Editor's Picks
Telefonica to take €2.7bn redundancy charge
Friday 15 Jul 2011
Spanish telecoms giant is set to pay an eye-watering amount to downsize its workforce, which will see 6,500 employees turfed on to the dole queue between now and 2013.
Standard Chartered eyes Piraeus Bank's Egyptian unit
Friday 15 Jul 2011
Standard Chartered confirmed that it has submitted a request to the Central Bank of Egypt to conduct its due diligence into the operations of Greece-based Piraeus Bank’s Egyptian unit, indicating that it may consider acquiring the business.
London midday: Stocks move both ways after updates
Friday 15 Jul 2011
Stocks are moving in both directions on a surprisingly busy company news day for a Friday. The FTSE 100 is flat. BHP Billiton falls after the company, best known as a miner, said it is increasing its oil and gas activities with the $12.1bn (£7.5bn) purchase of Texas and Louisiana-focused firm Petrohawk.
Abbeycrest shares plunge on debt worries
Friday 15 Jul 2011
International jewellery designer and manufacturer, Abbercrest, today said it would need to renegotiate its debt facilities in the coming months. The news wiped 57% of the value of its shares in morning trading. The company said that in May 2011 it had agreed revised and extended facilities with its lenders in the UK and Thailand.
Gold and silver output fall at GMA's Algerian mine
Friday 15 Jul 2011
Algerian precious metal miner GMA Resources fell more than 2% after reporting a drop in gold and silver production for the third consecutive quarter at its Amesmessa gold mine in south west Algeria.
Rail growth just the ticket for Firstgroup
Friday 15 Jul 2011
Rail and bus company FirstGroup is quietly enjoying seeing the price of petrol go through the roof, as it is persuading more people to use its rail services.
S&P latest to put USA on downgrade watch
Friday 15 Jul 2011
The rating agency Standard & Poors has become the latest to warn it could downgrade US debt, taking away its coveted AAA rating.
Rebekah Brooks resigns from News International
Friday 15 Jul 2011
Rebekah Brooks, chief executive of News International, has resigned, saying she felt a "deep responsibility for the people we have hurt". Brooks was editor of the now defunct News of the World when murder victim Milly Dowler's phone was hacked but had said she would remain in charge despite intense pressure on her to resign.
Landkom set for maiden profit
Friday 15 Jul 2011
Ukrainian farmer Landkom said it is on target to achieve a pre-tax profit for the full year as it moved into the black at the half-year stage. This is the first time that Landkom has reported a profit since its inception in 2007," said Vitaliy Skotsyk, the Ukrainian citizen brought in to turn the company around in 2009.
Asia: Caution ahead of stress tests
Friday 15 Jul 2011
The Nikkei captured modest gains, after spending most the day in negative territory, but caution remained ahead of Friday's European bank stress tests.
Rail growth just the ticket for Firstgroup
Friday 15 Jul 2011
Rail and bus company FirstGroup is quietly enjoying seeing the price of petrol go through the roof, as it is persuading more people to use its rail services. "The increased demand for rail services has continued during Q1 leading to good volume growth across all of our rail franchises," the company's AGM statement said.
Alumasc warns on FY underlying profit
Friday 15 Jul 2011
Building and engineering products company Alumasc said underlying profit for the full year is expected to be ahead of last year, but below previous management expectations after margins were squeezed at its building products division. Group revenues are expected to be in line with previous expectations.
Europe open: Caught in US-Eurozone pincer
Friday 15 Jul 2011
It seems the only way is down for European equities, as investors fret over the prospect of a previously unthinkable downgrade of US sovereign debt and the results of the European banking stress tests.
London open: More losses as Europe worries continue
Friday 15 Jul 2011
Stocks have fallen back in early dealings with nerves on edge over Europe again, this time as traders await banking stress test results.
Thai drilling disappointment for Salamander
Friday 15 Jul 2011
Southeast Asia-focused oil and gas group Salamander is abandoning its Dao Ruang-3 well off Thailand after analysis of data from drilling showed it “would have limited potential as a producer.” However, chief executive James Menzies said that the well data, together with other seismic data, would be used to analyse the company’s wider position in the area.
Market overview: FTSE 100 down 38
Friday 15 Jul 2011
0840: The FTSE 100 is down 38 at 5,809.
Organic revenue growth of 6% for Experian
Friday 15 Jul 2011
Credit checking firm Experian saw organic revenue growth of 6% in the second quarter of 2011, and continues to anticipate organic revenue growth in the mid-high single digit range over the full-year.
Euromoney exhibits strong cash flow
Friday 15 Jul 2011
Publishing, events and electronic information group Euromoney has been trading in line with management expectations since its interim results were announced on 19 May. Total revenues for the quarter to June 30, 2011 - the third quarter of the group's financial year - increased by 4% to £102.0m, driven by another strong performance from the group's event businesses.
Organic revenue growth of 6% for Experian
Friday 15 Jul 2011
Credit checking firm Experian saw organic revenue growth of 6% in the second quarter of 2011, and continues to anticipate organic revenue growth in the mid-high single digit range over the full-year.
London pre-open: Bears still holding sway
Friday 15 Jul 2011
Stocks look set to pick up where they left off yesterday, with City traders anticipating the Footsie will open some 25 points lower. Credit checking firm Experian saw organic revenue growth of 6% in the second quarter of 2011, and continues to anticipate organic revenue growth in the mid-high single digit range over the full-year. Total revenue growth from continuing activities was 10%.
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