BANK’S FISHER IN NO HURRY TO RAISE RATES May 24, 2011 BANK of England rate-setter Paul Fisher showed a dovish outlook yesterday during a speech on the UK’s economic outlook. Downside risks to growth have prompted Fisher to “pause to consider when policy should start to be normalised or even whether further loosening might be justified,” he said, insisting that rate hikes were not urgently needed.
Investment to London keeps up May 24, 2011 London attracted more foreign direct investment in 2010 than every European country apart from France, Germany and Russia, a report from Ernst and Young revealed today. The UK as a whole continues to attract the highest level of investment in Europe, up seven per cent in 2010 from the previous year. While almost half (46 [...]
Private equity exits at fresh high May 24, 2011 Private equity firms have been cashing in on their investment at a record level, analysts Preqin revealed yesterday. Preqin announced 201 private equity-backed exits already in the second-quarter of this year, valued at $85bn (£52.5bn). This is already five per cent higher than the final quarter of 2010, according to the report. European exit value [...]
Norwegian GDP growth slows May 24, 2011 Norway’s mainland GDP grew slower than the market expectation in the first three months of the year. The economy expanded by 0.6 per cent, after 0.3 per cent growth in the final quarter of last year.
New home sales pick up in US May 24, 2011 The US housing market showed signs of improvement in April, data showed yesterday. Sales of new homes increased by 7.3 per cent to 323,000 in April from a revised 301,000 in March.
Nestle makes $1bn move in US pharma May 24, 2011 NESTLE, the world’s biggest food group, has agreed to buy US gastrointestinal diagnostics firm Prometheus Laboratories for an estimated $1.1bn (£680.5m) as part of the Swiss group’s drive into health sciences. Nestle said Prometheus, which is expected to have annual sales of around $250m in 2012, makes tests to help doctors diagnose conditions such as [...]
Sony shares rise on upbeat outlook despite fresh hacking of online info May 24, 2011 SONY’S shares bounced from two-month lows yesterday as expectations were raised that it might have put its troubles behind it after it said this year’s operating profit would match last year’s, easing worries about the impact of the March earthquake. In its first estimate for the year to March 2012, Sony said its operating profit [...]
Toshiba shifts focus from nuclear to offset order delays May 24, 2011 TOSHIBA said yesterday it may not reach its target of 39 orders for nuclear reactors until two to three years later than expected, and that it would increase focus on renewables as the crisis rumbles on at the Fukushima Daiichi nuclear plant. Despite the setback, Toshiba said it aims to more than double its operating [...]
Tepco admits rod damage May 24, 2011 TOKYO Electric Power (Tepco), the operator of the Fukushima Daiichi nuclear power plant disabled by the 11 March earthquake and tsunami, confirmed yesterday that there were meltdowns of fuel rods at three of the plant’s reactors early in the crisis. It had said earlier this month that fuel rods in the No.1 reactor had melted, [...]
Pennon flush with profit May 24, 2011 Waste and water company Pennon yesterday reported a pre-tax profit rise of 1.5 per cent to £188.5m for the first three months of the year and recommended a final dividend per share up 9.9 per cent to 17.15p. The company says it is well positioned in the current economic conditions with South West Water continuing [...]
