Banks still failing to lend to small businesses October 28, 2011 British small businesses suffered a dramatic drop in successful loan applications between 2007 and 2010. Successful applications from the fast-growing young companies known as gazelles fell the most, dropping from 90 per cent to just 50 per cent in 2010, according to the Office for National Statistics. The decrease in funding for these companies will [...]
Shire reports strong third quarter growth October 28, 2011 Drug company Shire has reported third quarter growth of 24 per cent, boosted by demand for its hyperactivity drugs and medicines for rare diseases. Britain’s third-largest pharmaceuticals company beat analysts’ predictions to record revenue of $1.09bn (£0.67bn) for the three months to September. Predicted full-year profit figures have been rising, and the company is confident [...]
Total’s profits rise on oil price increase October 28, 2011 French oil firm Total increased profits by 13 per cent in the three months to September. Higher prices and improved profitability in its refining business contributed to the rise. The company, France’s largest, expressed optimism for future growth after three major discoveries in the quarter in Azerbaijan, French Guyana and Norway. However, its underlying result [...]
Amazon tops customer satisfaction table October 28, 2011 Amazon has retained its crown as Britain’s favourite retailer in an annual consumer poll. Satisfaction with the company’s service even increased over the past year, according to the Nunwood Customer Experience 100 survey. Amazon beat off the challenge of second place John Lewis and third place Virgin Atlantic, which was marginally ahead of competitor Emirates. [...]
Transactions tax is “madness” says Boris October 28, 2011 Boris Johnson has demanded the EU’s proposed financial transactions tax be dropped, warning it would badly hit the European economy. The mayor of London has written to European Commission President José Manuel Barroso, protesting the tax would make European businesses uncompetitive and damage the continent’s jobs market. The proposals would see a levy of around [...]
Eurozone seeks bailout funds from China October 28, 2011 The head of the eurozone’s bailout fund has launched a bid to convince China to invest in a scheme to help rescue member countries facing debt crises. Klaus Regling said there were no formal negotiations and would be no deal now but met with Chinese leaders and broached the subject. It is thought China may [...]
Samsung overtakes Apple in smartphone market October 28, 2011 Samsung Electronics Co overtook Apple Inc as the world’s top smartphone maker in the July-September period with a 44 percent jump in shipments, and forecast strong sales in the current quarter in a clear warning to its rivals. Samsung only entered the smartphone market in earnest last year, but its sales have skyrocketed thanks to [...]
WPP cuts forecast but says margins improving October 28, 2011 WPP, the world’s largest advertising company, cut its outlook for the full year on Friday due to slowing growth in the US and concerns in the Eurozone, but reassured the market with signs of improving margins. Martin Sorrell’s WPP said preliminary forecasts for the full-year indicated like-for-like revenue growth of 5 percent, compared with a [...]
LONDON’S GIANTS FEEL FAN BACKLASH October 27, 2011 • Kroenke forced to defend Hill-Wood • Wenger identifies ‘fear’ and ‘discontent’ • Usmanov to remain frozen out by board• ARSENAL’S majority shareholder Stan Kroenke was forced to defend long-standing chairman Peter Hill-Wood during the club’s stormy AGM yesterday. The American tycoon had flown in from his homeland to address the 281 fans in attendance [...]
Wenger steals show as Stan breaks silence October 27, 2011 STAN KROENKE may have broken his long silence at yesterday’s AGM, but shareholders who expected to gain a clearer understanding of the American’s motives were left deeply unfulfilled. Eloquent, if laden with platitudes, yesterday’s first address may have been, but fans remain no closer to knowing whether his decision to acquire a majority shareholding in [...]
