Eurozone manufacturing growth slows September 23, 2010 THE pace of growth in the eurozone’s services and manufacturing sectors slowed much more than expected this month, but surveys showed businesses were more optimistic about the future. Markit’s Eurozone Flash Services Purchasing Managers’ Index, made up of surveys of around 2,000 businesses ranging from banks to restaurants, slumped to 53.6 in September from 55.9 [...]
Canary Wharf owner Songbird in asset boost September 23, 2010 Songbird Estates, majority owner of London’s Canary Wharf, booked a six per cent rise in net asset value as demand for offices across the estate held firm against the government’s feeble economic outlook. The company, which counts the Qatar Investment Authority and China Investment Corp. among its largest shareholders, said the market value of its [...]
Mitchells & Butlers sees food sales soar September 23, 2010 Britain’s biggest pubs and restaurants group Mitchells & Butlers reported a 4.4 per cent increase in sales at outlets open for more than a year driven by a surge in demand for food. The company, which is re-shaping itself into a food-led business, said sales of food increased 7.1 per cent in the nine weeks [...]
Luminar trading in line despite drop in clubbers September 23, 2010 Britain’s biggest nightclub operator Luminar has seen further falls in revellers at its venues but is trading in line with forecasts it said. Trading in the half year to 26 August saw like-for-like sales during the period fell by 20.2 per cent. Admission revenue fell by 26.5 per cent with the number of clubbers entering [...]
Cable brands bankers “spivs and gamblers” September 22, 2010 Business secretary Vince Cable insisted he has a pro-business agenda but attacked bank bonuses paid to “spivs and gamblers”. In his speech to the Lib Dem conference he called for action to stop capitalism “killing competition”. Cable also revealed Royal Mail staff would be given ten per cent of shares in any future flotation of [...]
Sentance in renewed call for interest rate hike September 22, 2010 Bank of England policymaker Andrew Sentance repeated his lone call for an interest rate hike in September but some of his colleagues thought the probability that more monetary easing would be needed had increased. Minutes of the Monetary Policy Committee’s last meeting showed an 8-1 vote for leaving interest rates on hold at a record [...]
FirstGroup founder Lockhead to step down September 22, 2010 British transport operator FirstGroup said chief executive Moir Lockhead would retire next March after 21 years at the helm, with his replacement Tim O’Toole set to take the reins later this year. Lockhead helped transform the group into one of Europe’s largest bus and rail operators from an employee and management buyout of Grampian Regional [...]
RSM Tenon hikes dividend as profit rises September 22, 2010 British business adviser RSM Tenon Group posted a 37 per cent increase in full-year adjusted pretax profit, boosted by acquisition of RSM Bentley Jennison and certain assets of troubled peer Vantis. The accountancy and advisory firm said it raised dividend by seven per cent to 1.6 pence per share. “Organic sales growth and margin improvements [...]
RSM Tenon hikes dividend as profit rises September 22, 2010 British business adviser RSM Tenon Group posted a 37 per cent increase in full-year adjusted pretax profit, boosted by acquisition of RSM Bentley Jennison and certain assets of troubled peer Vantis. The accountancy and advisory firm said it raised dividend by seven per cent to 1.6 pence per share. “Organic sales growth and margin improvements [...]
Imperial Tobacco trading hitting forecasts September 22, 2010 Imperial Tobacco, the world’s No.4 cigarette group, said its cigarette volume were in line with the 4.3 per cent fall seen at its 9-month stage as its financial performance stayed in line with its own expectations. The group, which acquired Franco-Spanish group Altadis in January 2008, said its global key cigarette brands continued to perform [...]
