Drab US factory and housing numbers hit recovery hopes April 23, 2014 LACKLUSTRE economic figures weighed on investor sentiment across the pond yesterday, with manufacturing and housing data coming out worse than expected. The US factory sector kept growing this month, according to Markit’s initial flash estimate. Yet the purchasing managers’ index (PMI) score of 55.4, down from 55.5 in March, disappointed economists who had expected a [...]
Evercore sees deal increase April 23, 2014 INVESTMENT banking advisory firm Evercore has blamed delays in finalising a number of big deals for a swing in its quarterly results, with revenues down two per cent on last year and net income up 44 per cent. Chief executive Ralph Schlosstein said the advisory business “grew only modestly” in the quarter, though the company [...]
US Corporate results roundup April 23, 2014 Delta Air Lines climbs on growth in ticket sales and its marginsDelta Air Lines yesterday reported a higher-than-expected first quarter profit of $213m and gave a strong outlook for the current period, sending its shares up five per cent. Delta said it expected an operating margin of 14 to 16 per cent for the second [...]
Buyers on the hunt for riskier big mortgages April 23, 2014 MORE than a quarter of prospective home buyers are now chasing riskier large mortgages, according to research released today, suggesting that announcements about the controversial Help to Buy scheme have driven the interest. According to Mortgage Advice Bureau (MAB), 27 per cent of house hunters are now looking to pay out less than a 10 [...]
Improving economy lifts demand at Hammerson’s shopping malls April 23, 2014 HAMMERSON, the Anglo-French shopping centre landlord, said yesterday that an improving UK economy had helped to drive demand for its sites. The developer signed UK leases at eight per cent above estimated rental value in the period from 1 January to 22 April, and by one per cent in France. Footfall across its UK sites [...]
Amec receives record orders April 23, 2014 ENGINEERING giant Amec yesterday said trading is in line with expectations for 2014, with a record £4.2bn order book giving confidence for further growth. The FTSE 250-listed firm said that its £1.9bn acquisition of US rival Foster Wheeler, which was announced in January, is on track for completion in the third quarter. “We believe the [...]
SSP wins £35m Athens airport contract April 23, 2014 SSP, the food services group run by former WH Smith chief executive Kate Swann, has won a seven-year contract worth €42m (£34.6m) to run nine outlets at Athens’ international airport Eleftherios Venizelos. The restaurants inside a 500 square metre food court opened last month and include Le Grand Comptoir and bakery brand Panopolis. The group, [...]
Secretsales seals £4.5m fundraising April 23, 2014 The flash sales website secretsales.com said yesterday it has raised £4.5m of funding from its private equity owners to help fund its expansion. The group, which offers sales on designer brands for short periods of time, is backed by French venture capital firm Partech Ventures, French private equity firm 123Venture as well as Pentech and [...]
Moneysupermarket hopeful as Google agrees to search solution April 23, 2014 PRICE comparison website Moneysupermarket yesterday said that group revenues rose eight per cent in the three months to the end of March, in line with expectations. However revenue from online insurance sales was flat in the first quarter, with visitor numbers down four per cent compared to the same quarter last year. A penalty applied [...]
Eurostar revenues rise as trips to Europe for business increase April 23, 2014 A RISE in business trips to and from the Continent has helped boost revenues at Eurostar in the first three months of the year. Eurostar said passenger numbers were up three per cent to 2.3m compared to a year ago, with business class traffic up six per cent. “This positive corporate sentiment has contributed to [...]
