India factories growing again December 4, 2013 A NEW report says that Indian manufacturing returned to growth last month, after a tough summer. HSBC’s emerging markets index, released today, also suggests that November saw the fastest growth in developing economies since March. The index reached 52.1, indicating an expansion.
City A.M. shadow MPC votes 7-2 to hold again December 4, 2013 ALLISTER HEATH | CITY A.M. “Lift rates by 0.25 per cent. Business surveys are heating up and some economists expect one per cent GDP growth in the final quarter of the year – this is no time for emergency all-time-low interest rates. Furthermore, the situation with the housing market, expecially in London, is worrying.” GRAEME LEACH [...]
City analysts expect pressure on Bank to raise rates in 2014 December 4, 2013 THE BANK of England will hold off from any rise in interest rates in the opening months of next year even if unemployment keeps falling, analysts say. Yet some economists believe the Bank’s monetary policy committee (MPC) will come under intense pressure to tighten its stance. A report from City-based Fathom Consulting said yesterday that price [...]
Bridgepoint to seal Cambridge education deal December 4, 2013 EUROPEAN private equity firm Bridgepoint has agreed to buy pre-university training provider Cambridge Education Group (CEG) from Palamon Capital Partners in a deal worth £185m. Bridgepoint said yesterday that the international student market offered long-term sustainable growth, with increasing demand for UK and US university degrees from emerging middle classes in high growth economies such [...]
Eurotunnel wins appeal to keep running its cross-Channel ferries December 4, 2013 EUROTUNNEL has won an appeal to keep sailing the three cross-Channel ferries it bought last year from SeaFrance. The group, which also operates the rail tunnel between France and the UK, said the Competition Appeal Tribunal’s decision “is a victory for the consumer”. The Competition Commission said over the summer that Eurotunnel should be banned [...]
Sirius Real Estate to raise €40m in share placing as profits rise December 4, 2013 SMALL business landlord Sirius Real Estate announced plans yesterday for a €40m (£33.2m) share issue to help pay down debts as it swung back into profit in the first half. The Aim-listed firm, which runs business parks in Germany, has undergone a dramatic turnaround since issuing a profit warning three years ago that left it [...]
BHP’s Yeager joins Cairn India December 4, 2013 FTSE 100 oil and mining firm Vedanta Resources yesterday said it has hired Mike Yeager as chairman of the operations review board at its subsidiary Cairn India. Yeager was formerly chief executive of the global petroleum business at Australian miner BHP Billiton and worked at Exxon Mobil. “[Yeager’s] rich global experience will help Cairn to [...]
Good Energy sells stake in solar site December 4, 2013 Good Energy Group, the Aim-listed renewable energy supplier, yesterday said that it has agreed to sell a 76 per cent stake in a solar energy farm in Pembrokeshire to infrastructure investment company Quercus Assets Selection. Estimated profit from the stake sale will be around £1.3m. Options are in place over the remaining 24 per cent [...]
Greenko revenues rise 32 per cent December 4, 2013 Aim-quoted clean energy firm Greenko, which operates projects across India, yesterday unveiled a 32.4 per cent rise in half-year revenues to €27.9m (£23.1m) and a 49 per cent increase in reported earnings to €24.6m. “Greenko’s 75 per cent growth in capacity to 426 MW this year is thanks to our structured development process that is [...]
City Moves for 05 December 2013 | Who’s switching jobs December 4, 2013 European Wealth The private wealth manager has appointed John Morton as executive chairman. A co-founder of the firm, he was previously chief executive of Syndicate Asset Management and chief executive of Ashcourt. Morton has also worked as investment director at Brachers. Trinity Street Asset Management The portfolio manager has announced two appointments to its client [...]
