Sports Direct’s profits surge 40 per cent July 18, 2013 BRITISH retailer Sports Direct today unveiled a 40 per cent rise in pre-tax profits to £207.2m, in what chief executive Dave Forsey called a "record-breaking year for the group and for British sport". The sporting goods vendor posted a 20.9 per cent increase in revenue to £2.19bn. Online revenue grew by 52.1 per cent, now [...]
Dollar falls on Bernanke comments July 17, 2013 THE DOLLAR fell and sterling rose this afternoon, after US Federal Reserve chairman Ben Bernanke remained dovish on monetary policy. The central banker added that he expects the economy to pick up further in early 2014 as the dragging effect of the sequester starts to fade, possibly indicating tapering may be delayed until the New [...]
UK unemployment edges down from last quarter July 17, 2013 UK UNEMPLOYMENT from March to May was 0.2 per cent lower than the previous quarter at 7.8 per cent, according to new data today from the Office for National Statistics. 2.51 million people were out of work, down 57,000 from December 2012 to February 2013. The number of people claiming jobseeker’s allowance fell by 21,200 [...]
Balfour Beatty wins £70m contract extension July 17, 2013 INFRASTRUCTURE group Balfour Beatty today announced that it has been awarded a five-year extension to its contract with Yorkshire Water, worth around £70m. Under the extended contract, which runs from 2015 to 2020, Balfour Beatty will continue to upgrade the water network, replacing mains and relining old mains. “We are delighted that our long relationship [...]
BHP Billiton output soars July 17, 2013 FTSE 100-listed BHP Billiton today announced that production at two of its mines had exceeded guidance this year and expansion of its iron ore division is running ahead of schedule. Total iron ore production increased by seven per cent to 170 million tonnes in the 2013 financial year, while copper increased by 10 per cent [...]
Rebuffing takeover bid costs Severn Trent £19m July 17, 2013 FTSE 100-listed water company Severn Trent today announced that it has incurred £19m in advisory and legal costs after rejecting a takeover bid from a consortium of investors. LongRiver partners – comprising the Kuwait Investment Office, Borealis and the Universities Superannuation Scheme – abandoned its approach last month after the utility firm rebuffed multiple offers [...]
Barclays fined £300m for rigging US energy market July 17, 2013 THE US Regulator today upheld a $453m (£300m) fine on Barclays and four of its traders for manipulating the energy markets. The US Federal Energy Regulatory Commission said that the bank deliberately lost money in the power markets between 2006 and 2008 for financial benefit and that the traders knew this was illegal. Barclays must [...]
