Editor's Picks
Sales growth slows at Sainsbury's
Tuesday 22 Mar 2011
Supermarket giant Sainsbury’s grew like for like sales by slightly less than expected during the fourth quarter following a widely-predicted slowdown since Christmas. Like for like sales excluding fuel but including VAT rose 1% in the 10 weeks to 19 March compared with 3.6% in the third quarter and the 1.5% predicted by analysts at Nomura.
UK inflation rises to 4.4% in February
Tuesday 22 Mar 2011
UK annual inflation rose faster than predicted in February, as surging utility bills drove up living costs.
Osborne hemmed in by debt and economy
Tuesday 22 Mar 2011
Chancellor of the exchequer George Osborne is not expected to announce sweeping changes in his 2011 Budget.
Another epic find for Beowulf
Tuesday 22 Mar 2011
Beowulf Mining pulled out of its recent share price slump after releasing assay results for the first 10 drill holes on its Kallak South iron ore project in Sweden.
Creditors back JJB
Tuesday 22 Mar 2011
Investors who piled into the shares of troubled sportswear retailer JJB Sports ahead of the vote on the company’s proposed restructuring called the outcome correctly, as creditors backed the company’s plans. JJB said the CVA (Company Voluntary Arrangement) proposal was approved without modification by a majority of more than 75% in value of the unsecured creditors.
Rolls-Royce bags $200m Turkish order
Tuesday 22 Mar 2011
Turkish Airlines has signed a $200m order for Rolls-Royce’s flagship Trent 700 engines to power three Airbus A330 freighters.
Petropavlovsk reserves up a third
Tuesday 22 Mar 2011
An extensive exploration programme in 2010 has hauled gold miner Petropavlovsk’s proven and probable reserves up by 36%.
Ofcom kicks off 4G auction
Tuesday 22 Mar 2011
Telecoms regulator Ofcom has started the ball rolling on the auction of bandwidth for the next generation of smart 4G mobile phones. The regulator said the auction for space the two spectrum bands - 800 MHz and 2.6 GHz – will begin in the first quarter of 2012 with strict safeguards to stop any one or two firms dominating the sale.
Rockhopper rockets on 'crunch well' success
Monday 21 Mar 2011
Falkland Islands oil explorer Rockhopper is up more than a third Monday after it said success at its 14/10-4 appraisal well makes it “highly likely” that the Sea Lion field will prove commercially viable.
Housing stuck in doldrums says Rightmove
Monday 21 Mar 2011
Asking prices for houses in England and Wales rose last month according to online estate agent Rightmove, though most of the activity is centred on the top end of the market
AIG predicts huge Japan losses
Monday 21 Mar 2011
US insurance giant AIG's bill for the damage caused by the Japanese earthquake and subsequent tsunami will be at least $700m, but could soar much higher once the full extent of the damage to people's dwellings becomes known.
Gem confirms talks with Canada's Lucara
Monday 21 Mar 2011
Global diamond producer Gem Diamonds has confirmed press speculation that it is in preliminary merger talks with TSX Venture Exchange-listed miner Lucara Diamond. Should any merger take place it is likely that any transaction would be classed as a reverse takeover under UK listing rules because of the relative ratio of current published reserves of the two companies.
EBA outlines stress test proposals
Friday 18 Mar 2011
The European Banking Authority (EBA) has published proposals for its EU-wide banking stress test that will cover more than 65% of the EU banking system’s total assets.
N&P in merger talks with Yorkshire
Friday 18 Mar 2011
Norwich and Peterborough Building Society (N&P) is discussing a merger with Yorkshire Building Society.The deal is subject to due diligence and the satisfaction of certain conditions. The due diligence will take a number of weeks to complete. The merger requires the approval of N&P savers and borrowers and confirmation by the FSA.
Government to outline attack on red tape
Friday 18 Mar 2011
Vince Cable’s speech outlining how he’ll cut red tape and regulation for small firms has been cancelled after the business secretary was called to an emergency meeting to discuss Libya.
Oil price climbs after Libya no-fly zone vote
Friday 18 Mar 2011
Oil prices rose again Friday after Britain and other countries agreed to take military action to help anti-government rebels in Libya.
T. Clarke beats lowered expectations
Friday 18 Mar 2011
Having lowered expectations in January with a profits warning building services group T. Clarke managed to beat those downgraded expectations with its full year results.
Manganese Bronze trims losses
Friday 18 Mar 2011
Manganese Bronze (MB), the company behind London’s iconic black cabs, narrowed losses in 2010 and still thinks it can return to profit this year.
Berkeley to hit high end of forecasts
Friday 18 Mar 2011
London & south-east housebuilder Berkeley continues to benefit from the region's position as a pocket of strength in an otherwise gloomy housing market. "Berkeley anticipates reporting earnings at the high end of its expectations for the year ended 30 April 2011 and the investment in work in progress will enable a further growth in earnings in 2011/12 if overall market conditions permit," it said.
Oil moves past $100 as Arab turmoil continues
Thursday 17 Mar 2011
Turmoil in the Arab world continued to push oil prices up Thursday, sending the cost of a barrel above $100 in New York.
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