City jobs at highest level since 2007 … October 5, 2010 THE number of job vacancies in banking and financial services has reached levels not seen since before the credit crunch, a forecast by a City recruitment consultancy claimed yesterday. Recruitment firm Ambition said job vacancies in the City were now up 260 per cent on the first quarter of 2009, which was at the height [...]
… but UK job demand falls October 5, 2010 OVERALL demand for staff among employers across the UK grew at its slowest rate in almost a year last month, a report published today will show, prompting fears the economy may be slipping back into recession. The Recruitment and Employment Confederation (REC)/KPMG report showed a slower rise in both permanent and temporary vacancies during the [...]
Big three recruitment firms are expected to post solid growth October 5, 2010 THREE of the capital’s largest recruitment firms are due to provide trading updates this week. Robert Walters is due to report third quarter gross profit today. Hays is due to publish first quarter growth figures tomorrow, while Michael Page will announce third quarter figures on the same day. Fund managers Collins Stewart yesterday forecast gross [...]
Restructuring cuts Northern Foods’ costs October 5, 2010 food manufacturer Northern Foods saw sales growth accelerate in its second-quarter and said it was changing the structure of its business to save money as it braces for a possible double-dip recession. “We don’t know whether there’s going to be a double-dip or not but we are planning for it and keeping a weather eye [...]
Kazakhmys chairman offloads chunk of shares to the Kazakh government October 5, 2010 Kazakhmys chairman Vladimir Kim has sold nearly a third of his stake in the company to the Kazakh government for about $1.3bn (£818m), sparking concerns about increasing government involvement in the copper producer. Kim sold about 11 per cent of the London-listed company to diversify his investments ahead of a possible secondary listing next year [...]
Grainger is upbeat on residential October 5, 2010 The largest quoted housing landlord, Grainger, said yesterday it expects the valuation of its cornerstone residential property portfolio to outperform the market when it issues its full-year results in late November. Chief executive Andrew Cunningham said the 13,000-property portfolio, about half of which is in London and the south east of England, would benefit from [...]
HARBINGER SELLS 14.1PC OF INMARSAT October 5, 2010 US hedge fund Harbinger Capital Partners has halved its stake in satellite operator Inmarsat, headed by Andy Sukawaty (above), ending constant bid speculation. Harbinger, which still holds 14 per cent of the stock, sold 65m ordinary shares at 630p per share or £410m, after deciding not to make a full offer.
Pandora lists in strong $2bn market debut October 5, 2010 Pandora, the Danish jeweller, made a strong debut in one of Europe’s largest bourse listings this year, worth up to $2.1bn (£1.3bn), as investors bought into prospects for its main product – charm bracelets. Analysts said Pandora’s high growth and strong margins made its initial public offering (IPO) attractive to investors hungry for new stock [...]
Gymboree hires Goldman Sachs to consider float October 5, 2010 Children’s apparel retailer Gymboree is understood to have hired Wall Street investment bank Goldman Sachs to begin a formal auction of the company, which could fetch more than $1bn (£628m). Sources close to the deal, who declined to be identified by name because they were not authorised to speak with the media, confirmed the move [...]
German carmakers speed ahead in popularity October 5, 2010 WHILE the flocks of motor enthusiasts descending on Paris this week for the 2010 Motor Show may suggest otherwise, prospects are less than rosy for the automobile industry. During July and August there were decreases of 18.6 per cent and 12.9 per cent in like-for-like sales, compared to the same months last year. With over [...]