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December 18, 2007
by Stewart Douglas
Virgin Media has today announced thousands of its 3.6 million of its broadband customers across the UK could have been hit by line failure following complications during the course of a maintenance project over the course of last night, leaving some 'thousands' with no access through today, in a move that looks set to prove highly damaging for the fledgling service provider.
The ...
by Elaine Frei
Tokyo’s equities markets were mostly lower on Tuesday on more data showing that the US economy is slowing down. The Nikkei 225 was down 0.27 percent to 15,207.86 and the Topix index fell 0.2 percent to 1,469.77. The Mothers market of small and mid-caps, however, added 2.1 percent to 800.61. Banks saw gains, but exporters were lower on ...
by Elaine Frei
Crude oil prices were lower Tuesday after tensions eased along the Turkey/Iraq border and ahead of Wednesday’s US inventories data.
West Texas Intermediate crude for January delivery dropped 33 cents to $90.30 per barrel on the New York Mercantile Exchange shortly before the close of floor trade, while Brent crude was down $1.31 to $89.98 per barrel on the ICE Futures Europe exchange in ...
by Elaine Frei
Japan’s yen declined in relation to a number of currencies on Tuesday after the European Central Bank put $500 billion into the banking system, sending investors back to risky carry trades.
Among the declines the yen dropped the most against the Brazilian real, trading at ¥62.605 to the real in early afternoon trade in New York, while it traded at ¥113.3200 to ...
by Kay Murchie
Cookson Group, the leading materials technology company, has announced today that its 2007 results should be at the top end of forecasts helped by strong growth in world steel production as it weathered the weak dollar.
The group, which is headquartered in London, said the negative currency translation impact of the weaker dollar in the second half year has been ...
by Kay Murchie
National Express Group, the bus and train operator, announced today that its 2007 results would be at the top end of market expectations after a strong second half.
The company announced like-for-like revenue growth of 11% on trains, 6% on buses and 6% scheduled coaches.
The company said it had delivered an 'exceptional operational performance' within the UK, where its sales had been boosted ...
by Kay Murchie
Character Group, which produces some of the best-selling toys in Britain including RoboSapiens, Scooby Doo and the Doctor Who range, said its sales between September and December will be 18% down compared with this time last year.
Furthermore, orders for December were 'nowhere near expectations'. Yesterday, shares in the group fell 61p to 77p, the lowest level for over a year.
The group ...
December 17, 2007
by Elaine Frei
Equities markets in the Asia-Pacific region were lower on Monday on concerns that growing inflation in the United States will cause the Federal Reserve to discontinue interest rate cuts and contribute to the slowing economy there. The Shanghai Composite was down 2.62 percent to 4,876.76 while South Korea’s Kospi index fell 2.91 percent to 1,839.82. The Straits Times index was ...
by Elaine Frei
Precious metals prices were mostly higher on Monday.
February gold was slightly higher, adding $1 to $799 per troy ounce after the dollar strengthened in relation to the euro.
January platinum added $24.40 to $1,503.60 per troy ounce on demand speculation after hitting a record high of $1,504 per troy ounce earlier in the session while earlier in the session March ...
by Stewart Douglas
Broadcasting giant BSkyB has been warned it could be subject to the scrutiny of the Competition Commission following its high profile snap acquisition of an 18% holding in ITV, which it is thought will be ruled to be against the interests of competition and hence struck down.
The warning comes following the delivery of the final report by the competition regulator into ...
by Stewart Douglas
Brewing giants Heineken and Carlsberg have been served with a put up or shut up notice by regulatory body the Takeover Panel today on the application of Scottish & Newcastle, following the ongoing speculation of their interest in acquiring the firm.
The two major brewing companies had been acting in consortium in the approach to takeover Scottish & Newcastle, ...
by Elaine Frei
Fears that trouble in the UK housing market could cause the Bank of England to cut interest rates again sent the pound lower on Monday after a report said that the average price of a house in the UK fell the most in five years this month.
The UK currency was at $2.0155 to the pound in late London trade but traded at ...
by Kay Murchie
GlaxoSmithKline's cervical cancer vaccine, Cervarix, faces a delay in the US as the federal Food and Drug Administration (FDA) has not issued approval for marketing but is requesting further information.
Glaxo is not disclosing what the outstanding questions are or how long they will take to answer.
Cervarix is one of Glaxo's biggest new drug hopes but will face a major setback if ...
by Kay Murchie
Shares in French Connection, the clothing retailer, closed up almost 25% last week valuing it at £120 million and making it one of the best performing small cap stocks in spite of the challenging retail environment.
A trader and an analyst said the increase in its share price was likely to be a takeover approach rather than an improvement in the trading environment. ...
by Kay Murchie
According to reports, Collins Stewart the British broker, has been approached by Japan's Nomura Holdings, Japan's largest brokerage.
Talks of a takeover are believed to be in the early phase and no formal offer has been made but it is understood that Nomura is interested in buying the Collins Stewart business in its entirety. Should a takeover go ahead, it will value ...
December 14, 2007
by Stewart Douglas
An Electrolux factory, situated in Durham, has made plans for a closure which will result in over 500 jobs being cut.
The factory, which is the main employer in the town of Spennymoor, decided that moving to Poland will be more beneficial for the company's future.
Electolux claims that the current site has made a loss in recent years due to a ...
by Elaine Frei
Corn prices over came early losses on the Chicago Board of Trade on Friday after the United States Senate passed a bill that will, if President George W. Bush signs it as promised, will quadruple biofuels production and use in the US over 15 years.
The House of Representatives is expected to approve the bill, which the Senate okayed ...
by Stewart Douglas
The leading German airline Lufthansa has today announced that it is to acquire just less than one fifth of the equity in JetBlue, the US-based no frills airline in a deal thought to be worth around $300 million, according to a statement released by the airline today.
According to a statement released today by both companies, the move will proceed as ...
by Elaine Frei
Most Asia-Pacific region equities markets were lower again on Friday after business confidence was reported down in Japan. The major exception to the declines was an advance by the Shanghai Composite, which added 1.01 percent to 5,007.91. The Sensex in India and the Straits Times index in Singapore each dropped 0.37 percent on the session, to 20,030.83 ...
by Elaine Frei
The US dollar was stronger Friday as analysts began to believe it is less likely that the Federal Reserve will send interest rates lower again in January after recent economic data looked like it might not support another rate cut right away.
In early afternoon trade the greenback was trading at $1.4449 to the euro, for a gain of 1.5 ...
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