ART & SOUL November 14, 2012 The annual ING Discerning Eye exhibition, showcasing the work of unknown artists alongside more established names, opens to the public today at The Mall Galleries in London. Nearly 200 selected artists will display their artworks at this year’s exhibition, which attracted more than 2,000 submissions. This year’s selector panel includes English abstract expressionist Albert Irvin, [...]
Weak investor sentiment holds back FTSE 100 November 14, 2012 Worries over the US economy and Greece’s unresolved debt crisis dragged down the leading share index in early trading this morning. On the FTSE All-Share, broker Icap led the fallers, tumbling 6.32 per cent as it reported a 26 per cent drop in profits. Electricals retailer Darty fell 5.46 per cent in early deals, as [...]
Unemployment falls to 2.51m as employment rate rises November 14, 2012 The number of people out of work fell 49,000 to 2.51m over the three months to September, as the employment rate jumped again. The employment rate for the third quarter was 71.2 per cent, up 0.2 per cent on the previous quarter, according to official figures from the Office for National Statistics. The ONS said [...]
Asian growth boosts Prudential November 14, 2012 Insurer Prudential this morning reported a 13 per cent rise in profit, boosted by strong growth in its Asian markets. Over the year to date, new business profit was up to £1.7bn, while sales were up 14 per cent year on year to £3.1bn. Profit in Asia, where Prudential makes almost half of its sales, [...]
Icap hit by trading slump as profits fall November 14, 2012 Interdealer broker Icap said this morning it saw no rapid improvement across the markets in which it operates, as it posted a 26 per cent drop in pre-tax profit. Over the six months to September, revenue at the broker fell 14 per cent to £746m. Chief executive Michael Spencer called the period “one of the [...]
AG Barr and Britvic agree merger November 14, 2012 AG Barr and Britvic have agreed the terms of an all-share merger, which will create one of the leading soft drinks companies in Europe. The enlarged company, which will be called Barr Britvic Soft Drinks, will have annual sales of £1.5bn. The merger ratio will be 0.816 new AG Barr shares for every Britvic share [...]
Profits and market share increase at Sainsbury’s November 14, 2012 Supermarket J Sainsbury this morning beat expectations by reporting pre-tax profit of £373m over the half year to September, up 5.4 per cent year on year. The supermarket chain’s market share ticked up to 16.7 per cent, the highest for almost a decade, following 31 consecutive quarters of like for like sales growth. J Sainsbury [...]
Energy row heats up November 14, 2012 FRESH claims that traders fiddled the wholesale gas price surfaced yesterday as the government pledged to ensure the “full force of the law” is used on those found abusing the market. Energy secretary Ed Davey yesterday stressed the coalition’s “absolute determination to clamp down on any abuse that is uncovered, wherever it might be and [...]
Markets wobble as eyes stay fixed on euro talks November 14, 2012 MARKETS took a hit yesterday from strife between key bailout providers to crisis-struck Greece, yet later recovered as hopes rose that Spain might finally request a full sovereign bailout. The euro sank to a two month low, touching $1.266, as the International Monetary Fund (IMF) admitted differences of opinion between it and the Eurogroup of [...]
Scandals have made the UK a dangerously low-trust society November 14, 2012 IN his bestselling book Trust, Francis Fukuyama argued that social capital is an essential prerequisite to prosperity. High-trust societies enjoy complex networks of voluntary associations, and this creates a climate conducive to commercial cooperation, entrepreneurship, the building of large companies and international trade. He warned in the 1990s that trust was in decline in the [...]
