BEST OF THE BROKERS July 16, 2009 CAPITA GROUPDeutsche Bank upped its target price for Capita Group from 635p to 678p, but retained a “hold” rating, saying the stock deserves a premium but there may be better times to buy. The broker said the outsourcing group is well placed to grow and will remain a premium stock in its sector. It also [...]
CITY MOVES WHO’S SWITCHING JOBS July 16, 2009 Dairy CrestDiary Crest announced that Anthony Fry (pictured), who was appointed to the board in July 2007, took on the role of deputy chairman yesterday. He will take over from Simon Oliver as chairman on 1 January 2010 when Simon will retire from the Board. Simon will take on the position of honourary group president. [...]
Demand for flatscreen TVs pushes LG to profit July 16, 2009 SOUTH Korea’s LG Display returned to profit after two quarters of losses, spurred by robust demand for flat-screen TVs that is expected to power the industry through most of the year. The LCD sector, one of the few bright spots in the weak global technology sector, is benefiting from the popularity of liquid crystal display [...]
Sales slump at Spectris July 16, 2009 Precision instrument and controls company Spectris said sales took a further hit in the first half on weak car and mining sector demand, hurting its shares and prompting analysts to cut 2009 forecasts again. The British company, whose products have helped reduce fuel costs at power stations and cut the noise made by Japan’s Bullet [...]
Finsbury suitor walks away July 16, 2009 Finsbury Food Group, the bread and cakemaker, has confirmed that talks over a possible offer for the company have been called off. On 1 June, Finsbury announced that discussions were underway but then warned that the approach was only “exploratory in nature” and expressed “considerable doubt” that an offer would materialise.
Sterlite to raise almost 1bn July 16, 2009 Indian metals producer Sterlite said yesterday it is raising about $1.5bn (£916m) in an issue of American Depository Shares (ADS), with parent Vedanta to buy $500m of the issue. The proceeds would be used to develop its power generation business in India, capital expenditure and for planned acquisitions, it said in a statement. The deal [...]
Petrofac wins Abu Dhabi deal July 16, 2009 Petrofac, the British oil and gas services firm, has sealed a $2.1bn (£1.3bn) deal to construct the fourth natural gas to liquids train at the Abu Dhabi-based Ruwais complex. It is the first project that Petrofac Emirates – a joint venture between Petrofac and Abu Dhabi’s Mubadala Petroleum Services – has been awarded and work [...]
MARTHA LANE FOX REVEALS SHE COULD HAVE BEEN A PRISON GUARD July 15, 2009 GORDON Brown’s new digital inclusion tsar Martha Lane Fox has had a stellar career to date, but it’s reassuring to learn that she could happily turn her hand to something else should she tire of running Lucky Voice and charitable foundation Antigone. Because Lane Fox has revealed that, in another life, she would have been… [...]
Sainsbury’s chair faces two jobs row July 15, 2009 J SAINSBURY chairman Sir Philip Hampton yesterday faced questions over his £396,000 pay packet and whether he had enough time to be the chairman of both Sainsbury’s and Royal Bank of Scotland (RBS). One shareholder at the retail giant’s annual meeting called on Hampton to halve his pay as long as he did both jobs. [...]
Microsoft topples Google as consumers’ top brand July 15, 2009 SOFTWARE giant Microsoft has reclaimed its title as the number one UK brand in the UK, overthrowing rival Google, which claimed the crown last year. Bill Gates’ firm moved from second to first place in the 12th annual Superbrands survey, dealing its latest blow in the ongoing battle between the firms for industry dominance. In [...]