IMI revenue falls on stronger pound May 8, 2014 Engineering firm IMI yesterday reported a four per cent decline in revenue for the first four months of the year, hit by adverse foreign exchange movements due to the stronger pound. But the FTSE 100-listed company said it is on track to deliver “modest organic revenue growth” in the first half of the year and [...]
Cineworld expects World Cup drag May 8, 2014 Cineworld Group, the UK’s largest cinema operator, said it expects the football World Cup this summer to have a “negative impact” on admissions to its cinemas. Cineworld reported a 34 per cent jump in revenue for the 18 weeks to 1 May, as more people visited its cinemas and paid more for their tickets. Shares [...]
Perform revenues up by a third May 8, 2014 Digital sports media group Perform yesterday posted a 32 per cent increase in revenues to £56.9m, helped by new Watch And Bet contracts, which offer bookmakers live streaming of sports events. The firm also said Ashley Milton, who currently works for WPP, will be its new chief financial officer.
City Moves for 09 May 2014 | Who’s switching jobs May 8, 2014 MarshThe insurance and risk management firm has announced the appointment of Rawden Leigh as a vice president in its financial and professional practice. He was most recently at Lockton, where he was a vice president. Prior to that, Leigh held roles at Oval Group. Baring Asset ManagementThe asset management business has appointed Jean-Louis Scandella as [...]
Best of the Brokers for 09 May 2014 May 8, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com HAYS Panmure Gordon sticks with its “hold” rating but hikes its target price from 151p to 155p to reflect a stronger recovery in the recruitment firm’s British business. However, weakness in Asia is likely to weigh on Hays’ stock for now, the broker adds. [...]
London Report: Morrisons forecast and plans for cuts at Barclays lift FTSE May 8, 2014 BRITAIN’S top shares neared nine-week highs yesterday led by Barclays after it announced a revival plan, while investors also welcomed the possibility of more stimulus steps from the European Central Bank in June. Barclays was the standout gainer on the FTSE 100, up 7.9 per cent after it announced 19,000 job cuts in the next [...]
New York Report: Energy losses drag on stocks May 8, 2014 STOCKS mostly fell yesterday with the S&P 500 and the Nasdaq closing lower, led by losses in the energy and utility sectors. The Nasdaq ended lower for a third straight session, its longest losing streak since early April. A turnaround in beaten-down internet stocks had boosted the Nasdaq earlier, while a drop in initial jobless [...]
Letters to the Editor – 09/05 – Chinese innovation, Best of Twitter May 8, 2014 Chinese innovation [Re: As Alibaba unveils its IPO plans, can China leapfrog the West in innovation? yesterday] China has a huge pool of natural resources and a vast supply of cheap labour. But the key to unlocking innovation lies in having leading higher education institutions and research. A quality deficit can in part be compensated [...]
Furnished with royal secrets May 8, 2014 Two-bedroom flat worth £4.65m reveals hidden tragedy of Earl THE GRAND Georgian terraces of Belgravia are among the most exclusive addresses in London. Its statesmanlike squares and white stucco-fronted mansions have been home to an impressive roll call of the great and the good. From Mozart to Ian Fleming, from Lady Thatcher to Cara Delevigne, [...]
Tech to simplify moving home May 8, 2014 Melissa York meets the Tech City whizzes behind Plentific.com FINDING somewhere to live can seem like a never-ending headache, especially if you’re doing it for the first time. But Plentific, the latest in a series of tech start-ups looking to grab a slice of the property market, wants to use technology to take the stress [...]
