Production up at Atlantic Coal September 27, 2012 Pennsylvania-focused Atlantic Coal yesterday unveiled increased production and revenues over the first six months of 2012. The AIM-listed coal production firm reported a 17 per cent increase in coal production to 69,415 tonnes, up from 59,533 tonnes last year. Revenue spiked 19 per cent to $8.9m (£5.4m), up from $7.5m in the first half of [...]
Frontera Resources reports loss September 27, 2012 Frontera Resources swung to a loss in the first half of this year, reporting a net loss of $4.4m (£2.7m) from $11.2m over the first half of 2012. The oil and gas exploration and production company, whose core operations are in Georgia, reported increased crude oil sales of $3.3m, up from $3.1m last year. The [...]
Second quarter US GDP growth revised down September 27, 2012 US GROWTH estimates for the second quarter were slashed yesterday while durable goods sales slumped, but American unemployment continued on its steady downward trend. Real GDP increased at an annualised rate of 1.3 per cent in the second quarter, the Bureau of Economic’s third estimate revealed, lowering its second estimate by 0.4 percentage points. On [...]
Industry body says new house undersupply is getting worse September 27, 2012 HOUSE BUILDING continued to slump in 2012, a lobby for homeowners revealed today, continuing the chronic undersupply in the UK market. New home registrations declined to 9,553 in August, four per cent below last year’s figure of 9,978, according to data from the National House-Building Council (NHBC). This brought the total for the year-to-date up [...]
Lack of lending hurting retailers September 27, 2012 The lack of mortgage lending to first time buyers is not only hurting the housing market, but also retailers selling tools, homewares, and furniture, data revealed today. Boosting lending would have a knock-on effect on these markets, the data released jointly by Genworth, the British Retail Consortium and KPMG showed. “A lack of lending leads [...]
UK consumers less downbeat September 27, 2012 UK consumer confidence grew in September, an index from market research firm GfK revealed today, but households were still gloomy. Their headline index grew from minus 29 in August to minus 28 in September, putting the index two points above September last year. “Even a one point increase…will offer some grounds for optimism to the [...]
Under 40s plan to leave the UK September 27, 2012 A growing proportion of UK citizens under the age of 40 are seeking advice from wealth managers about moving overseas, the deVere group claimed yesterday. The third quarter saw a 36 per cent upturn in the number of under 40s seeking advice on emigrating, the firm said. But chief executive Nigel Green said the country [...]
City Moves | Who’s switching Jobs September 27, 2012 Smith & Williamson Nick Murphy has been appointed as investment management director in the professional and financial services firm’s London office. He joins from Quilters, where spent 13 years and was most recently co-manager of gross funds. Murphy also sat on the asset allocation and charity committees at Quilters, and he is an associate of [...]
Best of the Brokers September 27, 2012 CINEWORLD Panmure Gordon has downgraded the multiplex chain to “sell” from “hold”, and has cut its target price to 220p from 230p. Cineworld saw low admissions during the Olympics. The coinciding releases of blockbuster franchises such as the Hobbit and James Bond are expected to bring the strongest trading in the last two months of [...]
FTSE edges up as banks and mining shares find favour with investors September 27, 2012 GAINS by bank and mining stocks helped lift Britain’s benchmark share index yesterday, although investors said worries over the Eurozone could limit further moves higher and favour more defensive sectors such as food or health stocks. The blue-chip FTSE 100 index, which fell 1.6 per cent on Wednesday to a three-week low, recovered slightly to [...]
