FTSE falls as Italian bond yields take toll November 14, 2011 European markets were jittery as investors watched a radical overhaul of the political hierarchies in Italy and Greece aimed at ushering in a new economic dawn in the Eurozone. Italy’s president asked former European commissioner Mario Monti on Sunday to form a government, while Greece’s new Prime Minister Lucas Papademos, a former central banker who [...]
Mizuho profits fall by a quarter November 14, 2011 Mizuho Financial Group maintained its full-year net profit forecast after reporting that first-half profit fell 25.4 per cent, weighed down by the absence of hefty bond trading gains that lifted its profits the previous year. Japan’s top three banks are announcing their first-half results on Monday, and Mizuho, the second-largest by assets, had been expected [...]
BHP in $4bn shale gas expansion November 14, 2011 BHP Billiton plans to spend over $4bn (£2bn) on developing shale gas in 2012 following two shale gas acquisitions this year, the head of the top global miner’s petroleum business said on Monday. BHP Billiton spent nearly $17bn buying shale gas producer Petrohawk Energy and shale gas assets from Chesapeake Energy earlier this year. “In [...]
ITV “outperforming” advertising market November 14, 2011 ITV said it expected to outperform the wider television advertising market in 2011 after reporting better than expected trading in the third quarter. The broadcaster, home to such shows as the “X Factor” and “Coronation Street,” said on Monday net advertising revenues in the three months through September were up one per cent, compared with [...]
Majestic wine toasts profits rise November 14, 2011 Majestic Wine has seen a 20 per cent rise in half-year profits, as customers have bought more expensive wines. The company made pre-tax profitS of £8.8m in the year to 26 September, compared with £7.3m a year earlier. Its like-for-like sales rose 2.7 per cent while revenues jumped nine per cent to £127.8m. The company [...]
Osborne in hunt for growth plan November 13, 2011 CHANCELLOR George Osborne is in talks with institutional investors about getting private cash to fund billions in infrastructure projects as part of a desperate bid to get the economy moving despite the global debt crisis. Among the ideas being mulled by HM Treasury is the establishment of an infrastructure investment fund to channel private money [...]
EU’s Monti named as Italian PM November 13, 2011 MARIO Monti, former European Commissioner, was appointed Prime Minister last night by Italian President Georgio Napolitano. He replaces Silvio Berlusconi, who lost his majority in parliament last week during a vote on a routine finance bill and resigned on Saturday. Markets and Eurozone leaders hope Monti will usher in a period of calm after the [...]
UK’s plan to cut sick bills November 13, 2011 WHITEHALL Mandarins are understood to be close to finalising a deal aimed at cutting the UK’s £13bn sickness absence bill. Officials hope to have new rules ready by the end of the month to discourage sick leave, including enrolling workers on a health insurance scheme. The plan could see workers – as well as employers [...]
Even Super-Mario may not save Italy November 13, 2011 THEY call him Super-Mario, for reasons that aren’t quite clear. But Mario Monti, Italy’s non-elected new prime minister, will certainly need super-powers if he is to save Italy from ruin, and prevent a major recession in the Eurozone and hence in the UK. Italy’s main problem is that its economy has barely grown since joining [...]
Vivendi to keep Universal November 13, 2011 UNIVERSAL expects it will have to make divestments in some markets following the acquisition of EMI’s recorded music division by its parent company Vivendi. Sources close to the firm told City A.M. no decisions will be made until after regulatory clearance has been granted – a process expected to take between eight and 10 months. [...]
