Thu, 20 Nov 2008 05:45:38 +0100
Global investors search for safety
Investors showed renewed signs of fear about the extent of the economic problems, sending equities indices sharply lower and bond prices higher
FTSE sinks below 4,000
London equities fell further on Thursday, as financial and mining stocks continued to lose support with the FTSE 100 trading under 4,000 points for the first time since October.
October retail sales better than expected
UK retail sales in the three months to October were flat, a much better outcome than expected and in contradiction to gloomy industry surveys, as retailers are forced into discounts to entice shoppers, as official data also showed public sector finances in their first deficit since 1994
Aim loses its shine as new listings dry up
The boom times have come to an abrupt halt for Aim, London's lightly regulated share market for smaller companies as new fundraisings dry up
Bank of England discussed 200bp rate cut
The Bank of England's Monetary Policy Committee voted unanimously to slash the bank rate by 1.5 percentage points this month, and considered an even larger cut, underscoring concerns about credit conditions globally and the decline in consumption and demand at home
DSG slumps as Footsie falls nearly 5%
DSG International, the parent company of Currys and PC World, slumped to a record low as the cost of insuring its debt spiralled and rumours swirled of tough trading and further problems with credit insurance
DMGT seeks to save £100m from cost cuts
The owner of the Daily Mail and a range of regional titles including the Evening Standard revealed plans to save £100m as it reported a fall in profits
Halfords sees signs of slowdown
The car maintenance and bike seller said sales had slowed since the end of September as it sought to sell more high margin products
Sorrell offers glimmer of hope over advertising
Sir Martin Sorrell offered a glimmer of hope to struggling newspapers, radio companies and broadcasters, saying they would be more attractive to his clients next year
New British Land chief due by Christmas
Chris Gibson-Smith, executive chairman of British Land, said the property company had "seen a wide range of candidates" to replace Stephen Hester, its former chief executive who takes up his new role at Royal Bank of Scotland this month. He hoped to make an appointment before Christmas
BSkyB holds off ITV share sale decision
The satellite broadcaster has said it will wait to decide on whether to launch an appeal against a decsion to force it to sell a 17.9% holding in commercial broadcaster ITV
Manufacturers expect sharpest contraction in 30 years
The CBI Industrial Trends survey came as the EEF reported that one in four companies which had negotiated a pay deal in the three months to the end of September had either deferred a decision or elected to freeze pay
Imperial says takeover by ONGC on track
Imperial Energy said all pre-conditions of its £1.4bn takeover had been satisfied and offer documents would be sent out to shareholders by December 9
Collins Stewart finance chief steps down
The FTSE 250 stockbroker announced that David Lindsay, its finance director, is stepping down and that it is refocusing its lossmaking capital markets division on mid-cap companies
UK inflation falls for first time in 15 months
Consumer prices tumbled in October, justifying the Bank of England's 1.5 percentage point interest rate cut and opening the door to further reductions in the costs of borrowing
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