FTSE edges up but Eurozone gloom continues May 24, 2012 The FTSE 100 staged a tentative recovery in early trading although an inconclusive meeting of Eurozone leaders offered little prospect of a plan to save Greece. Overnight the EU said it wanted Greece to stay in the fold but contingency plans are already underway for an exit from the euro for the debt laden country. [...]
Economy in new GDP blow May 24, 2012 The UK economy shrank by 0.3 per cent in the first three months of the year, the Office for National Statistics said. A contraction of 0.2 per cent was estimated last month.
EU says it wants Greece to stay in euro May 24, 2012 European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout programme. After nearly six hours of talks held during an informal dinner, leaders said they were committed to [...]
Asos profit surge fuelled by overseas sales May 24, 2012 Online fashion retailer ASOS met forecasts with a 43-per cent rise in year profit as stellar growth overseas offset a weaker home market. The firm, which targets 16 to 34-year-old women looking to emulate the designer looks of celebrities such as Alexa Chung, Tulisa Contostavlos and Kate Moss, said on Thursday it made a pretax [...]
Shell considers next move in Cove bidding war May 24, 2012 Royal Dutch Shell said it was considering its options regarding Cove Energy, the explorer it is trying to buy, as it extended the deadline for shareholder acceptances in the face of a higher bid from a Thai firm. The takeover battle for Cove, which has a stake in huge gas finds off the coast of [...]
BAE seals £1.6bn Saudi jet contract May 23, 2012 BAE Systems has signed a £1.6bn deal to supply Saudi Arabia with Hawk jets to train pilots to fly the Eurofighter Typhoon which it has already ordered from UK company. The deal provides some welcome relief for the British defence giant, which is battling against shrinking European and American defence budgets and fierce competition. The [...]
Nationwide takes £103m loans mis-selling hit May 23, 2012 Nationwide has set aside £103m to compensate victims of loan insurance mis-selling after claims quadrupled in the second half of its fiscal year. Britain’s second-biggest savings provider blamed aggressive claims management companies (CMCs) for pushing complaints which often turned out to be false and Chief Executive Graham Beale called on UK lawmakers to take a [...]
CBI factory orders balance hits six-month low May 23, 2012 Factory orders deteriorated more than expected this month, as exports fell, the CBI’s monthly industrial trends survey showed. The Confederation of British Industry survey’s total order book balance fell to -17 this month from -8 in April, below expectations for a reading of -10, and its lowest reading since December. The export order book balance [...]
Ocado sales growth accelerates May 23, 2012 Online British supermarket Ocado posted an acceleration in sales growth in its second quarter, raising hopes it has got to grips with bottlenecks at its distribution centre that led to a string of profit downgrades last year. Shares in Ocado, whose range includes products supplied by upmarket grocer Waitrose jumped 6.8 per cent on Wednesday [...]
FTSE down amid Eurozone gloom May 23, 2012 Miners led the FTSE down in early trading as a two-session rally hit the buffers. Fears that Eurozone leaders have lost control of the bloc’s fast unravelling finances sapped investor confidence. A summit in Brussels today will thrash out possible ways to tackle the latest phase of the crisis including France’s idea for the issuing [...]
