Editor's Picks
Comment: Debenhams may have more upside in store
Thursday 22 Oct 2009
Department store Debenhams has given itself a makeover and appears well-suited to these straitened times.
King and the Government's war of words
Thursday 22 Oct 2009
It seems that Mervyn King has stirred up a hornets' nest by suggesting that banks that are “too big to fail” should be broken up to prevent another financial crisis.
Bailed-out US firms ordered to cut pay
Thursday 22 Oct 2009
US companies which were bailed-out by the government during the financial crisis will be forced to drastically cut the pay packages of their top executives, according to press reports.
Pub groups fizz on competition ruling
Thursday 22 Oct 2009
Shares in tenanted pub groups Enterprise Inns and Punch Taverns soared after the Office of Fair Trading (OFT) rejected a complaint made in July by the Campaign for Real Ale (CAMRA) blaming the system which forces pub tenants to buy beer from their landlords for the high cost of a pint.
National Express profit to miss forecasts
Thursday 22 Oct 2009
Bus and rail group National Express, which is facing a merger approach from rival Stagecoach, warned that full year pre-tax profits will be ‘slightly’ below previous expectations.
Postal workers begin two-day strike
Thursday 22 Oct 2009
A two-day national postal strike has begun this morning after the union and Royal Mail failed to sort out their differences. Up to 42,000 mail centre staff and drivers have launched a 24-hour strike on Thursday, with around 78,000 delivery and collection workers set to take action on Friday. There could be more strikes in the coming weeks
Government rejects King's bank splits idea
Wednesday 21 Oct 2009
Suggestions from Mervyn King, the Governor of the Bank of England, that big banks should split their businesses into utility and investment arms have been given short shrift by the big guns of the Labour Party, Gordon Brown and Alistair Darling.
Morgan Stanley back in the black
Wednesday 21 Oct 2009
New York-based investment bank Morgan Stanley reported its first quarterly profit in a year after three consecutive quarters of losses.
Banks to trial 'living wills' this year
Wednesday 21 Oct 2009
A small number of major UK banking groups will start this year to prepare 'living wills' that set out a wind down plan for their business in the event of their failure, the FSA revealed today.
Pearson top of the class
Tuesday 20 Oct 2009
Some areas of the US education publishing market have been squeezed by a fall in spending in the wake of the economic downturn, so it is just as well for Pearson that it has a stranglehold over the market.
Crude oil hits $80 a barrel
Tuesday 20 Oct 2009
Crude oil prices have fallen back slightly after hitting a one-year high above $80 a barrel.
Cadbury ups forecasts as bid deadline approaches
Tuesday 20 Oct 2009
Cadbury has beefed up its defence against the bid intentions of Kraft by upping its targets for both sales and profits after strong growth recently in the UK, Ireland and emerging markets. "We are increasing our guidance for revenue growth to be around the middle of our 4-6% goal range for the year as a whole
Public borrowing hits record high
Tuesday 20 Oct 2009
Britain’s public finances suffered their worst six months on record between April and September, according to official figures out today.
Barclays drops on Qatari share sale
Tuesday 20 Oct 2009
Barclays dropped almost 5% after Qatar's sovereign wealth fund said it was selling half of the warrants it holds in the bank.
BAA confirms Gatwick sale
Tuesday 20 Oct 2009
Airport owner BAA has confirmed the sale Gatwick Airport to Global Infrastructure Partners, the owner of London's City Airport, for £1.51bn.
US close: Apple surges past forecasts
Monday 19 Oct 2009
Apple rounded off another bumper day for Wall Street as record sales of Macintosh computers and iPhones sent its quarterly figures way past market forecasts.
Punters on top at William Hill
Monday 19 Oct 2009
Bookmaker William Hill suffered from the absence of draws in the Premier League and an unusual run of horse racing results in the last three months despite good volumes of business.
National Express takeover back on track
Monday 19 Oct 2009
Stagecoach’s proposal to make an offer for fellow bus and rail group National Express has sparked a mini-rally in the latter’s share price following last week’s collapse when a consortium withdrew its bid interest, but the shares are still way below their previous levels and the value implied in Stagecoach’s offer.
UK banks could face windfall tax
Monday 19 Oct 2009
Banks may have to pay a one-off windfall tax on profits under government plans to claw back some of the cash used to bail out of the financial system, weekend reports have claimed.
Pearson ups earnings estimate
Monday 19 Oct 2009
Education group and FT publisher Pearson has upped its estimate of full year earnings after trading better than expected in recent weeks. 'Pearson is trading ahead of expectations and we now expect full year adjusted earnings to be at or above 60p per share, assuming that the current exchange rate of £1:$1.64 prevails in the fourth quarter,' it said in a nine-month trading update.
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