Economic growth slows to 0.2pc April 23, 2010 THE economy grew by 0.2 per cent in the first three months of the year, official figures have shown. GDP expanded by 0.4 per cent in the final three months of 2009 when the UK lurched out of recession. The latest figures, from the Office for National Statistics, came in a week which saw unemployment [...]
Prudential names date for Asian listings April 23, 2010 PRUDENTIAL has said it plans to list in Hong Kong on 11 May and also confirmed a secondary listing in Singapore as it prepares to fund its $35.5bn (£23.6bn) takeover of Asian rival AIA. The move to list in Asia is expected to draw local investors to a $21bn rights issue, launched to fund its [...]
Ericsson profits down 30pc as market shrinks April 23, 2010 SWEDISH mobile giant Ericsson has reported a drop of almost a third in first-quarter profit with sales also dipping. The telecom equipment market contracted sharply in 2009 as the global downturn crimped operator spending. Its sales fell nine per cent year-on-year while operating profit, excluding joint ventures and restructuring costs, was 4.5bn Swedish crowns (£403m). [...]
Ryanair backs down over passengers’ expenses April 22, 2010 RYANAIR has backed down over a decision to limit the expenses paid to stranded passengers. The Irish airline had said that expenses refunds would be limited to the sum travellers had paid for their tickets. That would have meant the company failing to pay for food and accommodation, as required under European regulations. The carrier [...]
UK borrowing hits new record April 22, 2010 GOVERNMENT borrowing hit a record £163.4bn this year, official figures have shown. The figure for the 2009-10 financial year is under the £166.5bn predicted by Chancellor Alistair Darling in April’s Budget. However, It is the biggest annual borrowing figure for a UK government in peacetime, the Office for National Statistics (ONS) showed. A further £23.5bn [...]
WH Smith raises dividend after profits boost April 22, 2010 WH Smith has raised its dividend after a jump in first-half profits. The newspaper, books and stationery retailer reported a pre-tax profit of £62m for the six months to 28 February. It hiked its dividend by 13 per cent to 6.1p. The company which has shops on in stations airports and hospitals as well as [...]
Deutsche Bahn seals £1.59bn deal for Arriva April 22, 2010 UK train and bus operator Arriva has agreed to be taken over by Germany’ rail operator Deutsche Bahn in a £1.59bn deal. Deutsche Bahn runs Germany’s national rail services and the move will create one of the biggest transport groups in Europe. Arriva runs rail and bus services in 12 European countries. Deutsche Bahn’s chief [...]
Credit Suisse sees earnings jump April 22, 2010 CREDIT Suisse has posted a first quarter net profit of CHF 2.1bn (£1.3bn). The Swiss bank has seen a turnaround since the global financial crisis, boosted by its high number of wealthy clients. Chief executive Brady Dougan said in a statement: “Market conditions in the second quarter to date have remained similar to those in [...]
Airlines lose £1.1bn in ash cloud crisis April 21, 2010 THE International Air Transport Association (IATA) estimates that the crisis caused by the volcanic ash cloud above Europe cost airlines more than $1.7 billion (£1.1bn). IATA Director General and Chief Executive Giovanni Bisignani said: “At the worst, the crisis impacted 29 per cent of global aviation and affected 1.2 million passengers a day.” He claimed [...]
Unemployment rises to 16-year high of 2.5m April 21, 2010 UNEMPLOYMENT has increased by 43,000 between to a 16-year high of to 2.5 million, according official figures. That represents an eight per cent jobless total. The the number of people classed as economically inactive also reached record levels, the figures – which cover the period from December to February – show. Meanwhile, the number of [...]
