FTSE climbs as investors pile into financial stocks June 28, 2011 FINANCIAL stocks helped Britain’s top share index climb yesterday as hopes of a resolution to Greece’s debt problems spurred appetite for riskier assets. Banks were in demand, led by part state-owned Royal Bank of Scotland as investors bet the Greek parliament will this week vote through austerity measures needed to secure more aid from international [...]
US consumer confidence and house prices weaken May 31, 2011 US consumers turned more pessimistic this month, while home prices fell back below crisis-era lows in March, pointing to an economy that continues to struggle. There are also more signs of softness in manufacturing as a barometer of business activity in the Midwest fell to its lowest reading since November 2009. Sluggish economic growth seen [...]
US consumer confidence and house prices weaken May 31, 2011 US consumers turned more pessimistic this month, while home prices fell back below crisis-era lows in March, pointing to an economy that continues to struggle. There are also more signs of softness in manufacturing as a barometer of business activity in the Midwest fell to its lowest reading since November 2009. Sluggish economic growth seen [...]
Young’s profit is up after food sales lift May 26, 2011 YOUNG’S Brewery yesterday announced a profit rise – fuelled by food sales and a strong performance at its managed pub division. Adjusted operating profit at Young’s Brewery increased by 7.1 per cent to £21.7m in the year to 4 April. The revenues increased nearly 12 per cent to £142.6m and the dividend per share was [...]
Samsonite falls 11 per cent in HK debut June 16, 2011 Samsonite International, the world’s biggest luggage maker, has dropped 11 per cent in its Hong Kong trading debut, underscoring tepid investor appetite for initial public offerings as global markets struggle. Samsonite’s slump is the latest in a string of weak Hong Kong IPO performances as China’s strong growth shows signs of weakening and it bodes [...]
Wickes to buy 13 Focus shops from administrator May 17, 2011 FOCUS DIY’s administrators yesterday agreed the sale of 13 stores to Wickes Building Supplies, saving 345 jobs in the process. Ernst & Young said it was in “detailed discussions with a number of interested parties” over the sale of further stores. Focus went into administration earlier this month after being hit by the weak housing [...]
Osborne: the Rock will be re-privatised June 15, 2011 Mansion House CHANCELLOR George Osborne last night announced that Northern Rock – the first casualty of the financial crisis – will be re-privatised. Treasury sources said they hoped the auction, which is expected to raise around £1bn for the exchequer, would be completed before the end of the year. The chancellor, who made the announcement in [...]
Jane Norman lenders ask PwC to find buyer June 5, 2011 HIGH STREET fashion chain Jane Norman has been put on the block by PwC at the request of its lending syndicate, a source familiar with the process said yesterday. PwC is thought to have sent out sale information on Jane Norman, which is majority owned by a group of 11 banks following the collapse of [...]
Jane Norman lenders ask PwC to find buyer June 5, 2011 HIGH STREET fashion chain Jane Norman has been put on the block by PwC at the request of its lending syndicate, a source familiar with the process said yesterday. PwC is thought to have sent out sale information on Jane Norman, which is majority owned by a group of 11 banks following the collapse of [...]
Prada is set for choppy debut June 16, 2011 ITALIAN fashion house Prada is set for a bumpy entrance to the Hong Kong stock market this morning, after pricing at HK$39.50 per share last night according to a source familiar with the float. Prada had earlier set an indicative range of HK$36.5-$48 per share, seeking to raise up to $2.6bn, but trimmed its final [...]