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Monday, 12th May 2008

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Business round-up - 01/05/08



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A daily round-up of business news.
Express on right track
Rail, bus and coach operator National Express today matched its rivals by reporting a strong start to the year.
The group, which runs East Coast mainline services, said all its operations in the UK were performing well.
Shares in transport firms have risen in recent days after firms including Go-Ahead and Stagecoach posted trading updates ahead of expectations.
National Express said its trains business produced revenues growth of 9% in the first three months of the year.

US interest rate cut again
America's Federal Reserve cut interest rates to the lowest point in nearly four years.
Wall Street rallied at first, but then pulled back, concerned that the reduction might be the last for a while.
The Fed's trim was smaller than those of recent months amid indications the central bank might pause to see if months of powerful rate-cutting would be enough to lift the country out of its slump.

Fearful banks hinder recovery
The banks behind the lending boom which came to a spectacular end last summer are now hindering the recovery of the financial system by being too cautious, the Bank of England warned today.
Lenders are so fearful of further credit crunch losses that the return of confidence to markets is being hit, according to the Bank's latest Financial Stability Report.

Workers hit green efforts
Two out of five workers were ignoring pleas from their employers to go green, according to a new report today.
Energy giant E.ON said its research showed the need for improved staff training and more incentives.
A minority of workers were even undermining efforts to green offices and factories by refusing to change their behaviour, it was claimed.

Toy takeover
Model train firm Hornby today said it had struck a £7.5m deal to buy Corgi, one of the world's oldest makers of model trains, cars and buses.
The Corgi brand dates back to 1956. Its toys sold millions at their peak.

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  • Last Updated: 01 May 2008 9:41 AM
  • Source: n/a
  • Location: Preston
 
 

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