BBA Aviation profits lifted March 5, 2014 Plane services firm BBA Aviation yesterday posted an eight per cent rise in pre-tax profits to $170.5m, slightly short of forecasts, and unveiled plans to buy back shares worth $125m. The FTSE 250 firm said profits rose two per cent to $2.2bn, which it hailed as a strong result given the lack of growth in [...]
Eurostar carries 10m a year March 5, 2014 Eurostar, which runs the passenger trains to the continent, carried 10m people last year and posted a seven per cent rise in sales revenue to £857m and operating profit up four per cent to £54m. “After a period of economic uncertainty we are now starting to see more confidence in the business market,” said boss [...]
Sportech looks to US for growth March 5, 2014 Gambling company Sportech is aiming to expand further in the US by offering internet betting on horse racing in Connecticut and opening sports bars there and in California. The move follow the liberalisation of gambling legislation In a number of states. It reported a pre-tax profit of £5.2m for 2013, up from £1.3m in 2012. [...]
City Moves for 06 March 2014 | Who’s switching jobs March 5, 2014 BNP Paribas The investment bank has appointed Stephanie Sfakianos as head of sustainable capital markets for fixed income. She was most recently its head of liability management, having joined the bank in 2002. Sfakianos previously held fixed income roles at Deutsche Bank and HSBC. Allen & Overy The law firm has hired Karan Dinamani as a partner [...]
Best of the Brokers for 06 March 2014 March 5, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DIGNITY Panmure Gordon keeps its “buy” rating on the funeral provider and raises its target from 1,600p to 1,800p following strong full-year results yesterday. The broker is impressed by the firm’s growth combined with good cost control. IAG Cantor Fitzgerald keeps its “hold” [...]
London Report: FTSE falls again as tensions in Ukraine make traders wary March 5, 2014 THE UK’S top share index fell again yesterday after rebounding from two-week lows in the previous session, with updates from some companies disappointing investors and tensions over Ukraine weighing on sentiment. Engineering turnaround specialist Melrose fell 7.8 per cent, the top decliner on the FTSE 100 index, after warning of challenging market conditions and saying [...]
New York Report: Wall St shrugs off tensions March 5, 2014 THE S&P 500 finished almost flat yesterday, a day after closing at an all-time high, as investors shrugged off soft data on jobs and the services sector while keeping an eye on developments in Ukraine. The market showed little reaction to the Federal Reserve’s Beige Book, as the Dow Jones industrial average fell 35.70 points [...]
This is why Barclays is firing 12,000 workers March 5, 2014 For every £100 Barclays brings in, it pays £42.70 to its staff. That might not sound bad – it still has £57.30 to cover all its bills and turn a profit. But compare it with HSBC. For every £100 HSBC brings in, just £24.80 goes in staff costs. That astonishing contrast means Barclays pays workers [...]
Wilshere out, Huddlestone in: How the stats say England’s World Cup squad should look March 5, 2014 One glance at Roy Hodgson should tell you that the England football manager is no slave to fashion. Yet statistical analysis of his latest squad selection suggests some players at less glamorous clubs might be being unfairly overlooked. Take Tom Huddlestone (Roy seemingly won’t). The Hull City midfielder is playing well enough to be in [...]
Can you handle these 3 facts on immigration? March 5, 2014 Last night, a Newsnight report claimed the publication of a much-anticipated cross-governmental report on immigration has been put off by Downing Street, because it points to immigration having a smaller impact than the government claims. The BBC's detailed how Number 10 sources have said the report isn’t ready for release, but how, according to officials, [...]