Mining giant BHP Billiton Ltd. reported Wednesday a 19 percent year-over-year increase in iron ore production for the fourth quarter, and a 15 percent growth from the previous third quarter. Production of metallurgical coal grew 9 percent. Total iron ore production for the full-year 2014 also increased 20 percent, delivering its fourteenth consecutive annual production record.
Chipmaker ARM Holdings Plc. (ARM.L, ARMH) Tuesday said profit for the second quarter increased significantly from last year, as sales improved with increase in demand for the company's technology in smart mobile devices, consumer electronics and embedded computing chips.
British supermarket chain Tesco Plc. Monday warned that first-half sales and trading profit are somewhat below expectations as the current trading conditions are more challenging than expected earlier. Following this, Philip Clarke, chief executive officer, decided to step down. Tesco shares are gaining around 3 percent in the morning trading in London.
The Ernst & Young ITEM Club estimates the U.K. economy to post the strongest growth among the G7 nations as investment from firms is set to surprise on the upside. The think tank projected 3.1 percent growth for this year, which is higher than the 2.9 percent predicted in the previous Spring forecast. The economy started to rebalance from consumption towards investment and ultimately exports.