Eurozone growth revised down to zero April 7, 2010 THE eurozone’s economy failed to grow in the last three months of 2009, according to revised figures. European Union official statistics show that the quarter-on-quarter growth in the three months to December was zero – revised down from a previously reported 0.1 per cent. Year-on-year, the economy of the 16 countries using the euro contracted [...]
Marston’s sales up after food boost April 7, 2010 PUB group Marston’s saw first half revenues rise after being fuelled by strong food sales. The company, which has over 2,200 pubs across Britain, said sales at its managed pubs open for more than a year were up 1.4 per cent in the 26 weeks to 3 April. During the half year, food sales were [...]
Heritage given green light in Tullow deal April 7, 2010 BRITISH oil explorer Heritage Oil today tempered the prospect of five-month delays at its latest well in its Iraqi operations with news it has the backing of the Ugandan government in the sale of two oil fields to Tullow Oil. The Miran West-2 appraisal well in Kurdistan will need to be deepened to 4,600 metres [...]
Cider tax hike shelved April 7, 2010 PLANS for a ten per cent tax hike on cider have been shelved. The rise, announced in the Budget, was fiercely opposed by the Conservatives and Liberal Democrats. With Parliament dissolved the Government has insufficient time to squeeze the law through. However, the Government said the rise would be re-instated if it wins back power. [...]
AOL to sell or close Bebo April 7, 2010 AOL has confirmed it is looking to offload its social networking site Bebo, for which it paid $850 million (£557m) in 2008. Competition from social networking including Facebook and MySpace has left behind Bebo which has been a hit in the UK but slumped elsewhere. The company will close the site, which is targeted at [...]
Russian egg giant plans London IPO April 6, 2010 UKRAINE’S biggest egg producer Avangard is planning a stock-market float in London. The IPO would be the first from the Commonwealth of Independent States (CIS) in the capital this year. The company has not revealed how much it hopes to raise. If the IPO goes ahead, it will be the first London listing by a [...]
Shell to sell operations in Finland April 6, 2010 ROYAL Dutch Shell has confirmed it is planning to sell its operations in Finland, as it looks to focus its operations on bigger markets. The company said in a statement: “We believe that the possible selling of our Finnish operations is an attractive opportunity to investors.” Shell is also selling its Swedish assets, as part [...]
Australia raises interest rates April 6, 2010 AUSTRALIA’S central bank has raised interest rates to 4.25 per cent from four per cent as it attempts to slow inflation and rises in house prices. The move is the fifth rate rise since October, and the bank has indicated there are further increases to come. Glenn Stevens, the Governor of the central bank, said: [...]
50p tax rate on high earners is triggered April 6, 2010 A NEW 50p tax rate for top earners has been triggered as the new financial year begins. The new income tax rate on taxable incomes above a £150,000 has been attacked by business leaders who claim it will dent business confidence and stifle entrepreneurial spirit, The Institute of Directors also warned that foreign investors could [...]
Northgate chief Smith steps down April 6, 2010 NORTHGATE chief executive Steve Smith will step down after 23 years at the van hire company. Smith had agreed to stay on as chief beyond his original retirement date of 1 August last year because of the trading conditions last summer and the group’s debt refinancing, a placing and rights issue. Paul Tallentire, deputy chief [...]
