Brick Lane welcomes Tech City wiff waff June 5, 2014 FACEBOOK lost against Funding Circle in the final of last night’s Ping Pong Fight Club, an event bringing together London’s more hand-eye co-ordinated tech companies, just off Brick Lane. Organised by Mind Candy – the tournament saw 14 of Tech City’s finest battle it out for the crown of Ping Pong Champ. Fancy it? Mind [...]
Matthey profits soar but warns on year ahead June 5, 2014 CHEMICALS firm Johnson Matthey yesterday warned on flat profits this year, due to adverse foreign exchange movements and the loss of a contract with Anglo Platinum, sending its share price down one per cent. A 17 per cent jump in pre-tax profit to £406.6m for the year ended 31 March and a 10 per cent [...]
Bellway says order book for new homes is way ahead of last year June 5, 2014 HOUSEBUILDER Bellway said yesterday that it was confident Britain’s strong housing market would continue to grow, as it reported that its order book for new homes was “significantly ahead” of where it was last year. The company that its order book of homes due for completion after 31 July stood at £670m, compared to £380m [...]
APR Energy finance chief to step down June 5, 2014 TEMPORARY power provider APR Energy yesterday said its chief financial officer Andrew Martinez has decided to step down from 1 September “to pursue other interests”. Martinez joined the London-listed firm in 2011 and took on the finance chief role in 2012. Lee Munro, currently APR’s senior vice president of strategy and systems, will take on [...]
WPP branches out into India June 5, 2014 ADVERTISING giant WPP announced yesterday that its wholly owned partners, Bates CHI&Partners, had agreed to acquire the business and assets of Temple Advertising Private, a boutique advertising agency based in Bangalore, India. Founded in 2004 and employing about 40 people, Temple Advertising Private has worked with leading Indian brands in the media, entertainment, automotive and real estate [...]
Rexam hires former Tata chief executive June 5, 2014 Packaging firm Rexam has hired former Tata Motors chief executive Carl-Peter Forster as a non-executive, the FTSE 100 firm said yesterday. Forster will join the board on 10 June, and led the parent of Jaguar Land Rover from January 2010 to September 2011.
Galliford Try wins Midlands road contract June 5, 2014 Housebuilder and construction firm Galliford Try has been hired as a framework contractor to provide road maintenance on part of the Midlands highways network, in a contract the company believes will be worth as much as £81m.
City Moves for 04 June 2014 | Who’s switching jobs June 5, 2014 IFM Investors The fund management firm has announced the appointment of John Carey as an investment director for European infrastructure debt in its debt investments team. He has over 13 years’ infrastructure experience and was most recently at Moody’s, where he was a senior analyst for infrastructure finance. Prior to that, he was a director in [...]
Best of the Brokers for 06 June 2014 June 5, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com POUNDLAND JP Morgan, which last month won the joint broking mandate for Poundland, has upgraded the retailer from “neutral” to “overweight” with an unchanged price target of 377p. The broker thinks the effects on Poundland of Tesco’s pound aisle trial are likely to [...]
London Report: FTSE in slight slip but Asos crashes on Aim June 5, 2014 THE FTSE 100 yesterday ended lower, as the country’s equities were hit by a stronger pound in the wake of a round of aggressive stimulus measures from the European Central Bank. As the ECB cut its main lending rate to 0.15 per cent from 0.25 per cent – and the interest rate on its deposit [...]