Speciality chemicals group Elementis was a heavy faller after saying that full-year headline operating profits will be hit by a temporary slowdown in oilfield drilling. Nevertheless, the group said it remains on track to hit earnings per share (EPS) forecasts this year due to a lower tax rate. [26 Oct '12]
Data from the European Central Bank (ECB) show that the tentative rebound in the money supply over the summer may have stalled again in September. The broad M3 gauge -- watched by experts as an early warning signal for the economy a year or so ahead -- shrank by 30bn euros and is now down by 143bn euros since April. This is highly unusual. The narrow M1 gauge watched for signals of activity six months head has held up better but also contracted in September, falling by 16bn e [26 Oct '12]
Nationwide is considering a takeover bid for the 316 bank branches that have been put back up for sale by Royal Bank of Scotland. Britain's biggest building society is mulling a possible offer following the collapse of a £1.65bn deal to sell the network to Santander UK. RBS, which has to dispose of the business by the end of next year to avoid a fine from the European commission, is scrambling to resurrect the sale at a knockdown price. Virgin Money, Sir Richard Branson's ban [21 Oct '12]
Tempus in The Times writes that while Man Group remains the world's biggest listed hedge fund manager, it has become worryingly accustomed to giving investors bad news. Yesterday Man reported its fifth successive quarter of net fund outflows, up from $1.4 bn to $2.2 bn, although it blamed the increase on poor sales rather than client withdrawals. Its AHL fund, now depleted to $16.3 billion, lost 6.4 per cent last year and is 0.3 per cent lower this year ? 14 per cent below th [19 Oct '12]
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