Wood Group posts huge slide in revenue but sees “early indications of modest recovery” August 16, 2016 Weak oil prices have hit Wood Group's first half earnings – but that hasn't stopped its chief exec from making positive noises. The figures Wood Group posted a 63.2 per cent drop in profits to $44.6m (£34.5m) in the first half of the year. The company reported revenue that dropped by 16.6 per cent to $2.6bn [...]
California choo-choo-chooses Balfour Beatty to electrify a major rail link August 16, 2016 Balfour Beatty has been awarded a $697m (£540m) contract to electrify the 52-mile Caltrain rail link between San Francisco and San Jose – the largest US contract it's ever won. Shares in Balfour were up 0.5 per cent, at 242.3p, after the construction giant said it will begin work on the line, which operates across 17 cities [...]
Antofagasta’s revenue and profit fall on copper despite cutting costs August 16, 2016 Antofagasta is doing the best it can with falling copper prices by cutting costs, but profit and revenue have taken a hit nonetheless. The figures Antofagasta reported revenue 18.5 per cent lower at $1.45bn (£1.12bn) for the first half. The company, however, reported that earnings before interest, taxation, depreciation and amortisation (Ebitda) had risen by 2.3 [...]
Four of the best: Investment opportunities from around the globe August 16, 2016 Markets have been turbulent this year and much talk has focused on potential risks. A smattering of uncertainties to consider include the ramifications of the Brexit vote and whether the UK will enter recession. Nor does anyone know how extraordinary monetary policy in Europe will pan out, or the ultimate impact there’ll be from the trillions [...]
City Moves for 16 August 2016 | Who’s switching jobs August 16, 2016 Business Growth Fund Business Growth Fund has expanded its team with the appointment of Paul Stevens, who joins from Octopus Investments. Based in the London office, Paul will focus on identifying investment opportunities in AIM listed companies as part of the BGF Quoted offering, which is led by Gavin Petken and Tom Jenkins and supported [...]
Trump and Corbyn are pushing extreme views August 16, 2016 Surveys constantly reveal that a worrying number of Americans believe some absurd untruths, and crackpot conspiracy theories, about their outgoing President, Barack Obama. A poll last year, for example, found that 29 per cent think Obama is a muslim. A respected survey a few years prior put the number at 18 per cent. Republican candidate Donald [...]
If security breaches are inevitable, what are businesses to do? August 16, 2016 "It's not if, but when your company will be breached.” This is an oft-repeated line in the cyber security industry, and it puts business executives in a catch 22 position. They care about security and know how important it is, but the message they are hearing is: “the hackers will always win”. Bosses are left [...]
London has the worst debt crisis in the UK August 16, 2016 Londoners have the most severe debt problems of anybody in the country, according to a leading debt advice charity. StepChange said those living in the capital were more likely to be behind on their monthly payments and typically had higher levels of borrowing than those across the rest of the UK. The findings comes in a [...]
Sharp downturn would spell trouble for nearly one million renters in London August 16, 2016 There's no housing safety net to catch almost one million renters in London should the economy turn sour, a report out today warns. Analysis by Royal London of government’s family resources survey data for 2013-14 – the most recent full set of figures the researchers had available to them – showed 5.5m working adults across [...]
Belgian pharma firm boosted by US judge ruling August 16, 2016 Shares in Brussels-based drugmaker UCB surged yesterday following a US ruling that blocks rival firms from making generic versions of its epilepsy drug Vimpat. Shares closed up by almost nine per cent in Brussels – its best performance since 2009 – and also giving a shot in the arm to other pharmaceutical stocks around Europe. [...]