Morrisons tops FTSE despite profit decline as supermarket remains confident of second half bounce September 12, 2013 Supermarket Morrisons has seen its pre-tax profits drop from £440m to £344m in the half year to 4 August (release). The announcement also includes a 10 per cent decline in underlying profit to £401m. We anticipate an improvement in our sales performance during the second half and accordingly the Board believes the Group's performance for [...]
Privatisation of Royal Mail to begin in coming weeks September 12, 2013 The government has confirmed plans to privatise 497-year old Royal Mail. In "coming weeks" shares in Royal Mail will become available. 10 per cent of shares will be distributed to the Royal Mail's 150,000 employees, with the government retaining an as yet undecided share. More details and analysis on the liveblog.
Biggest privatisation in decades as Royal Mail float expected to raise £2.8-2.9bn in coming weeks September 12, 2013 The government has confirmed that it will now sell off Royal Mail "in coming weeks" as unions prepare strike action over what will be the biggest privatisation in decades. When offered to private hands on the London Stock Exchange, Royal Mail could go for as much as £3bn according to estimates. ETX Capital's spread suggests [...]
London investors feeling left out as Verizon’s sterling bond plans are scrapped September 11, 2013 Verizon's $49bn (£31bn) is already the largest investment grad corporate bond sale on record, dwarfing the former title spot (held by Apple's $17bn (£11bn) issuance). There's been such strong demand that Reuters reports that planned euro and sterling offerings have been scrapped. The final size was at the top end of the $45-$49 billion range [...]
Analysts think Apple has gone rotten: Three banks downgrade to neutral September 11, 2013 A disappointing reveal from tech giant Apple last night has seen analysts downgrade their buy recommendations in the company's stock to neutral. No surprises last night despite promises from chief executive officer Tim Cook in May last year that security was being ramped up. Crucially, Apple's budget iPhone 5C turned out to not be that [...]
Syria tensions ease allaying fears of oil price spikes September 11, 2013 Ishaq Siddiqi, market strategist, ETX Capital on the likelihood of US intervention in Syria and possible market reaction: Syria tensions ease considerably overnight as US President Obama in his speech acknowledges drumming support in Congress for a strike at Syria was hard found and has opted for diplomacy with Russia to disarm the Middle Eastern [...]
This is now a total employment recovery – and it brings Carney’s forward guidance into question September 11, 2013 The most encouraging news in today's jobs data is the confirmation that the shift from part-time to full-time employment is in full swing. From the peak of the crisis, full-time employment numbers have been crushed, with part-time jobs filling the void. Now we're seeing the pendulum swing back as the UK's economic recovery strengthens. The [...]
Unemployment falls to November 2012 lows September 11, 2013 UK unemployment has fallen unexpectedly to November 2012, according to new figures from the ONS. Down from 7.8 per cent to 7.7. per cent, analysts had expected the unemployment rate to stay flat in the three months to July. More details and analysis on the live blog.
UK unemployment falls unexpectedly with biggest claimant count drop since February 2009 September 11, 2013 Job data improvement in the UK -The headline unemployment rate has fallen from 7.8 per cent to 7.7 per cent in the three months to July, despite analysts anticipating no change. The claimant count rate drops from 4.3 per cent to 4.2 per cent in July. Again, no change was expected here. That change driven [...]
Chocolatier Thorntons returns to black two years into group turnaround September 11, 2013 Thorntons has swung back into profit, making £3.753m before tax in the 52 weeks ended 29 June (release). In the 53 weeks ended 30 June 2012 Thorntons saw pre-tax losses of £2.214m. Our retail reporter Kasmira Jefford on the group's efforts to overhaul itself: The Derbyshire-based group is two years into a three-year plan that [...]
