Editor's Picks
Obama vows to make BP pay
Wednesday 16 Jun 2010
US president Barack Obama stepped up the pressure on beleaguered oil giant BP with a vow to make the company pay for its "recklessness" in the Gulf of Mexico. In a speech to the US nation using the intimate setting of the White House's Oval Office for the first time, the US president said he would tell BP to set up a compensation fund for those affected by the spill.
Fitch deals BP new blow
Tuesday 15 Jun 2010
Ratings agency Fitch has reduced its rating for BP to a level barely above junk status.
Sky bid paves way for multimedia landscape
Tuesday 15 Jun 2010
Last week, culture secretary Jeremy Hunt announced that he accepted regulator Ofcom’s recommendation that cross-media ownership rules be relaxed.
Consumer inflation falls in May
Tuesday 15 Jun 2010
Annual consumer price inflation (CPI) moved closer to the Bank of England’s 2% target in May as food prices eased.
Tesco sees steady consumer recovery
Tuesday 15 Jun 2010
Supermarket giant Tesco said it is continuing to see evidence of a steady consumer recovery in Britain as it reported UK like for like (lfl) sales growth of 1.1%.
BSkyB shares surge on News Corp move
Tuesday 15 Jun 2010
Satellite broadcaster BSkyB surged after it rejected a 700p per share offer from Rupert Murdoch’s News Corporation but said it would consider at least 800p per share. NewsCorp, which already owns 39.1% of BSkyB, made an initial offer at 675p on 10 June but after a meeting with BSkyB's independent directors, raised its offer to 700p, which was still rejected.
SuperGroup to fashion overseas expansion
Monday 14 Jun 2010
While other fashion groups have been struggling through the recession, the edgy appeal of SuperGroup’s signature label Superdry, sported by the likes of David Beckham and Jude Law, has kept tills ringing at the company’s stores.
UK growth forecasts revised down
Monday 14 Jun 2010
A newly established fiscal watchdog has downgraded the previous Labour government's growth expectations for the UK economy. The Office for Budget Responsibility (OBR) says that the economy will only expand 2.6% in 2011, below the 3.25% predicted in Alistair Darling's last Budget. The OBR said: “Our conclusion is that
UK growth forecasts revised down
Monday 14 Jun 2010
A newly established fiscal watchdog has downgraded the previous Labour government's growth expectations for the UK economy.
World Cup effect kicks in
Monday 14 Jun 2010
The World Cup is underway and, apart from the usual demand for plastic England flags, retailers have been doing a roaring trade in flat-screen TVs as Fabio Capello’s boys prepare to do battle in South Africa.
UU sells non-regulated water interests
Monday 14 Jun 2010
UK utility company United Utilities (UU) is to offload its principal non-regulated water interests in the United Kingdom and Europe to Veolia Water UK.
BP spill cost tops £1bn
Monday 14 Jun 2010
The oil disaster in the Gulf of Mexico has now cost BP £1.1bn ($1.6bn) and the pressure on the oil giant is likely to intensify over the next few days as Barack Obama prepares to the American people to prepare them for the worst.
Resolution confirms Axa talks
Monday 14 Jun 2010
Life insurer Resolution suspended its shares this morning as it confirmed it is in discussions to buy AXA's UK life assurance businesses for £2.75bn and integrate them with its Friends Provident business. Resolution will raise £2bn from a pre-emptive rights issue, issue £0.5bn of Deferred Consideration Notes to AXA and pay the rest with bank debt.
BP needs to rethink strategy
Saturday 12 Jun 2010
The strategic plan announced by beleaguered oil giant BP in early March is probably nestling in the bottom of a shredder at the company’s HQ but it is instructive to look at in terms of determining whether BP can survive the Gulf of Mexico oil spill disaster or, indeed, whether it contributed to it.
BP effect spills far and wide
Friday 11 Jun 2010
Partnering with the biggest operator in the Gulf of Mexico must have seemed like a good idea at the time.
Hunt's media vision gets mixed reception
Friday 11 Jun 2010
New culture secretary Jeremy Hunt’s decision to halt funding for three consortia that won licenses for regional TV news pilots was bad news for the companies involved, but the media sector can still take some comfort from his vision for the future.
Brit rejects bid but open to higher offers
Friday 11 Jun 2010
Brit Insurance confirmed it rejected a £10 per share offer from US private equity firm Apollo but did leave the door open by saying it was willing to discuss higher offers.
China rate rise unlikely
Friday 11 Jun 2010
China inflation figures today surpassed the government’s target but a rise in interest rates seems unlikely.
World Cup effect kicks in
Friday 11 Jun 2010
The World Cup is underway and, apart from the usual demand for plastic England flags, retailers have been doing a roaring trade in flat-screen TVs as Fabio Capello’s boys prepare to do battle in South Africa. Despite the inevitable tearful ending, millions of us will be glued to our sets for the next month, hoping that England can replicate their World Cup success 44 years ago.
Brit Insurance rejects bid approach
Friday 11 Jun 2010
Brit Insurance last night rejected a £10 per share indicative takeover approach from US private equity firm Apollo saying it significantly undervalued the group.
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