Eurozone industrial output tumbles raising fear of economic contraction February 14, 2012 OUTPUT at factories in the Eurozone tumbled in December, reflecting a sick European economy that probably shrank at the end of 2011, though market watchers hope it will recover this year. Industrial production in the 17 countries sharing the euro fell 1.1 per cent in December from November, official data showed. On an annual basis, [...]
Rio Tinto seals takeover of uranium group Hathor January 12, 2012 RIO Tinto yesterday said it had taken complete ownership of Canadian uranium company Hathor Exploration. The miner said it had compulsorily acquired the remaining 7.9m shares not voluntarily offered after it made a $C654m (£419m) takeover bid in October. Hathor, which is based near western Canada’s Athabasca Basin, supplies approximately a fifth of the world’s [...]
Promotions help N Brown grow January 11, 2012 N Brown, the British internet and catalogue home shopping firm, returned to sales growth in the run-up to Christmas, though to achieve this it had to step up promotions. The Manchester based company, which targets mature and larger customers, said yesterday its revenues increased by 2.3 per cent in the 19 weeks to 7 January, [...]
US stocks slide on doubts over credit February 22, 2012 BANKS led US stocks lower yesterday as the S&P 500 stalled near a 10-month high after signs of weak European business activity rekindled concerns about a recession overseas. US banks were the S&P 500’s worst performing sector. Investors feared that weak Eurozone growth would hamper countries dealing with heavy debt loads and the banks exposed [...]
Olympus could sue executives January 8, 2012 OLYMPUS could sue current and former executives who were involved in the $1.7bn (£1.1bn) accounts scandal exposed last year for more than 90bn yen (£0.78bn) after an independent report into management responsibility at the Tokyo-based company advocated this measure. This has led to speculation that Shuichi Takayama, president of Olympus Corp since October and one [...]
Olympus could sue executives January 8, 2012 OLYMPUS could sue current and former executives who were involved in the $1.7bn (£1.1bn) accounts scandal exposed last year for more than 90bn yen (£0.78bn) after an independent report into management responsibility at the Tokyo-based company advocated this measure. This has led to speculation that Shuichi Takayama, president of Olympus Corp since October and one [...]
Toyota raises full year outlook February 7, 2012 TOYOTA Motor raised its full-year profit forecast by more than a third yesterday as it cuts costs, trims spending and expects Japanese government schemes to boost sales, though the guidance was still some way below analysts’ expectations. Japan’s number one carmaker now expects operating profit – earnings from its core operations – for the year [...]
Trade deficit up as exports decline again January 11, 2012 EXPORTS fell and imports rose in November, reversing October’s positive figures and suggesting trade is not giving a strong boost to the UK economy, according to data released yesterday by the Office for National Statistics (ONS). Goods imports rose by £381m in the month to £34.84bn, while exports fell by £395m to £25.74bn. The deficit [...]
Mitie trading in line as solid order book fuels confidence January 30, 2012 OUTSOURCING and energy specialist Mitie said revenues and earnings had come in line with expectations in a trading update yesterday. The FTSE 250-listed company said its private sector client sales were strong, having sealed recent deals with insurers Friends Life and LV=. In the public sector it said there were still contracts being won despite [...]
Mitie trading in line as solid order book fuels confidence January 30, 2012 OUTSOURCING and energy specialist Mitie said revenues and earnings had come in line with expectations in a trading update yesterday. The FTSE 250-listed company said its private sector client sales were strong, having sealed recent deals with insurers Friends Life and LV=. In the public sector it said there were still contracts being won despite [...]