Economic gloom fuels Cineworld's strong showing
Sunday 16 August 2009
Britain's second-biggest cinema chain, Cineworld, is likely to post strong first-half numbers this week, as punters opt for cheaper entertainment at the flicks.
The group, which operates 71 multiplex cinemas in the UK, has been buoyed by the success of films such as Slumdog Millionaire, which has earned £30m since it was released in January, as well as other blockbusters such as Yes Man and Role Models. Cinemas historically perform well during economic downturns, providing affordable escapism in times of economic gloom.
In a quiet week for the City, mining giant Rio Tinto also publishes its first-half figures. After one of the most turbulent six months in the company's history, analysts will be looking for further details on how management plans to cut its giant $23bn (£13.9bn) debt. Earlier in the year, Rio raised $15bn ina rights issue. A public listing for its US coal subsidiary is being lined up, while assets bought as part of the Alcan deal could be shed. Rio's management is currently defending itself over bribery charges against some of its Chinese executives.
Two of the UK's biggest car dealerships, Pendragon and Lookers, will also report. Investors will scrutinise the pair's numbers to assess whether the Government's car scrappage scheme has made a discernable difference to the ailing car market in Britain.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...