Savile sees profits surge September 22, 2009 HUMAN resources consultancy Savile Group said yesterday that it had seen a 157 per cent growth in full-year pre-tax profit, and that it would pay a dividend for the first time in five years. The company reported a profit of £1.85m, on revenues of £10.38m, for the year to 30 June. It said that its [...]
Rio helped by sale of Alcan September 22, 2009 MINING giant Rio Tinto said yesterday it had disposed of $7bn (£4.3bn) of assets over the past 18 months, as it strives to pay off its debt mountain. The news came a day after it sold its Alcan Composites arm, which makes specialist materials, to Swiss group Schweiter Technologies for $349m. Rio bought the Canadian [...]
Magna could cut 1,400 jobs at Vauxhall September 22, 2009 MAGNA is thought to have drawn up plans which could see it slash as many as 1,400 jobs at Vauxhall, wiping out around a third of the British car maker’s 4,450 workers. The jobs will be cut at both of Vauxhall’s plants in Luton and Ellesmere Port, while workers in Germany will be comparatively safe. [...]
DIGITAL BRITAIN September 22, 2009 LONDON Mayor Boris Johnson yesterday headed to the outskirts of town to cut the red ribbon at Japanese electronics giant Canon’s new European headquarters in Stockley Park, near Heathrow. Canon plans to move key departments to London from the Netherlands, creating over 200 new jobs in the first year. Johnson said the move demonstrates London’s [...]
CITY VIEWS: Is ba’s pledge to cut the aviation industry’s carbon emissions enough? or should we just fly less? September 22, 2009 IAN SEAKENS LLOYD’S OF LONDON“The aviation industry is doing the very least it can possibly get away with to combat carbon emissions. It’s a tough time for airlines, margins are squeezed, and this is the last thing companies want to be spending out on.” DON OKOLIE ZURICH FINANCIAL SERVICES“Willie Walsh’s pledge to cut emissions by [...]
Profits jump at JD Sports on sales rise September 22, 2009 JD Sports yesterday shrugged off the gloom, reporting an 11 per cent rise in profits, despite the consumer downturn battering the high street. The group said profits rose to £10.1m in the six months to 1 August, boosted by a jump in sales. JD Sports said that group total sales were up by 8.4 per [...]
HOW WELL IS JD SPORTS PERFORMING IN WHAT CONTINUES TO BE A CHALLENGING ENVIRONMENT FOR RETAILERS? September 22, 2009 KEITH BOWMAN HARGREAVES LANSDOWN The figures are at the higher end of expectations and the dividend hike is encouraging, though recent sales are a little disappointing. But JD Sports seems to have avoided the worst of the retail shakeout due to its young customer base, so it will be given the benefit of the doubt [...]
THE LONDON REPORT September 22, 2009 BRITAIN’S top share index edged higher yesterday as miners and oil stocks buoyed by firmer commodity prices lent support, though with investors nervous before the group of 20 leaders’ meeting at the end of the week. The FTSE 100 closed 8.24 points, or 0.2 per cent, higher at 5,142.60, after ending Monday’s session 0.7 per [...]
NEW YORK REPORT September 22, 2009 US stocks rose yesterday, as investors bet the US Federal Reserve will stick to its accommodative policy to foster economic recovery, boosting growth-sensitive sectors such as financials, technology and industrials. The gains were broad-based, with all but three of the 10 S&P 500 industry sectors ending higher. Energy and other natural resources stocks were underpinned [...]
HORSES FOR COURSES FOR CITY RACING SET September 22, 2009 IT SEEMS barely a moment since the end of the horseracing season, but the City is already gearing up for the bevy of racehorse auction sales coming up over the next few weeks, starting with the Goffs Orby Sale in Ireland next week. Racing buffs might recall that sellers at the spring sales teamed up [...]
