Bunzl buys three overseas firms January 9, 2014 FTSE 100-listed distribution and outsourcing group Bunzl yesterday said it completed three acquisitions in the US, Germany and Brazil at the end of 2013. The three acquired companies sell personal protection equipment and posted revenues last year of $48m (£29.2m), €6m (£4.9m) and 18m Brazilian real (£4.6m) respectively. Bunzl did not reveal specific deal values [...]
Shanta Gold output hits target January 9, 2014 East Africa-focused miner Shanta Gold yesterday said it had produced 64,054 ounces of gold in 2013, marginally above the guidance of 63,000 ounces. The amount of materials going through the processing plant has reached the target 1,275 tonnes per day, resulting in consistent gold output of around 6,500 ounces per month in the fourth quarter. [...]
City Moves for 10 January 2014 | Who’s switching jobs January 9, 2014 Grant ThorntonThe business advisory firm has announced the appointment of Richard Milnes as a partner in its financial services tax team. He joins from EY, and has previously worked in international tax for Shell and as head of tax planning at Lloyds. CouttsThe bank has recruited Matthew Spencer as executive director and head of intermediaries [...]
Best of the Brokers for 10 January 2014 January 9, 2014 WILLIAM HILL Barclays has cut William Hill from overweight to equalweight with a lower target of 420p. The broker thinks gambling firms will be hit by calls to crack down on gaming machines, but notes that William Hill makes 26 per cent of its earnings this way, compared to 43 per cent at Ladbrokes. TULLOW [...]
London Report: William Hill and retailers weigh the FTSE down January 9, 2014 BRITAIN’S FTSE 100 fell yesterday and underperformed shares in southern Europe, as a rise in the pound against the euro hampered prospects for the index’s exporters and most retailers fell after weak Christmas updates. The FTSE erased gains in the afternoon as the pound rose to its highest in a year against the euro on [...]
New York Report: Investors wait on jobs report for Fed hints January 9, 2014 US STOCKS ended little changed last night in a choppy session ahead of today’s payrolls report, which may provide insights into whether the Federal Reserve will announce another cut in quantitative easing at its meeting this month. Retail and telecom stocks ranked among the day’s biggest losers. The S&P retail sector index slipped 0.2 per [...]
City’s killer instinct to prove too much for Newcastle January 9, 2014 BEN CLEMINSON AND BILL ESDAILE WITH THE WEEKEND’S BEST FOOTBALL AND RACING BETS BOOKIES believe it is Manchester City’s title to throw away this year and the 2012 champions are doing their bit to repay the layers’ faith at the moment. Manuel Pellegrini’s men are the top flight’s form side, having taken 25 points from [...]
Rebecca Curtis set for big day on classy card up at Warwick January 9, 2014 THERE’S a tremendous card packed with quality at Warwick tomorrow and I’m forecasting a big day for Rebecca Curtis as the Welsh-based handler is set to send a number of intriguing contenders up the M5. The Grade Three Betfred Classic Chase (3.35pm) is set to be a real battle of attrition over 3m 5f on [...]
Raise interest rates gradually or risk a much sharper swing of the pendulum January 9, 2014 FOR A given level of inflation, an economy has an “equilibrium” real interest rate. For around 125 years, it has been understood that trying to use policy to manipulate actual interest rates below the equilibrium rate for any sustained length of time will lead either to constantly accelerating inflation or to a growth boom-bust (or [...]
The Long View: Stop speaking like a corporate robot – for the sake of capitalism itself January 9, 2014 HERE’S a new year’s resolution for business: learn to speak human. The state of business language as a whole remains an abiding scandal. HSBC’s coinage of “demising” as a euphemism for “sacking” led last year’s pack, but corporate statements that resemble something delivered by an alien with a glitchy translator are hardly rare. I’ve written [...]
