Unite threatens Jag with strike over pay deal November 13, 2014 MEMBERS of Unite have rejected Jaguar Land Rover’s pay offer, with the union warning the company to begin renegotiations or face an industrial action ballot. In a consultative ballot, 96 per cent of Unite members across the carmaker’s five plants rejected the proposed pay deal. According to the union, “anger is also mounting over the [...]
Ithaca revenue and profit down but financial position is strong November 13, 2014 NORTH Sea focused oil and gas company Ithaca Energy reported revenue of $290m (£184m) for the nine months ended September 2014, down from $302m in the same period of last year. The firm made a profit of $12m during the first three quarters of 2014, less than a fifth of the $66m profit last year. [...]
Atkins restates confidence for future despite drop in revenue November 13, 2014 ENGINEERING firm Atkins yesterday reported a 9.2 per cent drop in revenue for the six months to September 2014, down to £831m from £915m in the same period of 2013. Profit before tax also took a hit, dropping 28.8 per cent from £54.8m to £39m. However, Uwe Krueger, chief executive at Atkins, pointed to the [...]
Gulf Keystone on track to hit output targets November 13, 2014 OIL AND gas company Gulf Keystone Petroleum stated yesterday that it was on track to achieve production of 40,000 barrels of oil per day (bopd) at its Shaikan operation in Kurdistan by the end of 2014. The site is currently averaging production of 23,000 bopd. The company also welcomed last week’s announcement that the Kurdistan [...]
Bad weather to blame for poor sales, says RWE November 13, 2014 THE GERMAN owner of Npower, RWE, yesterday reported a nine per cent drop in revenue, to €35.3bn (£30bn), in the first three quarters of 2014. The firm’s operating profit fell by 31 per cent to €2.9bn, a decline that RWE said was expected, and earnings before interest, taxation, depreciation and amortisation fell by 22 per [...]
Catlin’s premiums climb to near $5bn as London business grows November 13, 2014 INSURANCE group Catlin has reported gross written premium of $4.9bn (£3.1bn) for the first nine months of 2014, up 11 per cent on the $4.4bn reported in the same period of last year. Of the total premiums during the period, $2.2bn were by the firm’s London underwriting hub. The speciality insurer and reinsurer, which is [...]
G4S share price plummets after fake press release “reveals” £400m profit overstatement November 12, 2014 Outsourcing firm G4S was the subject of a hoax press release yesterday, which falsely claimed that the company had overstated its profit by almost £400m. The firm’s share price dropped by more than 3.5 per cent around the time that the email was sent out. However, it recovered to finish up by more than two [...]
Goldman Sachs’ share of new female partners steadies November 12, 2014 Investment bank Goldman Sachs yesterday revealed it had appointed 78 new partners, bringing the total number of partners to 467, or about 1.6 per cent of total current headcount. Women make up 11 of the 78, up slightly from the 10 women in 2012, but flat proportion-wise at 14 per cent of the intake. Meanwhile, [...]
Barratt is building on another strong year of housing growth November 12, 2014 BARRATT Developments said yesterday it was on track to deliver a strong year of growth and that market conditions would remain robust for the group across all UK regions. The housebuilder said its sales rate of 0.63 net private reservations per site per week in the 19 weeks to 9 November was down on the [...]
SSE reveals new chairman as it posts profit dip November 12, 2014 ENERGY firm SSE saw its shares fall by 2.78 per cent yesterday after reporting that profit before tax had dropped by 6.2 per cent in the six months to 30 September 2014, to £316.6m. The group stated that due to a combination of a “challenging business environment and persistently low production and consumption of energy”, [...]
