Category Archive: News
RWE says German nuclear tax would hit dividends
Germany’s RWE, Europe’s fifth-largest utility, warned government plans to introduce a nuclear fuel tax in Germany would keep a lid on its earnings and dividends for years to come. The statement makes RWE the first utility to detail the effects of a tax on the fuels of nuclear power stations, which Berlin plans to claw […]
Bank of Ireland to shake off state support slowly
Bank of Ireland plans to move away cautiously from state support by showing it can raise debt outside a government guarantee and gradually repay taxpayers’ funds over several years, it has announced. Ireland’s biggest bank by market value has become the first major Irish bank to replenish its capital from partly private sources, an exercise […]
Dollar near 15 year low after Fed move
The dollar hovered close to 15-year lows versus the yen but rose against other currencies on August 10 as investors pared back risk exposure in the wake of steps announced by the Federal Reserve to boost the economy. In early European trade, the dollar was up around one percent against the euro and the Australian […]
Saudi Arabia unveils $385bn spending plan
Saudi Arabia plans to build schools, hospitals, housing and other infrastructure projects as part of a five-year plan budgeted at $385bn, the state-run Saudi Press Agency (SPA) has reported. Ageing King Abdullah is under pressure to create jobs and build housing as the population grows and unemployment rises, hitting 10.5 percent last year. Two-thirds of […]
TUI Travel warns on FY as budget measures hit UK
Europe’s biggest travel firm TUI Travel said it expected its full-year profit to be at the lower end of expectations after trading was hit by uncertainty among British consumers following June’s emergency budget. TUI Travel, in which Germany’s TUI AG holds a controlling stake of 57.5 percent, also said airspace closures as a result of […]
Morgan Sindall says construction recession not over
British construction group Morgan Sindall said growing demand for office buildings was helping to offset the impact of government spending cuts on its business, although the construction recession was not over yet. “The commercial side is growing, but let’s not over exaggerate – it’s growing a bit but not as quickly as governments are spending […]
Astra pays $198m to settle US Seroquel claims
AstraZeneca has agreed to pay $198m to settle some 17,500 US personal injury claims related to its schizophrenia and bipolar disorder drug Seroquel, the company has announced. The top-selling medicine, which had worldwide sales of $4.9bn in 2009, accounting for 15 percent of group revenue, has been subject to long-running legal claims after being linked […]
UK taxpayer moves into black on bank stakes
British taxpayers are sitting on a 3.5 billion pound ($5.6 billion) paper profit on its stakes in Royal Bank of Scotland and Lloyds after both swung back to profit, driving their shares higher. Britain’s profit could be more than five times that amount — potentially bringing in much needed income for the cash-strapped UK government. […]
Hungary to struggle without IMF
Hungary hopes to emulate the few countries that have spurned IMF aid and emerge from crisis on their own, but it is much more likely to follow the example of other crisis-hit EU states and be forced back to austerity. It is no Malaysia or Turkey, the first of which rejected the International Monetary Fund’s […]
FTSE steady as results mixed; rate decision awaited
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 […]
