Wall Street hails better jobless claims

first_img Share whatsapp REPORTS of shorter jobless queues in the United States gave Wall Street some much-needed cheer yesterday after poor housing market and durable goods figures earlier this week heightened fears of a double-dip recession.Initial jobless claims for state unemployment benefits fell 31,000 to a seasonally-adjusted 473,000 last week, far fewer than the 490,000 that the market had been expecting. The better-than-expected data boosted shares and helped the US dollar to gain ground against the yen as traders moved out of safe-haven assets and bought back into the dollar. “No one was bullish on the labour market, but it was not as bearish as some people had thought. Our call is still that we are not heading toward a double-dip,” said Thomas Simons, a New York-based economist at Jefferies.Although traders welcomed the less bearish jobs data, analysts said the claims are still much too high to indicate a substantial shift in what remains a weak labour market.Analysts also pointed to the four-week average of new claims, which is considered to be a more reflective measure of the underlying trends in the US jobs market. This rose 3,250 to 486,750, which is the highest number since late November.The outlook for August’s headline unemployment rate, which will be published next Friday, is still extremely weak. On average, US economists forecast 110,000 layoffs, mostly Census-related. This would put the jobless rate at 9.7 per cent. FAST FACTS | A BAD WEEK FOR US DATABoth new and existing home sales fell at the sharpest monthly pace in July since records began in 1963. Durable goods orders were weak, supported only by a rise in commercial aircraft orders. KCS-content Thursday 26 August 2010 8:09 pm Show Comments ▼ 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 PastTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img whatsapp Wall Street hails better jobless claims Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Prooflast_img read more

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Carrefour in profit boost after savings

first_img whatsapp Share KCS-content THE WORLD’S second biggest retailer Carrefour said yesterday that the summer sales trend was mixed in Europe but demand was holding up in emerging markets with an annual operating profit in its sights.Tight cost control and a surge in emerging markets lifted first-half operating profit by 7.6 per cent to €82m (£67.8m) while the French company was making headway on its plan to revamp its hypermarkets in Europe to boost lagging sales.Carrefour has launched a three-year overhaul plan at delivering €4.5bn of savings. Chief executive Lars Olofsson said in a statement: “Our transformation plan is delivering planned results and makes us confident of achieving our 2010 objectives.” The cautious comments, plus news of an unexpected €69m one-off charge in Brazil, where Carrefour also faces weak hypermarket sales, has kept the shares under pressure. Execution Noble analyst Caroline Gulliver said: “Although figures were in line with expectations, comments from the chief financial officer about the European summer sales took the shine off and it looks as though whilst the French business may be improving, some of Carrefour’s other key markets are deteriorating.” Carrefour, behind only US group Wal-Mart in sales, confirmed that it expected an underlying operating profit of around €3.1bn for the full year, having achieved €1.096bn in the first-half. Carrefour in profit boost after savings whatsappcenter_img Tuesday 31 August 2010 8:46 pm Tags: NULL Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.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.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldlast_img read more

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HMV hit by World Cup fever

first_img whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com KCS-content Show Comments ▼ Thursday 9 September 2010 8:28 pm Sharecenter_img HMV hit by World Cup fever whatsapp ENTERTAINMENT company HMV has said that this summer’s World Cup triggered a 14.9 per cent fall in sales in the UK and Ireland.The firm said potential customers had spurned DVDs, CDs and books to watch the football, hitting the figures which covered the 19 weeks to September.HMV, which owns the Waterstone’s chain, has based its strategy on the growth of live store events and ticketing, as well as a revival in Waterstone’s book sales.It said these factors and a stronger product line-up, particularly in games, could deliver a successful Christmas.At HMV International, which includes HMV stores in Canada, Hong Kong and Singapore, like-for-likes sales were down eight per cent.HMV group chief executive Simon Fox said: “We continue to make good progress on all three parts of our strategy. The initiatives to strengthen our specialist positioning, localise our store offer and revitalise our market leading brand have had a positive impact on trading.”HMV also said that plans were well advanced to operate three further music festivals in the summer of 2011. The company also announced that its group finance director, Neil Bright, would leave the firm in December to join Holidaybreak. Meanwhile, HMV group chairman Robert Swannell will take over as chairman of Marks & Spencer from Sir Stuart Rose in January 2011. Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndoFilm OracleHer Love Triangle Inspired 3 Of The Most Popular Songs Ever WrittenFilm OracleUndoYeah MotorCheck Out These Car Wraps, 20 Car Wraps That Had Us LaughingYeah MotorUndo Tags: NULLlast_img read more

