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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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EADS profits up on Airbus deliveries

Category : Business

EADS reports a sharp rise in profits for the first three months of the year, thanks largely to rising revenue from its Airbus subsidiary.

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Cold snap boosts profits at British Gas owner

Category : Business

But Centrica says it will try to avoid more price rises for ‘as long as possible’ as it faces protests at its annual meeting on Mondayx

British Gas-owner Centrica enjoyed a huge boost from the cold snap, as consumers turned up the heating, driving consumption up by almost a fifth compared with last year.

The company, which raised prices by 6% shortly before the harsh winter set in, said any benefit from the “exceptionally cold weather” would be used to prevent further price rises “for as long as possible”.

Finance director Nick Luff said: “The fact is we make a margin selling gas. We will have made a higher margin because of the extra volume and we will use that to keep prices down during the rest of the year.”

But he said the cost of implementing the government’s energy efficiency scheme and higher transport costs would hit profits, while the gas price remains unpredictable – meaning there may be little extra to invest in keeping prices low.

Energy comparison and switching service uSwitch.com still welcomed the news at a time when consumers are struggling to pay bills. Ann Robinson, director of consumer policy at uSwitch.com, says: “British Gas has recognised the pressure facing customers and is using the financial gain from the extended cold weather to maintain its competitiveness. In plain English, this means that British Gas customers should expect no further increase in prices at least for the foreseeable future.”

Centrica faces protests at its annual meeting in London on Monday afternoon, as campaigners gather to challenge the company on price hikes, multimillion pound payouts to British Gas bosses, and plans for a new generation of gas power stations instead of cheaper, clean renewable energy.

Households’ average gas consumption was 18% higher in the first four months of 2013, compared with the same period last year, while electricity consumption was 3% higher. Residential customers in the UK also rose by 28,000 in the first four months of the year, which Centrica put down to competitive pricing and good customer service.

The company said this “strong performance” put it on course to meet expectations and deliver full-year profits before tax of £602m, down 1% on last year.

As an oil and gas producer, Centrica also benefited from higher commodity prices, and the group’s full-year earnings after tax are expected to be 2% higher at £1.4bn.

Amplats planning 6,000 job cuts

Category : Business, World News

Anglo American Platinum plans to cut 6,000 jobs in South Africa after its profits were affected by violent labour strikes last year.

Originally posted here: Amplats planning 6,000 job cuts

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BT reports rise in annual profits

Category : World News

BT reports a rise in full-year profits, a day after setting out its challenge to BSkyB’s dominance of the UK’s sports pay-TV market.

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You’ve got fail! AOL down nearly 10%

Category : Business

AOL posted decent growth in online advertising sales. But profits missed forecasts and investors were not pleased.

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Electronic Arts sees brighter 2014

Category : Business

The video game maker Electronic Arts (EA) reports lower profits, but forecasts higher earnings in 2014.

Continued here: Electronic Arts sees brighter 2014

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Sainsbury’s sales up as profits fall

Category : Business

Sainsbury’s reports a slight fall in full-year pre-tax profits, despite rising sales, and confirms it is taking full ownership of Sainsbury’s Bank

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Toyota profits double on weak yen

Category : Business

Toyota’s profits more than double in the three months to March as a weakening yen and improving sales boost the carmakers comeback.

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GM profits pulled lower by Opel

Category : Business, World News

US automotive giant General Motors reports a 14% fall in profits during the first three months of the year, with losses at its European subsidiary Opel.

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Adidas shares jump on profits rise

Category : Business, World News

Adidas, the world’s second biggest sportswear firm, posts higher profits despite seeing sales fall in the first three months of 2013.

Excerpt from: Adidas shares jump on profits rise

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