Eurozone business activity shrinks October 24, 2011 The euro zone’s private sector tipped further into decline in October, according to business surveys that showed the bloc’s economy is in serious danger of lurching from stagnation into outright recession. Shrinking order books and plummeting confidence sent euro zone factories into contraction for the third month in a row, and service sector companies for [...]
Fuller, Smith & Turner in £16m expansion October 24, 2011 Fuller, Smith & Turner is paying £16m for five pubs as it moves to boost its estate in time for the Olympics. Fuller is acquiring The Wellington at Waterloo, The Pavilion End and Bluu in the City, The Hand & Flower in Kensington Olympia and the Red Lion Hotel in Wendover, Bucks The seller is [...]
Mouchel sells energy arm to Mott MacDonald October 24, 2011 Mott MacDonald has has bought Mouchel Energy for an initial £2.55m. The deal come after after Mouchel Rail was sold to Australian consultant Sinclair Knight Merz for £3.4m. Mouchel will use money from the sale – which could reap a total of £3.5m in total – to repay some of its debt pile. The unit [...]
China manufacturing growth picks up October 24, 2011 China’s vast manufacturing sector expanded moderately in October to snap three months of contraction, reflecting the resilience of robust domestic demand that is likely to soothe fears of an abrupt slowdown in the world’s second-largest economy. HSBC’s flash purchasing managers’ index (PMI) also showed price pressures eased in China, underlining consumer price data that has [...]
Dragon Oil upbeat on growth targets October 24, 2011 Turkmenistan-focussed oil firm Dragon Oil said it was confident of maintaining its 10 to 15 per cent target growth rate to 2015, putting it on track to produce 100,000 barrels of oil per day (bopd) in four years time. The company said on Monday that following a detailed review of its oil fields, it expected [...]
IHG revenues rise in Americas October 24, 2011 Intercontinental Hotels Group, the world’s biggest hotelier, reported higher revenue growth at its American operations and said customer demand had remained strong despite the global economic slowdown. “The US industry experienced record levels of room night demand in the third quarter as leisure travellers remained resilient through the summer and demand from business travellers stayed [...]
Row engulfs crunch EU summit October 24, 2011 CRACKS appeared in Europe’s show of solidarity yesterday as politicians descended into bickering and again pushed back the deadline for presenting a rescue plan for the euro. Prior to a stark warning from Prime Minister David Cameron that the crisis is having a “chilling effect” on growth, French president Nicolas Sarkozy reportedly lost his cool [...]
Cameron in promise to defend UK October 24, 2011 PRIME Minister David Cameron last night attempted to deflect attention away from a massive rebellion of Eurosceptic Tory MPs by pledging to defend the interests of EU member states that remain outside the Eurozone. Further fiscal integration in the Eurozone – seen as one solution to the single currency area’s debt crisis – is supported [...]
US rating may be cut again October 24, 2011 THE United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts. The trigger would be a likely failure by Congress to agree on a credible long-term plan to cut the [...]
Cameron gets it wrong over EU mess October 24, 2011 IT is a messy, angry and confusing picture. But some elements of the long-awaited deal to “rescue” the Eurozone are beginning to emerge. Banks will have to raise over €100bn in capital; France’s proposal to boost the firepower of the bailout fund by turning it into a bank and letting it borrow from the European [...]
