London close: Downgrade threat sinks Footsie
21st May 2009 16:35
Footsie closed with triple-digit fall as investors got spooked by fears that the UK may lose its triple-A credit rating. Credit-rating agency Standard & Poor's said: 'We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tightening, the net general
Read moreLondon afternoon: Decline picks up pace
21st May 2009 14:36
The Footsie is nursing a triple-digit fall as investors bail out of equities, spooked by fears that the UK may lose its triple-A credit rating. Credit-rating agency Standard & Poor's said: 'We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tigh
Read moreFTSE 250 movers: M&B down 10% as profits halve
21st May 2009 13:26
With profits down nearly half at the pub group Mitchells and Butlers, shares in the All Bar One owner are 10% lower. The firm also parted company with chief executive Tim Clarke today. Enterprise Inns, also a pub group but one that rents premises to tenants, is also lower. South African private ba
Read moreTechMARK movers: Intec leads risers
21st May 2009 12:41
Pre-tax profit at telecoms billing software firm Intec Telecom surged after its business emerged from harsh global economic conditions relatively unscathed. The group, whose clients include AT&T, Cable & Wireless, said adjusted profit before tax surged to £11.1m in the first half of the year from
Read moreLondon midday: UK credit rating fear sparks sell-off
21st May 2009 12:00
Fears that the UK may lose its triple-A credit rating has given equities the jitters. Credit-rating agency Standard & Poor's said: 'We have revised the outlook on the UK to negative due to our view that, even assuming additional fiscal tightening, the net general government debt burden could approac
Read moreHigh arms spending boosts QinetiQ
21st May 2009 08:37
High military spending in the UK and US helped defence group QinetiQ post a sharp rise in revenues and underlying pre-tax profits. In the year to March 31, pre-tax profits climbed to £130.2m from £109m on revenues that rose to £1.617bn from £1.366bn. The company's strong order book was sustained b
Read moreMonday newspaper round-up: Lloyds Banking, Shell, BT
18th May 2009 06:20
The departure of Sir Victor Blank has opened the floodgates on City demands for Lloyds Banking Group to unwind its fateful merger with HBOS which led to the chairman's downfall. A powerful combination of investors as well as business and political leaders are arguing that the superbank should be de
Read more