UK manufacturing decline slows July 2, 2012 The decline in UK manufacturing slowed in June, figures out today have shown. The manufacturing PMI – a respected survey of the sector – stood at at 48.6, up from 45.9 in May and well ahead of the consensus forecast of 46.5. New orders also rose strongly to stand at 47.0 versus 42.0 in May.
Spain manufacturing decline accelerates July 2, 2012 Spain’s manufacturing activity contracted at its fastest rate in over three years in June as output fell again in the face of weak internal demand and sliding exports, a survey showed. The Purchasing Managers’ Index for the manufacturing sector fell to 41.1 in June, from 42.0 in May, below economists’ forecasts for it to be [...]
Export slump hits Asia factories July 2, 2012 A factory slump in Asia’s two biggest exporters China and Japan deepened in June as crumbling orders from abroad dragged activity to seven-month lows, heightening worries that the health of the global economy is deteriorating. PMI reports on major exporters South Korea and Taiwan also indicated new orders from overseas were falling. The manufacturing sectors [...]
Apple pays out $60m to settle iPad trademark dispute July 2, 2012 Royal Mail has increased annual profits and said that its core postal business is also back in the black for the first time in four years. The delivery service made a profit of £23m on revenues of £7.2bn, up from a loss of £120m last year. The business, which delivers to 29m UK addresses, says [...]
Eurozone action helps stem bank losses June 29, 2012 The FTSE 100 rose this morning as a string of measures aimed at patching up the Eurozone injected more confidence into markets. Leaders of the bloc agreed to take emergency action to bring down Italy and Spain’s surging borrowing costs, create a single supervisory body for eurozone banks, and enable the bloc’s ESM bailout fund [...]
EU deal to help banks June 29, 2012 Eurozone leaders agreed to bend their aid rules to shore up banks and bring down the borrowing costs of stricken members like Italy and Spain, in a sign the bloc is adopting a more flexible approach to solving its two-year old debt crisis. The measures, agreed after 14 hours of intense talks that pitted Rome [...]
Nike profits dip June 29, 2012 Nike reported an eight per cent fall in fourth-quarter profits to $549m (£354m), despite them expecting a lift from the Olympics. The company battled with a cost increase for labour and material and offset this by raising their product prices. Their fourth quarter revenues rose 12 per cent to $6.5bn, which was below expectations. Overall [...]
Credit Suisse makes profit in second quarter June 29, 2012 Credit Suisse made a profit in the second quarter, including at its under-fire investment bank, it said on Friday, in an unscheduled statement that underscores the pressure it is feeling to restore confidence in its battered shares. Credit Suisse shares have slumped to 20-year lows this week following a rebuke from the Swiss National Bank [...]
Melrose agrees $2.3bn Elster acquisition June 29, 2012 British buyout group Melrose announced on Friday an agreed deal to buy German utility-meter maker Elster Group for £1.4bn ($2.3bn) in its first major deal for four years. Melrose, which buys underperforming manufacturing businesses and turns them around before selling them, said it would pay $20.50 for each Elster American depositary share, at a 43 [...]
AB InBev in $20bn deal for Modelo June 29, 2012 Anheuser-Busch InBev, the world’s biggest brewer, said it would swallow the half of Grupo Modelo it does not already own for $20.1bn in the latest of a string of deals by big brewers looking for growth in emerging markets. The owner of Budweiser and Stella Artois beers said on Friday it had reached agreement with [...]
