Go-Ahead reports rising revenue December 11, 2014 BUS AND rail operator The Go-Ahead Group yesterday announced that its full-year expectations for both operations remain unchanged. It said trading for the year-to-date had been robust, with revenue up across all business units. In a trading update, the company said it expected revenue to be up about four per cent in its regional bus [...]
Comparethemarket in talks to launch 2-for-1 cinema offer as EE’s Orange Wednesday deal expires December 11, 2014 Price comparison website Comparethemarket.com is in talks with the cinema industry to launch a 2-for-1 ticket promotion for its customers next year, following the news yesterday that EE will end its decade-long Orange Wednesdays offer. EE said it would stop Orange Wednesdays at the end of February after it failed to agree new commercial terms [...]
Computacenter chief picked for Daisy’s top job December 11, 2014 BUSINESS communication and IT services giant Daisy Group yesterday announced the appointment of Neil Muller as chief executive of the company, following the news of founder and former chief executive Matthew Riley’s promotion to executive chairman. Currently, Muller works as the UK managing director for Computacenter, where he has been for more than two decades. Muller [...]
Three buyers on grid for Caterham after Formula One team went into administration and made 230 staff redundant December 11, 2014 Struggling Formula One team Caterham is in negotiations with three possible buyers as it seeks a takeover that will allow it to race next season, it emerged yesterday. Joint-administrator Henry Shinners – of London firm Smith & Williamson – told City A.M.: “There are three interested parties at present. There are more who want to [...]
South Africa’s investment corp rings in changes December 11, 2014 South Africa’s Public Investment Corporation yesterday promoted chief investment officer Daniel Matjila to chief executive officer. Matjila’s appointment follows the surprise resignation in May of Elias Masilela, from the state-owned pension fund manager’s top job. Masilela, who had been in the role since 2011, never explained his decision to quit. The PIC, Africa’s biggest and [...]
Cargill back in battle for Dutch nutrition company Nutreco December 11, 2014 SHARES in nutrition company Nutreco jumped 3.9 per cent yesterday after Cargill, the American commodities behemoth, announced it still wanted to buy the company, but without breaking it up. Investors in Nutreco reacted favourably to the news of a possible bidding war with rival suitor SHV Holdings, a family-owned Dutch trading company. Nutreco said last [...]
Polar Capital under target despite small profit increase in first half December 11, 2014 BRITISH investment firm Polar Capital yesterday reported a small rise in first-half profits, despite being hamstrung by a poor performing Japan. In its first-half interims, Polar recorded pre-tax profits of £11.6m – up 15 per cent year-on-year. The company also saw its assets under management increase one per cent to £13.4bn, and its earnings per [...]
Sidley Austin names 32 new partners across global network December 11, 2014 GLOBAL law firm Sidley Austin has elected 32 lawyers to its partnership, with the new partners to be spread across the law firm’s global network, it announced yesterday. Effective from 1 January, the new partner class is made up of lawyers from across the spectrum of the company practice areas. The class will be spread [...]
City Moves for 12 December 2014 | Who’s switching jobs December 11, 2014 Castle Harbour The financial services firm has appointed Eric Daniel to co-manage a new convertible bond fund. Daniel was formerly head of equity derivatives and convertible bond sales at Citigroup in Paris. He will run the Castle Harbour R&D Pure Global Convertibles Fund. Canaccord Genuity Nishad Vallonthaiel has been appointed head of electronic and programme [...]
Best of the Brokers for 12 December 2014 December 11, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com CENTAUR MEDIA Westhouse Securities has moderated its rating from “buy” to “add”, to reflect that the upside to its 71p target price has been reduced by recent share price strength. The broker said this performance was well deserved due to the positive initiatives [...]