US Federal Reserve chairman Ben Bernanke took the air out of a rally in the price of oil yesterday when he gave no signal of imminent action to help the US economy.
Bernanke said the Fed remains ready to act if European troubles threatens the US. However, he did not indicate that any new steps were on the way. Traders had hoped for hints of a stimulus, particularly after a weak jobs report for May.
Eastern’s new bird hit with charters
Eastern Airways, the UK’s second-largest regional airline, yesterday took delivery of a second Embraer 145 plane, taking the total number of the Brazilian-made jets in its fleet to four.
Chris Holliday, the Humberside-based airline’s chief operating officer, said: “Last year’s reintroduction of the Embraer 145 proved very popular with the charter market.”
Special dividend at Johnson Matthey
Johnson Matthey, the world’s largest supplier of catalytic converters, provided a boost for its share price yesterday by revealing a sharp rise in profits and a windfall for investors.
The group’s stellar performance, which included a 58 per cent hike in full-year profits to £409.3 million, prompted it to award shareholders a special dividend worth 100p a share – a total payout equating to £212m.
US benefit claims down by 12,000
The number of Americans lining up for new jobless benefits fell last week for the first time since April, a hint that a slowdown in hiring last month may only be temporary.
The data on state unemployment claims, released yesterday, takes some of the edge off a report last week that showed a sharp slowdown in job creation in May. Claims for benefits dropped 12,000 to a seasonally-adjusted 377,000.
Network Rail profits and net debt rise
Network Rail saw its annual profit after tax more than double to £754 million last year, but net debt rose by more than £2 billion to £27.3bn as a result of increased spending on rail infrastructure projects.
The not-for-dividend company, which has its debt guaranteed by taxpayers, also said it was able to return £153m to the Scottish and UK governments over the past two years as its financial performance improved.