Editor's Picks
Rolls-Royce set for 2010 profits increase
Thursday 29 Jul 2010
Aero engines developer Rolls-Royce expects 2010 profit to be modestly higher than 2009 after a ‘robust performance’ in the first half of the year.
Shell profits impress
Thursday 29 Jul 2010
Royal Dutch Shell has trumped forecasts with a 15% jump in second quarter profit, in stark contrast to loss-making rival BP, thanks to higher oil prices and an increase in production. Net income rose to $4.39bn from $3.82bn this time last year, while earnings on a current cost of supplies basis came in at $4.5bn, up from $2.3bn a year ago. Analysts had expected somewhere around the $4bn mark.
King cautious on recovery prospects
Wednesday 28 Jul 2010
Bank of England governor Mervyn King today echoed concerns over the UK’s economy recovery, warning that a stagflation scenario of high inflation and low growth remains a possibility. In testimony to the Treasury Select Committee of MPs, King said, while “encouraging,”, too much should not read in to the much stronger than expected second quarter GDP data.
Wales leads house price risers in June
Wednesday 28 Jul 2010
House prices in England and Wales increased by 0.1% between May and June, although there were large regional differences, with prices up 2.9% over the Welsh border.
BP still facing anger in the US
Wednesday 28 Jul 2010
BP remains in the firing line in the US despite apparent progress in capping the Gulf of Mexico oil leak.
Easyjet takes £65m ash hit
Wednesday 28 Jul 2010
Easyjet's sales rose by 5.3% to £759.2m in the three months to June despite volcanic ash cloud disruption that cost the airline £65m.
BATs sees growth in 2010, ups divi
Wednesday 28 Jul 2010
British American Tobacco upped its dividend by a better than forecast 19% and said it expect another year of good growth in both earnings and dividends.
BG profit hit by output dip and one-offs
Wednesday 28 Jul 2010
BG has delivered a “good” set of second quarter results with revenue up 18%, but a fall in production and re-measurements of commodity based contracts caused a profit to tumble.
Cold snap boosts Centrica earnings
Wednesday 28 Jul 2010
Centrica is heading for more controversy over energy prices after the British Gas owner’s interim profits jumped 65%. Earnings in the half-year to June rose to £886m from £537m on revenues of £11.7bn, barely changed from the previous year. Pre-tax profits rose from £448m to £2bn. A strong performance from its British Gas arm drove the improvement.
FSA fines former Northern Rock exec
Tuesday 27 Jul 2010
The city watchdog has fined David Jones, the former finance director of Northern Rock, £320,000 and prohibited him from performing any function in relation to any regulated activity.
Ofcom targets broadband speed claims
Tuesday 27 Jul 2010
Broadband speeds in the UK are increasing but not to anywhere near the levels adverts from the telecoms companies suggest, regulator Ofcom said today.
ARM confident as profits soar
Tuesday 27 Jul 2010
Revenues and profits continued soaring at ARM in the second quarter as the chip-designer continued to see strong demand for its technology from makers of mobile ‘phones and other must-have gadgets.
Halfords drives through revenue growth
Tuesday 27 Jul 2010
Car parts and bicycles retailer Halfords drove through a 9.6% rise in group revenue from 3 April to 26 July, helped by its acquisition of Nationwide Autocentres in February, but it issued a cautionary stance on the economic environment.
BP posts record loss, unveils new boss
Tuesday 27 Jul 2010
BP fell into losses in the second quarter as the Gulf of Mexico oil spill took its toll. As expected the oil giant announced the departure of Tony Hayward as chief executive. BP, which announced that Tony Hayward is to step down as chief executive of the group on October 1 to be succeeded by fellow executive director Bob Dudley, said
Reckitt still making a packet
Monday 26 Jul 2010
News that Reckitt Benckiser’s sales fell in Europe in the half year to June 30 is likely to strengthen the household products firm’s determination to snap up the condom and footcare products group SSL.
FedEx ups earnings outlook
Monday 26 Jul 2010
FedEx on Monday raised its first quarter and full year profit forecast, citing better than expected growth in FedEx Express and Ground volumes.
William Hill phone business goes offshore
Monday 26 Jul 2010
Betting firm William Hill is to close down its UK telephone betting operations and switch them to Gibraltar.
Reckitt reiterates target as profit grows
Monday 26 Jul 2010
Anglo-Dutch household goods firm Reckitt Benckiser posted a rise in half-year profit and confirmed its full-year target after agreeing a £2.5bn bid for foot care and condom firm SSL last week.
Dudley to replace Hayward at BP
Monday 26 Jul 2010
Oil giant BP has confirmed Tony Hayward is to step down as chief executive of the group on October 1 to be succeeded by fellow executive director Bob Dudley.
BP posts record loss after $32bn charge, Hayward goes
Monday 26 Jul 2010
Troubled oil group BP has taken a £$32.2bn charge in respect of the Gulf of Mexico oil spill, including the $20bn it has already committed to putting in escrow. As a result the company reported a headline replacement cost pre-tax loss of $16.97bn for the second quarter, compared to a profit of $3.14bn the year before. It is the biggest ever quarterly loss in UK corporate history.
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