Bank forecast to hold rates August 1, 2012 SHADOW MPC members forecast the monetary policy committee (MPC) would hold fire on rate cuts and increased asset purchases (QE) when it votes on policy today, while the effects of last month’s QE and funding for lending (FLS) filter through. Only two of the nine shadow committee members predicted change, with Corin Taylor from the [...]
Comcast beats expectations August 1, 2012 Comcast posted a higher-than-expected profit yesterday as an increase in customers offset weakness at NBC Universal, and the firm said it no longer expects to lose money on Olympics 2012 coverage. Second-quarter net income rose to $1.35bn from $1.02bn a year ago.
Harley Davidson revs up profits August 1, 2012 Harley Davidson reported a better-than-expected 29.7 per cent rise in profit yesterday, but shares slid as it said third-quarter motorcycle shipments would be below prior-year levels as it retools a big US factory. Harley’s second-quarter earnings rose 29.7 per cent to $247.3m.
Avon in talks over bribery probe August 1, 2012 Avon Products said yesterday it is in talks to settle a US bribery probe into overseas operations, as it reported a 70 per cent plunge in second-quarter profit and said it expects no improvement in the second half. Avon’s net profit was $61.6m, down from $206.2m a year ago.
Amazon launches iPad streaming August 1, 2012 Amazon.com launched a video application for Apple’s iPad yesterday, in its latest effort to get its digital content on as many gadgets as possible. The Instant Video app lets users stream or download movies and TV shows bought or rented from Amazon on their iPads.
Antofagasta on track for target August 1, 2012 CHILEAN miner Antofagasta posted an increase in second quarter copper output, setting it on track to hit its full-year target, as the cost of producing a pound of red metal dipped, thanks to improvements at trouble-hit mine Esperanza. Antofagasta, which recently appointed copper heavyweight Diego Hernandez as its chief executive, said production rose 6.3 per [...]
Ferroalloy production dips at miner ENRC but copper booms August 1, 2012 KAZAKH mining group ENRC reported a drop in second-quarter output from its key ferroalloys and iron ore divisions yesterday, hit by repair work, but saw increased production from its growing copper arm. The London-listed miner’s headline 0.9 per cent dip in ferroalloys over the three months was largely due to a three per cent drop [...]
Cape falls after profit warning August 1, 2012 SHARES in industrials services provider Cape plunged yesterday after the company said it was unlikely to meet its previous expectations for the full year – its second profit warning in as many months – citing a decline in performance at its onshore business unit in Australia. The FTSE-250 company’s shares plunged 35.5 per cent to [...]
Atkins expects hit to income August 1, 2012 DESIGN and engineering firm WS Atkins said yesterday that it anticipated annual profit would fall below expectations after its consultancy business was hit by weak market conditions in the US and Middle East project delays. Atkins, which helped design the London 2012 Olympics site and is renovating New York’s Statue of Liberty, yesterday said that [...]
Mouchel set to restructure August 1, 2012 MOUCHEL yesterday agreed to a restructuring that will give its lenders a majority interest in the British infrastructure firm and delist the company to avert an impending debt default. The restructuring – supported by Royal Bank of Scotland, Lloyds Banking Group and Barclays – will result in the lenders releasing £87m of Mouchel’s existing debt [...]
