Serco extends Northern Rail deal March 28, 2014 Support services firm Serco will run the Northern Rail franchise with its partner Abellio for an extra 22 months, generating £520m for the London-listed firm. The deal, which runs until February 2016, will keep the companies in place on the Northern routes until a full franchise competition is run. The current contract was due to [...]
Baidu wins US lawsuit dismissal March 28, 2014 Baidu, the Chinese internet search firm, yesterday won the dismissal of a US lawsuit by pro-democracy activists who complained that Baidu had calibrated its search engine to block users in the US from viewing articles and videos advocating greater democracy in China. US District Judge Jesse Furman concluded that the results produced by Baidu’s search [...]
Blow for Tullow Oil in Kenya March 28, 2014 Shares in Tullow Oil fell 2.3 per cent yesterday after the oil exploration firm said a test well in Kenya had failed to find viable crude oil deposits. Despite the disappointment, Tullow remained upbeat, saying it would continue to explore and appraise its first successful basin, as well as step out into several untested basins. [...]
All Nippon makes its biggest order with Boeing and Airbus March 28, 2014 ALL NIPPON Airways has placed an order for planes worth more than $16bn (£9.6bn) at list prices, split between Boeing and Airbus. The Japanese carrier, whose fleet is currently dominated by Boeing planes, has lined up 30 Airbus A320 Neos alongside 40 Boeing models. The order is the biggest in ANA’s history. “Of course we [...]
City Moves for 28 March 2014 | Who’s switching jobs March 28, 2014 Canaccord Genuity Wealth Management The wealth management firm has announced the appointment of David Esfandi as chief executive for the UK. He was most recently at Ashcourt Rowan, where he was a senior leader in its asset management division. AllianceBernstein The investment management firm has appointed Mike Fullalove as product development manager for Europe, the [...]
Best of the Brokers for 28 March 2014 March 28, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com DOMINO’S PIZZA Numis is upbeat about the food chain ahead of an interim management statement for the first quarter due on Wednesday next week. “We expect it to be strong,” Numis says, keeping its “buy” rating and 710p target price, and adding that [...]
London Report: Financial and mining stocks weigh on FTSE March 28, 2014 BRITAIN’S top stock index fell yesterday, with miners leading the retreat on lingering concerns their earnings could be hurt by weaker metals prices following an economic slowdown in China and improving supplies. Banks also lost ground after the Federal Reserve blocked the US units of Royal Bank of Scotland and HSBC from paying higher dividends [...]
New York Report: Falls in bank shares drag Wall St lower March 28, 2014 US stocks fell yesterday, erasing most of the S&P 500’s year-to-date gain, as banking and technology stocks led the sell off. The benchmark S&P 500 turned nearly flat for the year after falling almost one per cent this week as many of the market’s biggest trading favorites lost their momentum. “The decliners once again are [...]
Letters to the Editor – 28/03 – Crossrail 2, Virtual future, Best of Twitter March 28, 2014 Crossrail 2 [Re: London will come to a standstill if we delay Crossrail 2, yesterday] Far from demonstrating a lack of political will on Crossrail 2, the mayor has long been the driving force behind getting this vital project moving. He strongly believes it is critical to boosting capacity and galvanising economic growth, which is [...]
Celebrating the art of living March 28, 2014 Here are some of the public artworks commissioned by property developers to inspire Londoners at home THE TOWER AT SAFFRON SQUARE, CROYDONThis 43-storey skyscraper in Croydon is set to grace London’s skyline in 2016. Residents can expect “five-star hotel living” set against arty interior design. The architecture of the building is inspired by the iconic [...]