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Beetham Tower site is put back on the market by administrators

first_imgTuesday 16 November 2010 8:23 pm Beetham Tower site is put back on the market by administrators Show Comments ▼ whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoOne-N-Done | 7-Minute WorkoutAdvertisement 7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Sharecenter_img KCS-content whatsapp Tags: NULL More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com THE SITE earmarked for the 53-storey Beetham Tower on the south bank has been put back on the market by administrators BDO. The site at 1 Blackfriars Road, once owned by Beetham Organisation and Russian developer Mirax, will be formally marketed by CB Richard Ellis in early 2011. Royal Bank of Scotland placed the developers’ subsidiary into administration in October, after the pair failed to agree on further funding. The Beetham Organisation and Mirax said in a statement they expected to be taking the project out of administration “very shortly, in association with new investors”, but no offer to buy back the plot has emerged. BMO said it expects the site to bring in excess of £150m. The developers gained planning permission in 2007, and estimated the cost of developing the skyscraper at £1bn. The pair had planned to build 64 luxury apartments and a 261-bedroom hotel in the tower. Beetham Organisation hoped to emulate the success of its project in Manchester, also named the Beetham Tower, which attracted tenants including the Hilton Hotel to the city centre. last_img read more

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New non-exec for Lloyds

first_img KCS-content Tuesday 16 November 2010 8:42 pm whatsapp Share LLOYDS has added a new non-executive director to its board, with current-Victrex chair Anita Frew joining from 1 December. Victrex is a FTSE 200 manufacturing firm, but Frew also has experience in investment and banking from her time at the Royal Bank of Scotland and through her non-executive position at Aberdeen Asset Management. Her appointment will be voted on at the bank’s next annual general meeting.The announcement came as Centrica chair Roger Carr spoke last night on the importance of increasing the number of women on the boards of major British companies.“It cannot be right that today in the FTSE 100, women occupy only 12.2 per cent of board seats,” he said to a City audience at the ISCA Hermes transparency in governance awards, adding that “boards are intellectually and socially enriched by the presence of women”.Also recently the City has seen the launch of The 30 per cent Club, which aspires to make the boards of major UK firms 30 per cent female by 2015. 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: NULL New non-exec for Lloyds Show Comments ▼ whatsapplast_img read more

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Insurers hit by climate change

first_imgWednesday 19 January 2011 7:06 pm Share whatsapp whatsapp Insurers are struggling to assess the risks from climate change, industry officials say, with the floods in Australia and Brazil highlighting the potential losses from greater extremes of weather. Overall losses from weather-related natural catastrophes rose by a factor of three in the period 1980-2009, taking inflation into account, while insured losses from such events increased by a factor of about four during the same period. Total insured losses from natural disasters in 2010 were $37bn (£23.1bn). Show Comments ▼ Tags: NULL Insurers hit by climate change More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com KCS-content last_img read more

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CSC approves Trafford deal

first_img Share KCS-content Wednesday 26 January 2011 9:14 pm Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org CSC approves Trafford deal whatsapp Shareholders in Capital Shopping Centres yesterday gave the green light to the firm’s £1.6bn purchase of the Trafford Centre, bringing to a close months of tussling with predatory investor Simon Property. Simon said in a statement yesterday that it would “closely track the progress” of the CSC board, after giving up on its £3bn takeover bid earlier this month. The Trafford takeover will give previous owner Peel Holdings a one-quarter stake in CSC, though it amended its terms after Simon criticised the deal in November. whatsapp Tags: NULLlast_img read more

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Investors slam Rio Tinto buyback plan

first_img whatsapp 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 ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal 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 AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com MINING titan Rio Tinto came in for harsh criticism for its proposed $5bn (£3.1bn) share buyback yesterday, with leading investors reportedly labelling the plan “a pathetic gesture”. Rio Tinto, which said it would speed up its $5bn buyback to complete it by the end of next year, reported record profits of $20.6bn and a higher-than-expected dividend payment last week on the back of surging commodities prices.But investors, who shelled out £9.5bn for a rights issue in 2009, told the press that they were not being rewarded for their support and would consider blocking Rio’s future expansion plans. The Anglo-Australian miner said last week it plans to focus on the growth of its existing assets, including its massive Pilbara iron ore mine. But shareholders have voiced concerns that Rio is hoarding its cash in order to fund another large-scale acquisition, to follow on from its £2.4bn bid for Riversdale Mining in December. Rio’s shares closed at £43.97 on Friday, valuing the firm at £67.2bn. Show Comments ▼ Tags: NULL Sharecenter_img Investors slam Rio Tinto buyback plan whatsapp Sunday 20 February 2011 11:07 pm KCS-content More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orglast_img read more

