How to give December 18, 2012 online at: www.cityam.com/appeal by text CITY13 and amount (£5 or £10 only) to 70070 Text donations may not work from company mobile phones as these often block premium messages. credit or debit card by phone to Opportunity International (01865 725 304) If donations exceed our programme needs in Africa, they will be deployed elsewhere. DONATIONS [...]
Who’s switching jobs December 18, 2012 Adveq The asset management firm has promoted Sanjay Gupta to executive director. He joined in 2008 as a senior associate in its investment management team, and he is currently head of the Adveq Opportunity programme and leads its US buyout and turnaround investment activity. State Street Global Advisors The asset management division of State Street [...]
Best of the Brokers December 18, 2012 CAIRN ENERGY UBS yesterday changed its rating from “neutral” to “buy”, and raised the price target by 25p to 325p for the energy company, saying it is a slow burner with high potential and low risk. VODAFONE Morgan Stanley said the telecoms firm has made “very effective asset disposals” and mentioned the possibility of a [...]
US fiscal cliff hopes lift FTSE 100 December 18, 2012 The markets were cheered this morning – the headline share index rose 0.25 per cent in early deals – on signs of progress in negotiations to avoid the imminent fiscal cliff in the US. Investors reacted positively to Obama’s counter-offer for Republicans yesterday, which included a major change in position on tax hikes for the [...]
Comet collapse to be probed by government December 18, 2012 Comet will close down its remaining stores today, as the government confirmed it has launched an investigation into the administration of the electrical chain. The last 49 stores out of a 235-strong chain will be closed today, bringing to an end the store’s 19-year history. Almost 7000 people will lose their jobs, at a cost [...]
Interserve snaps up healthcare services company for £26.5m December 18, 2012 Support services and construction group Interserve has acquired a leading healthcare services firm in a cash deal worth £26.5m. In a statement this morning, the FTSE 250 firm said the acquisition of Rutland Partners-backed Advantage Healthcare would widen its access to the £10bn community healthcare market. Advantage Healthcare, which has gross assets of around £5m, [...]
Petrofac on track to deliver 2012 profit target December 18, 2012 British oil services company Petrofac is on track to deliver net profit growth of 15 per cent this year, it said this morning. The FTSE 100 firm, which designs and builds oil and gas infrastructure, said that operations continued to perform in line with expectations, with particular good performance in the engineering, construction, operations & [...]
Rank could sell off six casinos to win clearance for Gala merger December 18, 2012 Gaming group Rank may have to sell off six casinos in the UK for its bid for rival operator Gala to be green-lit, the Competition Commission said this morning. In May, Rank Group agreed to buy a string of casinos from Gala Coral in a £205m cash deal that would add 23 UK casinos to [...]
A tale of two cities December 17, 2012 BRITISH Land and Oxford Properties have bagged their second tenant at the Cheesegrater skyscraper in the City, underlining the booming demand in London’s insurance district in stark contrast to parts of the City that have traditionally depended on the banking sector. Amlin is to take 111,000 square feet at the Leadenhall Building for an undisclosed [...]
Queen joins the Cabinet… for one day December 17, 2012 THE COALITION Cabinet will be on its best behaviour today as it keeps a royal appointment. The Prime Minister has invited the Queen to sit in on this morning’s Cabinet meeting as an observer, becoming the first reigning monarch to do so since Queen Victoria. Ministers will present Her Majesty with a gift to mark [...]