Here’s the real Plan B for Britain: We need a competition revolution May 14, 2012 NO ONE can dispute that the UK economy needs more growth. It seems that the coalition’s essential austerity measures are not enough. But despite its cheerleaders, the usual Plan B, based on debt-financed infrastructure spending, won’t make any difference to growth – while denting confidence. One such plan suggested £30bn in spending. Over three years, [...]
BT hikes payout as profits grow on cost cut plan May 10, 2012 BT yesterday announced a full year dividend hike of 12 per cent and said its shareholder payout will grow by an annual 10 to 15 per cent over the next three years. The country’s leading telecoms company posted a full year adjusted pre-tax profit of £2.42bn, an increase of 16 per cent, as operating profit [...]
Pesky regulators dash hope of top line growth May 10, 2012 IT SHOULD come as no surprise that BT chief Ian Livingston, a well-respected former bean counter, can cut costs. Operating costs fell by six per cent last year, enabling the group to grow earnings before interest, tax, depreciation and amortisation (ebitda) by three per cent to £6.1bn. That means the company has met its £6bn [...]
FTSE lurches higher after a volatile day of bank and commodity swings May 10, 2012 A BOUNCE back by risk-sensitive banks and commodity stocks hauled Britain’s stock index higher yesterday after a roller-coaster session, with worries over the global growth outlook easing following benign US jobless claims. At the close, the FTSE 100 index was up 13.90 points, or 0.3 per cent at 5,543.95, holding above key technical support at [...]
LONDON REPORT May 7, 2012 THE bank holiday began a short trading week in London that is nevertheless crammed full of corporate results, as well as the much-anticipated Bank rate decision. Results are expected today from Hiscox, HSBC and Tui. Tomorrow’s announcements are set to come from EasyJet, Inmarsat, ITV, Sage, Glencore, ICH Group, Balfour Beatty, Prudential, Carphone Warehouse, Weir [...]
THE TIPSTER | BT having difficulty dialling profits May 7, 2012 Concerns about its substantial pension deficit have hobbled BT’s rally in recent days, with the shares making little progress in a choppy market. Still, its cash generation remains attractive, as does the possibility of further dividend growth. IG’s price on BT is 216p-217p. Easyjet’s earnings release tomorrow will hopefully show that the airline carrier’s performance [...]
SUNTORY WHISKY AND CIGAR TASTING COMPETITION April 27, 2012 WIN A SUNTORY WHISKY AND CIGAR TASTING EVENING AT EIGHT CLUB, IN THE HEART OF THE CITY Suntory and Eight Club are offering five pairs of tickets to an exclusive whisky and cigar sampling evening conducted by Zoran Peric and Przemek Zaneap at the club’s Moorgate premises. Address: 1 Dysart Street, London EC2 2BX Tel: [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 26, 2012 FINANCIAL TIMES NEW SFO BOSS VOWS TO STAY RELEVANT The incoming director of the Serious Fraud Office has promised to pursue a more aggressive crime-fighting strategy, saying he will investigate “significant strategic targets” suspected of committing the most complex financial crime and overseas corruption. INVESTORS TURN HEAT ON MAN CHIEF Leading shareholders of Man Group, [...]
Vodafone agrees to hand over £1bn for ailing CWW in £1bn buyout April 23, 2012 VODAFONE faces a possible shareholder rebellion over its £1.04bn bid for Cable & Wireless Worldwide after the ailing telecoms company’s biggest investor expressed disappointment at the offer. Orbis, which holds a 19 per cent stake in CWW, refused to back Vodafone’s offer of 38p per share. A spokesperson for Orbis said: “With the transaction being [...]
Carcass of a failed tech firm may be worth more than you thought April 23, 2012 JUST three months ago, everyone thought Cable & Wireless Worldwide was a busted flush. After de-merging from the C&W mobile business in 2010, it was forced to make three profit warnings and went through the same number of chief executives. A roster of impressive blue-chip clients couldn’t hide the fact it lacked the scale and [...]