Bank of Ireland reports plunge in profits February 20, 2012 Bank of Ireland said it was attracting deposits, cutting costs and expected home loan arrears to peak this year, raising hopes Ireland’s biggest lender had turned a corner after a 60 percent drop in underlying profit in 2011. The only Irish bank to avoid nationalisation after an unprecedented property crash, Bank of Ireland said on [...]
JJB sales fall but margins improve February 20, 2012 JJB Sports, which is in the middle of a turnaround plan, saw its like-for-like sales fall. The company’s sales for the five weeks to 29 January have fallen 5.7 per cent . However, its gross margin increased by 32.1 per cenT. Meanwhile like for like sales in the second half of the financial year for [...]
Keir wins £100m nuclear contract February 20, 2012 British construction group Kier has won a £100m contract from France’s EDF to prepare the ground for construction of a new nuclear power station in the west of England. Kier said in a statement on Monday that the contract to carry out site works for the Hinkley Point C nuclear power station, which is due [...]
S&P warns Japan over debt February 20, 2012 Standard & Poor’s warned it could lower Japan’s sovereign rating if the economy expands less than expected or if public debt continues to grow, as the country’s unpopular government struggles to win support for higher taxes. The ratings agency affirmed its AA- rating on Japan with a negative outlook, but also warned that higher taxes [...]
US inflation rises February 17, 2012 US petrol prices jumped 0.9 per cent in January, pushing overall consumer prices up at their fastest pace in four months and offering a reminder of the risks energy costs could pose to the economic recovery. The Consumer Price Index rose 0.2 per cent, according to figures from the Labor Department is unlikely to ring [...]
FTSE buoyed by Greek endgame February 17, 2012 The FTSE 100 opened on the front foot as the end game at last appeared to be approaching in the Greek bailout debacle. Optimism is growing that Greece has finally done enough to secure a second bailout, which could be approved as early as Monday. Averting a disorderly Greek insolvency is seen as a crucial [...]
UK retail sales in surprise 0.9pc jump February 17, 2012 UK retail sales rose 0.9 per cent in January compared with the precious month, official figures showed. The surprise lift followed a 0.6 per cent rise in December, according to the figures from the Office for National Statistics. Sales rose at thir fastest pace since April 2011, as consumers splashed out on furniture and sports [...]
John Lewis sales up despite snow February 17, 2012 Britain’s biggest department store chain John Lewis said sales rose last week as heavy snow prompted its shoppers to switch to the firm’s internet offer. The employee-owned retailer said on Friday its sales rose 4.1 percent to 52.3 million pounds in the week to February 11. “The start of the week saw the cold wind [...]
Anglo American profits rise February 17, 2012 Global miner Anglo American posted a 14 per cent rise in full-year operating profit, broadly in line with market expectations, as bumper iron ore profits and record income from coal helped offset a drop in copper revenues. The miner said 2011 operating profit totalled $11.1bn, just shy of a market forecast of $11.2 billion, according [...]
Virgin complains to regulator over IAG deal February 17, 2012 Virgin Atlantic has made a formal complaint to the European Commission about IAG’s purchase of Lufthansa’s British unit bmi, saying competition on some European routes would diminish and that fares would increase. Late last year, British Airways (BA) owner IAG agreed to buy bmi for £172.5m, seeing off rival bidder Virgin in the race to [...]
