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October 17, 2007
by Kay Murchie
The mining and resources group, Rio Tinto, achieved a near-record iron ore output in the third quarter but output was down across a whole range of other minerals and metals.
The iron ore production of 35.7m tonnes was up 2% compared with the previous year. The company said the programme to improve output at Pilbara was on target and planning was in progress for ...
by Kay Murchie
BAE Systems, the British defence and aerospace company, has announced that Mike Turner, chief executive, is to leave the company after 5½ years in the role and over 40 years within the company.
It is thought that Mr Turner fell victim to a boardroom coup. In August, he told reports that he had every intention of ...
October 16, 2007
by Stewart Douglas
The recent spate of Royal Mail postal strikes in the UK have led to a substantial proportion of small business owners losing faith in the service, according to a survey released today.
The survey conducted by the British Chambers of Commerce reflected the extent of the impact of the recent strikes on small businesses, projecting that some 55% would look to ...
by Stewart Douglas
The Internet Service Provider AOL has announced today it is cutting back on around 2,000 staff internationally to aid a redefinition of its business focus within the online media and advertising sector to provide greater long term dynamic stability.
The company has traditionally been associated with internet services such as physical connection of businesses and consumer browsers. However the last few years have ...
by Stewart Douglas
Swedish technology giant Ericsson has today announced a suprise profit warning in the wake of its third quarter forecast results, which are predicted to be much lower than previous period figures as a result of weak sales and cash flow problems throughout the year.
The announcement today saw share values in the technology group fall by over a quarter, to their lowest point ...
by Elaine Frei
Crude oil prices were higher yet again on Tuesday as West Texas Intermediate crude for November delivery added $1.31 to close at $87.44 per barrel on the New York Mercantile Exchange after going as high as $88.20 earlier to set a new all-time record.
Meanwhile in London, November contracts for Brent crude on the Intercontinental Exchange were 95 cents higher ...
by Elaine Frei
Wall Street dropped at midday as crude oil prices continued to rise and housing sector problems continued to produce negative comments and bad news. At mid-session, the Dow Jones Industrial Average was 0.5 percent lower to 13,914.65, while the Nasdaq Composite dropped 0.23 percent to 2,773.78 and the S&P 500 fell 0.52 percent to 1,540.7. House builders ...
by Kay Murchie
In the build-up to the Christmas period, Marks & Spencer is appointing 18,000 temporary staff in Britain and Ireland as part of a nationwide recruitment drive.
Marks and Spencer’s Retail Director, Guy Farrant, commented that the group wants its customers to have a great shopping experience. A warm welcome will be provided in each of its stores and customers can ...
by Kay Murchie
Whitebread has exceeded forecasts after posting a 13% increase in first-half profit and said its second half had started positively.
The group, which manages popular brands in hotels, restaurants and health and fitness clubs, including Premier Travel Inn, Brewers Fayre, Beefeater and Costa Coffee, announced today that profit before tax and one-off items was £99.4 million from continuing operations in the half ...
by Kay Murchie
Bellway, the low-cost housebuilder, has announced a 6.4% increase in annual profits today.
Bellway reported pretax profit for the year to the end of July at a record high of £234.8 million pounds as revenue increased 9.2% to £1.35 billion. The property developer also said that its order book of £667 million compared satisfactorily with the previous year.
The company also announced ...
October 15, 2007
by Stewart Douglas
Ford Motors have today announced they would be prepared to sell off both their Land Rover and Jaguar brands over the course of the next two months, to one singular predator currently in advanced talks with the company.
The announcement from Ford Europe suggested that Ford is poised to sell their Land Rover and Jaguar brands over the coming months ...
by Stewart Douglas
Northern Rock has today put a dampener on renewed takoever hopes from the Virgin-led consortium, saying that negotiations with potential buyers are still within their early stages, thwarting the promise of a quick sell-off of the troubled bank.
The news saw a drop in Northern Rock share prices on the London Stock Exchange wiping much of last weeks share value gains, with investors losing ...
by Stewart Douglas
Airbus has today announced its first completed A380, the model that had been subject to delay and scandal just weeks ago. The announcement came with the delivery of the model to the Singapore national airway, over a year and a half after it was first scheduled to be delivered.
A range of problems, disruptions and delays to the production of the A380 jet ...
by Elaine Frei
West Texas Intermediate Crude oil for November delivery was at a new record high of $85.35 per barrel at 12:30 p.m. Eastern Daylight Time Monday and rose even higher to end floor trade at $86.13 per barrel, a gain of $2.44 on the session.
It was the first time WTI had breached the $86 per barrel level.
Meanwhile, Brent crude ...
by Elaine Frei
European markets declined on Monday. The FTSE Eurofirst 300 dropped 0.91 percent to 1,586.36. Madrid’s IBEX fell 0.48 percent to 15,187.5, while the CAC-40 was down 0.62 percent to 5,807.44 in Paris and Frankfurt’s Dax was 0.89 percent lower to 7,969.47. Luxury goods makers, utilities, and the oil sector saw gains. Meanwhile carmakers, tire manufacturers and airlines saw ...
by Kay Murchie
The fund-management group, Schroders, is preparing to move into India in the latest phase of its international expansion plans. It is believed the company is in discussions with a number of potential partners for the venture.
Schroders is well known in the Asia Pacific region, where it manages £29 billion in assets, approximately 25% of the company’s £137 billion funds under ...
by Kay Murchie
Shares in Rank Group collapsed 34p to 125 after warning that annual profits would be significantly down.
The Mecca bingo and Grosvenor casino owner saw £133 million wiped from its market value and said the smoking ban introduced on July 1 had discouraged customers, along with the loss of gaming terminals, required by the Gambling Act 2005 which commenced September 1.
The group ...
by Kay Murchie
A long-term joint venture is to take place between the Royal Bank of Scotland Group (RBS Group) and the British Chambers of Commerce (BCC). Together they will provide business development and financial services support to the small business sector.
RBS Group, which includes NatWest, Royal Bank of Scotland and Ulster Bank, will be the new main sponsor of ...
October 12, 2007
by Stewart Douglas
The UK music download industry has continued to grow over the course of this year, with experts predicting that the sales tally for 2007 could reach £160 million according to figures released today,
Figures released on behalf of music industry analysts Verdict showed a significant growth in the sale of music downloads and ringtones over 2007 compared with previous years, with the ...
by Stewart Douglas
The French Finance Minister has today faced questions as to the government's conduct in the allegations of insider trading at Airbus, which is alleged to have been lax in allowing suspicious share trades to go through uncontested.
Minister Christine Lagarde has today declared that the government had not acted in any way untoward in relation to the events that have led to accusations ...
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