EasyJet passenger numbers up in January February 4, 2011 EasyJet passenger numbers rose 19.1 per cent in January compared with the same month last year. More than 3.74m people took to the skies with the carrier last month, up from 3.14m in January 2010. But the load factor, which measures how well planes are filled on average, dropped from 79.3 per cent to 78.9 [...]
LMVH sales up in luxury bounce back February 4, 2011 LVMH, the world’s biggest luxury group, posted forecast-beating fourth-quarter comparable sales boosted by strong Christmas trading, and proposed a higher dividend on the back of a record year. LVMH, whose Louis Vuitton brand accounts for half of group operating profit, said like-for-like revenue rose 13 per cent in the last quarter of 2010, beating analyst [...]
Service sector growth jumps to eight-month high February 3, 2011 Activity in the dominant services sector expanded at its fastest pace in eight months in January as business recovered after December’s snow disruption, a survey showed, which may bolster the case for higher rates. The purchasing managers’ survey from Markit/CIPS also showed a record jump in input cost inflation in the services sector, which is [...]
Vodafone raises profit forecast February 3, 2011 Strong demand in India and improving conditions in Europe helped Vodafone, the world’s largest mobile operator by revenue, to post higher third-quarter service revenues and nudge up its profit forecast for the year. The British-based firm said it now expected adjusted operating profit for the year to end-March to be towards the upper end of [...]
TUI Travel to take £30m hit from Egypt unrest February 3, 2011 TUI Travel said the unrest in Egypt and Tunisia could hit its second-quarter results by up to £30m, though said first-quarter losses narrowed. “The Egypt and Tunisia situation could impact the quarter two result by £25m to £30m,” TUI Travel said in a statement. The company said it would take a hit of at least [...]
BT profit lifted by Global Services February 3, 2011 BT reported a seven per cent increase in third-quarter core profit as it continued to cut costs, and said its recovering Global Services unit would be free cash flow positive this year. Britain’s biggest fixed-line services supplier said it had gained market share in retail broadband and now had 53 per cent of the market. [...]
Shell profit soars – but misses forecast February 3, 2011 Royal Dutch Shell posted a near fivefold increase in fourth quarter net profit – powered by higher oil prices. The company said fourth quarter 2010 earnings, on a current cost of supplies basis, were $5.7bn (£3.5bn) compared to $1.2bn a year ago when the company suffered heavy refining losses. Excluding non-operating and one-off items, the [...]
Former Dresdner banker jailed for insider dealing February 2, 2011 A former Dresdner banker has been jailed for three years and four months for running an eight-year insider dealing scam, a record victory for the government’s much-criticised banks regulator in its battle against cheats. Christian Littlewood, who had pleaded guilty to eight counts of insider dealing but blamed his wife Angie and her Singaporean friend [...]
Sterling jumps as Sentance sounds alarm over rates February 2, 2011 Sterling rose to its highest in three months against the dollar today after comments by Bank of England’s Andrew Sentance in an interview with City A.M. warning of the consequences of failing to raise interest rates. The Bank’s policy making committee is moving toward his view with Martin Weale also coming out in favour of [...]
Construction activity bounces back February 2, 2011 Construction activity returned to growth in January, helped by better weather and a rise in new business, the monthly Markit/CIPS purchasing managers index showed. The PMI index rose to 53.7 in January from December’s reading of 49.1, which had been the first fall in 10 months, due to an unexpectedly severe start to the winter. [...]
