Editor's Picks
Mitchells & Butlers profits improve
Tuesday 18 May 2010
Pub owner Mitchells & Butlers posted a sharp recovery in underlying profits to £73m from £47m in the half year to March, as it fleshed out its plans to move away from drink-led outlets to food-based ones.
Yell slides as bosses depart
Tuesday 18 May 2010
Leaving aside the shock departure of its chief executive and finance boss, there was plenty in directories group Yell’s full-year figures and outlook statement that will have left investors scratching their heads trying to think of how the firm can stem the decline.
EU agrees need for new hedge fund rules
Tuesday 18 May 2010
European Union finance ministers on Tuesday agreed the need for new curbs on the hedge fund industry.
Premium broker tips: Opportunity in oil sell-off
Tuesday 18 May 2010
Companies covered today include: BP, Tullow Oil, Premier Oil, Petrofac
Dairy Crest cuts debt as profit firms
Tuesday 18 May 2010
Milk and cheese producer Dairy Crest served up a 5% increase in adjusted annual pre-tax profit, posted a 19% reduction in year end net debt and said trading at the start of the new year is in line with company expectations.
British Land net assets leap 27%
Tuesday 18 May 2010
British Land had a “good” year despite the challenging and volatile markets, lifting net asset value (NAV) by 27%, more than many analysts had predicted.
Blinkx tunes into smartphone revolution
Tuesday 18 May 2010
Blinkx claims to be the world’s largest search engine, though this is not to say that it competes with much better-known companies such as YouTube and MySpace.
GM posts first quarter profit
Monday 17 May 2010
US car manufacturer GM has posted a first quarter profit, setting the Detroit-based company on course for what it hopes will be its first full-year profit since 2004.
Emergency budget called for 22 June
Monday 17 May 2010
Britain's new coalition government will hold its first budget on Tuesday 22 June, it has been announced today.
Carluccio’s H1 profit rises 8%
Monday 17 May 2010
Carluccio’s, an Italian restaurant and food shop owner, said first half pre-tax profit increased 8% as it opened three new stores and increased sales.
House price growth slows in May
Monday 17 May 2010
Property website Rightmove’s house price index rose by 0.7% in May, down sharply from the 2.6% increase seen in April in a further sign that the recovery in house prices is easing. The total rise in average prices over the whole year was 4.3%, taking the average price to £237,134. In the year to the end of April, prices climbed by 6%, taking the average selling price to £235,512.
Man to buy GLG for $1.6bn
Monday 17 May 2010
Hedge fund manager Man Group has agreed to buy New York-listed rival GLG Partners for $1.6bn.
Prudential launches massive AIA rights call
Friday 14 May 2010
Life insurer Prudential has finally launched its delayed rights issue to finance the $35.5bn acquisition of AIG's Asian businesses (AIA), with the new shares priced at an 80% discount to the market price on Friday.
Coalition government - cuts and hikes
Friday 14 May 2010
The new coalition government said it needs to tackle the £163bn budget deficit but exactly where the cuts and tax hikes will fall are still very much in the air.
Tough times ahead for euro
Friday 14 May 2010
Analysts are warning that the recent hammering for the euro is far from over and could eventually see the eurozone currency drop to parity with the dollar. The euro fell to a 19-month low against the dollar of $1.23 last week on fears that the austerity measures being imposed on countries across the EU could tip the region back into recession.
Pressing matters for local paper groups
Friday 14 May 2010
The General Election gave local newspapers plenty to write about, but unfortunately had the negative consequence of suppressing advertising revenues.
Pressure on BP grows as clean-up costs soar
Friday 14 May 2010
The boss of BP remains under pressure as reports suggest that the oil slick in the Gulf of Mexico is worse than previously thought.
European economic worries persist
Friday 14 May 2010
Concerns about how austerity measures in Europe might hit company earnings and the continent's economy are again weighing on markets worldwide.
Premium broker tips: Best banks target Asia
Friday 14 May 2010
Companies covered today include: Barclays, HSBC, Standard Chartered, Lloyds, Royal Bank of Scotland
Iberia posts smaller than expected loss
Friday 14 May 2010
Spanish airline Iberia reported a narrower than expected first-quarter loss, helped by a 21% drop in fuel costs.
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