Tullow Oil’s earnings rise 500 per cent March 14, 2012 OIL explorer Tullow Oil’s profits surged last year thanks to the ramp up of a major new field in Ghana and the buoyant price of crude, allowing the company to announce a doubling of its dividend yesterday. Tullow said pre-tax profits rose 499 per cent to $1.07bn (£683m) in 2011, on sales revenues up 111 [...]
Wall St sees end of 5-day winning run March 14, 2012 THE S&P 500 broke a five-day streak of gains yesterday as investors found little reason to extend a rally that took the benchmark index to four-year highs. Momentum continued in Apple, as its shares climbed 3.8 per cent to $589.58 following positive analyst comment. Morgan Stanley and Canaccord Genuity both lifted their price targets to [...]
BEST OF THE BROKERS March 14, 2012 G4S Exane BNP Paribas downgraded G4S from “outperform” to “neutral” after the security group posted a drop in annual profits. Exane said the results, which included a £50m cost from last year’s failed merger with Danish catering firm ISS, were “uninspiring”. It held the target price at 305p but highlighted a “loss of management credibility” [...]
CITY MOVES | WHO’S SWITCHING JOBS March 14, 2012 May Gurney May Gurney, the support services business, has appointed Mark Hazlewood group finance director. He joined May Gurney in November 2010 as group corporate development director and led the successful acquisition of both Turiff and TransLinc. He has also held interim responsibility as finance director of the group’s regulated services division. Hazlewood previously worked [...]
It’s not just lawyers who prosper in law March 14, 2012 LAW is bigger business than ever. Freshfields employs 5,000 people and has twenty-seven offices in sixteen countries. Linklaters also has twenty-seven offices in twenty countries. Its revenues in 2010-11 were £1.2bn. Of course, this is good news for lawyers. But non-lawyers work for law firms too. Of Freshfields’ 5,000 staff members, 2,000 are business services [...]
JOBS of the WEEK March 14, 2012 Litigation solicitor Central London £70k-£90k An international law firm needs a litigation and dispute management solicitor to join its offices in London. The successful applicant will have extensive experience, acquired at a recognised City practice. www.cityamcareers.com/job/6991 Compliance director Central London £80k-£100k, plus bonus A leading global services company needs an experienced compliance professional to provide [...]
Miners put end to FTSE’s positive run March 14, 2012 BRITAIN’S top share index retreated yesterday, having flirted with the 6,000 level due to a more promising global economic outlook and robust earnings, with heavily weighted miners hit by concerns over Chinese demand. After five successive days of gains, the longest winning streak since last summer, the FTSE 100 ended down 10.48 points, or 0.2 [...]
It is in Britain’s interest to encourage America to deal with its soaring debt levels March 14, 2012 DAVID Cameron and Barack Obama have reaffirmed the special relationship between Britain and America this week. But let us be clear that one of the issues on which our countries must be united is the strategic importance of US debt – and the need across the Western world to live within our means. What happens [...]
Outsourced jobs will return if we improve training March 14, 2012 YOUTH unemployment is at crisis levels, yet we continue to outsource hundreds of thousands of jobs. These jobs could return to the UK and be carried out by a workforce already competent in technology. But, to do this successfully, we must change how we prepare young people for work. The UK IT outsourcing market is [...]
Romney still favourite to win the nomination March 14, 2012 When David Cameron returns home from his state visit and wants another dose of March Madness, he need only glance across the pond at the Republican primary. The contest is drawing to a close, but in a manner that’s painfully slow for the frontrunner, Mitt Romney. Rick Santorum yet again proved the naysayers wrong with [...]
