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January 31, 2008
Google Reports Weaker Than Expected Results
Permalink: Google Reports Weaker Than Expected Results by Stewart Douglas
Search engine giants Google have today disappointed market analysts with weaker than expected quarterly results, just 24 hours after its closest rival Yahoo reported a similar slowdown in revenues as a result of the difficult market climate for advertising publishers in the wake of the US economic slowdown.
The results, which were ...
Volvo Convicted Of Manslaughter
Permalink: Volvo Convicted Of Manslaughter by Stewart Douglas
Swedish car manufacturing giants Volvo have today been found guilty of manslaughter in a French court following a ruling that a mechanical failure in a set of brakes were responsible for a fatal collision in 1999 which killed two young children, in a decision which sees a rare instance of successful corporate criminal ...
Platinum leads precious metals higher
Permalink: Platinum leads precious metals higher by Elaine Frei
Platinum hit a record high of $1,741 per troy ounce on Thursday before sliding back to $1,737.40 per troy ounce in New York, still a gain of $50 on the session.
The gains came after the South African state-owned electricity utility could not deliver as much power to mines in that country as ...
Asia-Pacific, European markets mixed on session
Permalink: Asia-Pacific, European markets mixed on session by Elaine Frei
Equities markets in the Asia-Pacific region were mixed on Thursday in the wake of Wednesday’s decision by the US Federal Reserve to cut US interest rates to 3 percent. Where gains came, they were on speculation that troubles for the US economy won’t hurt earnings in Asia too much. ...
Rand falls to dollar; yen sees gains
Permalink: Rand falls to dollar; yen sees gains by Elaine Frei
The South African rand dropped to a 5-month low versus the US dollar Thursdasy and fell against all major currencies after the South African Reserve Bank held the repurchase rate at 11 percent and on reports that inflation reached 8.6 percent there in December.
The rand was as low as 7.5576 ...
Record profits for Shell
Permalink: Record profits for Shell by Kay Murchie
Oil giant Royal Dutch Shell has announced record annual profits of $27.6 billion (£13.9 billion) for last year, however, fourth-quarter profit missed forecasts as a decline in production reduced the benefit of high oil.
In addition, the company reported higher-than-expected capital spending for 2007 and increased its budget for future years considerably, reflecting ...
January 30, 2008
Asia-Pacific equities lower on broker comments, forecast cuts
Permalink: Asia-Pacific equities lower on broker comments, forecast cuts by Elaine Frei
Asia-Pacific equities were lower Wednesday on reduced broker recommendations for Korean shipbuilders and after a Japanese power company cut its profit forecast and it was anticipated that others would do so as well. The Taiex was down 0.43 percent to 7,543.5 while the Shanghai Composite fell 0.9 percent ...
WTI up on rate cut, equities gains
Permalink: WTI up on rate cut, equities gains by Elaine Frei
Crude oil prices gained on the session Wednesday after the Federal Reserve cut US interest rates to 3 percent, although some analysts made the distinction that the gains were not due to the Fed’s decision itself, but came after equities markets gained on the news.
West Texas Intermediate crude for March ...
Dollar steady against euro ahead of Fed decision
Permalink: Dollar steady against euro ahead of Fed decision by Elaine Frei
The US dollar held relatively steady against the euro, trading at $1.4805 to the euro ahead of the Fed‘s decision to cut interest rates to 3 percent as investors tried to figure out what conflicting reports on the US economy meant.
The Commerce Department reported that the US economy grew by only 0.6 percent in the fourth ...
O2 Announces iPhone Contract Overhaul
Permalink: O2 Announces iPhone Contract Overhaul by Stewart Douglas
UK Apple iPhone operator O2 has today announced it is to radically overhaul its tariff structure over the coming few weeks just three months after the product's UK launch, fuelling speculation of sluggish sales and poor performance nationwide.
The new tariff structure to be introduced by O2 will see a threefold increase in ...
Yahoo Profits Fall Further
Permalink: Yahoo Profits Fall Further by Stewart Douglas
Internet search giant Yahoo have today announced a strong decline in profitability over the last three months, following tougher conditions for its advertising-driven business model amidst the current market climate and declining market share against its leading competitor Google.
Profits were down by 23% when compared to last year's results, reflecting a decline ...
Fund managers named and shamed
Permalink: Fund managers named and shamed by Kay Murchie
According to research from Bestinvest, an independent financial adviser, some of the UK’s top fund managers have been named and shamed in the latest list of 'dog funds' for consistently disappointing their investors.
A description of a 'dog fund' is a fund that has underperformed its benchmark in each of the past ...
Alliance & Leicester announces write-downs
Permalink: Alliance & Leicester announces write-downs by Kay Murchie
Alliance & Leicester (A&L) is the latest casualty of the sub-prime mortgage crisis after it announced that losses from investments in assets had more than tripled in November and December.
The mortgage lender said it will have to write-off £185 million, over 3 times its previous estimate of £55 million.
The news ...
January 29, 2008
BSkyB Must Sell Shares, Says Hutton
Permalink: BSkyB Must Sell Shares, Says Hutton by Stewart Douglas
Broadcasting giant BSkyB has today been forced to pull back from its involvement at ITV on competition grounds, following a detailed ruling by the Competition Commission on the terms of the relationship between the two companies, which has seen BSkyB gather substantial influence since it finalised its 17.9% equity stake back ...
Debenhams Takeover Talks Fuel Share Price Growth
Permalink: Debenhams Takeover Talks Fuel Share Price Growth by Stewart Douglas
Department store group Debenhams has today been the subject of much trading activity following increased speculation of a takeover bid off the back of an increase in the stake held by a Dubai-based investment fund, which has seen share prices rise by as much as 7% on the day.
Saudi-investment group ...
Chicago, KC wheat prices fall on Argentina news
Permalink: Chicago, KC wheat prices fall on Argentina news by Elaine Frei
Wheat prices fell in Chicago and Kansas City on Tuesday when Argentina said that it will again allow exporters to register the grain for shipment out of the country after halting exports in December in an effort to keep domestic supplies in the country to cool food price inflation ...
Australian equities markets resume declines
Permalink: Australian equities markets resume declines by Elaine Frei
Equities markets in the Asia-Pacific region were mostly higher on Tuesday, although Australian markets have resumed their declines and India’s Sensex fell a bit. The wider gains came after broker upgrades in the Japanese car and truck manufacturing sector and on hopes that the US Federal Reserve will cut interest rates ...
Durable goods report sends dollar higher
Permalink: Durable goods report sends dollar higher by Elaine Frei
The dollar gained on Tuesday after the US Commerce Department said that durable goods orders were 5.2 percent higher in December than they were in November, leading some analysts to expect that the Federal Reserve will cut interest rates by only a quarter of a percentage point when it meets later ...
Diageo enters US market with purchase of Rosenblum Cellars
Permalink: Diageo enters US market with purchase of Rosenblum Cellars by Kay Murchie
Diageo, the largest multinational beer, wine and spirits company in the world, has announced it has purchased Rosenblum Cellars, the Californian wine maker, in a deal worth £53million.
Following the purchase, Diageo said its target is to become the leading premium wine company in the US. It is ...
Mitchells & Butlers abandons property venture
Permalink: Mitchells & Butlers abandons property venture by Kay Murchie
Mitchells & Butlers (M&B) has today announced that it has abandoned plans for a property joint venture with property tycoon, Robert Tchenguiz.
M&B, owner of several brands of pubs including Harvester, Sizzling Pub Co, Toby Carvery and All Bar One, said the plans were hurt by the downward spiral ...
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