Waste water treatment deal for Gibraltar October 6, 2014 The government of Gibraltar has appointed a joint venture between Northumbrian Services and Modern Water to construct a new waste water treatment plant. Modern Water is lead contractor on the design and build of the plant with a current contract value of around £22m, which is higher than the firm’s market cap of £21.7m.
City Moves for 7 October 2014 | Who’s switching jobs October 6, 2014 Brooks Macdonald International (BMI) The investment manager has appointed Darren Zaman as chief executive of its offshore business. He was chief executive of DPZ Capital, a wealth management firm acquired by BMI in April. Zaman has also held roles at HSBC Investments and Le Masurier James and Chinn. BTMU Masato Miyachi has been promoted to [...]
Best of the Brokers for 7 October 2014 October 6, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com MODERN WATER Numis reiterated its “buy” rating with a target price of 62p. Modern Water announced its largest ever contract yesterday, as preferred bidder to design and build a wastewater treatment plant in Gibraltar. The broker said this was “clearly a very important [...]
Banks lead the pack as FTSE bounces back – London Report October 6, 2014 GAINS in major bank stocks led Britain’s benchmark equity index higher yesterday, and troubled supermarket group Tesco rose after new board appointments. The blue-chip FTSE 100 index, which fell to its lowest closing level in nearly a year last week, closed up by 0.6 per cent, or 35.74 points, at 6,563.65 points. Among the financials, [...]
Wall St slips as traders look to earnings’ data – New York Report October 6, 2014 US SHARES yesterday fell in choppy trading, with traders nervously eyeing the start of earnings season, while the S&P 500 failed to remain above a key technical level. The Dow Jones industrial average fell 17.78 points, or 0.1 per cent, to 16,991.91, the S&P 500 lost 3.08 points, or 0.16 per cent, to 1,964.82 and [...]
DHL apologises for using Jules Bianchi crash to get “likes” on Facebook October 6, 2014 DHL has apologised for a Facebook post which used the life threatening crash of F1 driver Jules Bianchi to ask for “likes”. Many fans of DHL on Facebook were outraged by the post which said “by clicking ‘Like’ on this occasion, you’ll be sending Jules your best wishes for a speedy recovery.” French [...]
Facebook fake “likes”: Social media giant vows to “aggressively get rid” of scam artists October 6, 2014 Facebook says it will "aggressively get rid of" companies and brands paying for fake "likes" on the social media site. Brands buy "likes" from fake pages from websites such as buy-facebooklikes.co.uk and socialmadness.co.uk in order to make their products seem more popular. Facebook has already won nearly $2bn (£1.25bn) in legal judgements against the spammers and [...]
BSkyB gains shareholder approval for Sky Deutschland and Sky Italia acquisition October 6, 2014 BSkyB shareholders have given an overwhelming nod of approval to its £5.3bn bid to buy Sky Deutschland and Sky Italia. A 96 per cent majority of investors voted in favour of the deal which will see Sky become Europe’s largest pay TV operator. The vote included approval of transferring BSkyB's stake in National Geographic to 21st [...]
Facebook’s long-awaited WhatsApp deal completes – costing Zuckerberg another $3bn October 6, 2014 Facebook's share price opened broadly flat today after its long-awaited deal to take over WhatsApp completed. But the deal has ended up costing Facebook nearly $3bn more than was originally intended, because of the amount of time taken to get approval. The deal – in which WhatsApp shareholders received 177.7m Facebook Class A shares and [...]
Manchester City could be about to land one of the biggest sponsorship deals in Premier League history – reports October 6, 2014 Manchester City could be set for one of the most lucrative sponsorship deals in Premier League history, according to reports. The Premier League champions are only three years into a decade-long sponsorship deal with Etihad Airways, worth around £400m, but are in talks over a five-year extension which would add a further £320m to [...]