Editor's Picks
AstraZeneca in generics deal with Torrent
Thursday 11 Mar 2010
Drug giant AstraZeneca today announced a license and supply agreement with Indian peer Torrent Pharmaceuticals.
Wm Morrison profits jump on strong sales
Thursday 11 Mar 2010
Supermarket group Wm Morrison saw a sharp jump in profits in the year to 31 January as its value offering continued to attract customers during tough times.
BP pays $7bn for exploration assets
Thursday 11 Mar 2010
BP has beefed up its exploration operations with the acquisition of assets in Brazil, Azerbaijan and the Gulf of Mexico. It is paying Devon Energy $7bn for ten exploration blocks in Brazil, seven of which are in the exciting Campos basin, exploration prospects in the US Gulf of Mexico and an interest in the BP-operated Azeri-Chirag-Gunashli (ACG) development in the Caspian Sea, Azerbaijan
Tullow Oil cheered by pipeline
Wednesday 10 Mar 2010
Things have been tough lately for big oil companies such as BP and Shell.
Ex-ITV chief to chair EMI
Wednesday 10 Mar 2010
Troubled record company EMI has made former ITV boss Charles Allen its new chairman and announced the departure of its chief executive after just 18 months.
Premium broker tips: JPM names property picks
Wednesday 10 Mar 2010
Companies covered today include: Big Yellow, Grainger, Great Portland, Helical Bar, Land Securities, Liberty, Taylor Wimpey, Intertek
UK factory output takes unexpected tumble
Wednesday 10 Mar 2010
Britain’s manufacturers had it tough in January as the awful weather contributed to the first fall in output for five months. Production fell 0.9% at the start of 2009, according to the Office for National Statistics, confounding economists who’d predicted 0.2% growth. It last fell in August. The year-on-year rise of 0.2% was much less than predicted, but was the first increase since March 2008
Tullett Prebon in bid talks
Wednesday 10 Mar 2010
Shares in derivatives broker Tullett Prebon leapt ahead as it confirmed it has been approached over a possible offer for the company.
Northern Rock cuts losses but arrears climb
Wednesday 10 Mar 2010
State-owned mortgage lender Northern Rock cut losses sharply in 2009, its last results before it split into its good half – Northern Rock PLC – and bad half - Northern Rock Asset Management (NRAM) - on 1 January, but arrears rose again. The bank reduced losses to £257m, down from £1.36bn in 2008 and swung into the black in the second half of the year.
Inchcape issues cautious outlook
Wednesday 10 Mar 2010
Car dealer Inchcape said 2009 profit fell less than expected but on a cautionary note, it warned market conditions in 2010 are expected to remain challenging.
Northern Rock cuts losses but arrears climb
Wednesday 10 Mar 2010
State-owned mortgage lender Northern Rock cut losses sharply in 2009, its last results before it split into its good half – Northern Rock PLC – and bad half - Northern Rock Asset Management (NRAM) - on 1 January, but arrears rose again.
IG posts 11% rise in quarterly revenue
Wednesday 10 Mar 2010
Spread bet firm IG Group reported a 11% rise in quarterly revenue and said it is well positioned for further growth. Total revenue for the three months ended 28 February was approximately £69m compared with £62m in the corresponding quarter last year. However, IG said the strong equity market rally, which helped stimulate client activity through much of 2009,
Rok rolls out cautious vision
Tuesday 09 Mar 2010
Rok describes itself as the nation’s local builder, but luckily for the firm, it has exposure to the social housing and maintenance sectors as well as new building, leaving it well placed to weather the housing downturn.
Npower follows rivals in gas price cut
Tuesday 09 Mar 2010
Npower has become the latest energy supplier to cut gas prices, trimming them by 7% to save two million customers about £50 a year.
UK trade deficit at 17-month high
Tuesday 09 Mar 2010
An increase in Britain’s trade deficit in January surprised the market Tuesday, sending the pound tumbling. Data from the Office for National Statistics showed the UK’s deficit on trade in goods widened to £7.99bn from £7.01bn the previous month, about £1bn more than economists had predicted. A £1.4bn drop in exports was to blame.
Tristel still in good health
Monday 08 Mar 2010
The drive to rid UK hospitals of nasty infections such as clostridium difficile has been an important revenue driver for disinfectant supplier Tristel, but it is international growth that is the most exciting prospect for the company.
EADS and Northrop drop US air tanker bid
Monday 08 Mar 2010
Airbus parent EADS and its US partner Northrop Grumman have pulled out of bidding for a $35bn contract to build refuelling tankers for the US air force. The news came as EADS posted a €763m net lossfor last year compared with a profit of €1.57bn in 2008. Revenues fell slightly to €42.8bn from €43.3bn.
Premium broker tips: L&G offers 'good value'
Monday 08 Mar 2010
Legal & General offers investors good earnings momentum and value, says Nomura ahead of the insurer’s full-year figures later this month.
Retail sales warm up in February
Monday 08 Mar 2010
Retail sales recovered in February as the freeze that affected January eased, but the British Retail Consortium still said the figures were 'not strong'.
AstraZeneca suffers cancer treatment set-back
Monday 08 Mar 2010
Drug giant AstraZeneca said its lung cancer treatment Recentin failed to meet the primary endpoint in a clinical study to compare it with rival treatment Avastin.
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