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  • Executive pay deals waved through

    Wednesday 14 Jul 2010

    After the shenanigans at Tuesday’s annual general meeting (AGM) for British Airways Wednesday’s AGM for retailer J. Sainsbury was a relatively civil affair, although the thorny issue of executive remuneration raised its head, as expected. Chief executive Justin King, whose remuneration package last year has been calculated at almost £8m, was re-elected as a director with 98% of the vote,

  • MITIE still mighty despite squeeze

    Wednesday 14 Jul 2010

    Strategic outsourcing company MITIE provides cleaners, chefs, rat-catchers and other blue collar workers to businesses and government agencies.

  • Consumer confidence falls again in June

    Wednesday 14 Jul 2010

    Consumer confidence fell for the second straight month in June, a new survey from the Nationwide building society shows, suggesting that worries over the new government’s measures to tackle the deficit are growing.

  • UK job seekers total declines

    Wednesday 14 Jul 2010

    Hopes that the UK economy might avoid a double-dip recession were raised Wednesday as UK unemployment figures for June showed a decline in the number of people claiming jobless benefits.

  • US senators call for BP-Lockerbie link probe

    Wednesday 14 Jul 2010

    BP has delayed a pressure test on the newly installed well cap in the Gulf of Mexico while senators now want the US government to look into the company's activities in Libya. US senators last night called for a probe into whether BP pressed for the Lockerbie bomber to protect a lucrative deal with Libya.

  • Rio Tinto warns of further volatility

    Wednesday 14 Jul 2010

    This year continues to “shape up well” for Rio Tinto, but the mining heavyweight today warned investors to expect further volatility in commodity prices on fears of a double-dip recession and concerns about Chinese demand. In a second quarter update, chief executive Tom Albanese said operations are close to capacity and markets for most products are strong

  • Intel posts best quarter ever

    Tuesday 13 Jul 2010

    US stocks posted strong gains as the start of the results season gave investors optimism, with Intel posting its biggest quarterly profit in a decade.

  • Lights still out at Luminar

    Tuesday 13 Jul 2010

    Reporting its full year results earlier this year, nightclub operator Luminar set out a plan to reverse sliding sales that involved improving its music and drinks range, making clubs more trendy and making the company leaner.

  • Abu Dhabi mulls investment in BP

    Tuesday 13 Jul 2010

    Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed Al Nahyan said the emirate is considering making an investment in BP, according to press reports. “We are still thinking about it,” he was quoted by Bloomberg as saying when asked about buying a stake in the firm. “We are looking across the board. We have been partners with BP for years.”

  • Inflation eases in June

    Tuesday 13 Jul 2010

    Consumer price inflation (CPI) eased towards the Bank of England’s target level of 2% in the year to June. helped by lower petrol prices.

  • Northern Foods sales dip in challenging markets

    Tuesday 13 Jul 2010

    Northern Foods' sales fell in the first quarter as good growth in chilled foods could not offset falls in the bakery and frozen divisions.

  • Cranswick sales surge forward

    Tuesday 13 Jul 2010

    Bacon, pork and sausages specialist Cranswick lifted sales by 19%, to £198m, in the last three months, with organic growth up by 6% and 13% coming from acquisition CCF Norfolk.

  • BP installs new cap on leaking well

    Tuesday 13 Jul 2010

    Hopes are rising BP is near to stemming the flow of oil spilling into the Gulf of Mexico after a new 75-tonne steel cap was lowered over the damaged well late last night. Reports suggested that for a brief period shortly after the new cap was installed oil stopped leaking from the Macondo well, though it resumed soon after through a valve to relieve a pressure build-up.

  • Kier not fazed by schools cutbacks

    Monday 12 Jul 2010

    Housebuilder and contractor Kier's full year underlying profit before tax will be towards the upper end of current market expectations and ahead of last year.

  • UK economy shrank 6.4% during recession

    Monday 12 Jul 2010

    The UK economy shrank by more than was previously estimated during the recession, according to new figures from the Office of National Statistics (ONS).

  • Domino's could be in for a fall

    Monday 12 Jul 2010

    Domino’s Pizza has been a strong performer during the tough times of the past couple of years.

  • BP clean-up costs hit $3.5bn

    Monday 12 Jul 2010

    BP said the cost of the clean-up in the Gulf of Mexico now amounts to $3.5bn, up from $3.12bn a week ago and $2.65bn two weeks ago.

  • Kent Reliance confirms Flowers deal

    Monday 12 Jul 2010

    Building society Kent Reliance has confirmed talks are underway with US private equity firm JC Flowers, which intends to use it to create a new force in UK high street banking. Flowers will invest £50m for a 49% stake in a new holding company. Under the deal, the building society will remain a mutual, with Kent Reliance members owning 51% of the new structure

  • Acquisition vehicles flock to the market

    Friday 09 Jul 2010

    A number of well-known City grandees have recently been listing acquisition vehicles on the London Stock Exchange to take advantage of cheap assets in the aftermath of the financial crisis. A new bid vehicle that plans to take over taxpayer-controlled banking assets such as Northern Rock could float on the AIM by the end of the month.

  • Cable may have blown it, say electric carmakers

    Friday 09 Jul 2010

    Electric cars have come a long way in the past decade. No longer the poor relation to their petrol driven cousins, they can travel hundreds of miles without recharging and do 0-60 in under 4 seconds.

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