UK industrial output falls in November January 12, 2012 British industrial output posted a surprise fall in November as oil and gas extraction and electricity production were scaled back sharply, official data showed, raising the prospect the overall economy contracted in the final quarter of 2011. The figures from the Office for National Statistics confirm recent weak business surveys and boost concerns that Britain [...]
Ashmore sees modest rise in assets January 12, 2012 UK fund manager Ashmore Group reported a small rise in assets in the fourth quarter, helped by inflows into debt products and a recovery in its core emerging markets. Ashmore said on Thursday assets grew 2.5 per cent to £39.4bn. A rocky period for emerging markets last year hit Ashmore’s asset base and the fees [...]
Ocado trading strong over festive period January 12, 2012 Online grocer Ocado reported a 16 per cent rise in sales in December, a slowdown from the 26.7 per cent posted a year ago, but said its focus on service and an absence of 2010’s snow helped it deliver nearly all orders on time. The company, which mostly sells the products of high-end supermarket chain [...]
Tesco hit by dismal Christmas January 12, 2012 Tesco, Britain’s biggest retailer, reported its worst Christmas sales performance for decades on Thursday and warned it would see minimal profit growth next year as it invests in winning back shoppers. The world’s third-largest stores group said on Thursday it now expected minimal trading profit growth for 2012/13 against analysts’ forecasts for a 10 percent [...]
Home Retail to slash dividend as Argo sales plunge January 12, 2012 Home Retail, Britain’s No. 1 household goods retailer, said it anticipated a significant cut in its full-year dividend as it posted a further slump in sales at its Argos business over the Christmas trading period. The firm said on Thursday the trading environment had been both “volatile and demanding” and forecast at year to end-February [...]
RBS to cut 3,500 investment banking jobs January 12, 2012 Part-nationalised Royal Bank of Scotland is to cut about 3,500 jobs as it sells and shrinks parts of its investment bank over a three-year plan to further reduce risk. RBS, 83 per cent owned by the government, said it will exit from cash equities, corporate broking, equity capital markets and mergers and acquisitions businesses. It [...]
Fitch: ECB must do more to avert euro collapse January 11, 2012 The European Central Bank should ramp up its buying of troubled euro zone debt to support Italy and prevent a “cataclysmic” collapse of the euro, David Riley, the head of sovereign ratings for Fitch, said. Speaking to investors as part of a European roadshow, Riley said the collapse of the euro would be disastrous for [...]
Michael Page to expand in emerging markets January 11, 2012 Michael Page is to go ahead with plans to enter more emerging markets where the British recruitment company sees long-term growth opportunities, it said when reporting growth slowed further in the fourth quarter. Michael Page said Wednesday that, while being mindful of a tough global economy that has rapidly stunted growth levels over the course [...]
FTSE rally ends as investors eye Eurozone bond auctions January 11, 2012 The rally on the FTSE 100 yesterday stalled in early trading today as concerns over upcoming Eurozone bond auctions and slightly weaker commodity stocks took their toll. Heavyweight miners failed to keep up the gains made yesterday which were fuelled by positive data from China showing the country’s demand for metals had risen. Wall Street [...]
BAA traffic up as Heathrow has record December January 11, 2012 Traffic at airports operated by BAA rose last month with Heathrow enjoying its busiest December ever in terms of both passenger numbers and cargo which grew for the first time since February 2011 on an underlying basis. BAA, which is Britain’s main airport operator and majority owned by Spanish infrastructure group Ferrovial, said on Wednesday [...]
