London Metal Exchange keeps open-outcry trading ring June 23, 2014 The London Metal Exchange has decided to keep its open-outcry trading ring, making it the last in Europe and one of the few remaining exchanges in the world to continue using the system of hand signals and spoken trades, along with its electronic trading system. A review was launched following its takeover by Hong Kong [...]
Music streaming rises to top of the charts June 23, 2014 Music played on Spotify, Deezer and Blinkbox will soon count towards the UK singles chart, the Official Charts Company said. Starting on 6 July, the top 40 chart will incorporate streaming data from seven services, with 100 streams of a song being equivalent to one single bought. Katy Perry’s track “Dark Horse” was in the [...]
Queen opens Heathrow’s new Terminal 2 June 23, 2014 The Queen and Prince Philip yesterday officially opened Heathrow’s Terminal 2, almost six decades after the monarch cut the ribbon on the airport’s original second terminal. The new £2.5bn building opened for passengers three weeks ago, with airlines gradually shifting their flights to T2 to avoid the disruption that plagued Terminal 5 when it launched [...]
Honda recalling 2m cars over shrapnel danger from exploding airbags June 23, 2014 Honda is recalling 2.03m cars worldwide due to faulty explosive air bags. The recall, combined with 755,000 Nissan cars, and 159,807 Mazda cars that have the same problem, is one of the biggest car recalls in history. The air bags, supplied by Takata, have the potential to explode in a way that shoots out shrapnel [...]
BAE Systems wins £70m contract June 23, 2014 BAE Systems has been awarded a £70m contract for the maintenance of Royal Navy Ships at Portsmouth Naval Base. The Ministry of Defence contract will protect 100 engineering roles at the base and will run from next month until November 2016. It involves managing the support, maintenance and upgrade of Type 45 Destroyers at the [...]
Wisconsin in $5.7bn buy-up June 23, 2014 US energy giant Wisconsin Energy Corporation agreed yesterday to buy the Integrys Energy Group for about $5.7bn (£3.4bn) in stock and cash. Under the terms of the deal, Wisconsin Energy will pay 1.128 of its shares and $18.58 in cash for each Integrys share. Combining the two companies will create a new firm, to be [...]
LDC exits GVA with Bilfinger sale June 23, 2014 Lloyds Development Capital (LDC) is selling its stake in GVA, the UK’s largest commercial real estate consultant, to German engineering and services giant Bilfinger for an undisclosed sum. LDC invested £40m for a 27.5 per cent stake in GVA, but is now exiting the business. Bilfinger said yesterday that 99 per cent of GVA shareholders [...]
Best of the Brokers for 24 June 2014 June 23, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DEVRO N+1 Singer keeps the sausage skin maker as a “sell” and drops its target from 246p to 211p ahead of results next month. Since the broker moved Devro to its sell list in October, the stock has lagged the FTSE All Share [...]
London Report: Housebuilders drag on FTSE 100 after near-record highs June 23, 2014 BRITAIN’S top equity index fell yesterday for the first time in a week as declines in housebuilding shares weighed on the market, which had been approaching record highs. The blue-chip FTSE 100 index, which had risen for the last four sessions, ended down by 0.4 per cent, or 24.64 points, at 6,800.56 points – some [...]
New York Report: Energy stocks brightest in US June 23, 2014 US stocks ended a quiet session yesterday essentially unchanged as investors found few reasons to keep buying following a six-day rally in the S&P 500, though merger activity lifted energy shares. The S&P was coming off its longest streak of advances since mid-April, and it closed at a record high on Friday, along with the [...]
