Land Securities says Eurozone crisis denting London office sales May 16, 2012 Land Securities, the biggest listed British property developer, said demand for office space in London was lower than expected due to the worsening turmoil in the Eurozone. The joint developer of the Walkie Talkie skyscraper in the City of London financial district said on Wednesday firms were delaying moves due to economic uncertainty. “We remain [...]
Rebekah Brooks charged with perverting course of justice over phone hacking scandal May 15, 2012 Rebekah Brooks has been charged with interfering with a police investigation into a phone-hacking scandal that has rocked the tycoon Rupert Murdoch’s media empire and sent shockwaves through the British political establishment. Brooks was charged with concealing material from detectives, conspiring to remove boxes of archive records from Murdoch’s London headquarters, and hiding documents, computers [...]
UK goods trade deficit stable May 15, 2012 Britain’s goods trade deficit stayed largely unchanged in March despite a rebound in exports to countries outside the European Union as overall import values also grew to a record level, official data showed. The Office for National Statistics said the goods trade deficit inched down to £8.56bn in March from £8.59bnin February. Economists had forecast [...]
Eurozone narrowly avoids recession May 15, 2012 The Eurozone just avoided recession in early 2012 but the region’s debt crisis sapped the life out of the French and Italian economies and widened a split with paymaster Germany. Euro zone gross domestic product stagnated in the first quarter, the EU’s statistics office Eurostat said. That was a touch better than forecast by economists, [...]
Enterprise Inns pins hopes on Olympics May 15, 2012 Enterprise Inns reported slightly weaker than expected profits but said celebrations centering on the Olympics and the Queen’s Diamond Jubilee this year would help offset tough trading conditions and keep the pub group on track for the full year. The company, which has over 6,000 pubs across Britain, also said it had cut bank borrowings [...]
Coty withdraws bid for Avon May 15, 2012 Fragrance company Coty has withdrawn its $10.7bn (£6.6bn) takeover bid for Avon Products saying the world’s largest cosmetics direct seller had missed a deadline to start discussing a deal that Coty first proposed in March. The move leaves Avon shareholders relying on new chief executive Sheri McCoy to come up with a plan to turn [...]
JP Morgan investment chief quits after losses May 14, 2012 JPMorgan Chase & Co sacrificed investment chief Ina Drew on in response to trading losses that could reach $3bn (£1bn) or more and which have tainted the reputation of the bank’s high profile chief executive Jamie Dimon. The biggest bank in the United States by assets said Drew, its New York-based chief investment officer and [...]
FTSE dented by flailing Eurozone May 14, 2012 The FTSE 100 dipped in early trading as a breakdown of coalition talks in Greece sapped investor confidence along with more general fears over global growth. Talks to form a new government in Greece looked to have failed as left wing groups refused to join pro-bailout parties. EU ministers are meeting in Brussels later today [...]
Eurozone output falling as it lurches towards recession May 14, 2012 Output at factories in the Eurozone unexpectedly fell in March, the latest in a series of disappointing numbers signalling that the bloc’s recession may not be as mild as policymakers hope. Industrial production in the 17 countries sharing the euro fell 0.3 per cent in March from February, the EU’s statistics office Eurostat said. Economists [...]
Greek election looms as left parties shun coalition May 14, 2012 Greece’s radical leftist leader spurned an invitation from the president for a final round of coalition talks on Monday, all but ensuring a new election that he is poised to win. Greece’s political landscape has been in disarray for a week since an inconclusive election left parliament divided between supporters and opponents of the 130bn [...]
