Construction outlook weak October 4, 2010 Activity in the construction sector picked up in September, but firms’ confidence about the future fell to an 18-month low on worries about government spending cuts, a survey of purchasing managers showed yesterday. The Markit/Chartered Institute of Purchasing and Supply construction PMI rose to 53.8 in September from 52.1 in August, confounding expectations for an [...]
IPO candidate Edwards sees stronger second half October 4, 2010 Edwards Group, the vacuum technology firm that is preparing for a sale or flotation, said it “rapidly recovered” from the global downturn and would grow sales and profits further in the second half of the year. In a statement, the firm said first-half net sales rose 74 per cent compared to a year earlier, to [...]
M&A deals surge to 2008 levels October 4, 2010 WORLDWIDE merger and acquisition (M&A) activity surged 21 per cent in the last quarter showing the strongest growth since 2008, new data from Thomson Reuters showed yesterday. The third quarter of this year saw a total of $676.9bn (£427.2bn) worth of M&A deals, it said. The number of deals was up 3.8 per cent year-on-year [...]
Yell names Tony Bates as its new head of finance October 4, 2010 YELLOW-PAGES publisher Yell appointed Tony Bates, a former executive at telecoms provider Colt and music label EMI, as its new finance chief yesterday. Bates, 54, said in July he would step down as CFO of corporate telecoms specialist Colt, where Yell said he had been instrumental in turning the business around to becoming cash-generative, debt-free [...]
ISA sales reach highest ever level after increase in personal allowances October 4, 2010 ISA sales more than doubled in the last year rising to a record figure of £400m a month taking the total sales figure to £14.6bn for the year, the Investment Management Association (IMA) said yesterday. The figures showed ISA sales had reached their highest level since they were launched in 1999 as savers showed a [...]
Talk of Quorn sell-off ignites Premier stock October 4, 2010 SHARES in Premier Foods shot up more than 10 per cent yesterday in response to the news that it may sell its Quorn brand to an unnamed suitor. The FTSE 250-listed firm closed up 10.43 per cent yesterday at 17.9p. The shares remain nearly 60 per cent short of their 12-month high. Premier confirmed on [...]
High-end homes drop in price October 4, 2010 THE COUNTRY’S most expensive homes have shed 1.5 per cent of their value in the last 12 months, suggesting demand remains low even as supply starts to tail off, according to research out yesterday. The dip has likely been caused by high net worth individuals deciding not to move to the UK, while others are [...]
London &?Stamford sells Aintree shopping centre October 4, 2010 PROPERTY investor London & Stamford completed the £101m sale of its shopping centre near Aintree racecourse yesterday. The firm, which last week listed on the London Stock Exchange and turned into a more tax-efficient real estate investment trust (REIT), sold the Liverpool mall to the Crown Estate, the royal family’s land portfolio. The Guernsey-based company [...]
Rockefeller snaps up 75pc of Europa Capital to extend its reach in Europe October 4, 2010 THE ROCKEFELLER Group has bought a 75 per cent stake in Europa Capital, as the American property investor branches out into Europe. Rockefeller, one of the oldest real estate groups in the US, paid an undisclosed amount for the stake in the London-based Europa. “The alliance with Europa is a significant step in the realisation [...]
ANALYST VIEWS: SHOULD PREMIER INVESTORS BE CELEBRATING October 4, 2010 MARTIN DEBOO | INVESTEC With the valuation at rock bottom, the share price is on a hair-trigger. We think today’s bounce is directionally appropriate – the disposal of Quorn on decent terms would be a good deal for shareholders. GRAHAM JONES | PANMURE GORDON The rise in share price shows that any deleveraging is good [...]