Kenmare Resources output up January 23, 2014 Irish mining company Kenmare Resources yesterday reported increased production in the fourth quarter of 2013, despite a fire which hurt output. The firm’s Moma Mine in Mozambique, which was hit by the fire, mined 7,655,600 tonnes of ore, 120 per cent more than in the fourth quarter of 2012. Kenmare suffered a decrease in Zircon [...]
Kentz earnings meet expectations January 23, 2014 FTSE 250-quoted engineering firm Kentz yesterday said that its earnings per share for 2013 are in line with expectations, reflecting double-digit growth on 2012. The company also said that it completed its acquisition of US operator Valerus Field Solutions on 3 January for $435m (£262m). “I am pleased to report that we are starting the [...]
City Moves for 24 January 2014 | Who’s switching jobs January 23, 2014 SEI The investment management firm has announced the appointment of Brett Williams as UK managing director of its wealth platform. He joins from LW2 Private Equity Partnership, where he was a partner. Prior to that, he held senior roles at Cofunds, Selestia and Skandia UK. PwC The professional services firm has appointed Philip Smith to its [...]
Best of the Brokers for 24 January 2014 January 23, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com WH SMITH UBS keeps its neutral rating and nudged its target price 50p higher to 1,050p following the retailer’s Christmas trading update. The broker is cheered by WH Smith’s first like-for-like rise in travel sales since 2009 and thinks rising air traffic could boost [...]
London Report: Sharpest fall in the FTSE since turn of the year January 23, 2014 BRITAIN’S main equity index yesterday suffered its biggest one-day fall this year, weighed down by disappointing US economic data and weak updates from Easyjet and Pearson. Global stocks extended losses in the afternoon as data showed US manufacturing growth slowed in January for the first time in three months. The data further undermined sentiment towards [...]
New York Report: China’s factory data sees stock fall on Wall St January 23, 2014 US STOCKS fell yesterday, with the Dow Jones industrial average recording its third consecutive day of losses, as risky assets sold off in wake of disappointing manufacturing data in China. Financials and materials stocks were the day’s biggest losers while telecom services was the only positive sector as investors sold growth-oriented stocks and bought defensive [...]
Crime’s downward path: A promising trend with no room for complacency January 23, 2014 IT’S BEEN called the riddle of peacefulness. Many think crime is a growing problem: a 2013 Ipsos Mori study found that 58 per cent didn’t believe it was falling, while 51 per cent thought violent crime was getting worse. Yet Britain, in common with much of the developed world, has enjoyed nearly 20 years of [...]
The Long View: The real way to shake up British banking: Embrace the third party future January 23, 2014 THE LACK of competition among Britain’s retail banks is under the microscope. Yet an important part of the solution is not getting enough attention. While breaking up big banks would not be as easy as Ed Miliband thinks, and the current height of the regulatory hurdles makes the field of entrants sparse at best, the [...]
Britain’s pensions crisis is worse than you think: We must save even more January 23, 2014 WHAT does a decent pension cost? The short answer is a lot; and a lot more than most people think or want to know. The government plans to prevent a pensions crisis with two main policies: first, a state pension payable from the age of 67 or 68 of about £7,000 a year; secondly, it [...]
Letters to the Editor – 24/01 – EU green targets, Compulsory saving, Best of Twitter January 23, 2014 EU green targets [Re: Industry welcomes EU green targets for 2030, yesterday] It is incorrect to suggest that all businesses welcome the new targets. While it is promising to see the EU placing climate change and competitiveness side by side, it’s clear that others in Europe have little appetite to match the UK’s binding 50 [...]
