Editor's Picks
BP's 'static kill' plugs leaking well
Wednesday 04 Aug 2010
It’s looking like BP may have sealed the leaking Maconda well in the Gulf of Mexico by pumping it full of mud from vessels on the surface – a process known as “static kill”. The procedure started at 9pm UK time on Tuesday and continued for the next eight hours. The well now “appears to have reached a static condition”, BP said this morning.
Surging wheat costs prompt food price fears
Tuesday 03 Aug 2010
The near 50% increase in wheat prices in the past month has prompted warnings that food prices are likely to rise.
BP sells Colombia assets for $1.9bn
Tuesday 03 Aug 2010
BP has agreed to sell its oil and gas assets in Colombia for $1.9bn (£1.2bn), as the oil giant continues its programme of asset sales in the wake of the Gulf of Mexico oil spill.
Big-hitters to launch new bank this month
Tuesday 03 Aug 2010
An investment vehicle run by a team of influential bankers and politicians, NBNK, will begin building a banking empire when it floats on London’s AIM later this month. Lord Levene, the 68-year-old chairman of Lloyd's of London and former government advisor, is raising £50m to recruit more big names and buy some branches as a launch pad for bigger things
‘Bad’ is good for Northern Rock
Tuesday 03 Aug 2010
Northern Rock’s so-called “bad bank” has turned in a big profit for the first half of 2010, but the “good” bank is struggling as retail deposits, its lifeline, decline.
Orders reviving at Meggitt
Tuesday 03 Aug 2010
Engineering group Meggitt said order intake for its civil aerospace business improved in the second quarter while military revenues should pick up in the second half.
Northern Rock's 'bad bank' back in the black
Tuesday 03 Aug 2010
Northern Rock, which was split into two earlier this year, has returned to profitability for the first time since the credit crunch.
GKN shifts up a gear
Tuesday 03 Aug 2010
GKN, the engineer that serves the automotive, aerospace and off-highway markets, moved up another gear in the first half of 2010.
China and US drive Xstrata growth
Tuesday 03 Aug 2010
Anglo-Swiss mining leviathan Xstrata saw profits soar in the first half as the company remained on track to hit its production volumes and cost cutting targets.
ITV to charge as profits recover
Tuesday 03 Aug 2010
New ITV chief executive Adam Crozier has unveiled a five-year transformation plan for the embattled TV broadcaster involving a move into pay-TV to halve its dependence on advertising. Crozier also revealed a sharp upturn in ITV’s financial fortunes over the past six months, as lower costs and a revival in ad revenues lifted turnover 8.6% to £987m in the six months to June.
Keller seeks to lay foundations for growth
Monday 02 Aug 2010
As a company which prepares the ground for building works, Keller is also well-placed to gauge whether the global economic recovery is built on strong foundations.
Fundamentalist 5: Brief move into profit
Sunday 01 Aug 2010
For a brief period last week the Fundamentalist Five, the Digital Look high income virtual portfolio, moved into profit before scurrying back to the ignominy of life in the red.
Hammerson profit up, outlook uncertain
Friday 30 Jul 2010
Property group Hammerson reported a 7% rise in half year profit as its markets continued to recover from the recession over the first half of 2010, but cautioned that the outlook remains uncertain.
BA in fresh talks with unions
Friday 30 Jul 2010
British Airways is due to start new discussions with the Unite union today in a fresh attempt at resolving the long-running and expensive dispute with cabin crew.
Anglo misses estimates
Friday 30 Jul 2010
Anglo American’s interim results came in slightly below analyst forecasts but the mining giant said it remains confident about its prospects.
British Land re-signs UBS for Broadgate
Friday 30 Jul 2010
British Land and Blackstone Group have signed leases with Swiss bank UBS to develop a new 700,000 sq ft building on the site of 4 and 6 Broadgate, in the City of London.
HSBC profits soar as bad debts decline
Friday 30 Jul 2010
HSBC gave a signal that the banking sector may be returning to normality after the credit crisis as it posted interim profits that more than doubled on the back of a sharp reduction in bad debts. In the half year to June 30, the bank saw pre-tax profits jump to US$11.1bn from $5bn over the same period the previous year.
Reed Elsevier remains cautious
Thursday 29 Jul 2010
Variety magazine publisher Reed Elsevier said advertising and promotion markets are stabilising although it remains cautious as it reported a decline in first half operating profit and flat revenue.
BT profit climbs, confirms outlook
Thursday 29 Jul 2010
Telecoms leviathan BT reported a 17% rise in pre-tax profits in the first quarter and reiterated its full year outlook.
BAE Systems maintains guidance
Thursday 29 Jul 2010
Defence firm BAE Systems continues to expect revenue growth in 2010 despite the threat of cutbacks in government spending.
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