Chesapeake Energy beats forecasts February 22, 2013 Profits at Chesapeake Energy fell yesterday, although it beat Wall Street estimates yesterday, helped by lower-than-expected expenses and more profitable production. Profits dropped to $257m (£169m) in 2012, down from $429m in the same period in the previous year.
PlayStation 4 event disappoints February 22, 2013 Sony’s event promoting its upcoming PlayStation 4 console was met with disappointment yesterday, after the company was short on detail over the launch. On Tuesday night, the company had failed to reveal the console’s design or price. Sony shares fell 1.77 per cent.
EU goes to court over ebook VAT February 22, 2013 The European Commission is taking France and Luxembourg to court for applying lower taxes on ebooks, which the EU says breaks current rules. The commission says a VAT break on print books does not apply to ebooks, but France and Luxembourg apply rates of seven and three per cent respectively.
Mercedes fined for fixing prices February 22, 2013 Mercedes-Benz and three of its commercial vehicle dealers have been fined £2.6m by the Office of Fair Trading (OFT) for price fixing. The OFT said there had been three instances of market sharing and price coordination on vans and trucks in 2008 to 2010.
French troubles could extend Eurozone crisis February 22, 2013 EUROZONE business activity sunk further and at a faster pace in February, as the bloc proved unable to escape from its lengthy crisis. Markit’s purchasing managers’ index (PMI) for the currency zone slipped back to 47.3 in the second month of 2013, having risen to 48.6 during January. Since this is further below 50, which indicates [...]
Boost for UK manufacturers as February sees pick up in orders February 22, 2013 BRITISH factory orders improved more than expected this month, according to data released yesterday. The total order book balance in the Confederation of British Industry’s (CBI) survey rose this month to minus 14 from minus 20 in January, beating expectations of a reading of minus 15 and well above the long-term average of minus 17. [...]
US sees fastest factory output hike since 2011 February 22, 2013 US MANUFACTURERS boosted output at the fastest rate since March 2011, according to data out yesterday. Markit’s manufacturing purchasing managers’ index (PMI) for output jumped from 56.8 in January to 58.1 this month, a 23-month high. Since it is further above 50, it suggests a yet faster pace of activity growth in the factory sector. [...]
City Moves for 22 February 2013 | Who’s switching jobs February 22, 2013 Withers The law firm has announced the appointment of Matthew Feargrieve as a partner. Feargrieve will be responsible for establishing a pan-European investment funds practice. He joins from Appleby, where he was a partner and team leader for funds and investment services. He has also held senior positions at Mourant du Feu & Jeune and [...]
Best of the Brokers February 22, 2013 CARILLION Liberum Capital has reiterated its “Sell” rating on construction business Carillion ahead of next week’s interim results, with a target price of 322p. The analysts expect to a see reduced order book for future work in the face of a tough UK construction market, as well as a disappointing outlook in the Middle East. Overall [...]
Zut alors: French minister rattled February 22, 2013 SHOCKED French industry minister Arnaud Montebourg has put pen to paper and sent a spluttering response to US tyre firm Titan’s boss Maurice Taylor in defence of France’s “favourable way of life”. In Taylor’s letter, which The Capitalist reported on yesterday, he declined an offer to buy a French tyre factory, criticising French workers for taking [...]
