirmed its is locked in talks over a possible takeover from a “preferred bidder”, believed to be Costain. The business services group said in a statement to the stock market: “The Board is pleased to confirm that it is now in advanced discussions with one potential offeror and has signed a co-operation agreement [...]
