Editor's Picks
Bank of England's Sentance voted for rate rise
Wednesday 23 Jun 2010
The Bank of England’s Monetary Policy Committee (MPC) was split on keeping interest rates at 0.5% at its last monthly meeting for the first time since rates were slashed to their current record lows, minutes show. The MPC voted 7-1 in favour of keeping rates at 0.5%. The dissenting MPC member, Andrew Sentance, voted for an increase of 25 basis points to 0.75%
Fresh BA strike fears as Unite sets deadline
Wednesday 23 Jun 2010
British Airways could face a fresh wave of walkouts, this time potentially hitting the school summer holidays.
Obama to appeal as Gulf drilling ban overturned
Wednesday 23 Jun 2010
Barrack Obama is already planning an appeal after a New Orleans judge blocked the president’s six-month moratorium on deep water oil drilling in the Gulf of Mexico. The controversial ban, introduced in April after an explosion on the Deepwater Horizon rig caused the biggest environmental disaster in American history, could not be justified, ruled judge Martin Feldman
Chancellor's Budget costs Rank £2.5m
Wednesday 23 Jun 2010
Rank has calculated yesterday’s Budget will result in a net cost to the Mecca bingo clubs and casinos firm of about £2.5m from 2011.
French unit drives Kesa profits
Wednesday 23 Jun 2010
Kesa Electricals, the company behind TVs-to-washing machines retailer Comet, traded in line with expectations during the 12 months to 30 April, but it’s the French chain that’s behind a recovery in profits.
Stagecoach zips past forecasts
Wednesday 23 Jun 2010
Rail and bus firm Stagecoach’s profits beat market expectations despite raising earnings guidance as recently as the end of April.
Imagination Tech soars with smartphone boom
Wednesday 23 Jun 2010
Graphics chip designer Imagination Technologies predicts the number of devices sold that use its chips could quadruple over the next few years as it rode the boom in smart mobile phones and tablet computers to post record results. Revenues for the year to April 2010 rose 26% to £80.9m (2009: £64.1m). Pre-tax profits soared to £10.2m from £2.7m.
Osborne gets tough on welfare
Tuesday 22 Jun 2010
George Osborne says Britain’s bloated welfare system needs “lasting reform” and that we must tackle the country's £180bn benefits bill as they have done across Europe.
City unfazed by Osborne's tax rises
Tuesday 22 Jun 2010
The City has reacted positively to Chancellor George Osborne’s first budget, which included a series of tax rises but emphasised cutting spending rather than raising revenues. ‘The coalition government believes that the bulk of the reduction must come from lower spending rather than higher taxes,’ said Osborne, who claimed the Budget supports a ‘strong enterprise-led recovery.’
Premier Inn and Costa froth up Whitbread profit
Tuesday 22 Jun 2010
Hotel and coffee shop chain Whitbread saw a 7.6% rise in like-for-like sales in the 13 weeks to 3 June as its low prices attracted customers during the uncertain economic conditions.
Trustees agree BA pension plan
Tuesday 22 Jun 2010
British Airways has taken a major step towards restructuring its huge pension liabilities after the trustees of its two pensions funds agreed a recovery plan that avoids their closure.
Prepare for Budget pain
Tuesday 22 Jun 2010
The British public has been warned to expect the toughest budget in decades as the new Lib-Con coalition prepare to make good on their promise to get the country’s finances in order. In his first Budget as chancellor, George Osborne will outline a series of hard-hitting tax hikes and huge cuts in spending aimed at carving a chunk out of the record deficit
German business sentiment ticks up
Monday 21 Jun 2010
German business sentiment rose to its highest level in more than two years in June, according to a closely watched survey.
China's currency move lifts global shares
Monday 21 Jun 2010
Asian and European markets were lifted by China's weekend announcement that it would allow the yuan more flexibility after a two-year peg against the dollar.
Osborne to freeze council tax
Monday 21 Jun 2010
Chancellor George Osborne is expected to reveal plans to freeze council tax in England next year.
Smartfocus lands PartyGaming deal
Monday 21 Jun 2010
Marketing software group smartFOCUS has picked up a major contract with online poker, casino and gaming group PartyGaming.
Domino profits double
Monday 21 Jun 2010
Printing technologies group Domino Printing Sciences has more than doubled full-year profit as customers regain confidence following the end of the recession, increasing volumes by 30%.
BP takes high ground with Anadarko
Monday 21 Jun 2010
Beleaguered oil giant BP said the latest bout of finger pointing with its partners on the ill fated Macondo oil well in the Gulf of Mexico will not distract it from fulfilling its promise to clean up the spill and pay legitimate claims. Anadarko Petroleum is refusing to accept responsibility for its share of oil spill removal costs and damages, alleging BP was 'grossly negligent'.
Ex-Zurich boss could replace Pru chairman, reports
Sunday 20 Jun 2010
The former boss of Zurich Financial Services, Jim Schiro, is reported to head a list of possible replacements for Prudential chairman Harvey McGrath. It has been rumoured that McGrath may be forced to resign following Prudential’s failed $35.5bn bid for AIG’s Asian business. "Harvey is on his way out so the search is now on for replacement. Mr Schiro is top of many people's list,
Keeping CEOs in check
Friday 18 Jun 2010
The recent crises at two of Britain’s most prestigious companies, oil company BP and insurer Prudential, have seen the chief executives of both companies come under pressure, but have also raised questions about the accountability of chairmen.
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