Editor's Picks
Companies look forward with cash calls
Thursday 21 May 2009
The rash of cash calls that has dominated the first five months of 2009 continues, but this week there was a subtle change in emphasis from the companies raising money.
British Airways slides into losses
Thursday 21 May 2009
British Airways said it will focus on cutting capacity and keeping a lid on costs after weak economic conditions and high fuel costs sent the airline tumbling into the red in the year to March 31. BA posted a pre-tax loss of £401m, compared with a profit of £922m over the previous year. Revenue climbed to £8.99bn from £8.76bn.
Marston’s sees 'modest' improvement in trading
Thursday 21 May 2009
Pub group and real ale brewer Marston’s reported a 21% drop in half-year pre-tax profit but said it is encouraged by the modest improvement in trading since mid-February.
Core brands keep drinks groups fizzing
Wednesday 20 May 2009
The exotic array of soft drinks available to consumer has probably never been wider, but judging by two company updates today, thirsty but cash-strapped drinkers are turning back to the fizzy favourites they know and love.
Core brands keep drinks groups fizzing
Wednesday 20 May 2009
The exotic array of soft drinks has probably never been wider, but judging by two company updates today, thirsty but cash-strapped consumers are turning back to the fizzy drinks they know and love.
June 5 is decision day for Lloyds' shareholders
Wednesday 20 May 2009
Lloyds Banking Group shareholders will have until noon on 5 June to decide whether to participate in the bank’s placing and compensatory open offer.
New 95% deal offers lifeline to first-time buyers
Wednesday 20 May 2009
A new 95% mortgage deal unveiled this week offers new hope to first-time buyers as signs of green shoots continue to emerge for the housing market.
Britvic upbeat as Brits drink more
Wednesday 20 May 2009
Soft drinks supplier Britvic shrugged off a profits collapse in Ireland to lift underlying interim profits by over 16% as sales in the UK gathered momentum.
June 5 is decision day for Lloyds' shareholders
Wednesday 20 May 2009
Lloyds Banking Group shareholders will have until noon on 5 June to decide whether to participate in the bank’s placing and compensatory open offer.
De La Rue ups divi by 90% as margins climb
Wednesday 20 May 2009
Recession has not yet dented demand for for banknotes with specialist printer De La Rue upping underlying profits by over 18% last year and its dividend by 92%. Profits rose by 18.5% to £105m, excluding a pension supplement of £15m and other one-offs of £4.5m, and from £91.2m to £96.1m if those are included. Revenues for the year to March rose by 7.6% to £502m.
June 5 is deadline day for Lloyds share offer
Wednesday 20 May 2009
Lloyds Banking Group shareholders will have until noon on 5 June to decide whether to participate in the bank’s placing and compensatory open offer. Qualifying shareholders, i.e. those who acquired shares before 8:00am on Wednesday, 20 May, will be able to subscribe for 0.6213 new ordinary shares for every ordinary share currently held at an offer price of 38.43p per share.
International sales lift Mothercare profits
Wednesday 20 May 2009
Baby care retailer Mothercare hiked dividends by 20% as full-year profits surged ten-fold following record performance from its international division. Pre-tax profits jumped to £42.2m from £4.5m last year on revenue that increased 6.9% to £723.6m. Total dividend was raised 20.8% to 14.5p. Like-for-like sales growth in the UK was 1.4% and in International up 6%.
Dairy Crest cost-cutting spares Johnny Rotten
Tuesday 19 May 2009
Dairy Crest may be reducing its dividend, but the milk, butter and cheese supplier is unlikely to cut back on an advertising budget that has most recently been used to pay former Sex Pistols front man John Lydon to trash rival butters.
Shell shareholders revolt over executive pay
Tuesday 19 May 2009
Shareholders gave Shell a piece of their mind at today’s annual meeting, with almost 60% voting against the oil giant’s executive wage plan.
Vodafone sees lower profits in 2010
Tuesday 19 May 2009
Heavy one-off charges, principally in Spain slashed mobile phone Vodafone's annual profit, though the underlying numbers met forecasts.
Car scrappage scheme starts with a bump
Monday 18 May 2009
The government's car scrappage scheme, which came into force today, has already veered off track after Ford and Honda delayed the start of their involvement in the initiative.
Daniels in spotlight after Blank exit
Monday 18 May 2009
Sir Victor Blank's decision to stand down as chairman of Lloyds Banking has raised serious questions about the future of chief executive Eric Daniels.
Asking prices jump on supply shortage
Monday 18 May 2009
UK house prices rose for the fourth month in a row in May to an average £227,441 after new sellers pushed up asking prices by 2.4%.
TUI Travel hit by sterling weakness
Monday 18 May 2009
Package tour giant TUI Travel saw operating losses widen at the interim stage, due to the weakness of sterling and the timing of Easter this year.
Monday newspaper round-up: Lloyds Banking, Shell, BT
Sunday 17 May 2009
The departure of Sir Victor Blank has opened the floodgates on City demands for Lloyds Banking Group to unwind its fateful merger with HBOS which led to the chairman's downfall.
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