Reuters: Business News

Anglo names chairman to lead Xstrata defence

Fri, 10 Jul 2009 09:45:40 +0100

LONDON (Reuters) - Anglo American appointed veteran industrialist John Parker as chairman on Friday, moving to bolster its leadership as it seeks to fend off an unwanted merger proposal by rival Xstrata.

"New GM" ready to exit bankruptcy

Fri, 10 Jul 2009 06:10:20 +0100

DETROIT (Reuters) - General Motors on Friday prepared to exit bankruptcy with the message that a leaner and meaner automaker ready to win back American consumers and pay back taxpayers has emerged from its failure.

June factory costs fall sharply

Fri, 10 Jul 2009 09:58:36 +0100

LONDON (Reuters) - Factory costs fell in June at their sharpest annual rate since 1997 and output prices dropped at their fastest in 7-1/2 years, in a sign inflation will fall sharply in the coming months.

FTSE mired near 2-month low

Fri, 10 Jul 2009 09:19:02 +0100

LONDON (Reuters) - More gloom on prospects for the global economy, sparked by weak U.S. corporate results depressed commodity prices, knocking energy stocks and dragging the top share index down 0.6 percent early on Friday.

Bovis sees profit on lower overheads

Fri, 10 Jul 2009 07:37:06 +0100

LONDON (Reuters) - Housebuilder Bovis Homes said on Friday it will generate an underlying profit in the first half due to a reduction in overheads, and repeated messages of price stabilisation in the sector.

Africa asks G8 to honour pledges

Fri, 10 Jul 2009 09:53:01 +0100

L'AQUILA, Italy (Reuters) - Africa took centre stage at the Group of Eight summit on Friday, with wealthy nations eager to reassure critics they will honour past aid pledges and approve a new $15 billion (9.2 billion pound) agriculture programme.

John Lewis hit by heatwave, Wimbledon

Fri, 10 Jul 2009 08:38:52 +0100

LONDON (Reuters) - John Lewis Partnership , the employee-owned group seen as a barometer of UK retail spending, said department store sales in the week to July 4 were held back by sunny weather and the distraction of Wimbledon. The firm said sales at its 27 department stores fell 2.3 percent to 60.1 million pounds.

SIG says sales down

Fri, 10 Jul 2009 07:53:00 +0100

LONDON (Reuters) - Building materials maker SIG on Friday reported a 10 percent drop in its first-half sales, blaming "exceptionally challenging" trading conditions.

Oil demand seen bouncing back in 2010

Fri, 10 Jul 2009 10:29:09 +0100

LONDON (Reuters) - Global oil demand will bounce back by 1.7 percent, or 1.4 million barrels per day (bpd), year-on-year in 2010, led by rising consumption in emerging economies, the International Energy Agency said on Friday.

Mitie benefits from outsourcing drive

Fri, 10 Jul 2009 08:25:22 +0100

LONDON (Reuters) - Maintenance specialist Mitie said on Friday trade in its first quarter had started well as private firms and public sector bodies continued to farm out work to cut costs.