It’s Ken Again October 21, 2005 He is 74 but Ken Morrison is in no mood to slow down and take it easy. During the span of a career in the City a businessman usually plays the role of hero and villain. Sir Ken Morrison was typecast as the former until he acquired Safeway a year ago. In 2001 when it [...]
BHP to boost production October 21, 2005 BHP Billiton, the world’s largest mining company, will invest $1.3bn (£735m) to boost iron-ore production in western Australia in the face of rising demand by Asian markets led by China. The move comes just 24 hours after Rio Tinto said it would also commit $1.35bn to increase the iron-ore production of its mines in western [...]
Porsche upbeat about vehicles sales target October 21, 2005 German luxury carmaker Porsche will hit its mid-term vehicles sales target earlier than planned, its sales chief told German industry newspaper Automobilwoche. “We will not have to wait until 2008 to reach annual sales of 100,000 units,” Hans Riedel said in an interview to be published this morning. In the fiscal year that ended in [...]
Nestle sales hit £29.6bn October 21, 2005 Nestle, the world’s largest food manufacturer, has romped to better than expected sales this year. The company, which produces Nescafe and Kit Kat, said yesterday its sales were 5.8 per cent higher for the first nine months. Switzerland-based Nestle also reaffirmed its targets of 5-6 per cent organic growth for the full year as the [...]
China GDP on a roll October 21, 2005 China’s economy recorded a whopping 9.4 per cent growth in the last quarter, leaving the anaemic economies of the West far behind. Growth exceeded analysts’ expectations as the Chinese juggernaut was bolstered by strong exports and high public spending. Real gross domestic product (GDP) grew by 9.4 per cent on last year on the back [...]
Paladin gets boost from Talisman October 21, 2005 City followers swept up British oil company Paladin’s shares after a £1.2bn bid with Canadian rival Talisman was agreed yesterday. Shares in Paladin rocketed to close up 74.5p, or 27 per cent, at 349.5p, after the details of the deal were announced. The deal values Paladin shares at 355p, a 17.8 per cent premium on [...]
Judge only trial for drug cartel October 21, 2005 The Serious Fraud Office (SFO) may delay bringing criminal charges against drug company directors accused of rigging the prices of NHS drugs until next year. The delay would allow the suspected cartelists to be tried under the new judge-only court procedure. The SFO opened an investigation into generic drug manufacturers Goldshield Group, Generics UK, Kent [...]
Brown shaves £3bn off budget deficit October 21, 2005 Chancellor Gordon Brown got off lightly yesterday when the public sector finance figures released by the Treasury looked much healthier than expected. However, analysts suspect some sleight of hand in the way the figure has been calculated. The budget deficit narrowed to £14.6bn for the first six months of fiscal year 2005-2006, down from £17.6bn [...]
eBay shares fall despite sales hike October 21, 2005 eBay has grown even bigger in the last three months with sales now topping $1.1bn (£621m), it said yesterday. Shares still fell, however, as the online auction company had to defend itself over its $4.1bn (£2.26bn) purchase of Skype Technologies, the internet telephony company. eBay, which has taken the world by storm with its service [...]
A fatal attraction October 21, 2005 If you have dated more than your fair share of ugly ducklings and psychos, then Lorraine Adams may have the answer. I was enjoying the company at one of my recent member-hosted Bellini and canapes evenings when the conversation turned around to Gareth Sibson and the women he encountered when he set up his website [...]
