Huhne backs troubled CCS plan October 25, 2011 ENERGY secretary Chris Huhne yesterday reinforced government support for the UK’s work on renewable energy projects, just a week after the future of the costly carbon capture and storage (CCS) scheme was thrown into doubt. Huhne yesterday signed a deal with Norway to cooperate on carbon capture and storage projects, as well as agreeing to [...]
No.10 tries to move on from EU rebellion October 25, 2011 THE GOVERNMENT tried to draw a line under a humiliating backbench rebellion over the EU yesterday, claiming it had already begun work on repatriating powers from Brussels back to the UK. David Cameron, the Prime Minister, was left politically wounded on Monday night after 81 of his backbenchers voted for a referendum on the EU in [...]
CITY VIEWS: HAS DAVID CAMERON BEEN DAMAGED BY THE TORY REBELLION? October 25, 2011 TIM KONIG | UBS “Yes. Any political leader that has that number of his own party rebelling against him opens himself up to reputational damage.” LEE ADGIE | TD SECURITIES “Potentially yes. The fact that so many Tory MPs defied him will always have a damaging effect. Over a matter of time it is possible [...]
BEAUTIFUL PEOPLE WORK HARD TO WED October 25, 2011 BACK ON the soapbox for BeautifulPeople.com, the dating service that axed 5,000 members for putting on weight last Christmas. The site has launched a “comedic” YouTube video (right) to defend its looksist agenda. “You can’t argue with millions of years of evolution,” the site’s managing director Greg Hodge told The Capitalist, speaking from an Los [...]
Reckitt boosted by emerging markets October 25, 2011 CONSUMER goods giant Reckitt Benckiser yesterday reported a rise in profits fuelled by its performance in emerging markets, but warned that it faces obstacles to growth. Reckitt, whose brands include Cillit Bang and Nurofen, said it was well positioned to achieve its 2011 targets of a 12 per cent rise in net revenue and a [...]
Cineworld sales in lift October 25, 2011 CINEMA chain Cineworld said it expected a promising line-up of films in the final quarter to offset weakness in the wider advertising market. The company reported a 0.9 per cent year-on-year increase in total revenues in an interim management statement covering the 42 weeks to 20 October. Box office revenues were up 1.4 per cent [...]
Foster’s board under fire as it predicts rising beer sales October 25, 2011 FOSTER’S Group, Australia’s largest brewer, said it expects beer sales to pick up again when the economy improves, fuelling small shareholder anger at the company’s capitulation to a $10.4bn (£6.5bn) takeover by global giant SABMiller. Foster’s executives were forced to defend the takeover before around 200 shareholders at the firm’s annual meeting, saying the deal [...]
Carpetright issues a fresh profit alert October 25, 2011 CARPETRIGHT yesterday said full year profits would be at the lower end of forecasts as it announced another fall in sales. The group, which has issued a string of profit warnings in recent months, said underlying pre-tax earnings for its full financial year would be towards the lower end of a forecast range of £11.8-£16.9m. [...]
COVENT GARDEN SOUP BRAND SOLD TO AMERICAN GROUP October 25, 2011 BRITISH food manufacturer the Daniels Group, which owns brands including New Covent Garden soups and Johnson’s fruit juices, has been sold to US group Hain Celestial for around $230m (£144m). Nasdaq-listed Hain, run by president and chief executive Irwin Simon (pictured), owns several brands in the UK, including Linda McCartney frozen vegetarian foods. In the US [...]
Volvo says Europe demand will slow October 25, 2011 TRUCKMAKER Volvo said it was preparing to cut output in anticipation of lower vehicle demand in Europe next year as a recovery in sales in the region runs out of steam. The group reported a third quarter operating profit of 5.8bn crowns (£553m), up from last year’s 4.9bn on recovering demand but undershooting a forecast [...]
