Barratt upbeat on house sales February 24, 2011 Housebuilder Barratt Developments said sales had picked up since the start of the year, as it posted losses of £4.6m – down from a £178m loss a year ago as the recession hammered house sales. Barratt said that while the tough mortgage market continued to dampen its trading figures, the firm’s focus on prices rather [...]
Boeing wins $30bn tanker contract February 24, 2011 Boeing yesterday won a contract worth over $30bn to build new refuelling planes for the US Air Force, beating out Europe’s EADS, the Pentagon said yesterday. Air Force secretary Michael Donley told reporters the contract was worth over $30bn and Boeing’s shares rose nearly four per cent in after hours trading. Deputy defense secretary William [...]
US trumps Asia in IPO issuance February 24, 2011 After trailing Asia for the past two years, the US has reclaimed its place as the top region in terms of IPO issuance, according to a report from Renaissance Capital. This is despite 2011 being described as many as the year for emerging markets to dominate. In the the first two months of 2011, the [...]
Turnaround gains pace at Nat Express February 24, 2011 NATIONAL Express showed further signs of rehabilitation yesterday as it posted a 38 per cent jump in adjusted annual profits to £160.5m. Revenues fell 22 per cent to £2.13bn, however, after the firm gave up its loss-making East Coast rail franchise in November 2009. National Express said it will pay a dividend of six pence [...]
STV sees its profits more than double February 24, 2011 STV is likely to bid for a licence to broadcast as part of Culture Secretary Jeremy Hunt’s radical shake-up of local television. STV chief executive Rob Woodward said he is “excited” by the plans and told City A.M. he “wouldn’t be surprised” if a bid was made, adding he is in talks with the department [...]
Toyota to recall another 2.2m vehicles February 24, 2011 TOYOTA yesterday said it was recalling nearly 2.2m vehicles over the risk that the accelerator pedal could be trapped by loose or misplaced carpet mats on the driver’s side. Toyota’s decision to recall the vehicles was part of an agreement it made with US regulators, who in return have agreed to close their investigation into [...]
Mouchel shares jump after it reveals advanced talks with mystery bidder February 24, 2011 SHARES in professional services firm Mouchel leapt yesterday after the firm said it was in advanced takeover talks with an unknown bidder. The embattled company had been the subject of several approaches from Costain, yet the engineer yesterday said it was not a suitor for the firm. Rivals linked with Mouchel include the outsourced service [...]
UK consumer morale stuck in depression February 24, 2011 BRITAIN’S slump in consumer confidence has continued into February, according to a survey commissioned for the European Union, released today. The GfK NOP index rose by one point compared to January yet, at a score of -28, remains 14 points below where the index stood this time last year. “Overall confidence remains low and, although [...]
Firms push for job rules reform February 24, 2011 RADICAL reforms must be introduced if the private sector is to grow the UK out of recession, the British Chambers of Commerce (BCC) will say today. The minimum wage must be reduced for young people, and all new employment regulations scrapped, the BCC is expected to state. “If the government provides a radical framework, business [...]
Eurozone mood highest since August 2007 as Germany’s recovery continues February 24, 2011 BUSINESS confidence in the Eurozone sprung back in February, rising above the expectations of economists to a 41-month high, official data showed yesterday. The EU’s sentiment index recorded 107.8, a point up from January’s upwardly revised score of 106.8. “Consumers, industry and services confidence all contributed to the rise,” said Eoin O’Callaghan of BNP Paribas. [...]
