Bullish ICE sees profits surge 18pc February 9, 2011 INTERCONTINENTALEXCHANGE’S (ICE) quarterly earnings rose a better-than-expected 18 per cent, and the exchange operator said regulatory changes would help it continue a multi-year growth trajectory. ICE, whose growth depends on taking advantage of global derivatives market reforms, said yesterday it expects revenue from its two-year-old credit derivatives clearing house to rise 15 to 20 per [...]
Battersea Power Station is go February 9, 2011 The developer of the Battersea Power Station site won final approval for its regeneration plan yesterday, which is now due to begin in 2012. Real Estate Opportunities got the green light from secretary of state for communities and local government Eric Pickles for the £5.5bn scheme yesterday, following earlier approval from the Mayor of London [...]
Air France-KLM warns on profit February 9, 2011 Air France-KLM warned it would miss its full-year target for operating profit after snow, strikes and security problems conspired to put pressure on its finances. Europe’s largest airline by revenues said yesterday it would make less than the previously targeted operating profit of €300m (£256m) in the year to the end of March, but would [...]
Whole Foods sales jump again February 9, 2011 Organic grocer Whole Foods saw first-quarter net income jump almost 79 per cent, beating market expectations, and raised its full-year earnings forecast for 2011 yesterday. The Texas-based company made $3bn (£1.87bn) revenue, above forecasts for $2.95bn. It generated $88.7m earnings or 51 cents per share in the quarter, up from $49.7m or 32 cents per [...]
More merger mania as NYSE enters talks February 9, 2011 EXCHANGES worldwide are being swept up in an accelerating wave of consolidation after Deutsche Börse yesterday afternoon revealed it was in advanced talks with NYSE Euronext to create the world’s largest exchanges operator by revenues. Coming just hours after the London Stock Exchange (LSE) and Canada’s TMX Group said they would join forces to create [...]
Everyone gets their 15 minutes of fame February 9, 2011 THAT the merger between the London and Toronto Stock Exchanges was old news by the end of the day on which it was announced is indicative of just how quickly consolidation in the sector is moving. By the afternoon, Deutsche Börse and NYSE Euronext had stolen the limelight, announcing they were in advanced talks to [...]
Reckitt slides after profit misses target February 9, 2011 RECKITT Benckiser shares took a hit yesterday after the company’s fourth-quarter profit rose but fell short of forecasts. Shares in the maker of Dettol and Cillit Bang closed 5.1 per cent lower at 3,270p after it said net revenue rose ten per cent to £2.28bn, and like-for-like sales climbed five per cent. Pre-tax profit fell [...]
SuperGroup in 87pc bumper sales increase February 9, 2011 RETAILER SuperGroup yesterday posted stellar sales figures after a storming performance over Christmas. The owner of the Superdry brand said yesterday it would be targeting an expansion in online sales and a fresh assault on the European market in 2011. SuperGroup’s total sales rose 87 per cent to £81.7m in three months to 30 January. [...]
ANALYST VIEWS: WHERE IS RECKITT BENCKISER GOING WRONG? February 9, 2011 GRAHAM JONES | PANMURE Reckitt’s top line seems slightly weaker than expected. Pharma growth remains strong however, and the fact that Suboxone [heroin substitute] film strips have already grabbed 25 per cent of the market in the US is positive. It is a mixed picture with pharma muddying the waters. MIKE HUGHES | DATAMONITOR Reckitt [...]
HELPING THE CITY THINK OUTSIDE OF THE BOX February 9, 2011 WHAT does a FTSE 250 chairman do when he’s not scrutinising business plans and keeping shareholders happy? Well if you’re John Pluthero, chair of Cable & Wireless (below right), then the answer is you launch an initiative to challenge accepted ideas surrounding abstract art, of course. Building on his long-held interest (and collection) in post-war [...]
