Trade unions received £108m from the taxpayer last year September 8, 2014 TRADE unions took more than £100m in government support in 2012-13, according to figures published today by the Taxpayers’ Alliance. Unions received £85m in paid staff time, the study estimated, and £23m in direct payments. “It is simply wrong that taxpayers continue to see their money used to pay thousands of trade union activists who [...]
Bolt out of blue for Schroders as fund star quits September 8, 2014 Funds group Schroders yesterday lost one of its top performing fund managers after she unexpectedly resigned from the group. The FTSE 100 fund giant, the UK’s second-biggest independent manager, said Julie Dean will step down from the group and hand over the reins of her £2.2bn UK fund immediately. Schroders unveiled fund manager Matt Hudson [...]
Oil below $100 for first time since mid 2013 September 8, 2014 THE PRICE of oil slipped under $100 (£62) a barrel yesterday for the first time since June 2013, with signs of weakening demand amid high supply. The price of Brent crude oil, the global oil benchmark, fell as low as $99.36 a barrel during trading yesterday, the lowest level since May 2013. The oil price [...]
Genel Energy sends staff back to Kurdistan as security improves September 8, 2014 GENEL Energy, the oil group focused on the Kurdistan Region of Iraq (KRI), announced yesterday it would return workers to the area because the security situation has improved “significantly”. The AIM-listed oil company, whose chief executive is former BP boss Tony Hayward, had withdrawn some non-essential personnel from the area, but staff levels would begin [...]
All change at the top as trio of firms shuffle executives September 8, 2014 BERKELEY GROUP | FINANCE CHIEF EXITS Berkeley Group yesterday said finance director Nick Simpkin had left the board with immediate effect after five years in the role. Ben Marks, financial controller, who has been with group for 10 years will be working closely with Rob Perrins, group managing director, to manage financial function pending recruitment [...]
Randgold calls for more help to fight Ebola September 8, 2014 RANDGOLD Resources has joined 10 other miners calling for a bigger global effort to fight the Ebola virus and for travel bans on affected countries to be lifted. In a statement released yesterday, the West Africa-focused company said it had a long-term commitment to the area hit by the epidemic and was continuing, where possible, [...]
Ryanair orders up to 200 planes worth huge $22bn from Boeing September 8, 2014 IRISH budget airline Ryanair has made a deal with massive US aerospace company Boeing for up to 200 of its 737 Max planes, in a deal that could be worth up to $22bn (£13.7bn) in total. The deal will see Ryanair commit to buy 100 of the new 737 Max 200 series, valued at $11bn [...]
Getech shares soar after new contract worth £3m in Angola September 8, 2014 SHARES in oil services group Getech Group yesterday soared 18.4 per cent after it announced its largest-ever single new contract, worth $5m (£3.1m). Getech, which specialises in geoscience, said it was awarded a contract by the Angolan National Oil Company, Sonangol, which oversees oil and gas exploration and production in the Republic of Angola. Getech [...]
City Moves for 09 September 2014 | Who’s switching jobs September 8, 2014 Lloyds Bank Madeleine McDougall has been appointed head of origination within Lloyds Bank Commercial Banking’s global corporate real estate business. She joins from Deutsche Pfandbriefbank, where she led its international client team in the UK. McDougall has also held roles at Eurohypo and Westimmo. EY Jason Lester has been appointed UK & Ireland managing partner [...]
Best of the Brokers for 09 September 2014 September 8, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com JUPITER FUND MANAGEMENT Numis has upgraded to “Buy” from “Add”, with the target price upped to 480p from 475p. The broker thinks the recent share price fall was unwarranted, as while short term earnings growth is likely to be low, the broker believes [...]