Business News

Next to meet profit hopes

31 min 35 sec ago

LONDON (Reuters) - Fashion and homewares retailer Next on Tuesday reported a fall in underlying retail sales in line with its guidance and said it would meet full-year profit forecasts, sending its shares up nearly 7 percent. Read article

Ryanair extends offer period for Aer Lingus bid

43 min 47 sec ago

DUBLIN (Reuters) - Irish airline Ryanair said on Tuesday it had extended the offer period to Aer Lingus shareholders in its 750 million euro ($1.04 billion) takeover bid for its rival. The low-cost carrier had set a closing date of January 5 but said on Tuesday the period had been extended to February 13. Read article

Service sector shrinks at near-record pace in December

52 min 2 sec ago

LONDON (Reuters) - Service sector activity shrank at a near-record pace in December and the climate for jobs is the worst on record, the monthly PMI survey by the Chartered Institute for Purchasing and Supply showed on Tuesday. Read article

New Look eyes more store openings as sales rise

52 min 7 sec ago

LONDON (Reuters) - Fashion retailer New Look said underlying UK sales rose 2.8 percent in the 14 weeks to January 3 and that it planned to invest in new stores in 2009 despite an expected deterioration in market conditions. Read article

Toyota to shut plants

1 hour 1 min ago

TOKYO/BEIJING (Reuters) - Toyota Motor Corp will shut all its factories in Japan for 11 days to combat a global slowdown that is not only hitting company profits but could, a report says, unleash a wave of social unrest in China. Read article

FTSE edges higher on miners and retailers

1 hour 12 min ago

LONDON (Reuters) - The top share index edged higher early on Tuesday, maintaining a six-day post-Christmas rally as miners rose on firmer metals prices but gains were slim as data highlighted the fierce headwinds facing the economy. Read article

Clothes give Debenhams a boost

1 hour 17 min ago

LONDON (Reuters) - Debt-laden department stores group Debenhams posted a 3.5 percent drop in underlying sales for the 18 weeks to January 3, but said profits had risen due to tight stock control and demand for its designer clothes. Read article

Marks & Spencer to cut over 1,000 jobs

1 hour 48 min ago

LONDON (Reuters) - Marks & Spencer is set to cut more than 1,000 jobs in stores, its head office and support functions following disastrous Christmas trading, The Times website reported on Monday. Read article

Dunelm underlying sales worsen

2 hours 12 min ago

LONDON (Reuters) - Home furnishings retailer Dunelm reported a worsening of underlying sales in recent weeks, but said it was taking market share and that it had increased gross profit margins. Read article

Tesco unveils 100 million pounds of price cuts

2 hours 24 min ago

LONDON (Reuters) - Tesco announced on Tuesday a further 100 million pounds of permanent price cuts and promotions on more than 3,000 staple products. Read article

Asia stocks up for 7th day on recovery hopes

3 hours 8 min ago

HONG KONG (Reuters) - Asian stocks inched higher for a seventh day on Tuesday on hopes for a global economic recovery later in 2009, but the yen's gains against high-yielding currencies suggested scope for optimism was limited. Read article

House prices fall 2.5 percent in December

3 hours 11 min ago

LONDON (Reuters) - House prices fell another 2.5 percent in December to make 2008 their worst performing year on record, the Nationwide Building Society said on Tuesday. Read article

Consumer morale worsens in December

3 hours 49 min ago

LONDON (Reuters) - Consumer morale sank lower in December as worries about job losses resulting from the economic downturn soured the Christmas spirit. Read article

Ukraine says Gazprom cuts Europe gas supply to 1/3

3 hours 56 min ago

KIEV (Reuters) - Ukraine's state energy company Naftogaz said on Tuesday that Russia's Gazprom had cut gas supply to Europe via Ukraine to around a third of its normal flow and that the shortage would hit Europe in a few hours. Read article

U.S. groups seen in talks to save Waterford Wedgwood

5 hours 12 min ago

LONDON (Reuters) - Three U.S.-based parties are in talks to save china-maker Waterford Wedgwood after the Irish company called in receivers, the Financial Times said on Tuesday. Read article

Asia stocks up on hopes of recovery

7 hours 9 min ago

HONG KONG (Reuters) - Asian stocks edged up for a seventh day on Tuesday, boosted by hopes for a global economic recovery later in 2009, though the rising yen and falling high-yielding currencies suggested such optimism was limited. Read article

Oil steady above $48 on MidEast and Russian tensions

7 hours 28 min ago

SINGAPORE (Reuters) - Oil was steady above $48 on Tuesday after rising 5 percent overnight, as Israel's deepening incursion into Gaza and a spat between Russia and Ukraine over gas prices stoked fears of severe supply disruptions. Read article

Apple's Jobs reassures investors about his health

9 hours 45 min ago

NEW YORK (Reuters) - Apple Inc Chief Executive Steve Jobs sought to soothe investor concerns about his health on Monday, saying his weight loss was caused by a hormone imbalance that is relatively simple to treat. Read article