Reckitt hints at spinning off its drugs business April 16, 2014 RECKITT Benckiser signalled yesterday that it is leaning towards a spin-off of its troubled pharmaceuticals arm as it posted a better-than-expected rise in fourth quarter sales. The consumer goods group behind Durex condoms and Dettol cleaning products last year launched a strategic review of its RBP unit, which is focused on the drug Suboxone used [...]
Euro inflation at lowest level since late 2009 April 16, 2014 INFLATION in the Eurozone last month dropped to its lowest level in over four years, figures from Brussels revealed yesterday. The fall in annual price growth from 0.7 per cent in February to 0.5 per cent in March – a 52-month low – will stoke fears of deflation in the currency union and raise the [...]
Investors breathe sigh of relief as China’s growth rate holds up April 16, 2014 CHINA’S economy grew at its slowest annual rate in 18 months at the start of this year, yet the level was faster than economists had expected and gave a boost to stocks in Hong Kong. Official data said that the Asian giant’s economy expanded by 7.4 per cent annualised in the first three months of [...]
Cybersecurity now the City’s biggest priority April 16, 2014 MOST finance firms plan on hiking spending on cybersecurity and data management this year, according to a study published yesterday by recruiters Robert Half. Coping with new regulations had dominated the survey of chief financial officers (CFOs) for several years, and the change onto security marks a new era in challenges facing the sector. The [...]
MPs urge government to keep census amid concerns over data April 16, 2014 A COMMITTEE of MPs are calling on the government not to scrap the national census, amid concerns that Whitehall is not making the most of the data it already collects. Bernard Jenkin MP, chair of the public accounts committee, said: “The government has previously indicated that the ten-yearly census should be axed, but we believe [...]
Moelis & Co shares rise on debut April 16, 2014 SHARES of boutique investment bank Moelis & Co rose almost five per cent in their debut yesterday, after it cut the size of its offering and priced below its targeted range. The bank, founded by Wall Street investment banker Ken Moelis (pictured), raised about $163m (£97m) after pricing at $25 a share, below the expected [...]
Evraz’s steel production falls in first quarter but prices improve April 16, 2014 RUSSIAN steelmaker Evraz yesterday blamed scheduled maintenance works for an eight per cent drop in crude steel production in the first quarter, but said prices for its products had started to pick up at the end of the period. The heavily indebted FTSE 250 company, which is drastically cutting costs this year, said it expects [...]
Persimmon says house demand is up across UK April 16, 2014 HOUSEBUILDER Persimmon said yesterday that demand for new houses continued to strengthen, helped by government intervention to help first-time buyers. Persimmon, which builds homes across the country apart from central London, said its new financial year had started well, with private sale rates per site up 25 per cent in the first 15 weeks of [...]
Grainger snaps up 61 homes in Kensington & Chelsea for £160m April 16, 2014 RESIDENTIAL landlord Grainger has bought a portfolio of homes in London’s golden postcodes of Kensington and Chelsea for £160m which it plans to refurbish. The company said yesterday it has purchased 61 freehold houses from Property Investments Limited located across nine streets in Knightsbridge and Chelsea. Of the 61 properties, 45 are regulated tenancies and [...]
Distribution firm Bunzl soars on acquisitions and rise in revenue April 16, 2014 BUNZL, the distribution and outsourcing firm, saw its shares climb yesterday after it unveiled three new acquisitions and a rise in revenue and profit. The FTSE 100 company said that trading was in line with expectations, with revenue up five per cent in the first quarter compared to the same period last year, while operating [...]
