Prudential profit rises by 34pc

first_img John Dunne Prudential profit rises by 34pc whatsapp Britain’s largest insurer Prudential reported a better-than-expected 34 per cent rise in first-half operating profit, helped by improving investment returns amid a broader market recovery.Prudential’s operating profit was £1.68bn for the first six months of the year, based on European Embedded Value (EEV) accounting standards, higher than a consensus forecast of £1.54bn and better than the £1.25bn recorded a year earlier.The company reported a 40 per cent rise in net profit of £968m based on International Financial Reporting Standards, beating a consensus forecast of £724m, and better than £688m it posted a year earlier.It also said that its bungled bid to buy AIG’s Asian arm AIA will cost £377m, down from an initial estimate of £450m, thanks to reduced advisory fees and currency fluctuations.The firm raised its half-year dividend by five per cent to 6.61 pence per share. Share Tags: NULL whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd Show Comments ▼ More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com Thursday 12 August 2010 2:21 amlast_img read more

Eurozone industry output falls

first_img Show Comments ▼ whatsapp Thursday 12 August 2010 7:54 pm Eurozone industrial production declined in June, with output in France and Germany falling sharply, but a strong showing over the second quarter as a whole suggests Friday’s GDP data for the bloc will be robust. Output fell 0.1 per cent month-on-month, figures from Eurostat showed, and rose 8.2 per cent year-on-year, although the drop followed sharp rises in April and May. Eurozone industry output falls whatsapp More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com KCS-content Share Tags: NULLlast_img read more

Premier Farnell boosts dividend after beating quarterly forecast

first_img KCS-content More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org whatsapp Show Comments ▼ ELECTRONIC components distributor Premier Farnell more than doubled its profit in the second quarter, beating market expectations, helped by strong growth in China and a recovery in North America.The company, which counts Philips, Microsoft and Nokia among its customers, posted underlying pre-tax profit of £23.8m for the three months to 1 August, up from £10.7m a year ago, on revenue 30 per cent higher at £252.1m.The sales growth had continued in August, with sales up more than 25 per cent year-on-year, it said.Premier Farnell, which competes with Electrocomponents, increased its interim dividend by five per cent to 4.4p, underpinned by its confidence in its strategy, although it said it remained aware of the uncertain economic outlook and the inherent limited visibility in the business. Analysts were expecting the company to report revenue of £233.8m and pre-tax profit of £21.2m, according to a company-supplied consensus of seven brokers.Chief executive Harriet Green said the results reflected “the continued progress in our strategy”.Shares in Premier Farnell gained 7.3 per cent to close 17.5p up at 257.1p. Premier Farnell boosts dividend after beating quarterly forecast Thursday 9 September 2010 8:33 pmcenter_img whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tags: NULLlast_img read more

QE less likely after Bank’s new outlook

first_img QE less likely after Bank’s new outlook whatsapp Wednesday 10 November 2010 8:41 pm Share KCS-content whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutioncenter_img Show Comments ▼ GILT yields shot up after the Bank of England’s inflation report yesterday, with the market moving to price in lower expectations of further quantitative easing (QE). Yields on ten-year gilts jumped 14 basis points to 3.18 per cent from 3.04 per cent before the report was released and sterling rallied to over $1.60 against the greenback and to over €1.17 against the euro. In its first inflation report since the government’s comprehensive spending review, the Bank kept its GDP growth projections at the same level as in its August report, saying that it had already factored in the fiscal crunch.It forecast that growth would reach about 2.2 per cent next year and then rise to three per cent by 2012.But it pushed back the date by which it said consumer price inflation was likely fall below its two per cent target to 2013, cautioning that “the risk around its most likely path are judged to be skewed to the upside”. Its probability-weighted fan chart (see right) shows that it expects CPI to peak at about 3.4 per cent halfway through 2010 and then to fall to two per cent a year later.The combination of bullish growth projections and above-target inflation forecasts convinced City economists that a second round of QE is off the books for now.Ernst & Young’s Nida Ali said: “Further asset purchases are only likely to occur if there are clear signs that the recovery is relapsing.”But many also think that the report “left the door open” for QE if growth figures slow, with Capital Economics’ Vicky Redwood claiming it could still come as early as February.Most economists now expect interest rates to remain at their current 0.5 per cent level until late 2011, after which IHS Global Insight’s Howard Archer said they would rise only gradually. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more

