London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Chemring soars on plans to sell non-core assets November 25, 2013 FTSE 250-listed Chemring’s shares jumped nearly 10 per cent yesterday, after the defence equipment maker outlined plans to sell off non-core assets in an attempt to turn around its finances. The company, which makes defence equipment such as flares and explosive device detectors, said it had started a process to divest the assets, although it [...]
Essar Energy’s shares plummet as weaker rupee hits earnings November 25, 2013 INDIA-FOCUSED oil and gas company Essar Energy’s share price fell over 13 per cent yesterday, after its half-year results showed a seven per cent decline in earnings to $543.7m (£336.8m). The FTSE 250-listed firm posted a pre-tax loss of $498.8m, compared to a loss of $282m the previous year. Essar Energy attributed the decline to [...]
Premier Oil diversifies away from bank debt with new sterling bond November 25, 2013 FTSE 250-listed energy explorer Premier Oil yesterday launched a new bond, as it looks to diversify its debt away from banks. The new five per cent sterling-denominated notes mature in 2020 and are available to both wholesale and retail investors. The offer period is expected to close at noon on 6 December and the firm [...]
Interserve lands £150m joint deal with University of Sussex November 25, 2013 SUPPORT services and construction group Interserve has teamed up with the University of Sussex in a 10-year management deal worth £150m. The New Year’s resolution – starting 1 January next year – will see the formation of Sussex Estates and Facilities, with Interserve providing the management and administration services for the contract. Interserve’s roles will [...]
Petrofac wins $2bn Oman contract November 25, 2013 Oil and gas company Petrofac yesterday won a $2.1bn (£1.3bn) contract to expand and improve refinery operations at a refinery in Oman. In a joint venture with Korean firm Daelin Industrial, it will work on the Oman Oil Refineries and Petroleum Industries Company (ORPIC) site near Muscat for three years. The construction and engineering project [...]
Rolls-Royce nets $215m jet deal November 25, 2013 Aerospace giant Rolls-Royce yesterday announced that it has won a $215m (£133m) contract to provide technology that allows US fighter jets to “perform short take-offs and vertical landings”. The deal was with Pratt & Whitney, a US-based aircraft-engine firm. Rolls-Royce has provided 42 of the so-called Liftsystems, as the technology is known, to date. “As [...]
Costain to build Crossrail support November 25, 2013 Engineering firm Costain has won the contract by Crossrail to build Paddington New Yard, between Crossrail’s tunnels and the Great Western railway. The firm said the contract is worth around £30m and is expected to be complete by December 2015. The project includes building a bus parking deck to allow space for Crossrail trains to [...]
City Moves for 26 November 2013 | Who’s switching jobs November 25, 2013 FRP Advisory The specialist restructuring and recovery firm has appointed Michael Healy as a partner. He joins from Leonard Curtis, the rescue and recovery firm. Healy has 22 years’ experience in business advisory restructuring, and has held roles at Barclays, Levy Gee, and RSM Robson Rhodes. Capco The business and technology consultancy has appointed Jonathan [...]
Best of the Brokers for 26 November 2013 November 25, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com WILLIAM HILL Numis has a buy rating on William Hill with a 550p target price following the company’s profit warning last week. The broker said that the warning suggested to them that William Hill may be gaining share of the UK sports betting [...]
London Report: Energy boost from Iran deal lifts the FTSE November 25, 2013 BRITAIN’S main share index rose for the first time in a week in thin trade yesterday as travel stocks rallied on expectations that a nuclear deal between oil-rich Iran and six world powers would help cut fuel costs. Airlines IAG and EasyJet, and cruise operator Carnival, rose between two per cent and 2.8 per cent [...]
