Editor's Picks
AIG won't renegotiate Pru's bid
Tuesday 01 Jun 2010
Prudential’s bid for American International Group’s Asian business looks in disarray after the US insurer refused to renegotiate the $35.5bn offer down to $30.375bn. “The board of Prudential is considering its position,” read a short statement. Pru shareholders, already furious at the sky-high valuation, are threatening a revolt at next week’s EGM
AIG won't renegotiate Pru bid
Tuesday 01 Jun 2010
Prudential’s bid for American International Group’s Asian business looks in disarray after the US insurer refused to renegotiate the $35.5bn offer down to nearer $30bn.
SSE opts out of EDF auction
Tuesday 01 Jun 2010
Energy provider Scottish & Southern Energy (SSE) has decided not to splash out on acquiring a substantial stake in the electricity distribution networks currently owned by EDF Energy Networks.
BP shares hit by new failure to cap leak
Tuesday 01 Jun 2010
BP is moving forward with its latest attempt to stop the oil spillage into the Gulf of Mexico as the costs of the clean-up so far reach $1bn.
Ryanair storms back in to profit
Tuesday 01 Jun 2010
Irish no-frills airline Ryanair swung strongly back into the black last year and proposed a €500m special dividend with the possibility of another €500m in the three years time. Pre-tax profits for the year to March came in at €341 against a loss of €181m. Adjusted profits rose by 204% to €319m allowing for write-downs on its stake in rival Aer Lingus.
Pru's Asian adventure may end in tears
Friday 28 May 2010
Few things have ruffled life insurer Prudential in its 162-year history. It’s played a reasonably safe hand during most of that time, although it did get overexcited in 1998, setting up internet bank Egg.
BP's 'top kill' fails to stop Gulf leak
Friday 28 May 2010
BP's latest attempt to stop the oil pouring into the Gulf of Mexico has failed, the company has revealed. BP chief operating officer Doug Suttles said last night that the 'top kill' plans that saw golf balls, tyres and mud fired into the hole to try to plug the leak had made minimal impact."I don't think the amount of oil coming out has changed," Suttles said.
iPaid too much
Friday 28 May 2010
The iPad, the tablet computer from iPhone maker Apple, went on sale on Friday outside the US, to be greeted with a predictable frenzied response, not least from a media that never seems to tire of giving the company millions of dollars of free publicity.
Shell in $5bn US shale expansion
Friday 28 May 2010
Royal Dutch Shell has joined the rush to snap up US shale gas assets with the $4.7bn purchase of East Resources.
Consumer confidence dips in May
Friday 28 May 2010
The British consumer is becoming more concerned about the economic outlook, new figures show.
BP counts the cost
Friday 28 May 2010
Given that the oil leak in the Gulf of Mexico is a long way from being cleared up, it is perhaps a little hasty to start pondering how much BP will be out of pocket once the problem is resolved.
Prudential in talks to reduce AIA price
Friday 28 May 2010
Life group Prudential this morning confirmed talks over the terms of the purchase of AIG's Asian arm (AIA) have taken place and are continuing. Reports overnight said Tidjane Thiam (pictured), Pru's chief executive, was in the US trying to get the price of buying AIA deal reduced from $35.5bn to $30bn to head off a shareholder revolt that could scupper the deal completely
DMGT's regionals still squeezing out a profit
Thursday 27 May 2010
Local newspapers are in decline. Anyone who doubts this should look at recent trading updates from Johnston Press and Trinity Mirror, two of the biggest operators in the market.
BP's 'top kill' procedure is underway
Thursday 27 May 2010
BP shares rallied on reports its “top kill” programme has made progress in stemming the flow of oiI into the Gulf of Mexico, though the company itself made no comment. BP started the programme last night. “The procedure is intended to stem the flow of oil and gas and ultimately kill the well by injecting heavy drilling fluids through the blow out preventer on the seabed
Shoppers tighten their purse strings
Thursday 27 May 2010
Retail sales tumbled to a 14-month low in May, a “downside shock” and “jolt to growth hopes”, and shopkeepers don’t expect things to improve much short-term.
Spain approves austerity measures
Thursday 27 May 2010
Spain's parliament has narrowly passed a series of tough austerity measures sending both the euro and European stock markets higher.
JJB Sports sales up 7.5%
Thursday 27 May 2010
Sportswear retailer JJB Sports said like-for-like sales revenue in the first quarter was 7.5% higher than last year.
Ferrexpo to capitalise on market conditions
Thursday 27 May 2010
Iron ore producer Ferrexpo said sales demand this year has been very strong while the company has seen significant increases in average pellet prices. The company expects iron ore pellet prices will remain well above 2009 levels for the remainder of this year, while profitability should also be boosted by ongoing improvements in operating efficiency, notwithstanding higher cost pressures.
UK rates must rise sharply, OECD says
Wednesday 26 May 2010
The days of low interest rates in the UK will come to an end next year if the Bank of England follows the advice of the Organisation for Economic Co-operation and Development (OECD), which has urged the Bank to raise interest rates by three and a half percentage points over the next 18 months.
British Airways and Unite resume talks
Wednesday 26 May 2010
British Airways cabin crew union Unite and the airline will resume talks later today in an attempt to avert further strike action and disruption to travellers. Unite joint leader Tony Woodley said he hoped they could "pick up the momentum" from their last talks, but admitted it will "not be easy" to reach an agreement. The latest strike is now in its third day
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