Showing posts with the label The Telegraph Citybriefing

The Telegraph Citybriefing -June 20, 2014-.

    City briefing   JAMES TITCOMB BUSINESS REPORTER Follow James on Twitter TOP OF THE AGENDA England's  footballers won't be the only ones licking their wounds this morning. Shares in  pub companies ,  advertisers ,  sportswear chains ,  bookies  and ITV  will all be closely watched as markets open after last night's defeat to Uruguay put the national team on the brink of elimination from the World Cup, potentially dimming interest in the tournament. Pub shares fell  8pc  the last time England were eliminated from a World Cup, when the team did make it to the knockout round, so it could be an ugly day on the stock market. It may also be bad news for productivity: according to Ladbrokes , one in 10 workers are contemplating taking a sick day. One place where all hands are on deck is  TSB , which  Lloyds   is listing on the London Stock Exchange  at a value of £1.3bn. Lloyds is selling 35pc of the challenger bank at 260p per share - in the upp

The Telegraph Citybriefing February 07, 2014.

City briefing LOUISE ARMITSTEAD CHIEF BUSINESS CORRESPONDENT Follow Louise on Twitter TOP OF THE AGENDA The world's biggest steelmaker,  ArcelorMittal , has announced a 23pc jump in quarterly profits, a reduction in net losses and said that 2014 earnings will beat expectations. In results that reinforce hopes for the global recovery, the Luxembourg-based company has said fourth quarter earnings rose to $1.91bn from $1.56bn last year. The steel giant, which is seen as a gauge for the health of global manufacturing, posted a net loss of $1.23bn over the quarter, improved from $3.81bn last year, and said revenues rose 2.8pc to $19.85bn.  Lakshmi Mittal , chief executive and one of Britain's richest men, said the "improvement of the overall economic situation led us to restart some selected steel growth projects." He said he was "cautiously optimistic" about 2014 and that the global steel industry, which has suffered from a slump

The Telegraph Citybriefing January 31, 2014.

    City briefing   LOUISE ARMITSTEAD CHIEF BUSINESS CORRESPONDENT Follow Louise on Twitter TOP OF THE AGENDA Back of the net for  BT  this morning which has reported an 8pc rise in third quarter pre-tax profits and its first quarterly revenue growth since 2009 - all thanks to its aggressive foray into sports TV. The former national telecom monopoly, which in November added the Champions League to its collection of Premier League rights, says there's been a record demand for its superfast broadband. BT Sport now has 2.5m customers. Revenues in the three months to December rose 2pc to £4.6bn, beating expectations of £4.5bn. Pre-tax profits of £617m also were ahead of analysts expectations while earnings jumped 12pc too.  Gavin Patterson , chief executive, has hit back at critics who said the sports rights were too expensive with a declaration that the results prove that "our strategic investments are delivering." Analysts and investors will s