Rate of US services expansion plummets to a four-year low March 5, 2014 AMERICA’S economic prospects were dealt a blow yesterday as three separate sets of data pointed to a stuttering recovery. A widely-regarded measure of the US service sector plummeted to reveal the slowest rate of growth for four years. The Institute for Supply Management said its services index fell to 51.6 last month, the worst score [...]
Rolls-Royce to overhaul ethics in face of probe March 5, 2014 AEROSPACE and defence giant Rolls-Royce yesterday outlined a new strengthened ethics policy, as it awaits the outcome of a fraud investigation into allegations of bribery and corruption. In its annual report, the FTSE 100-quoted firm said it had re-launched an ethics hotline available 24 hours a day, where individuals can raise any concerns. It also [...]
Rise in temporary hiring helps buoy earnings at Michael Page March 5, 2014 MICHAEL Page has become the latest recruitment firm to cheer a return to hiring in white collar jobs. The firm’s revenues rose 1.6 per cent last year to break the £1bn barrier and pre-tax profits rose 3.5 per cent to £67.1m, Page announced yesterday. Revenue from permanent placements fell 4.5 per cent to £403m, but [...]
Admiral results solid not flashy says top boss March 5, 2014 CAR insurer Admiral has announced good results for 2013 with overall profits up 7 per cent despite an 8 per cent fall in group turnover. Profit before tax in 2013 was £370m compared to £345m the year before, while earnings per share were up at 104.6 pence, a 10 per cent increase. Group chief executive [...]
Cuadrilla ramps up its Bowland shale estimates March 5, 2014 CUADRILLA’S shale gas resource in the north west of England may be twice as large as previously thought, according to a geologist at the energy company. Speaking at the Shale UK conference in London, Huw Clarke said that more detailed analysis suggests that the actual reserves may be much higher than original estimates of 200 [...]
Green scheme take-up slated March 5, 2014 CARILLION’S chief executive Richard Howson yesterday said the government had not given enough support to early adopters of energy efficiency scheme the Green Deal. “Take-up has been very slow and I don’t expect that market to pick up in 2014,” he told City A.M. The FTSE 250 support services firm’s revenues fell seven per cent in [...]
Melrose warns on slow sales March 5, 2014 MELROSE Industries’ share price plunged over eight per cent yesterday, after the engineering buyout firm warned that sales growth in 2014 would not be easy to achieve, due to challenging market conditions. But pre-tax profit rose 48 per cent in 2013 to £226.1m. “Our strategy of ‘buy, improve, sell’ is by now well understood,” said [...]
Clegg and Farage to battle it out over Europe March 5, 2014 LIBERAL Democrat leader Nick Clegg and Ukip frontman Nigel Farage are to battle it out in a live TV debate about membership of the European Union. Keen politicos will want to block out the diary for 2 April at 7pm when the two leaders will grace TV screens on BBC2 for an hour long debate. [...]
Banks speed up compensation for small firms March 5, 2014 BRITAIN’S biggest banks have accelerated their compensation payments to small firms who were mis-sold interest rate products, the City watchdog said yesterday. It comes as the Financial Conduct Authority’s (FCA) May deadline for repaying the businesses looms. All of the small businesses who are thought to have been affected and have been deemed to be unsophisticated [...]
UK’s new payments watchdog to launch by start of April 2015 March 5, 2014 A BODY to regulate the UK’s huge payments industry will be fully operational by the beginning of April 2015, according to the Financial Conduct Authority (FCA). The FCA says that the sector processes seven billion transactions each year, collectively worth over £75 trillion. The regulator also says that the new body will be focusing on competition, [...]