BAE on track for full year growth May 5, 2010 BAE Systems said it expected to deliver earnings growth in 2010 and that the loss of a contract to build new armoured vehicles for the UK army had not hit its outlook for the year. The defence contractor said it expected three of its four divisions to deliver growth in 2010 and that sales at [...]
Next sales rise fuelled by Directory May 5, 2010 NEXT has seen a 4.1 per cent rise in overall sales in the 13 weeks to 1 May. The retailer’s Directory was mainly responsible for the positive figure after it recorded a 7.2 per cent jump. Total sales in shops only rose by 2.8 per cent. The company said it was in line to top [...]
BP shares dive in oil spill fallout May 4, 2010 OIL giant BP has seen saw its shares lose further ground after it admitted the fall out of the major oil spill in the Gulf of Mexico was costing $6m (£3.95m) per day. Its shares tumbled over four per cent as it warned that the battle to get the disaster under control could take three [...]
Manufacturing in fastest growth for 15 years May 4, 2010 BRITISH manufacturing activity grew last month at its fastest rate in more than 15 years, a survey of purchasing managers has shown. The Chartered Institute of Purchasing and Supply/Markit manufacturing PMI rose to 58.0 in April from an upwardly revised 57.3 in March. That was well above the consensus forecast and the highest reading since [...]
UBS profits up as talks over new City office announced May 4, 2010 UBS has reported a big increase in profits after seeing its investment banking business recover from the financial crisis. The bank said it made a profit of 2.2bn Swiss francs (£1.3bn) in the first three months of the year. That compares with a loss of nearly 2bn Swiss francs this time last year, when UBS [...]
Standard Chartered in record quarterly profit May 4, 2010 STANDARD Chartered has reported record first quarter profits – fuelled by a strong wholesale banking and improving consumer banking In wholesale banking, which includes advisory, trade finance and other investment banking business, client income was up over 20 per cent on the first quarter of 2009. The bank, which does not publish full quarterly results, [...]
Short selling banned on Athens exchange April 28, 2010 GREEK financial regulators have banned short-selling in shares on the Athens stock exchange after investors offloaded Greek assets as the country plunged even deeper into financial crisis. The Capital Market Commission hasn suspended short-selling until 28 June after considering the “extraordinary conditions” in the Greek market. It is the second time during the global economic [...]
BAT sees volumes fall but sales hold up April 28, 2010 BRITISH American Tobacco, the world’s No 2 cigarette maker, reported a four per cent fall in underlying first-quarter volumes but said price rises led to good sales growth and it remains on track for 2010. The London-based group, which makes Kent, Dunhill, Lucky Strike and Pall Mall cigarettes, said that its consumers were finding economic [...]
Home Retail in share buy back as earnings fall April 28, 2010 ARGOS and Homebase owner Home Retail Group has announced plans for a share buy back of up to £150m as new figures showed its annual profit had dropped by 11 per cent. Underlying profits fell to £292.9m for the year to 27 February. Earnings were hit by weak consumer spending and a lower pound, which [...]
Shell profits soar after oil price hike April 28, 2010 ROYAL Dutch Shell’s quarterly profits jump by nearly 50 per cent to $4.9bn (£3.2bn). The oil giant said an increase in energy prices had fuelled the hike. The figure was 49 per cent up on the same period last year. Shell is in the process of a massive shake-up which includes 2,000 job cuts. Up [...]
