G4S outlines plans to strengthen balance sheet after disappointing first half losses August 28, 2013 Outsourcing company G4S has announced plans to sell businesses and issue new shares to strengthen its balance sheet. The company, whose reputation has suffered from failures at last year’s Olympic and Paralympic games and more recently from the alleged overcharging of the taxpayer for the provision of electronic tagging services, plans to place 140.9m new [...]
Competition watchdog warns of lack of competition in UK private healthcare market August 28, 2013 The UK Competition Commission has warned of a lack of competition among local private healthcare providers, leading to higher insurance premiums and patient charges (full report). The Commission said it had identified 101 hospitals facing little local competition, some in clusters under the common ownership of major hospital groups like BMI, Spire and HCA. Competitors [...]
Meggitt to acquire Piezotech for £26.5m August 28, 2013 FTSE 100-listed aerospace, defence and energy firm Meggitt has signed an agreement to acquire Piezotech for $41.2m (£26.5m) (release). Piezo specialises in the production and development of piezoelectric and electroactive fluorinated-based polymers, which will help Meggitt improve its gas turbine sensors and its position in emerging energy and medical markets – in particular, downhole drilling [...]
Competition Commission orders Ryanair to sell off Aer Lingus stake August 28, 2013 The Competition Commission has confirmed that budget airline Ryanair will need to reduce its 29.8 per cent stake in Aer Lingus to just five per cent. In its final report published today, the CC confirmed its provisional findings that Ryanair’s minority shareholding had led or may be expected to lead to a substantial lessening of [...]
Before the open – 28/08 August 28, 2013 Asian shares hit a seven-week low last night as concerns over a military strike against Syrian president Bashar al-Assad’s government escalated. US markets closed down on similar concerns, with the S&P suffering its worst daily decline since 20 June. This came in spite of better-than-expected confidence indicators in the US and Germany. The Washington Post [...]
SocGen: Brent crude could “spike briefly” to $150 on Syria concerns August 28, 2013 The price of brent crude oil could jump as high as $150 (£96) per barrel if the escalating conflict in Syria results in disruptions to supply, a report from Societe Generale has said. The price of brent crude rose as much as 2.5 per cent to $117.23 per barrel on the ICE Futures Europe exchange [...]
Cameron: We are ready to act on Syria August 27, 2013 DAVID Cameron yesterday branded the Syrian government’s apparent use of chemical weapons “morally indefensible” and recalled parliament as Britain prepares for military strikes against the Middle Eastern country. The Prime Minister will today hold a meeting of the national security council to plan for a co-ordinated attack with France and the US. News [...]
Walkie Talkie building scorches Londoners August 27, 2013 LONDONERS who pass by the Walkie Talkie skyscraper are in for a surprise – because the recently completed building at 20 Fenchurch Street is reflecting a beam of ultra bright light onto the street below. The hotspot on Eastcheap near Monument station is forcing pedestrians to shield their eyes, with one passer-by describing it as [...]
UK tops list of best places in Europe to be an entrepreneur August 27, 2013 CUTTING corporate taxes is helping make the UK a more attractive place to set up a business, according to a major study of entrepreneurship across the globe, published yesterday. A total tax rate of 35.5 per cent is well below the 49.7 per cent average across the G20, and helps make the UK the best [...]
Public betting market to challenge Carney’s rule August 27, 2013 AS BANK of England governor Mark Carney gears up to give his first public speech today, a public betting market is being launched to challenge official predictions for unemployment and inflation. Working with bookmakers Paddy Power, the Adam Smith Institute (ASI) think tank is rolling out two betting markets, turning to UK punters for predictions [...]