Car talk October 16, 2012 The new Turbo S Porsche is a powerful upgrade on the V8 Porsche has introduced a new flagship Cayenne SUV, the Turbo S. The 4.8-litre twin-turbocharged V8 has had its power increased by an additional 10 per cent over the Turbo model. The extra 50bhp translates to a 0-62mph time of 4.5 seconds and a [...]
FTSE 100 up on banking and mining shares October 16, 2012 The blue chip index was up this morning, as investors reacted more positively to US macroeconomic data, consolidating gains in Asia and the US. Mining and banking stocks pushed the FTSE 100 up in early trading, with Lloyds, Evraz, Kazakhmys and Antofagasta leading the blue chip index. Insurer CPP Group topped the FTSE All-Share index [...]
Inflation falls to lowest level in almost three years October 16, 2012 Consumer price inflation fell to 2.2 per cent in September, the lowest level since November 2009. Official figures from the Office for National Statistics said this morning that the rate of inflation fell from 2.5 per cent in August, largely due to the effects from September 2011’s utility bill rises dropping off. The ONS said [...]
European car slowdown weighs on GKN October 16, 2012 Engineering firm GKN this morning reported broadly flat pre-tax profit in the third quarter, as it said challenging European markets were weighing on its business. GKN, which makes parts for cars and planes, reported pre-tax profit for the third quarter of £99m, down from £100m in the third quarter of last year. Revenue increased to [...]
Smiths News reports profit jump October 16, 2012 Newspaper and magazine wholesaler Smiths News this morning posted a 23 per cent increase in pre-tax profit for the year to 31 August. Smiths called it a “robust performance” in “challenging market conditions”, helped by the performance of recent acquisitions in the book, education and care market. Smiths has been diversifying away from newspapers and [...]
William Hill and GVC agree terms for Sportingbet takeover October 16, 2012 Bookmaker William Hill and GVC Holdings said this morning they had reached an agreement over the terms of the takeover of online betting firm Sportingbet. The proposal values each Sportingbet share at 61.1p, up from a previous 52.5p. It comprises 48.9p in cash, 1.1p dividend in cash and 0.0475 new GVC Holdings shares per Sportingbet [...]
Nat Rothschild quits board of troubled Bumi October 15, 2012 NAT ROTHSCHILD last night resigned from the board of struggling coal group Bumi with immediate effect, claiming the firm was failing to act in the interests of its minority shareholders. The move is the latest shock for the investment vehicle Rothschild himself put together less than three years ago and which has embroiled some of [...]
RBS mulls float of branches to create challenger bank October 15, 2012 RBS is working on a plan to float the 316 branches it is being forced to sell off, in a move that could create a new high street bank. The state-owned institution had hoped to sell the branches to Santander, but after several years of negotiations the bidder dropped out last Friday. It needs to [...]
Virgin keeps its hands on West Coast during probe October 15, 2012 VIRGIN Trains has been asked to keep running the West Coast Main Line next year while the government gets to the bottom of its mistakes during the franchise competition. Transport minister Patrick McLoughlin said “there will be no sop to any organisation” while his department’s errors are probed and the bidding process is run again. [...]
Two technologies that will create jobs and change the world October 15, 2012 PLEASE don’t fall off your seats, dear readers. Rather than focusing on what is wrong with the world, today’s column is about two positive, ground-breaking technologies with the potential to create jobs and prosperity and revolutionise the way we live. One such area is driverless cars: Google is one of the main forces behind this [...]
