Philips profits boosted by TV sales January 24, 2010 GLOBAL electronics firm Philips has reported a net profit of €251m (£220m) for the last three months of 2009. The profit reverses a loss of €1.2bn in the same period a year ago as the recession took its toll on the Dutch firm. The company said its profits were higher at all divisions, despite sales [...]
Retail sales figures “disappointing” January 22, 2010 RETAIL sales volumes rose by much less than expected in December as a large rise in prices deterred shoppers from splashing out over Christmas, official figures have shown. The Office for National Statistics said the figure rose just 0.3 percent last month, less than the 1.1 percent analysts had expected and the weakest for the [...]
Car sales plunge despite scrappage scheme January 21, 2010 CAR production plunged last year despite a late surge fuelled by the Government’s scrappage scheme. Many companies cut back on manufacturing early in the year as recession-hit Brits cut back. Honda was one of the companies badly hit – reducing production at its plant in Swindon, Wiltshire, for four months from February. The introduction of [...]
Tube strike over Jubilee line pay row January 21, 2010 LONDON Underground maintenance workers on the Jubilee Line are to stage a series of 24-hour walkouts in a row over pay. Members of the Rail Maritime and Transport union (RMT) employed by Alstom on the Jubilee line will walk out from 7.29pm next Wednesday. They will also strike each Sunday evening at the same time [...]
Rusal raises $2.2bn with Hong Kong listing January 21, 2010 RUSSIAN aluminium giant Rusal has sold $2.2bn (£1.36bn) of shares in a public listing in Hong Kong. Rusal sold 1.61bn shares at 10.80 Hong Kong dollars (86 pence) each. Shares in the company will start trading on 27 January. Rusal, which is the first Russian company to list in Hong Kong, is controlled by the [...]
Fraud costs UK economy £30bn a year January 21, 2010 FRAUD costs the UK £30bn every year – more than double previous estimates. The total equates to £621 per adult in the UK, according to the annual report buy the National Fraud Authority. A massive 58 per cent of fraud was in the public sector at a cost of £17bn. False insurance claims cost the [...]
John Lewis sales up after thaw January 21, 2010 JOHN Lewis’s sales shot up last week as the big thaw saw customers flooding back. The department store chain reported an 11.1 per cent rise in turnover – with more than half its outlets up on last year’s equivalent sales. Fashion sales were up 19 per cent with cold weather clothing. Oxford Street grew sales [...]
Pawnbroker’s profits soar in new “gold rush” January 21, 2010 THE UK’s largest pawnbroking chain H&T has said demand among recession-hit consumers to trade their unwanted gold for cash had more than tripled scrap profits last year. H&T now expects full-year profits at the top end of forecasts as the price of gold surges. The company offers a postal service, but mainly trades its cash [...]
Sony Ericsson reports loss January 21, 2010 SONY Ericsson has reported a €167m (£146m) fourth quarter loss. This compares with a loss of €187m in the same period last year. The market has been hit by the global economic downturn – with cash-strapped customers putting off some consumer purchases. The company said it expected unit volumes in global handset sales to have [...]
Goldman Sachs profits jump January 21, 2010 US bank Goldman Sachs has seen its net profits jump in the fourth quarter. The company made $4.95bn (£3.06bn) between September and December, compared with a loss of $2.12bn in the same period in 2008. Goldman said it will have a $16.19bn compensation and benefits pot for the whole year – up 48 per cent [...]
