Editor's Picks
CBI pleads for 'convincing' deficit plan
Monday 08 Mar 2010
The government must unveil a “convincing” plan to slash the UK’s record budget deficit when it delivers its final budget before the general election, business leaders have urged.
Prudential brings forward HK listing
Monday 08 Mar 2010
Prudential has accelerated its plans for a listing on the Hong Kong Stock Exchange and now wants it effective before its $20bn rights issue to help fund the purchase of AIG Asia. The listing will be by way of an Introduction, with a dual-primary listing alongside its primary listing of ordinary shares in London. Prudential is not issuing any new shares other than those in the rights issue
Pru to launch charm offensive over AIG Asia
Friday 05 Mar 2010
Prudential will this week start a charm offensive to persuade its big investors to back the deal to buy AIG’s Asian businesses. The life insurer’s share price slumped last week on news of the $35.5bn deal and a $20bn rights issue to help pay for it. Some large investors reportedly have already balked at the prospect of stumping up the cash
Premium broker tips: Nomura pumps Oil & Gas winners
Friday 05 Mar 2010
Nomura has thrown its weight behind a trio of oil companies as upcoming results are expected to highlight an expected pick-up in drilling and operational activity from the second quarter of 2010.
Producer price inflation hits 14-month high
Friday 05 Mar 2010
Producer price inflation reached a 14-month high in February, figures from the Office of National Statistics (ONS) showed.
More financiers join Red Knights' crusade
Friday 05 Mar 2010
The crusade by the ‘Red Knights’, a group of City financiers, to buy Premiership champions Manchester United is gaining support.
WPP recovering from 'brutal' 2009
Friday 05 Mar 2010
WPP has been hit hard by the recession and slump in advertising spend, but headline profit before tax fell less than expected during a “brutal” 2009 and there was an encouraging return to stability in January. The second half saw a marked improvement when headline operating profit rose to £675m, up from £342m in the first half and £665m during the last six months of 2008
Scottish & Southern Energy cuts gas bills by 4%
Thursday 04 Mar 2010
Scottish and Southern Energy (SSE) is dropping its gas prices by 4% from 29 March, saving the average family £30 a year. A typical customer on a single fuel contract will see their gas bill fall by 7%, while pre-payment customers will pay 9% less than before. The UK's second largest energy supplier, claims its customers will pay 5% less than those with British Gas
Trinity Mirror starts looking to upturn
Thursday 04 Mar 2010
Daily Mirror publisher Trinity Mirror provided further reassurance that the worst of the downturn is over for the newspaper sector today, though that does not necessarily mean the industry will return to business as usual
Bank of England leaves rates unchanged
Thursday 04 Mar 2010
The Bank of England has held interest rates at 0.5% and taken no further action on quantitative easing (QE) amid conflicting signals over the state of the UK economy.
House prices fall in February
Thursday 04 Mar 2010
LONDON (SHARECAST) - The freezing start to 2010 and higher stamp duty stopped the housing market revival in its tracks in February, with prices falling for the first time in eight months according to the latest figures from mortgage lender Halifax. House prices fell by 1.5% in February breaking a run of seven consecutive monthly increases.
Amec plays down revenue decline
Thursday 04 Mar 2010
Engineering and project management firm Amec saw revenues slip in 2009 amid tough economic conditions, but managed to post a rise in EBITDA earnings due to acquisitions and currency movements.
Book value miss hits Aviva
Thursday 04 Mar 2010
Insurer Aviva beat profit expectations in 2009 and is encouraged by signs during the fourth quarter that its customers are beginning to save again.
VT scraps Mouchel takeover idea
Thursday 04 Mar 2010
Support services group VT Group said it would not be making an offer for its rival Mouchel after seeing two bid approaches rejected. VT said it ‘has decided not to make an offer for Mouchel at this point,’ in view of Mouchel’s rejection of its bid and VT itself receiving a bid from infrastructure group Babcock International
Aggreko nudges up guidance
Thursday 04 Mar 2010
Scottish temporary power solutions provider Aggreko reported record revenues, profits and margins in 2009, helped by foreign exchange tailwinds.
Cobham buying spree pays dividends
Thursday 04 Mar 2010
Cobham rallied the troops in 2009 as acquisitions made the previous year helped grow profits at the defence and aerospace group which expects further progress this year.
Stadium Group sales hold up
Wednesday 03 Mar 2010
Electronics and plastics manufacturer Stadium Group saw revenues and profits fall in the year to December 31 as its customers cut back in the early part of the year to cope with the global economic downturn.
Greece unveils new austerity measures
Wednesday 03 Mar 2010
Greece has unveiled a new package of austerity measures in an attempt to convince investors and fellow EU members it is serious abut tackling its debt crisis. The proposals, which would see an immediate pension freeze, wage cuts in the public sector and higher VAT, are designed to save $4.8bn annually and reduce Greece’s budget deficit to 8.7% of GDP
Premium broker tips: HSBC disappoints Nomura
Wednesday 03 Mar 2010
Companies covered today include: HSBC and Informa
Deadly strikers put pressure on Sportingbet
Wednesday 03 Mar 2010
A rise in the number of goals being scored in European football has put margins under pressure at online bookie Sportingbet.
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