St Paul’s suspends legal action against protesters November 1, 2011 St Paul’s Cathedral is suspending its legal action against a protest camp outside the church. A cathedral spokesman said it intended to “engage directly and constructively” with the protesters “without the threat of forcible eviction”. The City of London Corporation has said it plans to issue eviction letters to the protesters. Occupy London Stock Exchange [...]
Greek referendum bombshell hits markets November 1, 2011 Markets were plunged into renewed gloom today as Greece sent shockwaves through the Eurozone by announcing that it would hold a referendum on the bloc’s action plan to tackle the debt crisis. The renewed uncertainty hit banks while commodities were also dented by disappointing manufacturing data out of China. Meanwhile the Office for National Statistics [...]
GDP rises to 0.5 per cent November 1, 2011 Gross domestic product grew by 0.5 per cent on the quarter as business services and finance posted the strongest quarterly increase in four years, according to the Office for National Statistics. However, the Purchasing Managers’ Index (PMI) survey released earlier showed that manufacturers saw the sharpest monthly rate of decline since June 2009 in October. [...]
Stagecoach in lift from rail ticket sales November 1, 2011 Stagecoach Group PLC said ticket sales across its bus and rail operations rose in the first half of its financial year and that it expects to meet its profit expectations for the full-year. Like-for-like revenue at Stagecoach’s UK rail business, which includes London commuter franchise South West Trains, grew 8.7 per cent in the 24 [...]
National Express sales boosted by British rail and US buses November 1, 2011 National Express said third-quarter revenues rose, boosted by strong performances from its British rail and US school bus businesses. National Express, an operator of coach, bus and rail services, said revenues at its UK rail division grew six per cent in the three months to the end of September, with British bus sales rising two [...]
Chinese manufacturing held back by weak US and Europe November 1, 2011 China’s big manufacturers ran at their slowest pace in October since early 2009, purchasing managers’ data shows, though signs of a bounce-back at smaller firms and a sharp fall in factory-gate prices suggest no swift change to interest rates. China’s official purchasing managers’ index (PMI) fell to 50.4 in October from 51.2 in September, countering [...]
L&G sales flat as it targets £1bn cash for year November 1, 2011 Life insurer Legal & General said it was set to generate close to £1bn in cash this year as it reported flat nine-month sales. L&G, Britain’s third-biggest insurer by market value, generated £736m of cash in the nine months to 30 September putting it on course to hit a full-year target of £900m. L&G has [...]
G4S abandons deal to buy ISS after shareholder revolt November 1, 2011 Security group G4S has scrapped its £5.2bn takeover of Danish cleaning company ISS after opposition from shareholders. G4S said that after consultation with shareholders it concluded that it was “inappropriate to proceed”. Some shareholders expressed concerns about the takeover strategy and size of a rights issue to fund the deal. The proposed takeover of ISS [...]
Gunners chief Kroenke tells United fans to lay off Glazers October 31, 2011 ARSENAL’S majority shareholder Stan Kroenke has urged fans of Manchester United to admit they have been wrong to demonise the Glazer family and thank them for the success they have delivered since their controversial takeover. Despite the Old Trafford club continuing to pick up trophy after trophy since Malcolm Glazer took over the club back [...]
