WHAT THE OTHER PAPERS SAY THIS MORNING June 22, 2010 FINANCIAL TIMES GUINEA THREAT OVER RIO DISPUTE The government of Guinea has raised the stakes in a dispute with Rio Tinto by threatening to strip the mining group of more of its rights to one of the world’s biggest undeveloped iron ore deposits. Officials in Guinea have been angered by what they see as Rio’s [...]
Travis Perkins trading beats expectations May 17, 2010 BUILDING and home improvements retailer Travis Perkins said it was trading ahead of expectations, with signs of growth in its merchanting business offsetting a contracting DIY market. The group, which is seen as a building industry bellwether, said like-for-like sales increased 1.4 per cent in the four months to the end of April, rebounding from [...]
ANALYST VIEWS:?WHAT DO YOU MAKE OF YOUNG’S RESULTS IN THE STRUGGLING PUB SECTOR? June 3, 2010 MARK BRUMBY | LANGTON CAPITAL “The brewery operation Wells & Young has once again turned in a ‘solid’ performance and the tenanted operation has been ‘comparatively strong’ and produced like-for-like revenue growth with volumes little changed. Young’s is well-positioned to meet the challenges that the trade will face during 2010 and beyond.” PAUL HICKMAN | [...]
US banks face fresh home loans inquiry May 24, 2010 A COMMISSION set up by the US government to investigate the roots of the global financial crisis is probing the banks’ sales of billions of dollars worth of bad home loans. The Financial Crisis Inquiry Commission (FCIC) is understood to be planning to help an investigation by the New York Attorney-General into whether banks caused [...]
Mitie sees boost from acquisitions May 17, 2010 MITIE, the support services firm, said yesterday acquisitions had boosted full-year profits and it expected increased government outsourcing to continue to support growth. Mitie, which cleans Barclays and HSBC’s UK buildings, said the acquisitions of rivals Dalkia and EPS had increased its foothold in the social housing market and also meant it could offer more [...]
SuperGroup sales surge as youth spending stays strong May 11, 2010 YOUTH fashion retailer SuperGroup, which floated on the London Stock Exchange in March, saw sales soar by 83 per cent to £139m in the year to 2 May. The company, whose Superdry brand is sported by celebrities including David Beckham, said it expected to make a pre-tax profit of at least £25.7m. SuperGroup has 43 [...]
Nationwidesuffers as profits halve May 26, 2010 NATIONWIDE, Britain’s largest building society, said it expected broad stability in the housing market over the next 6-12 months, when posting a near halving of full-year profit yesterday. House prices have recovered ground in recent months, though they fell in February and April, according to rival lender Halifax, raising questions over the strength of the [...]
Nationwidesuffers as profits halve May 26, 2010 NATIONWIDE, Britain’s largest building society, said it expected broad stability in the housing market over the next 6-12 months, when posting a near halving of full-year profit yesterday. House prices have recovered ground in recent months, though they fell in February and April, according to rival lender Halifax, raising questions over the strength of the [...]
Burberry on track to open new stores May 26, 2010 BURBERRY is stepping up its expansion plans after a surge in profits. The fashion house – famous for its check designs – said yesterday it will open between 20 and 30 stores this year as it posted pre-tax profits of £215m for the 12 months to the end of March. That was up 23 per [...]
IMF urges Japan to begin cutting debt next year as economy starts to pick up May 19, 2010 JAPAN should start fiscal consolidation next year, including gradually raising the country’s sales tax, taking advantage of solid growth now, the IMF said yesterday. The recommendation by the International Monetary Fund (IMF) contradicts Prime Minister Yukio Hatoyama’s pledge not to raise the sales tax rate at least until the next lower house election, which does [...]