Editor's Picks
Wellstream predicts better things in H2
Thursday 19 Aug 2010
Profit plunged by 59% at oil services firm Wellstream during the first six months of 2010, as expected, but the order backlog is rising and the second half results should better.
Toy Story 3 lifts Cineworld's prospects
Thursday 19 Aug 2010
A strong blockbuster and 3D film lineup, following a solid first half performance, underpins Cineworld's confidence in delivering full year results in line with market expectations. For the 26 week period ended 1 July 2010 the cinema chain said EBITDA edged up to £24.4m from £23.2m the year before. Pre-tax profit rose to £11.8m from £11.6m while group revenue stood at £162m, up 3.8% against 2009.
Shell pipelines attacked in Nigeria
Wednesday 18 Aug 2010
Oil thieves have launched a number of attacks on Royal Dutch Shell’s pipelines in Nigeria, forcing the oil giant to warn it might not be able to meet contractual obligations.
EMI seeks end to Citigroup row as losses narrow
Wednesday 18 Aug 2010
Big stars like Katy Perry have helped improve business at music company EMI over the past year and there is talk an end to the long-running legal dispute with Citigroup could be near.
ENRC dips on cautious outlook
Wednesday 18 Aug 2010
Kazakhstan-based mining giant ENRC put in a strong first half performance but the market was less concerned about the rear view mirror, and more concerned about the road ahead, where the outlook is a bit foggy.
BHP bid for PotashCorp turns hostile
Wednesday 18 Aug 2010
Anglo-Australian mining giant BHP Billiton has launched a hostile bid for Canadian potash producer Potash Corporation of Saskatchewan (PotashCorp) worth $40bn (£26bn) after its initial offer was rejected.
BoE's Sentance demands rate hike again
Wednesday 18 Aug 2010
The Bank of England voted 8-1 in favour of keeping interest rates at 0.5% when they met earlier this month, but Andrew Sentance voted in favour of higher rates for a third month. Hawkish rate-setter Sentance first put forward his case for a 25 basis point increase in borrowing costs in June, and remained convinced of his case at the Monetary Policy Committee’s August 4-5 meeting
Henderson well placed for future growth
Wednesday 18 Aug 2010
London based fund manager Henderson returned to the black in the first half and said while it expects market volatility to continue it believes it is well placed to grow its business.
Stagecoach on track as trading improves
Wednesday 18 Aug 2010
Train and bus operator Stagecoach said it has seen an improvement in trading conditions since April 30 and sees the outlook as positive despite the change of government and economic uncertainty.
Hochschild profits soar despite lower output
Wednesday 18 Aug 2010
Profits soared at Latin America-focused miner Hochschild in the half year to June 30 despite a fall in production as gold and silver prices continued climbing. Attributable pre-tax profits climbed to £38.9m from £12.9m over the same period the previous year as revenues jumped to £306.9m from £230.6m.
Canada's Potash snubs $38bn BHP approach
Tuesday 17 Aug 2010
Anglo-Australian mining giant BHP Billiton has been sent away with a flea in its ear by Potash Corporation of Saskatchewan after making a $38bn (£24bn) bid approach for the Canadian company. An anodyne statement by BHP confirmed it had suggested a possible acquisition at a price of US$130 a share but the management of Potash “has not agreed to engage in discussions”.
Asda finds trading challenging
Tuesday 17 Aug 2010
Supermarket retailer Asda has reported a second quarterly drop in like-for-like sales and it says the full year outlook remains challenging.
Inflation above target as food costs climb
Tuesday 17 Aug 2010
The governor of the Bank of England has said he was surprised at the strength of inflation as higher food costs helped keep consumer price inflation (CPI) ahead of the government’s 2% target. The annual rate of CPI fell to 3.1% from 3.2% in June, prompting Mervyn King to write to the chancellor to explain why it's still more than 1% ahead of target
Inflation above target as food costs climb
Tuesday 17 Aug 2010
Consumer price inflation (CPI) remained ahead of the government’s 2% target in July as rising commodity prices helped push up food costs.
Resolution makes profit, but hungry for more
Tuesday 17 Aug 2010
Insurance firm consolidator Resolution is happy after a big contribution from Friends Provident during the first half of 2010, but it’s already hunting down its next prey. The firm, which bought AXA's UK life assurance business in June for £2.75bn, reported an IFRS operating profit of £203m and “additional financial discipline” has seen Friends, snapped up last year for £1.9bn, contribute £211m.
Gartmore counts cost of Rambourg probe
Tuesday 17 Aug 2010
Fund manager Gartmore declared itself satisfied with a 146% improvement in interim earnings before interest, tax, depreciation and amortisation (EBITDA), though net sales were below expectations. “Net sales were below expectations primarily due to the suspension and subsequent resignation of one of our portfolio managers," said the group’s chief executive officer, Jeffrey Meyer.
EnQuest increasingly confident
Tuesday 17 Aug 2010
North Sea oil firm EnQuest posted a surge in half-year profit, increased its full year production guidance and said it looks forward to continuing growth.
Pennon trickling along nicely
Tuesday 17 Aug 2010
Pennon has traded as expected since the year end in March and users in the South West will be pleased to know the water supplier thinks a hose pipe ban is “highly unlikely” despite the dry summer.
Resolution makes profit, but hungry for more
Tuesday 17 Aug 2010
Insurance firm consolidator Resolution is happy after a big contribution from Friends Provident during the first half of 2010, but it’s already hunting down its next prey. The firm reported an IFRS operating profit of £203m and “additional financial discipline” has seen Friends, snapped up last year for £1.9bn, contribute £211m. Resolution lost £7m a year ago.
Indian asset sale heralds exciting times for Cairn
Monday 16 Aug 2010
Cairn Energy’s sale of its 51% stake in Cairn India to miner Vedanta may appear like a sharp change of direction for the two companies, but in many ways it represents a natural progression for both.
You are here: news > editors picks
10 Lower Thames St,
London EC3R 6EN