Premier Gold drops after placing May 2, 2012 ■ Premier Gold yesterday suffered a 14 per cent plunge in its share price after it announced a £350,000 placing. It said the fresh funds will be used to advance exploration work at the cholokkaindy gold project in Kyrgyzstan. The placing was of 70m new ordinary shares at 0.5 pence each with institutional investors the [...]
Sluggish BRIC manufacturing production hits world outlook May 2, 2012 WEAK manufacturing output across the leading emerging markets in April has dented hopes of a healthy global recovery, studies revealed yesterday. Factory activity deteriorated in China and Brazil, Markit’s purchasing managers’ indices (PMI) showed, although more solid growth was recorded in India and Russia. Weak demand dragged down both output and new orders in Brazil [...]
Business lending data points to a continued squeeze on credit May 2, 2012 BANK lending to businesses dropped again in March, official data showed yesterday, raising further criticism that the government is failing in its stated aim to improve credit conditions. Borrowing by firms fell £3.2bn in the month, the Bank of England revealed, following drops of £4.2bn in February and £3.6bn in January. That means bank lending [...]
Strong building output raises growth hopes May 2, 2012 INCREASING orders and rising optimism pushed up activity in the construction sector in April, survey data showed yesterday, countering fears that the sector is dragging down the economy as a whole. Markit’s purchasing managers’ index came in at 55.8, slightly down on March’s 21-month high of 56.7, but still indicating solid growth above the “no [...]
Fears for US as factory orders and jobs slow May 2, 2012 A SLUMP in factory orders and a smaller than expected rise in private sector employment yesterday knocked hopes for a stronger US economic recovery. New orders for US factory goods in March recorded their biggest decline in three years as demand for transportation equipment and a range of other goods slumped, Commerce Department figures showed. [...]
FED OFFICIAL CALLS FOR SHADOW BANK RULES May 2, 2012 US REGULATORS should take steps to strengthen government oversight of money market funds and short-term bank funding markets so that the “shadow” banking system can be better policed, said Fed governor Daniel Tarullo yesterday.
Incompetent bosses add to recession May 2, 2012 MILLIONS of managers across Britain lack the necessary leadership and management skills, which is holding back productivity and hitting the economy’s potential, according to an industry study published today. The UK’s eight million managers frequently have an over-inflated view of their own abilities and of their success, the Chartered Institute for Personnel and Development’s (CIPD) [...]
US corporate results round up May 2, 2012 Time Warner revenue up TIME Warner said yesterday its revenue rose four per cent from a year ago, but impairment charges including one from the troubled HBO series Luck kept the media company from recording a higher profit in the first quarter. First-quarter revenue from the company’s TV and cable networks, which include TNT, CNN [...]
Playtech heads to main market May 2, 2012 GAMING software group Playtech said yesterday its first quarter revenues had doubled, helped by strong growth at its casino businesses, and that plans to shift its listing to London’s main market were progressing well. But the group added that it was dropping plans to buy some social gaming assets owned by founder and Israeli billionaire [...]
TNT says UPS deal still on track May 2, 2012 DUTCH parcel delivery company TNT Express said yesterday its acquisition by US group United Parcel Service (UPS) was on schedule, as it reported a return to a first-quarter operating profit. TNT Express said it had first-quarter operating income of €37m (£30m), compared with a €79m loss in the 2011 period. Revenue rose 1.3 per cent [...]
