Editor's Picks
Treasury eyes new tax regime for online gambling
Monday 18 Jul 2011
The UK Treasury says it will consider a new regulatory regime for online gambling. The move comes after the Department for Culture Media and Sport said last week it will require all websites offering gambling in the UK to have a Gambling Commission licence, as a consequence more firms will be liable for British tax.
US pre-open: Stocks set to fall
Monday 18 Jul 2011
Worries over the failure of US lawmakers to thrash out a deal on the country’s debt – not to mention the ongoing debt saga in Europe – are likely to send stocks lower in early dealings.
Roxi Petroleum wins Kazakhstan extension
Monday 18 Jul 2011
Kazakhstan’s Ministry of Oil and Gas has extended a contract allowing Roxi Petroleum, the Central Asian oil and gas company, to develop two wells in the country by two years to June 2013.
HTC bitten by Apple
Monday 18 Jul 2011
The Taiwanese mobile phone manufacturer HTC has lost the initial phase in a patent row with Apple over the technology it uses in its smartphones.
Confidence drops at UK small firms
Monday 18 Jul 2011
The UK's small firms have reported a big drop in sentiment during the three months to 30 June, according to new figures. The Federation of Small Businesses' (FSB) Voice of Small Business Index fell by 6.4 points to +0.3, from +6.7 in the first quarter. If the index registers zero it means there has been no change in confidence
Europe midday: Stress tests results disappoint, banks fall
Monday 18 Jul 2011
European markets continued to decline over the lunchtime period as the results of Friday’s stress tests on the continent’s banks were seen as too soft.
London midday: Stress test results cast shadow
Monday 18 Jul 2011
Stocks are firmly in the red after Friday’s European Banking stress tests. Eight European banks failed stress tests drawn up by the European Banking Authority (EBA). Five Spanish banks – Catalunya Caixa, Pastor, Unnim, Caja3 and CAM – and two from Greece – ATEbank and EFG Eurobank – were deemed not to be sufficiently healthy to withstand a banking crisis.
Premium tips: AstraZeneca, Rolls-Royce, ARM...
Monday 18 Jul 2011
Nomura reiterated its reduce rating and 2,400p target price on drugs giant AstraZeneca, after FDA briefing documents about the group’s dapagliflozin drug (diabetes treatment) indicated possible approvability but limited commercial potential. The drug was “not recommended for patients with moderate, severe and end-stage kidney impairment” (which represents around 30% of all diabetes patients).
Premium broker snap: UBS downgrades Rolls-Royce to sell
Monday 18 Jul 2011
UBS has downgraded power systems giant Rolls-Royce to sell, from neutral, after factoring in a significant reduction to offshore sales.
Frontera raises cash and ups sticks
Monday 18 Jul 2011
Independent oil and gas exploration and production company, Frontera Resources, said shareholders had given the thumbs up for a plan to raise funds and relocate the firm to the Cayman Islands.
Rockhopper drilling again near Falkland Islands
Monday 18 Jul 2011
Rockhopper Exploration, the firm hunting for oil off the coast of the Falkland Islands, has drilled a third “appraisal well” on the so-called Sea Lion feature on the south Atlantic sea bed.
Coms: it's good to talk on the iPad
Monday 18 Jul 2011
Shares in Coms, which provides internet telephony services, rocketed 60% after it announced the launch of its new service for Apple iPad users. The firm's VoIP (Voice over IP) telephone service enables iPad users to make and receive telephone calls over their internet connection. Apple has so far sold around 25m iPads, but none they are equipped with voice telephony capaiblity
Investors underwhelmed by Angel Biotech results
Monday 18 Jul 2011
Angel Biotechnology slumped 7% after the biopharmaceutical contract manufacturer reported a net loss for the six months to 30 June as investors, who rejoiced the company’s maiden profit last year, turned sour on the company.
Seeing machines sees shares soar
Monday 18 Jul 2011
Shares in technology firm Seeing Machines jumped 25% on Monday after it trumpeted the arrival of the world's first 3D laptop that requires no special glasses for watching movies or playing games in 3D.
Debenhams gets cheaper funding
Monday 18 Jul 2011
Debenhams, the FTSE 250 department store chain, has managed to refinance its credit facility at reduced interest rates. The £650m facility is made up of a £250m long term loan in addition to £400m in revolving credit and the deal will reduce the group's cash interest rate by 0.50% to around 4%. The lenders Barclays Capital,
SThree offers special divi as profit surges
Monday 18 Jul 2011
Staffing business SThree reported a 52% surge in pre-tax profit for the six months ended 29 May 2011 and has offered a special dividend of 11p. The group reported a robust first half performance as its markets improved. Pre-tax profit rose to £11.2m during the six months from £7.3m the year before. Revenue rose to £254.9m from £221.7m previously. Like for like gross profit was up 23%.
London open: Stocks stressed after banking tests
Monday 18 Jul 2011
Stocks have taken a bit of a tumble after the release of the results from banking stress tests after the close on Friday.
ITEM Club to cut UK GDP forecast for 2011
Monday 18 Jul 2011
ITEM Club, the economic forecasting group sponsored by consulting firmErnst & Young’s, will cut its U.K. economic growth forecasts for the second time this year, in a report to be issued today, as weak consumer spending and Europe’s sovereign-debt crisis cloud the outlook for the recovery, according to Bloomberg.
United Carpets rolls out 13% profit increase
Monday 18 Jul 2011
Carpet and flooring retailer United Carpets rolled out a 13% increase in annual pre-tax profit as total like for like sales fell by 1.4% in the first 15 weeks of the new financial year.
London pre-open: Slight falls expected
Monday 18 Jul 2011
Stocks look set to start the week lower on a fairly quiet day on the company news front.
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