GlaxoSmithKline set to expand in African markets March 31, 2014 GLAXOSMITHKLINE will today outline its expansion plans in Sub-Saharan Africa, building new factories across the region to tap into opportunities in emerging markets. A spokesperson from the FTSE 100-quoted pharmaceuticals giant told City A.M. that the multimillion-pound investment is part of a broader announcement by chief executive Sir Andrew Witty at the EU-Africa Business Summit [...]
AstraZeneca to build disease research centre in Cambridge March 31, 2014 DRUGS giant AstraZeneca and the Medical Research Council will today announced that they are building a new research and development centre in Cambridge, to better understand a range of human diseases. The centre will be located within the new AstraZeneca site at the Cambridge Biomedical Campus, due to be completed in 2016. Under the collaboration, [...]
Sports agency wins big on PGA tour March 31, 2014 Three players on the books of TLA Worldwide have won consecutive golf tournaments of the PGA Tour during March, the sports agency has announced. Patrick Reed clinched the World Golf Championships at the start of the month, followed by John Senden’s victory at the Valspar Championship and Matt Every’s win at the Arnold Palmer Invitational. [...]
Lukoil starts output at Iraq oil field March 31, 2014 Lukoil has started commercial production from the West Qurna-2 oil field in Iraq. The Russian oil company said at the weekend that it reached its target output level of 120,000 barrels per day on Friday. According to the contract between Lukoil and the Iraqi government, the firm must maintain that level of production for the [...]
Dongfeng profits top expectations March 31, 2014 China’s Dongfeng Motor Group reported a better-than-expected 16 per cent rise in 2013 profit yesterday due to a rebound in sales at its Japanese partners. The carmaker, which on Wednesday agreed to buy a stake in struggling French peer PSA Peugeot Citroen, said net profit was 10.53bn yuan (£1.02bn), according to a statement via the [...]
Galasys set to ride on London’s market with £7m flotation plan March 31, 2014 THEME park ticketing firm Galasys is preparing to raise £7m on London’s alternative investment market (Aim) before Easter to fuel expansion outside of its Asian home market. The Kuala Lumpur-based firm provides ticketing systems to theme parks in China and Malaysia and is seeking a market valuation of up to £30m at its initial public [...]
Upper Street takes £750k for online growth March 31, 2014 LUXURY made-to-order shoe firm Upper Street has secured £750,000 investment from Venrex Investment and Aspire Fund as the fashion brand looks to grow its online platform. Co-founder Julia Grinham said the investment, “will enable us to execute our growth plans for the business and become a leader in affordable personalised luxury footwear.”
City Moves for 31 March 2014 | Who’s switching jobs March 30, 2014 Trowers & Hamlins Rebecca Wardle has been appointed real estate partner in the law firm’s London office. She specialises in large-scale property transactions, with a focus on site acquisition, development, joint ventures and estate regeneration. Edmond de Rothschild Group Greg Clerkson has been appointed head of global consultant relations in Edmond de Rothschild’s asset management [...]
Best of the Brokers for 31 March 2014 March 30, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ITE GROUP Peel Hunt has placed ITE Group under review following a serious currency hit for the conferencing group and added effects of lost Ukrainian sales. The broker said that for 2015 the ongoing geopolitical impact of the Russian conflict with Ukraine has [...]
London Report: Mortgage lending data to shine light on housing boom March 30, 2014 MORTGAGE approval data for February, due out today, are likely to highlight more growth in the heated housing market. The figures will be closely watched after the Bank of England last week warned some borrowers may be overstretching themselves in the current fast-moving market. Purchasing Managers’ Index (PMI) data for manufacturing, construction and services published [...]