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Coffee sales provide pep for Nestle
Thursday 9 August 2012 8:00
Net profits at Nestle rose 8.9% to £3.34bn in the first half of 2012, with sales in emerging markets climbing 12.9%, and by 2.6% in developed nations. Demand in China for its ready-to-drink coffee fuelled the growth.
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Economy to remain flat
Wednesday 8 August 2012 7:00
The Bank of England is likely to slash UK growth forecasts to close to zero from the 0.8pc predicted in May when it releases its quarterly inflation report later today.
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Sony sinks deeper into the red
Thursday 2 August 2012 8:00
Electronics giant Sony has lowered its full-year earnings forecast amid declining LCD TV and video game console sales and a strong yen. The group reported a quarterly loss of around £202m.
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Manufacturing shrinks
Thursday 2 August 2012 7:00
UK manufacturing shrank at its fastest rate for three years last month, new figures show. The Markit/Cips PMI manufacturing index dropped unexpectedly sharply from 48.4 in June to 45.5 in July – any measure below 50 indicates the sector is shrinking.
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Thomas Cook "on track"
Thursday 2 August 2012 7:00
Ailing travel firm Thomas Cook this morning said its turnaround remains on track despite making a £26.5m quarterly loss. The group said it had been hit by "challenging" trading, but that sales in recent weeks had improved.
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Lending kick-start
Wednesday 1 August 2012 9:00
An £80bn scheme to kick-start bank lending was launched today. The Bank of England and Treasury's Funding for Lending scheme (FLS) will make funding accessible to banks to pass on to businesses and households through cheaper loans and mortgages.
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Creative fund launched
Wednesday 1 August 2012 7:00
Creative England has launched a national business development fund of up to £1m to support creative and digital businesses across the English regions. The fund is aimed at small to medium-sized companies looking to develop new software, applications and content. It will typically support companies looking to develop new cross-platform applications or content related to new applications for the above markets. Proposals such as a mobile healthcare application, the development of a new game for tablet or mobile, or e-government content linked to a new service delivery model, may all be eligible for funding.
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London expansion for Edinburgh firm
Tuesday 31 July 2012 9:00
Edinburgh based online marketing company QueryClick has announced the arrival of two new business development executives to its London office. The specialist marketing company, which helps businesses improve their online return on investment, launched the London base in August last year as a platform to expand beyond Europe and into the Far East within the next three years. Business development executives Adam Lee and Leon Willoughby will be based in Marylebone.
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HSBC boss apologises
Tuesday 31 July 2012 7:00
Hsbc chief Stuart Gulliver has reportedly apologised for "the mistakes of the past" as the banking giant set aside a further £950m to cover the cost of mis-selling claims and a money-laundering scandal in the US. HSBC said it increased its provision to cover mis-sold payment protection insurance (PPI) by £341.6m in the three months to June, bringing the total charge to date to £1.1bn.
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350 jobs created in Scotland
Tuesday 31 July 2012 7:00
Up to 350 new jobs are to be created in Fife and the Isle of Lewis, on the back of two contracts for an oil production platform. Premier Oil has awarded the contract to Burntisland Fabrications (BiFab), which means the firm will double its workforce by the end of this year.
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RBS regional chief named
Tuesday 31 July 2012 4:00
Dave Harris has been named as the new regional director for RBS's Corporate & Institutional Banking (CIB) team in Yorkshire.
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Patent box opens
Thursday 19 July 2012 8:00
With Royal Assent being given to legislation which introduces the Patent Box, now is the time for businesses to take advantage, says PwC. The legislation will provide a 10% rate of Corporation tax for profits from patented technology as opposed to the forecast headline rate of 23%. The 10% tax rate will be phased in from April 2013 – a move that is ultimately expected to save UK companies around £1bn a year. Senior manager of tax Lyndsey Fothergill says: “The Patent Box is key to making the tax regime competitive for innovative companies and will help to put the UK back on the map as a top location for innovative industries. It will undoubtedly encourage businesses across a wide range of sectors, such as manufacturing and engineering, to invest in the UK, generating growth and creating jobs."