Aer Lingus bats away Ryanair as profits rise July 31, 2012 IRISH airline Aer Lingus, which is trying to resist a takeover bid by larger rival Ryanair, yesterday posted an 18 per cent boost in operating profits in the three months to June and said it would at least match last year’s profit performance. The former Irish flag-carrier said yields per passenger were up 5.3 per [...]
Reuters owner sees sales fall July 31, 2012 THOMSON Reuters’ sales fell in the three months to July as tough conditions in Europe and banks cutting costs took their toll. The news and information provider said it expected turnover to continue to decline in the rest of the year. Shares in Thomson Reuters fell three per cent on the news. Chief executive James Smith [...]
Pfizer profits beat forecasts July 31, 2012 PFIZER reported higher-than-expected quarterly earnings yesterday, due largely to lower spending on research and marketing, and said it may fully divest its animal health unit following an initial public offering of up to 20 per cent of the business. Pfizer said it earned $3.25bn, or 43 cents per share, in the quarter, compared with $2.61bn, [...]
AB InBev hit by marketing and transport July 31, 2012 ANHEUSER-Busch InBev, the world’s largest brewer, fell short of second-quarter earnings expectations due to the expense of marketing new US brands and higher transport costs there and in Brazil yesterday, but it forecast improvements in the second half of the year. The company, which last month agreed to buy out its partner in Mexico, reported [...]
CITY MOVES | WHO’S SWITCHING JOBS July 31, 2012 Arle Capital Partners Hilary Ellis has been appointed human resources director at the private equity firm. She will also sit on the board of Alma Consulting, one of Arle’s portfolio companies. Ellis was most recently at Alstom, where she served as director of integration and change management. PensionsFirst Capital Hugo James has been appointed chief [...]
BEST of the BROKERS July 31, 2012 ITV Deutsche Bank has downgraded the broadcaster from “hold” to “sell” on a weak ad revenue outlook. DB says networks are “in denial” when assuming growth next year, and has cut its target from 80p to 72p. SAGE Peel Hunt has moved the software group to “sell” from a previous “hold” rating, saying the market [...]
US stocks take a breath ahead of Fed meeting July 31, 2012 US stocks fell yesterday with traders’ sights set again on today’s Federal Reserve statement on the economy and a possible new round of stimulus. The Nasdaq, which underperformed on Monday, was the smallest decliner among the three major US stock indexes in yesterday’s session, thanks in part to Apple shares’ gain of 2.6 per cent [...]
Disheartening words from Europe send FTSE 100 deeper into the red July 31, 2012 BRITAIN’S FTSE 100 fell yesterday, extending earlier losses, weighed by worries the European Central Bank may not deliver enough stimulus this week to tackle a global economic slowdown, as comments by German policymakers further dented expectations. At the close, the FTSE 100 was down 45.97 points, or 0.8 per cent, at 5,647.66, also weighed by [...]
PROPERTY GROUP OF THE YEAR July 31, 2012 IT HAS been another testing year for most industries, not least for the property sector. The main theme has been the continued lack of available debt, which has dried up development projects, while ongoing uncertainty in the global economy has shaken confidence and in turn stifled demand for space. But it has not all been [...]
INSURER OF THE YEAR July 31, 2012 OUR INSURER of the year award celebrates firms from across the industry, ranging from small specialists to global giants. Lloyd’s of London firms such as Lancashire qualify for their commitment to innovation and personal service in a global marketplace. Meanwhile the changing face of the British insurance business is recognised with the nomination of firms [...]
