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  • Pace enjoying 'exceptionally positive situation'

    Wednesday 08 Apr 2009

    Digital TV technology firm Pace sprinted higher Wednesday morning after it said full-year results for 2009 are expected to be away ahead of management's expectations. In the last month demand for the company’s products has accelerated, with Pace increasingly becoming the supplier of choice for many of its payTV operator customers.

  • Heritage Oil exits Oman

    Wednesday 08 Apr 2009

    Heritage Oil, the oil exploration and production company, has sold its Eagle Energy (Oman) subsidiary. The company has received $28m in cash for Eagle Energy from RAK Petroleum Oman. Eagle Energy owns a 10% stake in Block 8, Oman. Heritage’s oil reserves will be reduced by 2% as a result of the sale.

  • PZ Cussons scrubs up well

    Wednesday 08 Apr 2009

    Imperial Leather soap maker PZ Cussons said recent trading had been in line with expectations, with revenue growth continuing in its UK and Nigerian markets.

  • William Hill cash call receives 97.4% acceptances

    Wednesday 08 Apr 2009

    Bookmaker William Hill said its recent rights issue had been taken up by about 97.4% of shareholders as of yesterday. In February William Hill confirmed a £350m rights issue as part of a £840m refinancing that will also see the final dividend scrapped.

  • Autonomy's earnings "significantly" better than forecasts

    Wednesday 08 Apr 2009

    Data search software giant Autonomy's first quarter 2009 results will be ahead of forecasts, with underlying earnings "significantly ahead". Revenues are expected to be between $128m and $130m, versus analyst consensus revenue estimates of $126m. Fully diluted EPS (adjusted) is expected to be significantly ahead of analyst consensus estimates of 15c, the statement added.

  • FDA gives boost to Astra's Seroquel

    Wednesday 08 Apr 2009

    The US Food and Drug Administration (FDA) has found that drug giant AstraZeneca’s schizophrenia drug Seroquel XR is “acceptably safe” for treating patients with depression.

  • Taylor Wimpey finally agrees debt deal

    Tuesday 07 Apr 2009

    Shares in Taylor Wimpey rallied after the heavily indebted housebuilder said it has reached a refinancing agreement after months of negotiations.

  • RBS to axe another 9,000 jobs

    Tuesday 07 Apr 2009

    As many as 9,000 staff at Royal Bank of Scotland face the axe, half of them in the UK, the part-nationalised lender has announced. The losses will affect the manufacturing division, which includes back office, purchasing, IT services, and property management, where 45,000 are currently employed worldwide and 27,000 in Britain. RBS has already cut 2,700 UK jobs so far this year.

  • US jet plans boost defence stocks

    Tuesday 07 Apr 2009

    News of increased US spending on fighter jets has sent defence stocks to the top of the FTSE 100 leader board.

  • Sibir launches proceedings, share manipulation

    Tuesday 07 Apr 2009

    Russian energy firm Sibir Energy has launched High Court proceedings against two of its former directors over unauthorised payments.

  • Water firms set to hike prices

    Tuesday 07 Apr 2009

    Severn Trent Water has submitted its final business plan to Ofwat for the period 2010-15, with the average household bills set to rise by 4% in real terms, or 0.8% a year, by the end of the period.

  • PartyGaming settles with US authorities for $105m

    Tuesday 07 Apr 2009

    PartyGaming has reached an agreement with the United States authorities that will protect the online gaming group from being prosecuted for providing internet gambling services to customers in the region. The group said it has agreed to pay $105m, in semi-annual instalments over a period ending on 30 September 2012

  • Ford slashes debt by $9.9bn

    Monday 06 Apr 2009

    Carmaker Ford shifted up a gear Monday on news it has completed its debt restructuring initiative which will slash debt by about $9.9bn, or 38%.

  • Business confidence on the up

    Monday 06 Apr 2009

    With the globe in the grip of its worst recession for decades, it’s no surprise to hear that business confidence remains weak, although surveys out today reveal signs of optimism.

  • Slide in car sales prompts call for scrappage plan

    Monday 06 Apr 2009

    UK car sales have dropped by 30.5% in March, prompting the industry to renew calls for a car scrappage scheme.

  • Monday newspaper round-up: Darling ready for drastic growth revisions

    Friday 03 Apr 2009

    Alistair Darling is preparing the ground for drastic revisions of his growth and borrowing forecasts in the Budget, raising the prospect of further deferred tax rises to balance the books.

  • Easyjet chairman resigns, BT's Rake deputy chairman

    Friday 03 Apr 2009

    No frills airliner Easyjet announced the resignation of chairman Colin Chandler and appointed Michael Rake, currently chairman of BT Group, as deputy chairman.

  • Cranswick buys Bowes for £17m

    Friday 03 Apr 2009

    Sausages and pork products producer Cranswick has boosted its presence in the UK pork processing market with the £17.2m acquisition of Bowes of Norfolk

  • HSBC rights take-up is 96.6%, places rump

    Friday 03 Apr 2009

    Bank HSBC said it has received 96.6% acceptances for its record £12.9bn rights issue and found buyers for the unsold stock. The group has placed 4.8bn shares with existing shareholders, while the remaining 172.7m (3.4%) of new shares have been found a new home at 448p or HK$51.83 each. It said the rights issue will strengthen its capital ratios.

  • House prices fall £3k in March, says Halifax

    Friday 03 Apr 2009

    House prices fell 1.9% in March, according to the Halifax, backing up concerns that yesterday’s unexpected increase reported by the Nationwide was a one-off.

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