BP shares up after Rosneft exploration deal January 17, 2011 Shares in BP rose two per cent following the share swap and arctic exploration deal that the London-based oil major signed with Russia’s largest oil producer Rosneft late on Friday. Analysts said the deal with state-controlled Rosneft opened up massive reserves in the arctic, a region they said was believed to contain one fifth of [...]
Stanley Gibbons expects Royal Wedding boost January 17, 2011 British stamp-collecting and memorabilia firm Stanley Gibbons Group said it expected 2010 revenue to beat market estimates, and it would benefit from the sale of commemorative collectible products related to the royal wedding. The royal wedding, to take place at London’s Westminster Abbey on 29 April, is seen boosting Britain’s economy by nearly $1bn. The [...]
Richemont sales soar thanks to China boom January 17, 2011 Swiss luxury goods group Richemont healthy sales growth in all business areas in its third quarter as wealthy Chinese continued to splash out on Cartier jewellery and timepieces. Sales in the Asia-Pacific region rose 42 per cent in local currencies, the world’s second largest luxury goods group behind French rival LVMH said, while sales overall [...]
Costain wins contract to build new Thames bridge January 17, 2011 Construction firm Costain said it had won a contract to build the first major road crossing over the River Thames in almost 20 years. The firm said it had received the go-ahead from Surrey County Council to construct the bridge between Walton and Shepperton as part of a £32.3m scheme. The Walton bridge is due [...]
Costain wins contract for ne Thames bridge January 17, 2011 Construction firm Costain said it had won a contract to build the first major road crossing over the River Thames in almost 20 years. The firm said it had received the go-ahead from Surrey County Council to construct the bridge between Walton and Shepperton as part of a £32.3m scheme. The Walton bridge is due [...]
Rolls-Royce awarded US Navy contract January 17, 2011 Engineering group Rolls-Royce said it had won a contract to supply gas turbines and waterjets for up to ten of the US Navy’s Littoral Combat Ships. Rolls-Royce already supplies propulsion equipment for some of the Lockheed Martin-built vessels and the new deal extends this with one firm order and options on a further nine ships, [...]
China raises reserves required by lenders January 14, 2011 China’s central bank raised lenders’ required reserves for the fourth time in just over two months, stepping up the fight against inflation that it has vowed will be a top priority for the year. By forcing banks to lock up more cash with the central bank, Beijing hopes to drain excess money from the economy [...]
Europe considers boosting bailout fund January 14, 2011 France’s economy minister, Christine Lagarde, has said said that the size of the European bailout fund could be increased. Ministers were also looking at extending the fund’s scope to buy bonds directly on markets, she added. Her comments follow suggestions from other senior European officials who feel the rescue fund is not big enough. Opponents [...]
Factory gate inflation rises January 14, 2011 Factory gate inflation rose faster than expected in December to its highest annual rate since April, driven by a sharp rise in the price of crude oil and food input costs, official data showed. The news is likely to concern the Bank of England as consumer price inflation is already more than a percentage point [...]
Bovis warns over weak mortgage volumes January 14, 2011 Bovis Homes expects full-year profit to come ahead of estimates on higher selling prices and plans to restart dividends, but the housebuilder warned of a subdued year ahead. “Mortgage approval volumes remain weak, with mortgage providers requiring high levels of deposit, particularly from first time buyers,” the company said in a statement. British homebuilders are [...]
