Domestic banking aids Credit Agricole to swing to a profit August 26, 2010 CREDIT Agricole, France’s third-largest banking group, said yesterday that growth in its domestic retail business and a strong investment banking performance more than offset further losses in its Greek unit. Second-quarter net profit surged 89 per cent to €379m (£310.4m), as net banking income grew 20 per cent to a record high of €5.47bn. The [...]
Amec is upbeat on future as customers spend more August 26, 2010 OIL services and engineering group Amec posted a 20 per cent rise in first-half profits yesterday and said it saw customer spending returning in most of its key markets. Amec’s first-half earnings before interest, tax and amortisation rose to £113.5m from £94.5m in the same period last year. Its order book grew eight per cent [...]
Savills cautious on 12 month outlook August 26, 2010 GLOBAL property adviser Savills maintained a cautious second-half outlook and raised the spectre of a flat performance in the first six months of 2011 after posting much-improved interim results yesterday. Savills booked group revenue of £304.4m for the first half, up 23 per cent from the same period a year ago. Group underlying profit advanced [...]
CITY MOVES | WHO’S SWITCHING JOBS August 26, 2010 McGrigors The law firm’s London office has appointed Karl Woolley as a partner in its finance practice. He is tasked with strengthening the firm’s relationship with the City’s banks and his experience in acquisition and funds finance is expected to aid this expansion. Woolley joins from SJ Berwin, where he is currently a partner. Prior [...]
BEST OF THE BROKERS August 26, 2010 BHP BILLITON The mining group’s results were largely in line, said Citigroup, with iron ore revenue delivering a surprising jump to $6bn. The broker maintained its “buy” rating with a target price of £27.00. BHP’s recent economic commentary has been cautious, though Citi conceded that investors were likely to focus on its bid for Potash [...]
Battle for the next stage of TV heats up August 26, 2010 DESPITE the ubiquity of the internet, television viewing habits on both sides of the Atlantic remain doggedly traditional. However, the battle for control of the next generation of TV viewers is hotting up. Manufacturers, such as Samsung are already rolling out internet-ready TVs as they prepare for a monumental shift in viewing habits. BBC’s hugely [...]
FTSE begins to recoup losses as miners and banks advance August 26, 2010 BRITAIN’S top share index rose yesterday, boosted by a rebound in commodity stocks and helped by better-than-expected economic data from the US. The FTSE 100 closed up 46.44 points, or 0.9 per cent, at 5,155.84, as London’s blue chips rallied from a seven-week closing low on Wednesday. Weekly jobless claims in the United States declined [...]
G4S sees opportunities in cuts August 26, 2010 SECURITY services group G4S reported a three per cent rise in first-half profit, helped by strong performances at its emerging markets businesses, and predicted UK government spending cuts would fuel further growth. “The Middle East, India and large parts of Asia all show good signs of delivering double digit growth in the second half,” chief [...]
Economic worries stall Wall St gains August 26, 2010 US stocks sagged yesterday and the Dow closed below 10,000 a day ahead of an expected downward revision in US second-quarter economic growth and a major speech by Federal Reserve chairman Ben Bernanke. Major technology shares were among the biggest losers, with the Nasdaq falling more than the Dow and S&P 500. Tech shares have [...]
Bloomsbury pins hopes on Harry Potter reissue August 26, 2010 BLOOMSBURY has seen profits during the first six months of the year plummet by almost 50 per cent, as the publishing house puts its hopes on a November re-launch of the Harry Potter series to pull it back up to 2009 levels. For the period ended 30 June, Bloomsbury saw profits of £949,000, which were [...]
