Editor's Picks
Bernanke sees recovery this year
Tuesday 05 May 2009
The US economy is bottoming out and is likely to recover later this year, Federal Reserve chairman Ben Bernanke said on Tuesday.
Bernanke sees recovery this year
Tuesday 05 May 2009
The US economy is bottoming out and is likely to recover later this year, Federal Reserve chairman Ben Bernanke said on Tuesday.
RBS clears out Goodwin era remnants
Tuesday 05 May 2009
Gordon Pell and Alan Dickinson, the last of the executive team that under chief executive Fred Goodwin brought the now state-owned Royal Bank of Scotland to its knees, are to depart the group.
Construction slowdown eases again
Tuesday 05 May 2009
The state of Britain’s construction industry improved for the second month in a row in April, although the sector is still in sharp decline.
RBS FD Guy Whittaker to step down in October
Tuesday 05 May 2009
Royal Bank of Scotland today confirmed that finance director, Guy Whittaker, will step down from the board in October.
UBS loses another £1.2bn
Tuesday 05 May 2009
Swiss bank UBS confirmed today it lost nearly 2bn Swiss francs (£1.2bn) in the first quarter of 2009 and warned that loan losses may continue to grow.
Obama targets offshore tax havens
Tuesday 05 May 2009
Offshore tax havens are in the sights of President Obama, who has proposed closing tax loopholes relating to cash held in offshore accounts. Hailing the proposals as the first steps in a campaign to fix what he termed a broken tax system Obama said multi-national companies paid an average tax rate of just 2% on their foreign revenues.
Fill up on oil for income
Friday 01 May 2009
Income investors will have been drooling at the 8% yield offered by BP this week after the oil giant bumped up its first quarter payout by a massive 40% in sterling terms.
Banks drive hard bargain at Pendragon
Friday 01 May 2009
Car dealer Pendragon’s £530m very expensive–looking refinancing today is illuminating on a couple of fronts.
Disappointing March hits 888 profits
Friday 01 May 2009
Online gaming group 888 posted a 4% fall in operating income between the final quarter of last year and the first quarter of this year due to a decline in business-to-customer income.
Informa joins other tax exiles
Friday 01 May 2009
Business publisher Informa has today become the latest British company to announce it is moving its tax domicile overseas.
Investors becoming selective on cash-calls
Friday 01 May 2009
With DSG becoming the latest to go to its shareholders for extra cash, there are suggestions that investors are becoming more selective about certain cash-calls.
Commodities strength pulls miners higher
Friday 01 May 2009
The mining sector has enjoyed a good run of gains over the past month, despite the fact that commodity prices have started to fall back from the highs posted in March. The Reuters CRB Index has traded sideways since posting highs around 229 in late March. It has found support at the 50 day moving average currently around 217, finding support there on at least 4 occasions over the last month.
Informa to escape clutches of UK taxman
Friday 01 May 2009
Business publisher Informa is to raise £242m by means of an underwritten rights issue and announced plans to restructure so it can be tax resident in Switzerland.
BAA passenger numbers fall by 10%
Friday 01 May 2009
Passenger numbers through BAA's London airports tumbled by 10% in the three months to March, with the Heathrow and Gatwick owner warning that the rest of the year will also be difficult. "Today's results were delivered in the most difficult economic circumstances, but are in line with our expectations," chief executive Colin Matthews said.
Informa to escape clutches of UK taxman
Friday 01 May 2009
Business publisher Informa is to raise £242m by means of an underwritten rights issue and announced plans to restructure so it can be tax resident in Switzerland. The company intends to reorganise its corporate structure by creating a new parent company to be incorporated in Jersey. The parent company’s shares will be listed on the London Stock Exchange.
Chrysler files for bankruptcy, Fiat deal
Thursday 30 Apr 2009
President Obama has confirmed that Chrysler will file for bankruptcy today after talks with its smaller lenders came to nothing. Obama also announced that the struggling carmaker has agreed a deal with Fiat, which will give the Italian firm a 20% stake in Chrysler to start with and potentially rising later on.
Chrysler bankruptcy plan confirmed
Thursday 30 Apr 2009
A White House official has confirmed that struggling carmaker Chrysler will file for bankruptcy after talks with its smaller lenders came to nothing. The number three US auto firm will file for Chapter 11 protection and issue a statement later today. It’s thought the Obama administration's automotive task force held talks into the evening
BG operating profit down 9%
Thursday 30 Apr 2009
Oil explorer BG saw total operating profit for the first quarter slide 9% due to lower oil prices and production volumes.
DSG announces £300m fundraising
Thursday 30 Apr 2009
Electical goods retailer DSG International has announced a placing and rights issue to raise more than £300m.
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