Stobart shareholders get £31.1m after partial sell-off of its trucks June 26, 2014 Infrastructure and support group Stobart yesterday announced that its partial sale of the iconic Eddie Stobart truck business had enabled it to returned £31.1m to its shareholders. The £195.6m sale also helped it to repay in full a £100m loan from M&G Investment Management. In the period between 1 March to date, the Warrington-based group [...]
Astrazeneca knocked by US regulator drug verdict June 26, 2014 UK pharma giant Astrazeneca was dealt a blow yesterday when US regulators knocked back its bid to gain accelerated approval for a new ovarian cancer drug. Astrazeneca’s pipeline is under particular scrutiny after chief exec Pascal Soriot boasted of a bright and innovative future while fighting off a £69bn takeover bid from US rival Pfizer [...]
Galliford Try bags £82m after scoring four building projects June 26, 2014 GALLIFORD Try announced yesterday that it has won four projects worth £82m just days after securing a £100m housing contract. The firm’s Scottish business Morrison Construction has signed a £26.4m deal with Hub South West Scotland and North Lanarkshire Council to design and construct three schools and a nursery in Wishaw. Work on the Clyde [...]
City Moves for 27 June 2014 | Who’s switching jobs June 26, 2014 Deloitte Real Estate Deloitte’s real estate business has promoted five to partner. Jamie Olley (pictured) works in its City investment team. Mathew Evans-Pollard works in planning and development, Mike McChesney in lease advisory, Leonie Oliva in planning and Guy Palmer in procurement. Squire Patton Boggs The law firm has appointed Andrew Walker as UK head of [...]
Best of the Brokers for 27 June 2014 June 26, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com IMAGINATION TECHNOLOGIES UBS has kept its “buy” rating for Imagination Technologies, increasing the target price to 300p from 250p. The broker sees operational momentum improving at the company, a wide breadth of licences providing greater diversification, and demonstrated resilience in royalty rates. SHIRE [...]
London Report: FTSE flat as Barclays fall is countered by housebuilder climbs June 26, 2014 BARCLAYS Bank’s shares plummeted 6.5 per cent yesterday as the FTSE index ended flat despite a rally in housebuilders on Bank of England comments. The FTSE 100 closed on 6,735.12 up 0.02 per cent or 1.5 points. The market was also underpinned by the London Stock Exchange Group, which surged 6.1 per cent after unveiling [...]
New York Report: Dow down on rates rise call June 26, 2014 US STOCKS ended slightly lower yesterday, after the president of the Federal Reserve Bank of St Louis said interest-rate increases should come sooner rather than later. The Dow Jones industrial average fell 21.38 points or 0.13 per cent, to end at 16,846.13. The S&P 500 slipped 2.31 points or 0.12 per cent, to 1,957.22. The [...]
Over four in ten Britons think the country is in good economic shape June 26, 2014 Twice as many Britons have confidence in the UK economy compared to the same period last year, according to the latest Ipsos Mori data. The Ipsos Global @dvisor survey shows more than four in ten rating the UK's current economic situation as "good", double the 21 per cent saying the same twelve months ago. As [...]
When was London last not No1 for average loan-to-income lending? Less than 20 years ago June 26, 2014 As many people were expecting, the Bank of England (BoE) has moved to control mortgage lending, restricting to 15 per cent the proportion of mortgages that can exceed a loan-to-income ratio (LTI) of 4.5. A look at recent data from the Council of Mortgage Lenders (CML) however shows that nowhere in the UK has ever approached that [...]
Drones use cameras to politely interact June 26, 2014 “You first!” “After you!” “Thanks, but I must insist!” “This is getting silly” It is not out of the question that drones will engage in this sort of amicable conversation in the near future. Professor Sandor Veres and his colleagues at the University of Sheffield have created a system in which flying robots use cameras [...]