Enterprise Inns wins right to Reit status 2008-05-10 06:01 - Enterprise Inns, the tenanted pub company, delivered a shot in the arm to the
beleaguered sector yesterday by revealing that it had been given the
go-ahead by HM Revenue & Customs (HMRC) to convert to a real estate
investment trust (Reit).
US shoppers slash spending at end of month 2008-05-10 06:01 - Wal-Mart, the world’s biggest retailer, today said that many of its customers
were forced to cease spending towards the end of each month as high fuel and
food costs left Americans penniless in the run up to pay-day.
Lenders rush to borrow £71bn in weekly auction 2008-05-10 06:01 - UK lenders today scrambled to borrow money from the Bank of England, bidding
more than four times the amount of money the central bank made available in
its weekly auction despite a recent pledge to pump £50 billion into the
wholesale funding market.
Carphone Warehouse clinches £1bn US deal 2008-05-10 06:01 - A sharp increase in competition for consumer electronics on Britain’s high
street was signalled today after Carphone Warehouse clinched a £1.1 billion
joint venture deal with Best Buy, the US retailer.
Bank of England holds interest rate at 5% 2008-05-10 06:01 - The Bank of England today rebuffed pleas for a new cut in interest rates as it
pursued its campaign to quell persistent inflationary pressures in the
economy.
Royal Mail loses £200m as post bag shrinks 2008-05-10 06:01 - Royal Mail’s post bag has shrunk by three million letters a day in the last
year, pushing its regulated letters and parcels business into a £200 million
loss.
Tempus: Good Buy 2008-05-10 06:01 - Best buy? At £1.1 billion for a 50 per cent stake in Carphone Warehouse’s
retail operations, US electronics giant Best Buy is paying a 40 per cent
premium to valuations elsewhere in the sector. It also puts an implied price
tag of just £600 million of Carphone’s fixed line and broadband operations,
which seems too low.
Toyota profits warning sends market tumbling 2008-05-10 06:01 - Toyota, the industrial bellwether of the Japanese economy, today stunned
markets by issuing a profits warning, forecasting its first full-year slump
in operating profits in nearly a decade.
Old Mutual unit takes a bath on Bear Stearns 2008-05-10 06:01 - Old Mutual, the insurer, admitted today that it was unlikely to hit its target
of taking funds under management to £300 billion as it emerged that one of
its American subsidiaries took a bath on an investment in Bear Stearns, the
rescued Wall Street bank.
