Diageo bullish as profits rise August 29, 2008 With two world wars and a few revolutions under its belt, alcoholic drinks giant Diageo is well placed to weather the economic downturn, its chief executive Paul Walsh said yesterday when announcing the group’s results – despite warning of slowing growth ahead. The maker of Guinness and Smirnoff posted a 2 per cent increase in [...]
Savills sales plunge fails to dampen mood August 29, 2008 Property group Savills was buoyant yesterday, despite a 41 per cent slump in first-half underlying pre-tax profit to £19.2m, owing to ailing commercial and residential property markets. The company saw its shares soar 17 per cent to 283.75p yesterday, as an 88 per cent fall in profits to £2.5m at its residential and commercial sales [...]
Henderson promotes equities August 29, 2008 Fund firm Henderson Group yesterday said that chief executive Roger Yates is to stand down in November. The news was announced along with the group’s interim results, in which it reported a 16 per cent fall in profit and confirmed its plans to cut its tax rate by relocating to Ireland. First-half pre-tax profit for [...]
ITV faces exit from FTSE 100 August 29, 2008 Mobile phone retailer Carphone Warehouse and broadcaster ITV are in danger of being ousted from the blue chip FTSE 100 at its next quarterly review. The two will join pub chain Enterprise Inns and Ukrainian iron ore producer Ferrexpo, which have both fallen below 111th position in the FTSE ranking, based on their market capitalisation, [...]
Rate cut calls grow August 29, 2008 Bank of England monetary policy committee (MPC) member David “Danny” Blanchflower warned two million Britons could be out of work by Christmas as he urged the central bank to cut interest rates. Blanchflower, who has voted for a rate cut at the past eight monthly MPC meetings, said yesterday that a cut of more than [...]
House price fall takes UK to the brink August 29, 2008 Economy on the verge of crisis as house prices fall at their sharpest rate for 18 years Fresh evidence that Britain’s economy is on the brink of crisis continues to emerge after August house prices fell at their sharpest annual rate in 18 years and retail sales slumped. House prices fell 1.9 per cent during [...]
Chelsea set for a showdown with Real after replica Robinho shirts go on sale August 29, 2008 Chelsea have sparked a row with Real Madrid by advertising replica Robinho shirts – even though the Spaniards insist he is still their player. Blues chief executive Peter Kenyon announced on Wednesday that the club were close to completing the signing of the Brazilian striker and were “ever confident” the deal would be done before [...]
SWP capture inspires City to Cup escape August 29, 2008 Mark Hughes believes Manchester City have landed a transfer coup in luring Shaun Wright-Phillips back to Eastlands. Hughes finally landed the England international from Chelsea for around £9m yesterday – just three years after City sold him to the Blues for £21m. The 26-year-old winger started only 43 games for Chelsea in those three years [...]
Cash and bonds will help protect your investments from stagflation August 29, 2008 It’s time to re-balance your portfolio to cushion the blow of the bear market, says Bill Jamieson Investors have arrived at a critical inflection point on portfolio planning. Many believe that key sectors of the equity market such as banks and house builders are now undervalued, yet they choose to remain markedly underweight in these [...]
United drawn with Celtic in British battle August 29, 2008 Holders Manchester United will lock horns with Celtic in another Battle of Britain as the Champions League season began with a fascinating group stage draw in Monaco. Sir Alex Ferguson’s side, who edged out Chelsea to take the trophy last season, will meet the Scottish champions for the second time in three seasons in Group [...]
