Editor's Picks
GM chief steps down as profits recover
Thursday 12 Aug 2010
Ed Whitacre is stepping down as chief executive of General Motors, as the recovering US car giant posted its second consecutive profitable quarter. Whitacre, who will be replaced by Dan Akerson, took the helm at GM when its future was in doubt after billion dollar losses as car buying seized up after the credit crunch.
Unemployment falls to 2.46m
Wednesday 11 Aug 2010
The number of people out of work fell by 49,000 to 2.46m in the three months to June, new figures from the Office of National Statistics (ONS) show.
Bank of England to warn on growth and inflation
Wednesday 11 Aug 2010
Bank of England governor Mervyn King is expected to lower forecasts for economic growth while raising inflation expectations in today’s inflation report.
Rok to miss 2010 expectations, CFO suspended
Wednesday 11 Aug 2010
Property repair and maintenance company Rok said it has suspended its CFO with immediate effect after 'serious failings' at its Plumbing Heating & Electrical business which will bring underlying pre-tax profit for the year significantly below market expectations.
Life no easier for Bank of Ireland
Wednesday 11 Aug 2010
Bank of Ireland posted sharply higher underlying losses as bad debts continue to hurt the embattled Irish bank.
Standard Life inflows break records
Wednesday 11 Aug 2010
Standard Life has increased half-year profit in line with forecasts as a big increase in net inflows boosted assets administration by 5% since the end of 2009 to £179.1bn.
Weak UK bookings hit Thomas Cook
Wednesday 11 Aug 2010
Package tour operator Thomas Cook warned that full-year profits will be at the low end of forecasts due to softer UK bookings and the weak euro. "As we enter the final quarter, it is apparent that trading in the UK business is softer than expected and, at current rates, the recent weakening of the euro will have an adverse impact
PPI compensation could run to billions
Tuesday 10 Aug 2010
Companies who’ve mis-sold Payment Protection Insurance (PPI) could be forced to pay out billions of pounds in compensation after the City regulator announced new measures to protect consumers.
Spending cut nerves threaten recovery
Tuesday 10 Aug 2010
A climate of fear has descended on Britain since chancellor George Osborne and Lib Dem sidekick Danny Alexander warned of huge cuts in public spending, the latest data suggests. Three months ago, the pair revealed the blueprint for a review to force government departments to slash costs by up to 40%. Today, house prices are down, retail sales growth is slowing and holiday plans are on hold
Retail sales growth slows amid consumer caution
Tuesday 10 Aug 2010
Retail sales growth slowed in July as worries over economic conditions and cooler and wetter weather towards the end of the month kept shoppers away from the High Street, a new survey by the British Retail Council (BRC) showed.
Estate agents report fall in house prices
Tuesday 10 Aug 2010
House prices are starting to fall, according to the latest survey of estate agents after a surge in the number of new properties put up for sale. For the first time since July 2009, the monthly survey from the Royal Institution of Chartered Surveyors (RICS) showed more of its members reported lower prices than saw a rise. The market is set to remain weak into 2011, the survey suggested
GDF to provide funding for new Intl. Power
Tuesday 10 Aug 2010
International Power shareholders will own 30% of the new company to be formed by the merger of the UK power company with French electricity giant GDF Suez Energy International.
InterContinental on recovery path
Tuesday 10 Aug 2010
Half-year results from InterContinental Hotels underpin that the hotel trade is showing signs of recovering from the effects of the recession, and not just at the budget end of the market.
Greggs serves up 2.9% sales rise
Tuesday 10 Aug 2010
Bakery and sandwich chain Greggs delivered a 2.9% rise in half year sales and said it remains confident for the full year despite the surge in wheat prices.
TUI warns as bookings slide
Tuesday 10 Aug 2010
Worries over the economy have caught up with travel group TUI Travel, which warned profits this year will be at the low end of forecasts after UK bookings faltered. UK bookings fell by 2% over the past 12 weeks with the Netherlands also down by 3%. The market has been hit hard by ash cloud disruption, good weather and the uncertainty around the emergency budget.
Oil minnows go after bulletin board abusers
Monday 09 Aug 2010
AIM–listed oil companies Nighthawk Energy and Nostra Terra Oil and Gas may take legal action against users who posted “defamatory and untrue” postings on two bulletin boards. Both companies are now considering whether to start civil proceedings for defamation after court orders forced boards run by Interactive Investor (iii) and ADVFN to name the guilty parties
Wheat price eases after hitting record
Monday 09 Aug 2010
Wheat prices eased on Monday amid speculation that a recent surge to 23-month highs will spur more plantings of the grain.
BP hails 'static kill' a success as costs soar
Monday 09 Aug 2010
BP’s “static kill” and cementing procedures at the broken MC252 well have been “successful”, stopping oil leaking into the Gulf of Mexico, the company confirmed Monday as the cost of the spill topped $6bn.
AstraZeneca pays out $198m over Seroquel
Monday 09 Aug 2010
Drug giant AstraZeneca said it had agreed to pay a total of $198m (£124m) in compensation to about 17,500 claimants in the US in relation to its bipolar disorder treatment Seroquel.
Connaught slides again amid funding talks
Monday 09 Aug 2010
Shares in social housing maintenance group Connaught are sharply lower again as it holds emergency talks with banks over a possible debt-for-equity swap that would wipe out shareholders.
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