New York judge won’t declare Argentina in contempt over debt August 21, 2014 US DISTRICT Judge Thomas Griesa yesterday declined to find Argentina in contempt of court for its proposal to bring defaulted sovereign debt under local law. Griesa said a proposal by Argen – tine President Cristina Fernandez on Tuesday was illegal, but that a contempt order now would not help bring about a settle ment in [...]
MBNA takes the helm on Thames Clippers August 21, 2014 UK credit card provider MBNA – owned by Bank of America – has acquired the naming rights to London river fleet provider Thames Clippers as it finalises plans to “digitise the Thames” in a three-year initial partnership. The announcement comes as Thames Clippers celebrates its 15th anniversary. It started with one boat in 1999, when [...]
Interserve signs up to Shanks Derby deal August 21, 2014 CONSTRUCTION firm Interserve yesterday announced that its joint venture with waste management company Shanks Group had won a contract to build and operate a new waste treatment facility in Derby. The companies yesterday signed a 27-year, £950m Public Private Partnership contract with Derby City and Derbyshire County Councils. The project involves Interserve building a £145m [...]
Salesforce announces huge revenue increase August 21, 2014 CLOUD computing software giant Salesforce.com yesterday reported better-than-expected quarterly revenue, helped by an increase in demand for its web-based sales and marketing software. The San Francisco-based company raised its full-year profit and revenue forecast. Spending on enterprise resource management (ERM) and customer relationship management (CRM) has been particularly strong. Research firm IDC expects ERM and [...]
Best of the Brokers for 22 August 2014 August 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BOVIS HOMES UBS has kept its “buy” rating, raising the target price to 1,000p from 965p. The broker notes Bovis is gearing up for material volume growth, aiming to reach 5,000 to 6,000 units over the five years or so, almost double the [...]
London Report: Reports of new Pfizer Astra bid pushes up FTSE August 21, 2014 BRITAIN’S top equity index yesterday rose on gains in healthcare stocks, led by Astrazeneca on speculation that previously rejected US suitor Pfizer might make another bid. The blue-chip FTSE 100 index closed up 22.18 points, or 0.3 per cent, at 6,777.66 points. Astrazeneca rose three per cent to 4,411.50p, while domestic rival Glaxosmithkline advanced 1.2 [...]
New York Report: Dow passes 17k as S&P breaks new record August 21, 2014 US STOCKS ended higher yesterday, with the S&P 500 at a record after a flurry of positive economic data, as investors hoped for signs from an annual meeting of central bankers that interest-rate hikes are not imminent. The Dow Jones industrial average rose 60.36 points, or 0.36 per cent, to rise above 17,000 points again. [...]
Niven can prove he’s one Clever Cookie by landing the Ebor August 21, 2014 THE final day of York’s Ebor meeting features the richest handicap in Europe and the festival’s punting highlight, the Betfred Ebor (3:50pm). Such a prize always draws a high-class field, to the extent that the race has even come to be considered a trial for the Melbourne Cup. A trainer vying to win this lucrative [...]
Profile: Balfour Beatty’s chairman Steve Marshall August 20, 2014 Balfour Beatty’s chairman Steve Marshall has had a lot of practice in fighting tough battles and working to turnaround businesses. But, following his trenchant rejection of Carillion’s bid proposals, he knows he has a lot to prove to many of his group’s shareholders who would have quite liked to have at least had the chance [...]
Warren Buffett’s Berkshire Hathaway firm agrees to pay $896,000 fine August 20, 2014 Berkshire Hathaway yesterday agreed to pay an $896,000 (£540,000) fine to settle a US government allegations that it violated anti-trust rules by failing to report a transaction that boosted its stake in building products company USG Corp. The civil penalty, which requires court approval, settles charges made by the US Department of Justice and Federal [...]
