House prices in record monthly fall October 7, 2010 House prices dropped 3.6 per cent in September from the previous month, according to the latest figures from the Halifax. It represented the biggest monthly drop since figures were first compiled in 1983. The group said an increase in the number of properties on the market, combined with a drop in demand fuelled by uncertainty [...]
Samsung hit by weak TV sales October 7, 2010 Samsung Electronics Co’s disappointing earnings guidance sparked slowdown worries as prices of its key products slide, hitting shares and ending the technology group’s run of record quarterly performances. The world’s largest memory chipmaker, which has a tradition of beating even the most bullish estimates, faces a tough outlook as a fragile world economy has hit [...]
Recruiter Michael Page sees profit soar by a third October 7, 2010 White collar recruiter Michael Page said third quarter profit rose more than a third, boosted mainly by the Americas and Asia, and that temporary job placements had grown for the first time this year. Michael Page, which places people in jobs in finance, accounting and consultancy, said group gross profit for the third quarter was [...]
M&S sales up – but warns over tough times ahead October 7, 2010 Marks & Spencer has seen total group sales rise in the UK by 6.5 per cent in the second quarter but warned that trading in the coming months will get tougher. Clothing rose by 7.8 per cent while homeware surged by 9.36 per cent in the 13 weeks to 2 October. Marks & Spencer food [...]
IMF warns that global economy growing less than forecast October 6, 2010 The global economy will grow more slowly than previously expected next year, the International Monetary Fund (IMF) has said. It forecast GDP would increase rise by 4.2 per cent in 2011, down from an earlier estimate of 4.3 per cent. The IMF warned that the global recovery was tentative. Earlier in the week it said [...]
Rio Tinto deal with BHP Billiton “all but dead” October 6, 2010 Global miner Rio Tinto looked set to abandon its $116bn (£72bn) iron-ore joint venture with rival BHP Billiton a deal unpopular with customers, regulators and many of Rio Tinto’s own investors. Rio Tinto Chairman Jan du Plessis told a boarsd meeting addressing that the joint venture was all but dead and buried, acording to the [...]
New car sales drop after scrappage scheme October 6, 2010 New car sales dropped 8.9 per cent in September compared with the same month last year, according to the Society of Motor Manufacturers and Traders. The figures have been hit by the end of the scrappage scheme which helped to boost car sales. However, September’s drop was less than the 17 per cent seen in [...]
Sportingbet profit dives after US settlement October 6, 2010 Online gambling firm Sportingbet posted a 69 per cent fall in full-year pretax profit on one-off costs related to a settlement with the U.S. Department of Justice and its move to the Official List, but said it started the new year well. The company had agreed to forfeit $33m (£21 million pounds) to settle a [...]
Wellstream rejects £755m bid from GE October 6, 2010 US conglomerate General Electric said a £755m takeover approach it made to oil services company Wellstream had been rebuffed by the firm. General Electric, confirming itself as the mystery bidder, said it made a proposal at 750 pence per share in cash, substantially less than the current value of Wellstream’s shares which closed at 780 [...]
Sainsbury’s beats forecasts with sales hike October 6, 2010 J Sainsbury has posted second-quarter sales towards the top end of forecasts, as new stores, online shopping and demand for non-food lines helped it to grow share in a tough market. The group said it expected conditions to remain difficult for shoppers as the government hikes taxes and cuts spending to rein in its debts. [...]
