M&G loans £100m to Stobart June 1, 2010 M&G Investments yesterday said it had arranged for its UK companies financing fund to extend a 10-year £100m loan to logistics firm Stobart Group. The loan will be used to pay down Stobart’s existing bank debt and to fund further investment, including developing Southend Airport, which was granted consent for a runway extension in March. [...]
EADS loses out on euro weakness June 1, 2010 Aerospace group EADS’s hedging programmes will prevent the company from taking advantage of the weaker euro over the next two years, chief executive Louis Gallois told shareholders yesterday. Gallois noted a hedging programme would mute currency impacts for 2010, 2011 and at least part of 2012 but said the stronger dollar “will certainly improve profitability [...]
Capita buys Premier Medical June 1, 2010 Capita Group has acquired medical reporting and screening specialist, Premier Medical, for £60m on a cash-free, debt-free basis. According to the outsourcing giant, the move adds “depth and breadth of expertise” to its existing services for the health market, which include running the NHS Choices programme and the health informatics firm, CHKS.
MICHAEL O’LEARY STEPS UP ATTACK ON ‘PERMA-TANNED’ UNION LEADER June 1, 2010 RYANAIR’S Michael O’Leary isn’t known as a man his rivals could turn to in a jam, but it appears leopards really can change their spots. Just a few weeks ago, O’Leary lashed out at the Unite union, which is representing British Airways cabin crew in a series of damaging strikes, labelling them a “bunch of [...]
House prices rise again June 1, 2010 HOUSE prices in England and Wales rose 0.2 per cent on the month in April, according to figures from the Land Registry. The government agency said that left the average price of a home at £165,596. The annual rate of house price inflation stands at 8.5 per cent. Prices have been rising fastest in London [...]
Eurozone unemployment tops 10 per cent June 1, 2010 THE eurozone jobless rate has surged to a near 12-year high of 10.1 per cent in April. There was a rising number of people without work in Spain, Portugal and Italy. Analysts noted that this was the smallest monthly rise since last November. Howard Archer of IHS Global Insight said: “We remain doubtful that the [...]
Weak pound fuels robust exports June 1, 2010 THE weak pound boosted exports with May another positive month for manufacturers. Demand for British goods is on the rise despite the tough economic climate. The Chartered Institute of purchasing and Supply (CIPS) said its index of activity, carried out by Markit, was stable at 58 in May. Under the data anything about 50 represents [...]
Gartmore’s Rambourg faces fresh FSA probe June 1, 2010 THE Financial Services Authority (FSA) is to launch its own probe into Gartmore star fund manager Guillaume Rambourg, sparking fresh uncertainty over his long-term future at the fund firm. The investigation comes just a month after Rambourg returned to the firm as an analyst following an internal probe that found he had breached internal regulations [...]
AIG rejects new Pru offer June 1, 2010 AMERICAN International Group has rejected Prudential’s move to lower the price its is offering for the company’s Asian arm AIA. The snub threatens to derail the industry’s largest ever transaction. Prudential said in a statement it had proposed to cut the deal’s value to $30.38bn (£20.9bn) – offering $23bn in cash and about 2.16bn new [...]
Ryanair to pay dividend after £289m profit June 1, 2010 RYANAIR has reported pre-tax profits of €341m (£289m) for the year to March – and announced a one-off dividend to shareholders. Passenger numbers were up 14 per cent on last year while revenue jumped two per cent. investors will share a dividend pot of €500m on the strength of the results. The profit represents an [...]