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November 28, 2007
by Kay Murchie
Yesterday, 3 profit warnings were issued by Pendragon, Signet and Sports Cafe Holdings which shocked investors and spark concerns of a significant slowdown in consumer spending following the credit squeeze.
Pendragon, whose near-400 UK dealerships trade under names such as Evans Halshaw and Stratstone, said the highly competitive new car market had forced down the price of used cars.
Furthermore, it suffered ...
November 27, 2007
by Stewart Douglas
California based search engine giant Google has today announced it intends to invest substantially in the development of sustainable energies in a bid to help secure the future of the environment, through its charitable arm 'Google.org'.
The world's largest search engine and online advertising services provider has today announced that it is directing hundreds of millions of dollars towards the development of new ...
by Stewart Douglas
Management at the underfire airplane manufacturer EADS have today been unveiled as having had knowledge of the factors interrupting the launch of the Airbus A380 model prior to offloading their shares, which could pave the way for insider dealing charges against those involved.
The allegations come following a high profile investigation into what have been described as 'irregular' share trading patterns, which ...
by Elaine Frei
West Texas Intermediate crude January contracts fell $3.28 to $94.42 per barrel at the close of trade on Tuesday on the New York Mercantile Exchange, almost $5 lower than record highs above $99 per barrel set last week.
The steep decline came ahead of a meeting of OPEC oil ministers next week where analysts believe the cartel will decide to hike ...
by Elaine Frei
After significant gains in most equities markets on Monday, most Asia-Pacific region indices showed declines on Tuesday. There were exceptions. South Korea’s Kospi index added 0.24 percent to 1,859.79, while Tokyo’s markets were higher as the yen weakened in response to a weakening of the yen versus the US dollar. The Nikkei 225 gained 0.58 percent to 15,222.85 ...
by Elaine Frei
The US dollar stood at $1.4819 to the euro in early afternoon trade in New York on Tuesday, gaining on the shared currency as many traders felt that the euro has become overvalued.
In addition the euro traded at €1.3938 to the pound while it took ¥160.9545 to buy a euro.
Meanwhile, the European Union announced that Cyprus and Malta will become the fourteenth and ...
by Kay Murchie
After the cost of dealing with the summer floods, Severn Trent has made a pre-tax profit of £149.5 million in the half year to 30 September, down 6.4% compared with the same period 12 months ago.
Severe flooding affected the regions of Tewkesbury, Gloucester and Cheltenham and cost the group £23.2 million. It hopes to be able to reclaim between ...
November 26, 2007
by Elaine Frei
European markets were lower on Monday, largely on concerns that all the damage from the subprime crisis has not yet fully been revealed. The FTSE Eurofirst 300 was down 0.57 percent to 1,467.73. The IBEX was 0.4 percent lower to 15,330.2 in Madrid while the Dax fell 0.55 percent to 7,567.36 and the CAC-40 dropped 1.14 percent to ...
by Stewart Douglas
A government backed Dubai-based investment firm has today announced it has acquired a 'substantial' holding in technology giant Sony, despite the fact that there have as of yet been no reports filed with industry regulators - a legal requirement for purchases of over 5% equity.
The investment fund Dubai International Capital refused to disclose the exact value of its investment, although ...
by Elaine Frei
Precious metals prices were mixed on Monday.
December gold added $1.80 to $826.50 per troy ounce after going as high as $832 per troy ounce during the session as the US dollar weakened yet again while December silver added 10 cents to $14.83 per troy ounce.
On the other hand, January platinum dropped $11.90to $1,468.60 per troy ounce and December palladium fell $2.40 ...
by Stewart Douglas
Luxury car manufacturer Jaguar has today released the first of its new XF models which will replace the legendary S-Type, in a symbolic statement that local communities hope will save hundreds of jobs over the coming years at the firm's UK plants.
The XF model, designed as the next generation of luxury saloon for the company has begun its manufacturing ...
by Elaine Frei
Sterling gained on the US dollar on Monday as speculation increased that the Federal Reserve will cut US interest rates again before the end of the year while the Bank of England is widely expected to keep rates on hold at least for the time being.
In afternoon trade in New York a pound was worth $2.0688, while it took €1.3923 to buy a ...
by Kay Murchie
Punch Taverns is proposing a surprise offer for its competitor Mitchells & Butlers (M&B). If the deal goes ahead, it will create Britain's biggest pubs group worth £4.9 billion with over 11,000 pubs.
It is believed that Punch, the largest pub and bar operator in the UK, is exploiting the pressure M&B is under from shareholders, including Robert Tchenguiz and ...
by Kay Murchie
Employees at airports operated by BAA are to ballot for strike action later this month which could mean severe disruption to tens of thousands of Britons planning to fly in the new year.
Members of the Unite union, which include firefighters, security, maintenance and administration staff at major UK airports such as Heathrow, Gatwick and Aberdeen, are ...
by Kay Murchie
According to the British Retail Consortium, England's failure to qualify for the European Championship next year will mean England's economy is likely to suffer losses of around £2 billion.
The retail figures for alcohol, fast food and flat-screen TV's during the championship would be approximately £600 million. However, this amount was brushed off by experts who said £2 billion ...
by Kay Murchie
Airbus, the European aircraft manufacturer, has warned that the weak dollar could send it bankrupt. The firm said it could not afford investments set for 2008. Furthermore, the group is axing 10,000 French jobs with fears rising that British jobs are at risk. It has 13,000 UK staff in Broughton, North Wales and Filton, near Bristol. Unions have vowed to fight ...
November 23, 2007
by Stewart Douglas
The firm of lawyers representing aggreived shareholders in the scandal-ridden Enron collapse to a $7.2 billion could today be in line for an award of legal fees in their favour to the tune of $700 million, pending an awards decision in relation to the case.
Law firm Coughlin Stoia Geller Rudman and Robbins were responsible for leading the case against banks and investment groups thought to have ...
by Stewart Douglas
Technology company Samsung could be subjected to further scrutiny over allegations of corruption following a decision by the South Korean parliament to allow investigations to continue into certain of the company's dealings.
The technology giant, now widely considered a market leading force within many of its core domains, has been accused of bribing public officials and high ranking police officers not to investigate certain ...
November 22, 2007
by Stewart Douglas
Supermarket retailers Morrisons has today announced growth in revenues over the last few weeks as a result of an ongoing realignment and market strategy at the Bradford-based chain grocer, in a move that has seen them build upon previous week results.
Sales over the course of the last three months to the beginning of November were up by 3.7% overall, as indication of the ...
by Stewart Douglas
Europe's biggest airline Air France KLM has today unveiled a significant increase in profits over its second financial quarter, despite the impact of the rising cost of fuel to improve 100% on previous years' performance.
The pan-European airline enjoyed an increase in net profits up almost 100% on last year to 735million euros for the second financial quarter, with revenue coming in at ...
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