Editor's Picks
Sportingbet profit surges, reinstates divi
Tuesday 06 Oct 2009
Online bookmaker Sportingbet posted a surge in annual pre-tax profit after strong demand from Europe and said the new financial year has started well.
Sainsbury's like-for-like sales up 4.6%
Tuesday 06 Oct 2009
Supermarket Sainsbury’s posted a 4.6% rise in like for like sales excluding fuel in the quarter to October 3 as shoppers continued flocking to the store amid tough economic times. Excluding the impact of the VAT cut, like-for-like sales were up by 5.4% in the quarter, the second of the company’s financial year.
Tesco steps up banking ambitions
Monday 05 Oct 2009
Tesco, the world’s third biggest retailer, not only announced net half year profits in excess of £1bn and a 9% dividend hike today, it also gave an update on its plans to add banking to its money making machine.
UK services sector puts on growth spurt
Monday 05 Oct 2009
The UK service sector expanded faster than expected in September, figures from the Chartered Institute of Purchasing & Supply (CIPS) and Markit Economics revealed. The purchasing managers' index for September rose to 55.3 from 54.1 in August. It’s the fifth month in a row that the index has risen and the performance was better than the rise to 54.5 predicted by analysts
Sainsbury’s and Tesco battle it out
Monday 05 Oct 2009
Sainsbury’s today reported better like-for-like sales growth figures than its bigger rival Tesco unveiled yesterday, but the supermarket chain cautioned that its growth rate is set to slow.
Taxi to the terminal zone
Saturday 03 Oct 2009
Manganese Bronze is the UK’s largest publicly quoted car manufacturer but, given the history of the UK car industry, it should not come as a surprise that the maker of the iconic black taxi is struggling for survival.
Rights issue trend setters reward investors
Friday 02 Oct 2009
So, the housebuilders are after extra cash from shareholders. Barratt and Redrow have revealed their hand, launching rights issues worth £870m to strengthen their balance sheets and take advantage of acquisition opportunities. Investors might feel a bit flush, having enjoyed one of the most lucrative stock market rallies in history.
Monday newspaper round-up: BAE Systems, HSBC, Royal Bank of Scotland
Friday 02 Oct 2009
BAE Systems is prepared to settle the Serious Fraud Office’s (SFO) six-year investigation into allegations of bribery in Africa and Eastern Europe, but will not do so “at any cost”.
Construction sector deteriorates
Friday 02 Oct 2009
Britain’s construction industry shrank for the 19th month in a row in September, with the pace of decline actually quickening, figures revealed Friday.
Markets resistant to bad news
Friday 02 Oct 2009
Footsie has paused for thought after its record breaking quarter following disappointing US jobs data, but it may be too early to call the end of the recent record run just yet.
Week Ahead: Tesco, Rank, BoE rate decision
Friday 02 Oct 2009
UK supermarket giant Tesco issues interim results on Tuesday which will be complicated by the inclusion for the first time of Tesco Personal Finance as a consolidated entity.
New over-50s ISA rules come into force
Friday 02 Oct 2009
Older savers have seen their ISA limit raised to £10,200, of which £5,100 can be held in cash and the rest in stocks and shares.
House prices continue recovery in quiet market
Friday 02 Oct 2009
UK house prices rose for the fifth month in a row in September, according to the Nationwide Building Society. The building society said the average price of a UK home rose last month to £161,816 from £160,224, a rise of 0.9%. UK house prices are now virtually back to where they were a year ago, the Nationwide said.
Domino's Pizza to exceed expectations
Thursday 01 Oct 2009
Concerns that the hot summer might have slowed the growth of Domino’s Pizza proved unfounded as the company boasted of an exceptionally strong third quarter.
Aviva confirms £470m fund payout
Thursday 01 Oct 2009
Insurer Aviva confirmed today it has completed the reattribution of the ‘inherited estate’ in its CGNU and CULAC with-profit funds worth £470m to policyholders.
BAE faces court on bribery charge
Thursday 01 Oct 2009
BAE Systems could end up in court after the Serious Fraud Office (SFO) confirmed it is seeking the Attorney General’s consent to prosecute the defence contractor over allegations of bribery. The SFO is to ask Baroness Scotland if it can charge the UK blue chip with ‘offences relating to overseas corruption’
British Airways soars in best ever quarter for Footsie
Wednesday 30 Sep 2009
Any doubts that this is a bull-market have been quashed by the FTSE 100 putting in its best ever quarterly performance since the index’s inception in 1984. The FTSE 100 was sitting 20.82% higher at the end of September than at the end of June. In points terms, the index has put on 884.69 points, topping the 815.27 (14.9%) points it put on in the final quarter of 1999.
UK banks agree to limits on bonuses
Wednesday 30 Sep 2009
The five biggest banks in Britain will enforce the limits on bonuses agreed by world leaders at the G20 summit in Pittsburgh last week, UK chancellor Alistair Darling said today.
Marks & Spencer sales beat expectations
Wednesday 30 Sep 2009
Sales in the quarter to 26 September came in better than expected at fashion and food retailer Marks & Spencer, suggesting consumer confidence may be creeping back.The High Street bellwether posted a 0.5% fall in like-for-like sales. Chairman Sir Stuart Rose said consumer confidence had reached the bottom though he remains cautious on the company’s outlook and expects 2010 to be a tough year.
Kraft set deadline for Cadbury bid
Wednesday 30 Sep 2009
The Takeover Panel has set a deadline for US foods group Kraft to make a formal deadline for UK confectionery and gum company Cadbury.
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