Ethiopian order with Boeing is biggest from an African airline September 21, 2014 BOEING has announced that has received its biggest order of planes from an African airline after Ethiopian Airlines decided to purchase aircraft worth $2.1bn (£1.3bn). Ethiopian Airlines will buy 20 Boeing 737 Max 8 planes, with the option to buy a further 15 of the single-aisle aircraft. Ethiopian Airlines chief executive Tewolde Gebremariam said: “(The) [...]
Velocys-backed fuel plan gets $70m US grant for new plant September 21, 2014 ENERGY innovator Red Rock Biofuels has been awarded a $70m (£43m) grant to construct a biomass-to-liquids (BTL) plant in Oregon incorporating Velocys Fischer-Tropsch technology. “We are very pleased to see the Red Rock project moving ahead,” said Roy Lipski, the chief executive of Velocys – a technology innovator for smaller scale gas-to-liquids. “This $70m government [...]
City Moves for 22 September 2014 | Who’s switching jobs September 21, 2014 Altium The mid market financial advisory group has announced two appointments to its UK debt advisory practice. Simon Chambers (pictured) and Richard Clark both join as managing directors from DC Advisory. Clark has also held roles at Close Brothers, Houlihan Lokey and JP Morgan. Chambers has previously worked at Barclays, and also as an engineer [...]
Best of the Brokers for 22 September 2014 September 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com CHEMRING Canaccord Genuity has upgraded to “hold” from “sell”, with the target price raised to 225p from 160p. The broker thinks that as geopolitical tensions have heightened, Chemring is likely to experience positive momentum due to its high exposure to short-cycle, conflict-related products. [...]
London Report: German finance figures to come under spotlight September 21, 2014 THE FLOW of macroeconomic data will slowdown significantly over the coming week, with the key risk events moving towards the Eurozone. In particular, investors will be watching out for the latest manufacturing sector purchasing managers’ indices from the euro area. Economists at Credit Suisse indicated that a half-point increase in the PMI would be consistent [...]
New York Report: S&P closes in on landmark 2,000 points September 21, 2014 US STOCKS have been on a roll of late, with the S&P 500 hitting the latest in a series of records on Thursday, and investors expect the index’s momentum to soon carry it to – if not past – the 2,000 milestone. The S&P is about 10 points, or 0.4 per cent, from that landmark, [...]
On the right track: KBH On-Train Media’s Ian Reynolds talks train adverts September 21, 2014 If you commute into London on an overground train, chances are you’ll have seen dozens of ads placed by KBH in recent years. The UK’s largest rail media specialist, it claims to reach around 6m consumers a month, 4m of which are in the lucrative commuter bracket. These figures look set to grow. The [...]
Downing Street confirms that government will follow through on devolution September 21, 2014 The Prime Minister has moved to quell suggestions it won't deliver devolution as promised. What is devo max? Read our explainer here. There had been talk, fuelled by Michael Gove, that the transfer of certain powers to Scotland might hinge on restrictions on Scottish MPs' voting rights. A government source was unequivocal: There was an unambiguous [...]
US and Canada urge EU to take action over “insipid growth” September 21, 2014 The US and Canada have urged the EU to do more to boost its flagging economy as Europe suffers from low growth and disinflation. At the G20 meeting in Cairns, Australia, US treasury secretary Jack Lew warned that if "efforts to boost demand are deferred for too long there is a risk that the headwinds get [...]
Arsenal aim for “pinnacle of the game” after revealing profits drop but turnover increase September 21, 2014 Arsenal Football Club has released its latest financial figures, revealing that the north London club's profit before tax for the year ended May 31, 2014 has dropped by £2m, from £6.7m a year ago to £4.7m now. However, the club's group turnover has increased from £280.4m to £301.9m, with football-related turnover up to £298.7m [...]