Inmarsat buoyed by maritime and a wave of new subscribers May 9, 2012 SATELLITE company Inmarsat yesterday reported a slight increase in its quarterly core earnings on growth in its maritime unit. “Subscriber growth of over 10 per cent in the first quarter continues to underpin our expectations for improved results in 2012,” said chief executive Rupert Pearce in a statement. Core earnings at Inmarsat Group rose one [...]
Balfour gloomy about Britain May 9, 2012 British construction firm Balfour Beatty yesterday said there are signs of recovery in the US business, though the UK construction market “remains challenging”. The group, which is trading in line with expectations, said its construction services order book has fallen slightly this year as a result of shortfalls in Britain.
Melrose eyes up expansion May 9, 2012 Manufacturing buyout group Melrose yesterday recorded a nine per cent rise in revenue for the first four months of 2012 and said orders during the period were doing well. Melrose said its capital expenditure would continue to be significant.
Centamin’s earnings slide May 9, 2012 Egypt-focused miner Centamin said its quarterly profits fell 3.3 per cent to $54.3m in the first quarter of the year, despite a 21 per cent rise in its gold selling prices. Its shares rose, however, as production at its flagship Sukari mine jumped nine per cent.
Costain raises its dividend May 9, 2012 Engineering and construction group Costain plans to raise its dividend after a year of overhauling the business has delivered new streams of revenue. The firm, which failed to take over Mouchel last year has made two other acquisitions in the year, and said yesterday a quarter of its order book is now made up of [...]
Poor transport links pull down export growth May 9, 2012 BRITAIN’S shift towards export-led growth is being slowed by poor and expensive transport connections, according to a survey of businesses published today. Companies are seeking new markets, with 32 per cent exporting up from 22 per cent a year ago, the British Chamber of Commerce’s latest survey of 8,000 companies showed. However, a further 41 [...]
CITY A.M. | SHADOW MPC VOTES TO STOP EASING May 9, 2012 ALLISTER HEATH | CITY A.M. “Hold interest rates again and don’t do any more QE. Inflation remains firmly above target. The problem is that banking capital rules have become too restrictive and we urgently need supply-side reforms.” SIMON WARD | HENDERSON “No change. Inflation control is a pre-requisite of improved economic performance, along with supply-side [...]
Japanese economy gains pace May 9, 2012 Japan’s economy is steadily gaining steam, an official forecast showed yesterday, as the employment outlook, consumer confidence and business sales all showed signs of improvement in March. The cabinet office’s leading index increased from 96 in February to 96.6 in March, the fourth consecutive monthly rise. The new job offers index rose from minus 0.01 [...]
US mortgage lending rebounds May 9, 2012 US mortgage applications jumped 1.7 per cent last week, industry data showed yesterday, after a 0.1 per cent rise the week before. The Mortgage Bankers’ Association (MBA) data showed a 1.3 per cent rise in refinancing activity, in part boosted by low borrowing costs. Interest rates on 30-year fixed loans fell to 4.01 per cent [...]
UK firms oppose overseas buyers May 9, 2012 Half of London’s business leaders say it is important that British companies retain their British ownership, according to research published yesterday by Londonlovesbusiness.com and ComRes. However, the view is more emotional than practical, as 62 per cent disagree that foreign ownership limits firms’ development potential.
