Aggreko profits hit by commodities rout March 5, 2015 GENERATOR rental company Aggreko saw profits slump as the ongoing commodities rout saw its high exposure to the Australian mining sector hit demand. Revenues at the company’s Asia, Pacific and Australia (Apac) division fell by 19 per cent as a slowdown in the mining sector meant fewer mines opened. The decline in Apac revenues translated [...]
Inmarsat up in spite of state revenues blow March 5, 2015 INMARSAT, the global satellite communications group, yesterday said it had steady revenues and profit growth in 2014 yesterday, despite ongoing weakness in its government division. “Continuing underlying L-band growth in maritime, enterprise and aviation during the year was offset by continued weakness in our government business in the US, although this decline slowed towards the [...]
Mandarin Oriental rights issue raises $316m March 5, 2015 THE OWNER of the Mandarin Oriental Hotel in Knightsbridge raised $316m (£207m) via a right issue yesterday to help reduce debt and pay for the £85m revamp of the five-star hotel. The fundraising came as the Mandarin Oriental International posted a record underlying profit of $97m in 2014, up four per cent on the previous [...]
Aviva ensures FTSE stays near its record high – London Report March 5, 2015 ARALLY by insurance giant Aviva and same sector shares pushed the FTSE100 closer to record highs again yesterday. The blue-chip FTSE 100 index closed up 0.6 per cent at 6,961.14 points, near the 6,974.26 record it set this month. Traders said that European equities were further supported by confirmation that the European Central Bank (ECB) [...]
US stocks stall ahead of jobs report today – New York Report March 5, 2015 US stocks closed modestly higher in light trading yesterday as investors held back on big bets ahead of today’s jobs report, which is expected to be a big factor in influencing the timing of a Federal Reserve interest rate hike. Focus on the report was heightened as many investors see it as one of the [...]
George Osborne regrets mistakes over RBS and looks to sell up quick March 5, 2015 George Osborne has conceded he made an error not reforming the state-owned bank RBS when the coalition took power in 2010. Speaking to the Financial Times Weekend Magazine the chancellor said he hopes to move forward "as quickly as we can to get rid of it". He added that he regretted acquiescing to the view [...]
Euro falls below $1.10 for first time 12 years after ECB reveals date of bond buying programme March 5, 2015 After hovering close to the $1.10 for past 48 hours the euro fell below it for the first time since September 2003. The euro has lost 15 per cent of its value against the dollar over the past six months. However, it's not just a weaker euro contributing to the shift – the dollar has [...]
UPDATE: Quindell share price recovers after it sells stake in Nationwide Accident Repair Services and announces share issue March 5, 2015 Shares in insurance outsourcing firm Quindell started the day six per cent lower at 88p, but then bounced back to 91p by mid afternoon after it said it had sold its minority stake in Nationwide Accident Repair Services. It said it sold its stake in the British building society’s vehicle repair service on 4 March for 65 pence [...]
ECB will launch €1 trillion bond buying programme on 9 March March 5, 2015 The European Central Bank (ECB) said it will launch its €1 trillion quantitative easing programme on 9 March, in a bid to ward off a deflation death spiral and kick start economic growth throughout the ailing region. "We will on 9 March 2015 start purchasing euro-dominated public sector securities in the secondary market," ECB governor [...]
Bank of England interest rate decision: MPC holds at record low for sixth year March 5, 2015 The Bank's monetary policy committee (MPC) voted not to touch interest rates for what's now the 72nd month. This means interest rates have been held at a record low 0.5 per cent for six years. If you're struggling to think back this far, this time in 2009, Sacha Baron Cohen's "Bruno" was gracing cinema screens. [...]