Editor's Picks
First annual increase in house prices since March '08
Friday 30 Oct 2009
UK house prices rose for the sixth consecutive month in October and are now 2% higher than they were a year ago. The Nationwide said the price of a typical house rose by 0.4%, on a seasonally adjusted basis, this month to £162,038. It increased 0.9% in September. That pushed the year on year change in house prices into positive territory for the first time in 19 months
First annual increase in house prices since March '08
Friday 30 Oct 2009
The UK economy may still be stuck in a recession but the housing market is at last showing signs of life, according to the latest survey on house prices from the nation’s biggest building society, the Nationwide.
F&C assets up 12.3%, cautious outlook
Friday 30 Oct 2009
F&C Asset Management’s third quarter got a lift from surging stock markets and favourable currency movements, sending assets under management up 12.3% during the period.
Consumer confidence highest in 21 months
Friday 30 Oct 2009
UK consumers are more confident now than at any time in the last 21 months, according to a survey released Friday.
WPP sees higher profits in second half
Friday 30 Oct 2009
Advertising giant WPP expects the second half to show a marked improvement in profitability and said overall conditions are "less worse". In the third quarter reported revenues rose by 16.7% to £2bn. Revenues, in constant currencies, were up 6.7%. Like-for-like revenue growth was down 8.7%, a slight increase on the first half's decline of 8.3%, but well below the second quarter's decline of 10.5%
Astra’s stars will wane
Thursday 29 Oct 2009
AstraZeneca impressed the market with better-than-expected third quarter sales and lifted its earnings estimates for the full year, but beyond that the Anglo-Swedish drugmaker could be set for a severe comedown.
Mortgage lender guilty of 'serious failings'
Thursday 29 Oct 2009
Mortgage lender GMAC RFC has been fined £2.8m by the City regulator and ordered to refund £7.7m to 46,000 mortgage customers for failing to treat customers fairly.
Lloyds mulls capital raising plans
Thursday 29 Oct 2009
Lloyds Banking has confirmed that it is in advanced discussions with UK authorities regarding alternatives to entering the state insurance scheme for toxic debt. The part-nationalised lender is considering raising cash via a rights issue and debt swap as an alternative to participating in the Government Asset Protection Scheme (GAPS). Any cash call is expected to be fully underwritten, it added.
Mortgage approvals hit 18-month high
Thursday 29 Oct 2009
UK mortgage approvals for house purchase hit a 18-month high in September, according to new figures out today.
National Express ends Stagecoach talks
Thursday 29 Oct 2009
Hard-up bus and train group National Express has ended all takeover discussions with rival Stagecoach in order to focus on completing an equity fundraising by the end of this year.
Shell profit plunges 73%
Thursday 29 Oct 2009
The sharp decline in oil and gas prices from last year's record highs sent Royal Dutch Shell’s third quarter earnings crashing more than two thirds, and it sees little to cheer in the short term. Earnings for the three months to the end of September, on a current cost of supplies (CCS) basis, fell to just $3bn from $10.9bn a year ago. They were down 68% to $8.6bn for the nine months
Glaxo needs more than shots in the arm
Wednesday 28 Oct 2009
With pharmaceutical stocks, investors should be more concerned with long-term health than quick fixes.
Swinton fined and told to refund customers
Wednesday 28 Oct 2009
Insurance broker Swinton has been fined £770,000 and told it must offer refunds to 350,000 customers after the City regulator found “serious failings” in their sales of single premium payment protection insurance (PPI).
Prudential sales slip hurts
Wednesday 28 Oct 2009
Prudential took a tumble Wednesday as a dive in UK business sent group insurance sales down 9% during the third quarter.
House prices continue upward trend
Wednesday 28 Oct 2009
Most parts of England and Wales enjoyed further increases in house prices in September, up for the fifth month in a row.
Emerging markets drive Glaxo sales growth
Wednesday 28 Oct 2009
Strong sales in emerging markets helped drug giant GlaxoSmithKline offset US weakness to post a rise in revenues in the third quarter.
EU approves Northern Rock split
Wednesday 28 Oct 2009
The European Commission has approved plans to break up Northern Rock into a ‘good’ and a ‘bad bank’. The good part will include its branch network, its good loans and ongoing mortgage business, while the bad part will hold the remaining toxic assets and will be wound down over time. The British government is expected to sell the viable part of Northern Rock ahead of next year's general election.
US strength boosts Prudential's Q3
Wednesday 28 Oct 2009
Prudential lifted group-wide retail sales by 10% to £699m in the third quarter thanks largely to a surge in business in the US.
BG profit slashed as prices slump
Wednesday 28 Oct 2009
Much lower oil prices have sent third quarter profits diving at BG, although the decline was very much expected and the oil giant remains upbeat about prospects.
EU to approve Northern Rock sale, reports
Wednesday 28 Oct 2009
The European Commission is expected to approve plans to break up and sell Northern Rock, according to press reports. The government hopes to sell the viable part of Northern Rock ahead of next year's general election. A British Government source is quoted as saying that ministers are ‘determined’ to see more competition in the market
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