|
|
June 24, 2008
by Kay Murchie
Finnish mobile phone giant, Nokia, is to buy out its fellow shareholders in UK-based handset software firm, Symbian, in a move to develop its software to compete with Google's planned Android operating system.
Nokia, which already owns 48% of Symbian, is paying €264 million (£209 million, $410 million) to buy out the other shareholders ...
June 23, 2008
by Elaine Frei
Crude oil prices were up on Monday on disappointment that Saudi Arabia did not pledge to hike production by more than it did as it promised that it would hike output by 200,000 barrels per day next month and continued to blame high prices not on low supplies but on speculators and the weak dollar.
August contracts for West Texas Intermediate ...
by Elaine Frei
The euro was weaker in relation to the US dollar and the yen Monday after German business confidence dropped in June and on data showing that the Eurozone’s manufacturing and service sectors contracted during the month.
The new numbers will likely make it more difficult for the European Central Bank to raise interest rates soon despite statements from the Bank’s president earlier in the ...
June 22, 2008
by Kay Murchie
Four big names have been relegated from the FTSE 100 index after its quarterly reshuffle.
Alliance & Leicester and housebuilder Persimmon are out as a result of the credit crunch while Argos and Homebase-owner Home Retail Group and sugar company Tate & Lyle are also down.
They have been replaced by technology group Invensys, mining company Ferrexpo, resource ...
June 20, 2008
by Elaine Frei
Crude oil prices were higher Friday after the Israeli military carried out exercises in the Mediterranean Sea that some interpreted as a rehearsal for an attack on Iranian nuclear sites.
July contracts for West Texas Intermediate crude, which expired at the end of the trading day, added $2.69 to $134.62 per barrel while the more heavily traded August contracts added $2.76 to ...
by Elaine Frei
London’s equities markets were lower on Friday as mortgage lenders and buildings supplies groups both saw declines as house prices were predicted to continue falling but the real estate sector saw more gains than losses and some homebuilders saw advances, led by Barratt Developments’ (LSE: BDEV) 12 percent gain after it was said it is in talks to arrange refinancing of some ...
by Elaine Frei
The pound was weaker versus the euro Friday after comments on house prices from a deputy governor of the Bank of England made it seem less likely that the Bank will raise interest rates anytime soon.
In late morning trade in New York, the pound traded at 79.19p to the euro, but the UK currency strengthened to $1.9751 to the US ...
by Kay Murchie
The struggling housebuilding sector saw a ray of light this morning after news of a financial lifeline lifted the sector.
Builder magazine said that Barratt, which is due to announce its results in July, is in discussions with Royal Bank of Scotland, UBS, HSBC and Lloyds about waiving a clause that could have put the housebuilder in breach of its lending covenants ...
by Kay Murchie
Thousands of families may have to go without holidays as industry experts warn that air fares may rise by 40% due to the soaring cost of oil.
This is in addition to fuel surcharges which have already added up to £872 to the cost of a long-distance flight for a typical family of 4.
The higher charges could have ...
June 19, 2008
by Elisha Sanders
In spite of the economic turmoil that has been felt worldwide in recent months, investment banks from around the globe are still pushing ahead with plans to expand operations in Asia, namely China and India.
The World Bank recently released their 'Global Development Finance Report' which outlined the factors behind the continued economic push in the Asia region.
One ...
by Elaine Frei
Crude oil prices fell Thursday after China announced that it will raise fuel prices starting on Friday.
The reports of the price hikes said that the price of gasoline will go up 16 percent and the price of diesel will rise by 18 percent, while prices for aviation kerosene and electricity will also rise.
July contracts for West Texas Intermediate crude ...
by Kay Murchie
Imperial Tobacco Group has announced it is to cut 2,400 jobs worldwide following its acquisition of French-Spanish tobacco firm Altadis back in January.
Imperial Tobacco is the world's fourth-largest cigarette company and purchased Altadis for 12.6 billion euros (£9.9 billion).
The restructure will be implemented over the next 3 years and will result in the closure of six factories within its ...
by Elaine Frei
The pound strengthened Thursday on a report from the Office for National Statistics which revealed that UK retail sales were up 3.5 percent in May against an expected decline and after the governor of the Bank of England said that the Bank will do anything necessary to return UK inflation to its 2 percent target.
In midday trade in New York the pound ...
June 18, 2008
by Elaine Frei
After being down for most of the day, crude oil prices rose at the close of the session on news of supply disruptions due to bad weather in Iraq and Kuwait and on new problems in Nigeria, where white-collar oil industry workers have threatened to strike against Chevron (NYSE: CVX) and a militant group said it would not participate ...
by Kay Murchie
Jaguar Land Rover has announced it is to create 600 jobs with the majority to be based at its development centre in Warwickshire.
The news follows the £700 million investment a few weeks ago when the brands were bought by India’s top vehicle maker, Tata Motors for £1.2 million.
The recruitment drive is designed to attract engineers to develop new technology ...
by Elaine Frei
Gains in metals prices once again helped equities markets in the Asia-Pacific region higher Wednesday.
In Australia, BHP Billiton (ASX: BHP; LSE: BLT; NYSE: BHP; JSE: BIBLT) rose to a two-week high and led other miners higher, while in China refiners saw gains.
Banks in the region were down on the session but shippers saw gains on the possibility that ...
by Peter Charalambous
A recent survey by Bloomberg News has revealed that the median of 39 forecasts indicated that inflation is likely to reach 3.2 percent which will be the highest rate since 1997.
As a result of this trend, analysts are signalling that Bank of England Governor, Mervyn King, may have to write to the Chancellor to explain the situation and why interest rates ...
by Elaine Frei
The yen weakened in relation to the US dollar and other currencies on the likelihood that interest rates in Japan will stay at 0.5 percent for the foreseeable future.
In late morning trade in New York, the yen traded at ¥107.9900 to the US dollar while it was at ¥167.4547 in relation to the euro, fell to ¥10.498 against the Mexican peso ...
June 17, 2008
by Elaine Frei
Crude oil prices fell on concerns that slowing economic growth will cut demand for gasoline and diesel after new data out of the US showed both housing starts and industrial production were down again.
July contracts for West Texas Intermediate crude were 71 cents lower to $133.90 per barrel on the New York Mercantile Exchange while Brent crude dropped ...
by Kay Murchie
US investment banking giant, Goldman Sachs, has announced an 11% fall in quarterly profit.
However, the results were below analysts' expectations and the company's share price saw a boost after the news.
In the quarter to the end of May, Goldman reported net income of $2.09 billion (£1.1 billion), compared with $2.33 billion a year ago.
While its business has ...
|
|
