Cybersecurity now the City’s biggest priority April 16, 2014 MOST finance firms plan on hiking spending on cybersecurity and data management this year, according to a study published yesterday by recruiters Robert Half. Coping with new regulations had dominated the survey of chief financial officers (CFOs) for several years, and the change onto security marks a new era in challenges facing the sector. The [...]
MPs urge government to keep census amid concerns over data April 16, 2014 A COMMITTEE of MPs are calling on the government not to scrap the national census, amid concerns that Whitehall is not making the most of the data it already collects. Bernard Jenkin MP, chair of the public accounts committee, said: “The government has previously indicated that the ten-yearly census should be axed, but we believe [...]
Moelis & Co shares rise on debut April 16, 2014 SHARES of boutique investment bank Moelis & Co rose almost five per cent in their debut yesterday, after it cut the size of its offering and priced below its targeted range. The bank, founded by Wall Street investment banker Ken Moelis (pictured), raised about $163m (£97m) after pricing at $25 a share, below the expected [...]
Evraz’s steel production falls in first quarter but prices improve April 16, 2014 RUSSIAN steelmaker Evraz yesterday blamed scheduled maintenance works for an eight per cent drop in crude steel production in the first quarter, but said prices for its products had started to pick up at the end of the period. The heavily indebted FTSE 250 company, which is drastically cutting costs this year, said it expects [...]
Persimmon says house demand is up across UK April 16, 2014 HOUSEBUILDER Persimmon said yesterday that demand for new houses continued to strengthen, helped by government intervention to help first-time buyers. Persimmon, which builds homes across the country apart from central London, said its new financial year had started well, with private sale rates per site up 25 per cent in the first 15 weeks of [...]
Grainger snaps up 61 homes in Kensington & Chelsea for £160m April 16, 2014 RESIDENTIAL landlord Grainger has bought a portfolio of homes in London’s golden postcodes of Kensington and Chelsea for £160m which it plans to refurbish. The company said yesterday it has purchased 61 freehold houses from Property Investments Limited located across nine streets in Knightsbridge and Chelsea. Of the 61 properties, 45 are regulated tenancies and [...]
Distribution firm Bunzl soars on acquisitions and rise in revenue April 16, 2014 BUNZL, the distribution and outsourcing firm, saw its shares climb yesterday after it unveiled three new acquisitions and a rise in revenue and profit. The FTSE 100 company said that trading was in line with expectations, with revenue up five per cent in the first quarter compared to the same period last year, while operating [...]
Fast growing Quindell adds more contracts to boost profits April 16, 2014 Quindell, the fast growing insurance claims processor, yesterday said a spate of contract wins helped double profits last quarter to £65.9m. The business, which counts RAC and Direct Line as customers, has caught the eye of investors since it listed on the junior stock market due to its rapid business growth. Just two years ago [...]
Weather hits trading at Hunting April 16, 2014 Energy services firm Hunting said yesterday trading in the first quarter had been slower than expected due to adverse weather in North America and project delays in Asia. Hunting said it remained comfortable with its full-year outlook, despite the disappointing first quarter. Hunting said demand in the Gulf of Mexico was strong and construction for [...]
LME loses first stage of appeal April 16, 2014 The London Metal Exchange (LME) yesterday lost the first stage of an effort to appeal against a court ruling which halted a reform aimed at reducing logjams at its global network of warehouses. Last month, the High Court ruled in favour of aluminium producer Rusal, which feared falls in aluminium prices if the LME changed [...]