Editor's Picks
Serious Fraud Office to investigate Rolls-Royce's intermediaries
Thursday 06 Dec 2012
Power systems giant Rolls-Royce is to report to the Serious Fraud Office (SFO) after matters of bribery and corruption involving so-called 'intermediaries' were discovered in Indonesia and China.
London close: Markets unfazed by Osborne's budget
Wednesday 05 Dec 2012
Miners gain on Chinese optimism; OBR cuts GDP forecasts; US ISM data lifts markets in afternoon trade.
FTSE 250 movers: Home Retail rises on upgrade
Wednesday 05 Dec 2012
Shares in Argos and Homebase owner Home Retail raced ahead today after Bank of America Merill Lynch upgraded the stock from 'neutral' to 'buy' and hiked its price target from 110p to 130p.
FX round-up: Spanish auction weighs on euro
Wednesday 05 Dec 2012
The euro came under pressure on Wednesday, pulling off a seven week high against the dollar, as a weak Spanish debt auction fuelled fresh nerves about the Eurozone debt crisis.
Service sector figures dent chance of Q4 growth
Wednesday 05 Dec 2012
The service sector almost ground to a halt in November, as the powerhouse of the British economy registered its weakest month in almost two years.
Commodities: Gasoline supply surge weighs on crude
Wednesday 05 Dec 2012
Crude oil prices were dragged lower on Wednesday after US government data showed gasoline supplies surged in the last week.
Premier Farnell third quarter profit drops
Wednesday 05 Dec 2012
Electronics components supplier Premier Farnell said profit in the third quarter fell amid challenging market conditions as it executes cost cuts in the final quarter which are expected to produce annual savings of 4m pounds.
HSBC offloads Ping An stake for over nine billion dollars
Wednesday 05 Dec 2012
Global banking giant HSBC is to receive over nine billion dollars from the sale of its stake in Chinese insurance giant Ping An Insurance, the company announced on Wednesday morning.
Tesco mulling sale of Fresh & Easy
Wednesday 05 Dec 2012
Supermarket titan Tesco has announced that it is considering a sale of its loss-making US division, Fresh & Easy, as it revealed that the frontman of the unit, Tim Mason, will leave the company after 30 years' service.
Wednesday newspaper round-up: George Osborne, Banking union, Philip Green...
Wednesday 05 Dec 2012
George Osborne will announce he is to raise taxes on banks for the fifth time today as he sets out the need for deeper and longer-lasting spending cuts in a bleak mini-budget. In an attempt to convince voters that he intends to share the pain of austerity evenly, the Chancellor will risk accusations of hypocrisy from the City by again turning to the banking sector. Mr Osborne told Cabinet
London close: US and Eurozone uncertainty keeps stocks flat
Tuesday 04 Dec 2012
Democrats, Republicans wrangle over 'fiscal cliff'; Europe talks about bank supervisor; defensives gain, resources fall.
Sector movers: Tesco boosts retail sector ahead of Q3 update
Tuesday 04 Dec 2012
Tesco was on investors’ shopping lists this afternoon ahead of its trading update tomorrow, lifting the food and drug retail sector higher.
British Airways unveils plans to make 400 job cuts
Tuesday 04 Dec 2012
International Airlines Group (IAG), the FTSE 100 company which owns British Airways, has warned that it has entered talks with unions to discuss plans to cut jobs within the airline's cabin crew based at Heathrow airport.
London midday: Tullow drops as Footsie edges higher
Tuesday 04 Dec 2012
UK stocks were making small gains by Tuesday lunchtime on the back of developments in the Eurozone, though the mood was cautious as budget uncertainty in the US continues to weigh on sentiment.
Shares jump as Creon agrees deal to build jack-up rig
Tuesday 04 Dec 2012
Resources infrastructure investment company Creon has cheered investors with the news that it has entered into a contract with Explorer 1 to construct and deliver one unit of a self-elevating mobile offshore jack-up drilling rig.
Tullow Oil French Guiana Zaedyus-2 well comes up dry
Tuesday 04 Dec 2012
Commercial hydrocarbons have not been found at the Zaedyus-2 appraisal well in offshore French Guiana after Tullow Oil completed drilling but the Group is confident the French Guiana block remains “highly prospective”.
BP reiterates 50 per cent increase in operating cash flow by 2014
Tuesday 04 Dec 2012
Just weeks after it published its third quarter results, BP told investors they can expect more than 50 per cent growth in operating cash flow by 2014 at 100 dollars per barrel.
US market drives growth at Wolseley - UPDATE
Tuesday 04 Dec 2012
Like-for-like (LFL) revenue growth at plumbing merchant Wolseley continues to be polarised across its geographic regions, with growth in the US and Central Europe accelerating and declines in France and the Nordic markets worsening.
Broker snap: Macondo spill still hanging over BP, says Jefferies
Tuesday 04 Dec 2012
Jefferies has retained its 'hold' rating and 450p target price for oil titan BP despite the stock trading at a large discount to the sector, saying that the business is 'yearning to be free' from the Macondo well disaster.
Broker snap: Credit Suisse upgrades forecasts for Rio Tinto
Tuesday 04 Dec 2012
Credit Suisse has reiterated its 'outperform' rating for mining giant Rio Tinto, saying that the group's cost determination is impressive.
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