Italian business morale takes a dip May 26, 2011 Italian business confidence sank by more than expected this month, according to data from the ISTAT office released yesterday. The index measured 101.3 in May, from a downwardly revised 102.6 in April. “It is important for Italy that foreign orders stay on an upward trajectory,” said Fabio Fois of Barclays Capital. “The economic recovery has [...]
Small businesses avoiding failure May 26, 2011 Fewer small companies became insolvent in April than the same time last year, data from Experian revealed yesterday. The number of failing UK companies dropped by 0.55 per cent year on year.
London & Stamford to invest £1bn May 26, 2011 BRITISH property investor London & Stamford yesterday said it saw investment opportunities in retail, logistics and London residential for its £1bn war chest, after reporting a rise in 2010 net asset value (NAV). The company, which moved from the London Stock Exchange’s junior AIM market to the main board last October, said its NAV per [...]
Balfour set to reshuffle its advisers May 26, 2011 GLOBAL infrastructure group Balfour Beatty has decided to hold a beauty parade of advisers ahead of a likely change in its corporate brokers. The group’s current broking advisers are JP Morgan Cazenove and RBS, who have served the company for many years. Group chief executive Ian Tyler (pictured) is believed to feel that it is [...]
Trading and profits rise at Shanks May 26, 2011 BRITISH waste management company Shanks yesterday posted a better-than-expected six per cent rise in underlying pre-tax profit, and said it had seen an improvement in the market for its services in recent months. The company, which makes around half its sales in the Netherlands and recently won a contract with Unilever to recycle its waste [...]
Antofagasta’s earnings jump 30 per cent May 26, 2011 CHILEAN copper miner Antofagasta posted a 30 per cent rise in core earnings in the three months to March, as higher prices for the red metal and marginally higher volumes offset increased costs. Earnings before interest, tax, depreciation and amortisation (EBITDA) in the first quarter climbed to $811.9m (£495.8m) from $623.4m a year ago. Revenue [...]
United Utilities tops views May 26, 2011 UNITED Utilities, Britain’s largest listed water utility, yesterday reported a lower-than-expected drop in annual profits, after it was ordered by regulators to cut prices as part of a sector review. The company said revenue from regulated activities dropped four per cent, reflecting a similar four per cent decrease in prices. United Utilities said underlying pre-tax [...]
Upbeat profit outlook at Sony May 26, 2011 SONY’S forecast of its first annual net profit in four years is being viewed as optimistic, as the consumer electronics giant struggles with the aftermath of the March earthquake and a series of network security breaches. Havoc to supply chains and the physical damage caused by Japan’s earthquake and tsunami forced Sony earlier this week [...]
Tata Steel warns on rise in costs May 26, 2011 INDIA’S Tata Steel yesterday warned rising raw material costs could hurt margins for a couple of quarters after posting its highest-ever annual net profit, bolstered by a surge in prices and demand in Asia’s third-largest economy. The world’s seventh largest steelmaker, whose European operations account for two-thirds of its global capacity of about 28m tonnes, [...]
Raiffeisen cheers as bad loans fall May 26, 2011 AUSTRIAN lender Raiffeisen Bank International’s first-quarter net profit fell nearly a fifth amid a hit from taxes but still beat market expectations as provisions for bad loans fell by more than a third. Emerging Europe’s third-biggest lender by assets reiterated yesterday it expected its non-performing loan (NPL) ratio to peak later this year amid robust [...]
