‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
ABB to acquire Thomas and Betts for $3.9bn January 30, 2012 US manufacturer Thomas and Betts said it has agreed to be acquired by Switzerland’s in a $3.9bn (£2.4bn) cash transaction. ABB will pay $72 per share in cash for Thomas and Betts, a 24 per cent premium over the stock’s Friday’s close price. Through the deal, ABB will gain access to Thomas & Betts network [...]
Ryanair lifts profit forecast January 30, 2012 Ryanair has raised its profit forecast, saying higher ticket prices were more than making up for expensive fuel and reduced capacity, underlining the resilience of its low-cost sector as legacy carriers struggle. The Irish low cost carrier, Europe’s largest, increased its full year profit forecast by nine per cent to £480m euros (£403m) after posting [...]
Fujifilm offers scandal hit Olympus partnership deal January 30, 2012 A Fujifilm Holdings executive said that the company has proposed an alliance with scandal-tainted Olympus Corp, adding that there were areas in which the two rivals could cooperate without infringing on anti-trust regulations. Fujifilm, which sees synergies between Olympus’s endoscopes and Fujifilm’s IT systems, ultra-sound and X-ray technologies, has made a proposal through Olympus’s financial [...]
Procter and Gamble profits dive January 27, 2012 Procter & Gamble’s quarterly profit plunged 49 per cent, as the world’s largest household products maker wrote down the value of its appliance and salon professional products businesses. Meanwhile it said this year’s profit would come in lower than previously expected due to the strong dollar. Excluding charges, core earnings per share fell three per [...]
US GDP up 2.8 per cent January 27, 2012 The US economy grew by 2.8 per cent during the final quarter of 2011, according to figures released by the US Department of Commerce. This is up from 1.8 per cent during the third quarter. Data showed the world’s largest economy grew at its fastest pace in nearly two years at the end of last [...]
Osborne to hand treasury new powers over BoE January 27, 2012 The finance ministry will have new powers to order the Bank of England to pump money into the financial system in any future banking crisis. “When taxpayers’ money is at risk in a crisis this legislation gives the Chancellor the power to direct the Bank of England to act,” Osborne said in a speech to [...]
Ford revenues up but profits slip January 27, 2012 Car manufacturer Ford has reported that fourth quarter operating profit fell to $1.1bn (£700m), down $189m (£120m) on the same period last year, as the firm failed to meet analysts’ targets. This is despite quarterly net income of $13.6bn (£8.65bn), a $13.4bn (£8.46bn) increase from fourth quarter 2010. Revenues shot up thanks to a one-off [...]
FTSE slips as investors eye US growth data January 27, 2012 THE FTSE 100 slipped in early trading as investors looked to Greece for signs of progress on a deal to save it from default and to the US where key GDP figures are due for release. Greece and its private creditors made progress in talks on restructuring its debt yesterday with some indication given that [...]
Concordia passengers offered compensation January 27, 2012 Several of Italy’s consumer groups have signed an agreement with Costa Cruises to offer about 11,000 euros (£9,200) to each of the more than 3,000 passengers aboard the Costa Concordia when it hit a rock and capsized near the Italian island of Giglio on January 13, a statement from the consumer groups said. The company [...]
De La Rue trading in line as cost cutting continues January 27, 2012 Banknote printer De La Rue has said trading is in line with its expectations as cuts costs to get the business back on track. The company said its currency division has made “good progress” since its interim results in September. De La Rue designs produces more than 150 currencies. The firm has a plan to [...]