EU unveils new drive to control financial speculators

first_img alison.lock Show Comments ▼ whatsapp THE European Commission has released new plans to clamp down on financial speculation, proposing tighter controls on everything from betting on the price of commodities to high-frequency trading.In a review of its Markets in Financial Instruments Directive (MiFID) legislation, EU officials want to curb speculation in areas such as government bond trading or commodities such as grain.CityA.M. broke the news of the plans to launch this consultation on reforming MiFID earlier this week, after obtaining a copy of the consultation document.City experts are concerned that the changes proposed will give European regulators unprecedented powers to control commodity markets, while investment banks face increased surveillance of their internal share and derivative trading platforms.Michel Barnier, the commissioner in charge of EU financial reform, wants to beef up the powers of regulators to intervene when speculative positions in specific financial markets send grain prices spiralling, for example.He will also tackle high-frequency trading, the millisecond buying and selling by computers of stocks and bonds that is suspected of triggering the flash crash in July, when US stock markets plunged only to recover within minutes.As part of Wednesday’s proposals, the Commission, the EU’s executive, also launched a push to raise penalties across the region for financial crimes such as insider trading, and to force national regulators to name and shame offenders.“This reform has been overdue because the markets broke down in the same way as banks did,” said Sony Kapoor, a financial expert with London think tank Re-define. “So far the whole effort has focused on banks.”The Commission is leading a shake-up of financial services across the 27-country EU after what began as a freeze in bank lending led to recession, widening budget deficits and ultimately sucked whole countries into a debt crisis.In the proposals officially launched today, which outline the shape of future European law, officials write of their desire to tackle “potential new risks that increased use of automated and high-frequency trading could pose to EU markets”.The rule change will also demand more information for regulators about trading prices in so-called “dark pools”, where the price of a deal is published only after it has happened. EU unveils new drive to control financial speculators Wednesday 8 December 2010 7:32 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute whatsapp Share Tags: NULLlast_img read more

BEST OF THE BROKERS

first_imgSunday 19 December 2010 9:57 pm whatsapp Show Comments ▼ KCS-content WOLSELEYStandard & Poor’s has initiated coverage of the building products company with a “hold” rating and a 12-month target price of £19.50. The broker notes that Wolseley has lowered its headcount and number of branches drastically since the downturn, and expects a return to profitability in 2011. ASTRAZENECAEvolution Securities rates the pharmaceutical group “sell” with a target price of £28.50. The broker believes that AZ’s recent setback for its Brilinta drug, which has been delayed approval by US regulators, emphasises the risks associated with the firm: that it is too dependant on a small number of products.F&C ASSET MANAGEMENTJPMorgan Cazenove rates the asset manager “neutral” with a target price of 74p. The broker says that F&C has demonstrated good progress in 2010, but that uncertainty of ownership and strategy linked to activist shareholder Sherborne could have adverse consequences for the firm’s share price. Share More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tags: NULL BEST OF THE BROKERS whatsapplast_img read more