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Late rally fails to push FTSE up to 6,000

first_img Share Late rally fails to push FTSE up to 6,000 alison.lock 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 TimesBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 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 More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.org The FTSE rallied valiantly this afternoon on the back of strong US consumer confidence data, after incurring a morning of losses from concern over the ongoing Libya crisis.Banks and commodities suffered from concerns that crude oil prices would spike and knock the global recovery, and the FTSE 100 closed down 0.3 per cent at just 5,996.76. The FTSE 100 volatility index, a barometer of investor anxiety, has risen more than 30 per cent so far this week: the higher the index, the lower investors’ appetite for risky assets.Brent and US crude traded at two and a half year highs on concerns that supply could be disrupted by further Middle East protests.“Investors are likely to be keeping a wary eye on oil in the coming days. Although the price has dropped back today, the concern is that the market will continue to put a risk-premium on the price of oil in reaction to the recent unrest,” said Yusuf Heusen, senior sales trader at IG Index.“If this means we see $100 (£61.60) a barrel much sooner than we expect, it is clearly going to impact on global economic recovery.”Royal Bank of Scotland bucked the weak banking sector trend, closing up 2.32 per cent at 47.72p with traders citing optimism about its full-year results on Thursday.BHP Billiton also rose 1.62 per cent to finish at 2,413p after it boosted its oil and gas division by buying shale gas assets from Chesapeake Energy for $4.75bn. 
Defence firm BAE Systems was the biggest blue chip faller, falling back 4.3 per cent to 26.8p on concerns more UK defence contracts will be cancelled as the government slashes military spending.Serco, also heavily reliant on government spending, lost 2.2 per cent to 532.5p.On the FTSE 250, investors welcomed chemicals manufacturer Croda International’s full-year results, pushing its price up 9.71 per cent to 1,639p on the news that it more than doubled pre-tax profit to £192m in 2010.Engineering services provider Lamprell jumped 8.93 per cent to 305p on the news that it had won a new contract from Singapore-based Greatship Global Energy Services. Groceries delivery firm Ocado fell most, closing down 6.35 per cent at 224p after chief executive Tim Steiner sold £5m of his stock yesterday.US markets closed in the red, despite news that consumer confidence has risen to an almost three-year high. “US equity markets returned from their long weekend in solidly negative territory on the back of lower European markets and the continued unrest in the Middle East,” said Michael Hewson, market analyst at CMC Markets. “Hewlett Packard’s first-quarter earnings will also be closely scrutinised after the bell tonight, with the jury still out on new chief executive Leo Apotheker.”The Dow Jones industrial average closed down 178.46 points, or 1.44 per cent, at 12,212.79. The S&P 500 fell 27.57 points, or 2.05 per cent, to 1,315.44 while the Nasdaq Composite Index lost 77.53 points, or 2.74 per cent, to 2,756.42. Tuesday 22 February 2011 4:23 pmcenter_img whatsapp Show Comments ▼ whatsapp Tags: NULLlast_img read more

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WPP beats forecasts after strong US performance

first_imgFriday 4 March 2011 2:57 am More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comColin Kaepernick to publish book on abolishing the policethegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com whatsapp Share Show Comments ▼ whatsapp John Dunne WPP beats forecasts after strong US performance A rebound in the United States advertising market allowed WPP, the world’s largest ad group, to follow its peers and post strong full-year results on Friday and a solid outlook for 2011.WPP, whose ad agencies include JWT and Ogilvy & Mather, posted fourth quarter organic revenue growth of 8.5 per cent and said the solid performance had continued into January with revenue up over 8 percent.The strong finish to the year, which had been expected after rivals Omnicom and Publicis posted better than expected results, helped WPP to post a full-year figure of 5.3 per cent, with both the fourth quarter and full-year figures ahead of forecasts.For 2011 it expects the key industry metric of like-for-like growth, which strips out the impact of acquisitions and currency moves, of five per cent and operating margins to rise 0.5 margin points to 13.7 per cent.Analysts had expected Martin Sorrell’s firm to report quarter four growth of 7.3 per cent and full-year growth of 4.9 per cent although expectations had risen after US group Omnicom and France’s Publicis reported strong trading.A solid update by another peer Interpublic and reports from media groups that ad markets were growing strongly has added to the sense in recent weeks that the industry is well into a recovery from one of the toughest downturns in recent history.WPP’s performance was boosted by the rebound in the US, continued growth in China, its strong presence in the digital market and an overall drive by fast moving consumer goods companies to increase their marketing spend.For 2011 it expects organic revenue growth of around five per cent, in line with forecasts.Overall reported revenue was up 7.4 per cent to £9.3bn, compared with an analyst forecast of £9.2bn. It also said it would target a divided pay-out ratio of around 40 per cent over the medium term from around 30 per cent Tags: NULLlast_img read more

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