Editor's Picks
SABMiller volumes hit by weakening demand
Thursday 16 Apr 2009
Brewing giant SABMiller reported a 1% drop in lager volumes in the fourth quarter as economic conditions deteriorated and consumer demand fell in most of its markets. Expectations were for a 1% rise. Lager volumes for the full year were 2% ahead of the prior year and level on an organic basis. Soft drinks volumes for the full year grew organically by 5%.
Buyers circle as house prices tumble 12.3%
Wednesday 15 Apr 2009
House prices slumped by 12.3% in the year to February, worse than the 11.5% slide reported the month before, government data revealed Wednesday, although interest from potential buyers has risen for the fifth month in a row. The average cost of a home fell to £189,813 in the three months to February, according to the Department of Communities and Local Government (DCLG)
UBS predicts loss and big job cuts
Wednesday 15 Apr 2009
Swiss bank UBS expects to lose almost 2 billion Swiss francs (£1.2bn) in the first quarter and axe 8,700 jobs by the end of next year as it looks to make big cost savings “in all areas”.
UBS predicts loss and big job cuts
Wednesday 15 Apr 2009
Swiss bank UBS expects to lose almost 2 billion Swiss francs (£1.2bn) in the first quarter and axe 8,700 jobs by the end of next year as it looks to make big cost savings “in all areas”.
UBS predicts loss and big job cuts
Wednesday 15 Apr 2009
Swiss bank UBS expects to lose almost 2 billion Swiss francs (£1.2bn) in the first quarter and axe 8,700 jobs by the end of next year as it looks to make big cost savings “in all areas”.
Atkins sees in line figures, cuts 1,200 jobs
Wednesday 15 Apr 2009
Engineering consultant Atkins made 1,200 redundancies in the previous quarter and said it expects pre-tax profit for the year will be in line with expectations.
Trading picking up at Marston's
Wednesday 15 Apr 2009
Real ale brewer and pubs operator Marston’s said trading has seen a modest improvement since the end of January.
Aluminium output down 6% at Rio Tinto
Wednesday 15 Apr 2009
Rio Tinto, the world's third largest miner, has blamed a 6% drop in first quarter aluminium output on production cutbacks in response to a sharp fall in demand. Heavy rains and falling demand also caused a 15% slump in iron ore production. The company faces shareholders in London later today, angry at Rio’s controversial fundraising plans that could see their stakes diluted.
Mortgage lending creeps higher
Tuesday 14 Apr 2009
The number of loans for home purchases jumped 4% in February from the month before, according to new data from the Council of Mortgage Lenders (CML).
Mortgage lending creeps higher
Tuesday 14 Apr 2009
The number of loans for home purchases jumped 4% in February from the month before, according to new data from the Council of Mortgage Lenders (CML).
Mortgage lending creeps higher
Tuesday 14 Apr 2009
The number of loans for home purchases jumped 4% in February from the month before, according to new data from the Council of Mortgage Lenders (CML).
Obama and Bernanke see signs recession is easing
Tuesday 14 Apr 2009
President Obama and Federal Reserve chairman Ben Bernanke both think the harsh US recession may be starting to ease. In a speech to students at Atlanta's Morehouse college, Bernanke said: “Recently we have seen tentative signs that the sharp decline in economic activity may be slowing, for example, in data on home sales, homebuilding and consumer spending, including sales of new motor vehicles.”
Sibir says no offer from TNK-BP
Tuesday 14 Apr 2009
Russian energy firm Sibir Energy said it has not received an offer from BP’s Russian joint venture TNK-BP.
Goldman results spur bank sector rally
Tuesday 14 Apr 2009
US banking giant Goldman Sachs added to optimism that we're through the worst of the credit crunch as it posted first quarter earnings ahead of expectations and announced plans to raise cash to pay back a $5bn (£3.4bn) government loan. The news sent bank shares soaring across Europe, with Barclays, Lloyds Banking and Royal Bank of Scotland all boasting chunky gains in London
Regional cities take unemployment hit
Tuesday 14 Apr 2009
Birmingham, Liverpool and Hull are among the cities outside the capital worst affected by the rise in unemployment, a study by the Work Foundation indicates.
Qantas slashes forecast, jobs to go
Tuesday 14 Apr 2009
Australia’s Qantas Airways slashed its profit forecast by more than a half due to tough trading conditions and warned more jobs are to go as it tries to cope with the economic downturn.
Goldman Sachs to repay TARP after strong results
Tuesday 14 Apr 2009
US banking giant Goldman Sachs added to optimism that we are through the worst of the credit crunch as it posted first quarter earnings ahead of expectations and announced plans to raise cash to pay back a government loan. Goldman said it would use the $5bn(£3.4bn) it raises to pay back money it was lent as part of the Troubled Asset Relief Programme announced by the US government last year.
Interest in RBS Pakistan mounts
Tuesday 14 Apr 2009
The race for Royal Bank of Scotland's Pakistan business is gathering pace with a number of local parties interested.
Small caps embarrass the big boys
Monday 13 Apr 2009
Investors have had little to cheer about over the past three months as the recession continues to blast stock markets, although a number of the smaller fish have enjoyed spectacular success. The FTSE 100 was down 13% at the end of play Wednesday from 4,505 three months earlier, although it had been 1,000 points, or 22%, lower at the start of this month.
Coca-Cola is Innocent, OK?
Saturday 11 Apr 2009
The decision by Innocent Drinks, the ‘right-on’ fruit smoothie drinks firm, to sell a minority stake in the company to Coca-Cola raised a few eyebrows, but the company is just treading a well-worn path travelled by ethically conscious companies seeking greater commercial success.
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