Riversdale board recommends $3.9bn Rio Tinto bid

first_imgThursday 23 December 2010 2:47 am Show Comments ▼ Anglo-Australian miner Rio Tinto had $3.9bn (£2.5bn) to buy African-focussed rival Riversdale in agreed but investors are betting on a possible bidding war from rival suitors.Rio’s first big acquisition since its ill-timed Alcan buy in 2007 also needs the backing of at least one of Riversdale’s three large shareholders. Fund managers said they expected India’s Tata Steel and Brazilian steel group CSN to oppose the offer.Rio, which wants access to Riversdale’s coking coal deposits in Mozambique, raised its offer to A$16 per share cash on Thursday from an earlier indicative bid of A$15.Riversdale’s shares rose as high as A$16.84 when the stock resumed trading, indicating investors were expecting a higher offer from a rival party.“I think there is a strong potential (for rival bids). There aren’t that many big new coking coal assets out there and this one is very large and it’s near to production,” said Andrew Harrington, an analyst at Patersons Securities in Sydney.A group of state-run Indian firms including NTPC have also indicated they were looking at Riversdale, with a source at a member of the consortium telling Reuters it expected to decide soon whether to bid.Other interested parties taking a look at Riversdale include Anglo American, ArcelorMittal and Xstrata, sources familiar with the matter and fund managers have said.The miner needs acceptances from 50 percent of Riversdale shareholders which would require getting on board at least one of the target’s three big shareholders – Tata, CSN and US fund Passport Capital – which together own about half of the company, according to Reuters data.“I think Tata will be reluctant to be bought out, having been a long-term believer, just as it’s entering into production,” Patersons’ Harrington said. Tags: NULL John Dunne whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Riversdale board recommends $3.9bn Rio Tinto bid Share More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.com whatsapplast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_img Show Comments ▼ Share KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald PrudentialThe insurance giant has announced the appointment of Peter Goerke as group human resources director, with effect from the start of March. He will be a member of the executive committee and succeeds Priscilla Vacassin in the job. Goerke comes to the company from Zurich Financial Services Group, where he has worked since 2005 in a similar role. Previously, he has also worked at Egon Zehnder International.HSBCThe bank has added Fatima El Ouarti to its London-based Egyptian team in its private banking division. She will report to Fouad Batshon, head of Egypt for the regional team. El Ouarti has more than ten years’ experience in private banking. She comes to the firm from Goldman Sachs, where she managed client relationships. She has also previously worked at Barclays and Levant Private Banking. Espírito Santo Investment BankThe investment bank, which is headquartered in London and Lisbon and includes Execution Noble, has appointed Simon McEvoy to its new division covering mid and small-cap market-making.McEvoy has previously worked as director of trading at Evolution Group, before moving to Mint Partners, where he headed the hedge fund execution team.Apitope InternationalThe pharma company has appointed Dr Martin Sims as research director on its senior management team.Martin will be in charge of the company’s research, working with Professor David Wraith to direct research strategy. He brings 20 years’ experience in drug discovery and has worked at GlaxoSmithKline, GlaxoWellcome before 2000 and the Wellcome Foundation previously.VideojugThe UK video firm has hired a new marketing director: Ash Ali. Ali will be reporting to chief executive Tom Laidlaw and will be in charge of developing the brand and promoting the company across a range of media. He brings 11 years’ experience in online marketing and joins from Just-East.co.uk. Citibank Agency and TrustAdrian Nye has joined Citibank as a sales manager. He will be responsible for expanding the firm’s presence across Asia, having previously been focused just on the south-east region. CITY MOVES | WHO’S SWITCHING JOBS whatsappcenter_img Wednesday 5 January 2011 7:19 pm whatsapp More From Our Partners Kansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Tags: NULLlast_img read more

Dixons sees trade dented as the dire weather claims another retail victim

first_imgThursday 13 January 2011 8:01 pm Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap Dixons sees trade dented as the dire weather claims another retail victim DIXONS Retail yesterday forecast full-year profit around the bottom end of market expectations after Christmas sales were hit by December’s adverse weather.The company, which runs the Currys and PC World chains in Britain, UniEuro in Italy, Elkjop in Nordic countries and Kotsovolos in Greece, said it expected underlying profit before tax in the range of £100m to £110m in 2011.Dixons said sales at stores open over a year fell two per cent in the 12 weeks to 8 January – its fiscal third quarter. That compares with analyst forecasts for a fall of two to nine per cent, according to a Reuters poll, and with a second-quarter fall of one per cent.“We remain cautious about the economic outlook across our markets,” the firm said.Dixons, which makes all its profit in the second half, is two and a half years into a turnaround plan that has focused on selling underperforming businesses, cutting costs, revamping stores, opening larger stores and improving product ranges and service. The programme has generally been well received by analysts, but Dixons’ share price has fallen by 40 per cent over the last year. Competition from US electricals giant BestBuy – which has launched into the UK market – has not helped. Austerity measures have also seen shoppers tightening their belts. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Show Comments ▼ whatsappcenter_img whatsapp Share KCS-content Tags: NULL last_img read more

Bob Dudley gets another chance to succeed in Russia’s oil market

first_img Share Monday 17 January 2011 9:22 pm Bob Dudley gets another chance to succeed in Russia’s oil market whatsapp Tags: NULL KCS-content BP’s latest attempts to expand in Russia will be a chance for chief executive Bob Dudley to mend his relationship with the country, following his troubled time as president of TNK-BP, the firm’s ongoing joint venture in the country. Dudley was forced to leave Moscow in 2008 when his visa was not renewed, following a dispute between BP and fellow TNK investors Alfa-Access-Renova (AAR) that saw the Russian police raid the firm’s offices and what Dudley said was “sustained harassment” from officials. AAR, run by a quartet of Russian oligarchs, said it would consult its lawyers about whether BP’s latest deal breaks conditions of its TNK-BP agreement, which were renewed in January 2009, that give the venture first refusal on BP’s Russian explorations in the country. Bob Dudley met with AAR representatives during his visit to Russia last week, where he also spoke to Russia’s Deputy Prime Minister and Rosneft chairman Igor Sechin. Meanwhile, a BP boss predicted in 2008 that TNK-BP would eventually be taken over by Rosneft, according to a leaked US embassy cable reported in the Guardian. Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com whatsapplast_img read more