Britain edges closer to recession as GDP falls January 25, 2012 Britain’s economy edged closer to recession in the last three months of 2011, after output contracted for the first time in a year, official data showed. The figures are likely to reinforce expectations the Bank of England will inject more stimulus into the economy next month after BoE Governor Mervyn King warned of an arduous [...]
Citi mulls further cuts to securities and banking unit January 25, 2012 Citigroup may consider further restructuring of its securities and banking unit if the business does not see meaningful revenue recovery over the course of 2012, Chief Financial Officer John Gerspach said on a conference call. “While we are strategically committed to securities and banking, we are not oblivious to the fact that our cost structure [...]
WH Smith sales fall slows January 25, 2012 British newspapers, books and stationery retailer WH Smith said its strategy of improving profit margins and cutting costs rather than driving top-line sales was working in a tough market unlikely to get better any time soon. The 220-year-old group, which trades from over 600 town centre stores and over 560 outlets at airports, train stations, [...]
Charles Stanley revenue dips January 25, 2012 Broker Charles Stanley’s third quarter revenue has dipped to £27.3m from £32.3m for the three months to 31 December. Meanwhile commission was down from £16.6m to £10.6m. The company said the volatility in markets and tough economic climate overall had taken its toll. ‘A continuation of the difficult institutional securities market is also reflected in [...]
Asda takes George brand to middle East January 25, 2012 Asda has signed a franchise deal with a Lebanon-based firm to take its George budget clothing brand to the Middle East. Britain’s second biggest supermarket group behind Tesco said the Azadea Group would open George franchise stores in the Middle East. Last year Asda announced plans to establish a small number of pilot George stores [...]
Roche to bid $5.7bn for DNA firm Illumina January 25, 2012 Swiss drugmaker Roche has said it plans to make an offer of $5.7bn (£3.7bn) for DNA research company Illumina. Roche said the deal would help it meet the growing demand for genetic solutions and speed up the use of DNA research in routine medical diagnosis. The firm said it expected Illumina shareholders to “welcome the [...]
Redknapp told cops: I pay my tax and don’t fiddle anything January 24, 2012 Tottenham manager threatened to sue reporter for bungs claim Court told Redknapp feigned ignorance over offshore account TOTTENHAM manager Harry Redknapp threatened to “sue the bollocks off” a reporter who suggested payments he received into an offshore account that remained undeclared to the taxman for six years were “bungs”, a court heard yesterday. Redknapp, who [...]
Time for KP to show he’s a team player January 24, 2012 TALK of guarding against complacency dominated the build-up to last week’s first Test but the manner of England’s defeat suggested they fell into the very trap they were desperate to avoid. The senior batsmen have all scored prolifically enough over the last two years for us to label last week’s debacle in Dubai a freak [...]
Strauss set to face his biggest test January 24, 2012 ENGLAND captain Andrew Strauss admits protecting his side’s No1 Test ranking and turning the current series against Pakistan on its head represents one of the toughest challenges of his tenure. A miserable 10-wicket defeat in Dubai means England have no margin for error in the two remaining Tests. Strauss, who inherited the Test captaincy from [...]
Brave Palace miss out on Wembley after suffering penalty heartache January 24, 2012 CARDIFF 1 vs CRYSTAL PALACE 0 CRYSTAL PALACE manager Dougie Freedman was full of admiration for his players last night despite a brave rearguard action yielding only regret and a penalty shootout defeat, rather than the Carling Cup final appearance at Wembley the Scot insisted his side merited. The slender advantage Palace held from the [...]
