Britain’s top share index was little changed early on Thursday as strong results from insurers were offset by disappointing numbers from Barclays and Unilever By 0811 GMT, the FTSE 100 was 3.01 points, or 0.1 percent, lower at 5,383.15 after it ended 0.2 percent lower on Wednesday. Investors are waiting for an interest rate decision…
Italian fashion house Versace expects to post higher sales in 2010 on the back of its restructuring and China’s growing appetite for luxury goods, its chief executive said. In an interview with Reuters, Gian Giacomo Ferraris said he remained confident about a return to profitability in 2011, thanks to a more efficient distribution network and…
Consumer spending in Britain is likely to remain constrained for the foreseeable future, but any slowdown in demand is likely to be modest, the chief executive of fashion retailer Next told reporters. Simon Wolfson also said in a telephone interview that the group was stepping up spending on standalone homewares stores, where new shops are…
Romania has met IMF and EU conditions for continuing its €20bn bailout programme, offering some reassurance to investors concerned about the country’s deep and prolonged recession. IMF mission chief Jeffrey Franks has said no major policy changes were needed after the latest review of Romania, which has slashed public spending including wages and raised value…
British outsourcer Mouchel Plc says it expects its full year results to be at the lower end of expectations as government spending cuts create a difficult trading environment. Mouchel, which provides maintenance for highways in Britain, said that over the past year it secured £650m ($1bn) of new contracts but a lack of clarity over…
Gold miner Kinross Gold Corp said it will buy the 91 percent of Red Back Mining Inc that it does not already own for around $7bn to create one of the world’s largest gold miners. The company said it will pay around $30.50 Canadian a share in stock and warrants for each Red Back share,…
The two banks showed a dip in investment banking income in the latest quarter, but more than made up for that with lower losses on personal and corporate loans as broad economic conditions improved. Half-year profits for HSBC, Europe’s biggest bank, hit $11.1bn, more than double the $5bn of a year ago and above the…
A steady stream of customers were greeted with an array of gimmicks. Not only does the bank welcome dogs, it provided them with free biscuits and offered their owners free breakfast. “We’re in the business of turning customers into fans,” American billionaire and Metro Bank co-founder Vernon Hill told reporters. Metro Bank aims to have…
Guinea must review billions of dollars worth of mining deals signed since a coup in 2008 to make sure the West African state is getting its fair share of revenue, election front-runner Cellou Dallein Diallo said. Contracts signed by multinationals such as Rio Tinto, Vale, and Chalco should be reviewed fairly, in a way that…
A key lobby group has became the latest body to downgrade Russia’s 2010 crop prospects as the worst drought in 130 years threatened harvests in the major wheat exporter, sending key wheat prices to 22-month highs. The recent jump in US wheat prices followed a 42 percent leap in wheat futures on the Chicago Board…
