Editor's Picks
Afren targeting 180% increase in 2011 output
Tuesday 29 Mar 2011
Africa-focused oil and gas firm Afren notched up its first full year of post-tax profit in 2010.
Wolseley restarts dividends as markets stabilise
Tuesday 29 Mar 2011
Building and plumbing supplies giant Wolseley bounced back into profit and reinstated its dividend as its core markets in the Europe and the US both stabilised.
Japan earthquake hits Man's AHL fund
Tuesday 29 Mar 2011
Hedge fund giant Man again need the help of recent acquisition GLG as market uncertainty following the earthquake in Japan took its toll on its core AHL fund. Funds under management over the past three months edged up to $69bn from $68.6bn at December, though AHL’s performance “turned sharply down with markets after the Japanese earthquake but has since partially recovered”.
Aberdeen Asset reports net inflows for 2011
Monday 28 Mar 2011
Fund manager Aberdeen Asset Management saw net inflows in the first two months of 2011, though assets under management are down by £7.1bn following the recent slump in shares prices.
B2B lifts Daily Mail as regionals suffer
Monday 28 Mar 2011
Growth in its business to business arm helped lift Daily Mail Group’s underlying revenues by 5% over the past five months, though it was another tough period for regional paper division Northcliffe.
Lamprell shines in 2010
Monday 28 Mar 2011
2010 was a year of strong recovery for Lamprell, the provider of engineering services to the international oil and gas industry, with the strength of the oil price contributing to unprecedented levels of enquiries.
Astra raises guidance after tax settlement
Monday 28 Mar 2011
A 13-year tax wrangle between the US and the UK involving drugs giant AstraZeneca has been resolved, resulting in a substantially lower tax rate for Astra in the current financial year. As a consequence, Astra has lifted its core earnings per share guidance for fiscal 2011 to $6.90 - $7.20 from $6.45 - $6.75 previously.
HMV confirms Waterstone's sale
Friday 25 Mar 2011
HMV, the struggling entertainment media retailer, has confirmed press speculation that it looking to offload its Waterstone’s and HMV Canada chains.“There can be no certainty that any transaction will be concluded. The board also confirms that no discussions are taking place with respect to an offer for the group,” the statement said.
Ferrari float may be worth €5bn
Thursday 24 Mar 2011
The talk Friday is that sportscar maker Ferrari could be worth up to €5bn (£4.4bn) if it decides to float later this year.
Sunday tips round-up: Smith & Nephew, RPC, Ferrexpo...
Thursday 24 Mar 2011
Last week, BlackRock – the world's largest asset management firm – increased its position in medical device group Smith & Nephew to almost 45m shares, representing 5.02% of the company, good news for a company consistently at the centre of takeover speculation.
Budget tax hike has North Sea explorers on skids
Thursday 24 Mar 2011
Oil companies are still reeling from yesterday’s Budget decision to increase the tax paid on North Sea oil and gas production to subsidise a 1p a litre cut in fuel duty. North Sea focused oil producer Enquest slumped on the news and is down again today. Encore Oil suffered a less dramatic post-Budget dive, but remains in the red Thursday.
IMPs puffing along steadily
Thursday 24 Mar 2011
Tobacco group Imperial (IMPs) said underlying first half tobacco net revenues are expected to increase by around 2%, as anticipated.
DfT reveals franchise runners & riders
Thursday 24 Mar 2011
Rail and bus operators are rushing out statements celebrating being on the shortlists for the east and west coast UK rail franchises.
Kingfisher matches forecasts
Thursday 24 Mar 2011
Do-it-yourself retailer Kingfisher built profits by 19% last year, pretty much in line with market expectations. The B&Q owner made £671m in the year ended 29 January, up from £566m last time. The increase was 22.5% when adjusted for one-off items. Sales fell 0.5% to £10.45bn, in line, but rose 0.5% at constant currency. They dropped 0.9% on a like for like basis.
RBS sells Spanish property loans
Wednesday 23 Mar 2011
Royal Bank of Scotland (RBS) has agreed to sell a portfolio of its commercial real estate loans and assets to Perella Weinberg Real Estate Fund I LP.
Budget attempts to simplify taxes
Wednesday 23 Mar 2011
The Chancellor has confirmed speculation that income tax and National Insurance contributions (NICs) will merge in order to “simplify taxes”, but has warned that this “historic step” may not bear fruit for a few years.
Good news for EIS and VCTs
Wednesday 23 Mar 2011
Today’s Budget has provided good news for Enterprise Investment Scheme and Venture Capital Trust (VCT) investors and, just as importantly, small companies that could benefit from additional investment.
Government acts to cap surging petrol prices
Wednesday 23 Mar 2011
The Chancellor of the Exchequer, George Osborne, announced that he will cut fuel duty and introduce a host of measures to steady the recent surge in petrol prices. In his 2011 budget statement on Wednesday, Osborne revealed that in recognition of high current oil prices, fuel duty will be reduced by 1p per litre from 18.00pm later today.The government will abolish the ‘fuel duty escalator’ – initially introduced by the previous Labour government – which adds an extra 1p on top of inflation every year, and replace it with a ‘fair fuel stabiliser’.
Budget preview: Leaving on a jet plane ... or not
Tuesday 22 Mar 2011
For his second Budget speech Chancellor George Osborne has promised a finance bill that is “unashamedly pro-growth, pro-enterprise and pro-aspiration,” as he seeks to move the UK economy from rescue mode to reform mode.
Budget preview: VCTs and small businesses
Tuesday 22 Mar 2011
Small companies and investors alike will be looking out for what George Osborne decides to do with Venture Capital Trusts (VCTs) and the Enterprise Investment Scheme (EIS).
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