Cookson Group split takes effect on LSE December 17, 2012 INDUSTRIAL materials supplier Cookson yesterday confirmed that its demerger had become effective, splitting the company into two separate divisions and getting rid of the Cookson name. In line with the terms of the demerger, Cookson shares were cancelled yesterday morning. As proposed at the start of November, the FTSE 250 listed firm said it would [...]
Imagination finally lands chip firm MIPS after bidding frenzy December 17, 2012 BRITISH chip designer Imagination Technologies has finally won the bidding for US-based company MIPS, in a deal that will speed up its entry into the fast-growing processor industry. The company agreed a $100m (£61.7m) price for MIPS yesterday, and bidding rival CEVA said it would not up its offer. The agreed price comes after a [...]
China snaps up iPhone 5s but shares wobble December 17, 2012 APPLE sold more than two million iPhone 5s in China in its first weekend on sale in the country, it emerged yesterday, but the company was knocked by its share price sinking during the day’s trading. Despite the record launch in China, which is expected to become Apple’s biggest market in the near-future, Apple stock [...]
Retailer H&M’s like-for-likes ease worries December 17, 2012 SWEDISH clothing giant, Hennes & Mauritz yesterday posted a smaller than expected drop in like-for-like sales for November compared to same month last year, easing fears of large markdowns to reduce unsold stock amid weak demand in key markets. The retailer said local-currency sales at stores open a year or more shrank one per cent [...]
Agent Provocateur figures lifted December 17, 2012 Luxury lingerie firm Agent Provocateur saw sales increase 18 per cent in the year to 26 March, with figures boosted by shop openings in cities such as Amsterdam, Madrid and Rome. Turnover rose from £26.7m to £31.4m, while net earnings grew from £3.3m to £4.1m, an increase of 24 per cent on the previous year.
UK population growth fastest since the 1950s December 17, 2012 THE UK population has grown at its fastest pace since the post-war baby boom in the past decade, according to the 2011 census figures out yesterday. On census night, there were 63,181,775 people living in the United Kingdom, the Office for National Statistics said. The country has gained a net 4.1m people, or almost seven [...]
First-timers to be kept locked out of 2013 mortgage market December 17, 2012 MORTGAGE lenders will focus their attention on the safer, low loan-to-value (LTV) end of the credit market during 2013, research showed yesterday. Lenders will conserve their precious capital and boost their lending in the remortgage market, which will grow a quarter from around 310,000 transactions this year to almost 400,000 next year, according to data [...]
Eurozone trade surplus rises December 17, 2012 The Eurozone achieved a €10.2bn goods trade surplus with the rest of the world in October, compared to €9.5bn the previous month, according to official statistics body Eurostat. Seasonally adjusted exports fell 1.4 per cent while imports rose 0.6 per cent. For the 27-member EU, its goods trade deficit narrowed slightly to €12.5bn. Meanwhile, hourly [...]
Draghi defends banking union December 17, 2012 New European Central Bank powers to oversee Eurozone banks will help restore confidence in the sector and revive interbank lending, boss Mario Draghi said yesterday. “The single supervisory mechanism will contribute to restoring confidence in the banking sector across the euro area,” he said. The new body will automatically oversee around 150 of the currency [...]
IMF deadline passes for Argentina December 17, 2012 A deadline for the Argentinian government to provide more accurate economic data to the International Monetary Fund (IMF) passed last night, with the country facing the prospect of being expelled from the group. IMF chief Christine Lagarde had warned in September that Argentina could be show a “red card” by the global support mechanism if [...]
