Editor's Picks
IMF looking for new boss
Thursday 19 May 2011
Dominique Strauss-Kahn has resigned as managing director of the International Monetary Fund (IMF) to concentrate on fighting allegations that he sexually assaulted a New York hotel chamber maid last week. The 62-year-old Frenchman was arrested on May 14th and is currently in gaol at Rikers Island in New York, awaiting a bail hearing on Thursday. Strauss-Kahn denies the allegations.
Good trading over Easter for Marston's
Thursday 19 May 2011
Food sales continue to drive growth at brewing and pubs group Marston's, though drinkers are putting their hands in their pockets more often, too.
Intertek expects high single digit growth in 2011
Thursday 19 May 2011
Quality and safety services provider Intertek has seen organic revenue grow by 8% in the year so far, as the firm was able to offset a slower-than-expected performance in its Consumer Goods division.
Dairy Crest ekes out FY profit gain
Thursday 19 May 2011
A solid performance from its spreads and cheese businesses helped chilled foods firm Dairy Crest report a 5% increase in full year adjusted pre-tax profit as tough trading conditions in dairies continues.
Profits jump by a quarter at SABMiller
Thursday 19 May 2011
Brewing firm SABMiller has hailed an "excellent financial performance" for the year ended 31 March, as profits swelled by 24%, helped by strong growth in the emerging markets. As a result, the group hiked its full-year dividend by almost a fifth from 68 cents to 81 cents. SABMiller - famous for it Miller, Grolsch and Peroni lager brands - saw pre-tax profit jump from $2.93bn to $3.63bn.
US close: Markets get set for LinkedIn IPO
Wednesday 18 May 2011
Wall Street's benchmark indices closed higher on Wednesday as technology and energy stocks provided a boost.
US Midday: Oil moves up further, now trading 4% higher
Wednesday 18 May 2011
The main US equity benchmarks are still trading in the green (Dow Jones: +53, Nasdaq Comp.: +25, S&P 500: +9), with the energy sector pacing gains following the release of the latest Department of Energy oil statistics (DoE).
Hardy estimates disaster claims at £21m-£26m
Wednesday 18 May 2011
Specialist insurer and reinsurer Hardy Underwriting Bermuda saw a modest growth in premiums written in the first quarter.
Mothercare to close 110 UK stores
Wednesday 18 May 2011
Mother, baby and child retailer Mothercare revealed a whopping 23.4% drop in annual profit as it announced the closure of more than a quarter of its UK stores.
Land Securities sees continuing recovery
Wednesday 18 May 2011
Property giant Land Securities posted a sharp rise in profits and net asset value in the year to 31 March and predicted continued growth as the recovery proceeds. “We remain of the view that our markets are in recovery mode and we see particularly strong growth prospects in London over the next few years,” chief executive Francis Salway said.
French Connection still cautious about UK
Wednesday 18 May 2011
Sales in the first three months of the year rose 3.6% at fashion retailer French Connection after strength in its wholesale business outweighed weakness in its UK retail market. "Despite the strong growth achieved in the last few weeks, we remain cautious about the UK retail market in the remainder of the year," the group said.
UK still a concern for French Connection
Wednesday 18 May 2011
Sales in the first three months of the year rose 3.6% at fashion retailer French Connection after strength in its wholesale business outweighed weakness in its UK retail market.
Experian expects another year of good growth
Wednesday 18 May 2011
Credit checking outfit Experian met or exceeded all of its financial objectives in the fiscal year just finished, but warned that year on year comparatives get harder to beat in the first half of the current year.
Cineworld sales fall as 3D effect fades
Wednesday 18 May 2011
Revenues at Cineworld took a sharp dive in the 19 weeks to 12 May, though that was more due to a lack of major releases than the impact of tough economic conditions. Total revenues were down by 8.9% from the same period the previous year, when sales were boosted by the 3D films Avatar and Alice in Wonderland.
Babcock bullish as revenues rise
Tuesday 17 May 2011
Engineering support services group Babcock International hailed the ability of outsourced service providers to benefit from the government’s cost-cutting efforts as it posted a sharp rise in revenues.
UK roadblock on Manganese's return to profit
Tuesday 17 May 2011
Recovery play Manganese Bronze, maker of the iconic London taxi, is still hoping to return to profitability in 2011, despite continued tough trading conditions in the UK.
A sober time for the travel industry
Tuesday 17 May 2011
In 1841 the eponymous founder of Thomas Cook organised his first excursion; a twelve mile rail journey from Leicester, taking 500 passengers to a temperance meeting in Loughborough.
Testing times for Robert Wiseman
Tuesday 17 May 2011
In theory, it should be quite easy for suppliers of relatively inexpensive items such as milk to cope with higher input costs by raising their prices.
Governor's latest hint on interest rates
Tuesday 17 May 2011
The Governor of the Bank of England has added weight to expectations that there will be no interest rate rise until the end of the year. In a letter to the Chancellor, George Osborne, Mervyn King blamed stubbornly high inflation on the increase in the standard rate of VAT in January and higher energy and import prices.
Inflation jumps to 4.5% in April
Tuesday 17 May 2011
The Consumer Prices Index (CPI) went up to 4.5% in April, an increase of 0.5% on the month before. Air transport, alcohol and tobacco and gas were the most significant drivers behind the increase in annual inflation between March and April. The rise comes after a surprise fall in March and was bigger than most analysts expected.
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