Irish Life shares up as losses shrink August 31, 2010 Irish Life & Permanent shrank first-half losses, defying expectations for a bigger shortfall, and said it expected Irish mortgage arrears to peak this year, sending its shares up 12 per cent at one point. Irish Life’s stock was the only bright spot on the country’s financial index on as investors were prepared for yet more [...]
Carrefour profit up 7.6 per cent August 31, 2010 Carrefour, Europe’s top retailer, said the summer sales trend was mixed in Europe but demand was holding up in emerging markets and confirmed it expected operating profit to rise this year. Tight cost control and buoyant emerging markets lifted first-half profit by 7.6 per cent, in line with guidance given in July, the company said. [...]
Markets fall as fears over economic recovery mount August 31, 2010 The FTSE 100 dropped today (Tuesday) led by falls in risk sensitive assets such as banks and commodity stocks as fears intensified over the sustainability of the global recovery. The index shed 61.37 points, or 1.2 per cent at 5,140.19, erasing the 0.9 per cent gain on Friday, as traders returned after the Bank Holiday [...]
888 scraps dividend after World Cup hits poker August 31, 2010 Online gaming firm 888 scrapped its dividend, preserving cash to pay for acquisitions after the weak economy and World Cup sapped appetite for poker games and hit first half profit. “In order to continue investing for future growth, and to support potential acquisitions, the board has decided not to declare an interim dividend,” Chief Executive [...]
Hermes in 52 per cent profit jump August 31, 2010 French luxury goods group Hermes has posted a 52 per cent rise in first-half operating profit, boosted by leather goods, and slightly raised its financial targets for the full year. Profit rose to 304.5m euros (£250.6m) in the first six months of the year from 199.8m euros a year ago, Hermes said. Net profit rose [...]
Indian economy grows by 8.8 per cent August 31, 2010 India’s economy grew at its fastest rate for more than two years in the last quarter, official figures have shown. GDP rose by 8.8 per cent in the three months to June compared with the same period last year. India – the world’s eleventh largest economy – is the second fastest-growing after China. Strong industrial [...]
France cuts growth forecast at emergency summit August 20, 2010 FRANCE has cut its forecast for economic growth next year after an emergency meeting between the president and senior finance ministers. It now thinks the economy will grow by two per cent next year. The previous forecast was 2.5 per cent. This year it will 1.4 per cent, the government said. President Nicolas Sarkozy ordered [...]
M&S lines up new chairman to replace Rose August 20, 2010 Marks & Spencer is to name Robert Swannell as Sir Stuart Rose’s successor as chairman, according to Sky News. It said Swannell, currently a senior advisor of Citi Europe and chairman of HMV Group, the music and books retailer, would take up the role when Rose steps down next year. A spokeswoman for M&S declined [...]
Investors jittery after bleak US data August 20, 2010 Investors have been avoiding riskier assets amid growing concerns about slackening growth in the US economy. Globally, equities were lower, with Europe giving up early gains. Bleak data from the US, with jobless claims at a nine-month high and the first contraction in a year in a volatile regional manufacturing index, has made the markets [...]
RSA bid for Aviva units “not dead” August 20, 2010 IGNIS Asset Management, an institutional shareholder in both Aviva and RSA, said a deal between the two insurers remained possible although RSA would have to raise its bid proposal for some Aviva units. Ignis owns roughly 0.5 per cent of Aviva’s share capital and around 1.5 per cent of RSA’s share capital. RSA said it [...]
