Kentz secures fresh work on Qatari projects November 20, 2013 KENTZ has won a $190m (£117.7m) contract with Qatar Petroleum to install equipment on 775 wells in the Dukhan oil field. The firm, which spurned a pair of takeover offers over the summer, said yesterday it will work with Qatar Petroleum for three years on the sites. “Kentz was awarded its first project with QP [...]
Burger King takes its first bite into India with joint venture November 20, 2013 BURGER King’s Whopper burgers will be available in India for the first time, after it yesterday announced plans to open its fast food chain in the world’s second most populous country. It will partner with private equity firm Everstone, which specialises in India and South East Asia, to set up a supply chain and establish [...]
HICL sizes up assets abroad as values rise November 20, 2013 ONE OF Britain’s biggest listed infrastructure investment funds is looking for more assets outside its home market as a UK model for funding public works projects with private money catches on overseas. HICL, which invests in public infrastructure and concessions such as hospitals, roads and schools, said yesterday it added 10 new investments and boosted [...]
ThyssenKrupp delays results as plant sale to ArcelorMittal nears November 20, 2013 THYSSENKRUPP is nearing a long-awaited sale of its US steel plant and has reached an agreement to settle a cartel lawsuit, clearing the way for it to raise much-needed capital. Shares in Germany’s biggest steelmaker fell two per cent, however, as it became clear that the deal would not include the company’s lossmaking Brazilian factory. [...]
Hyder Consulting nets UK work but Australia drags on its profit November 20, 2013 HYDER Consulting, the engineering consultant behind the London Bridge station refurbishment and the Burj Khalifa skyscraper, reported a 20 per cent jump in UK revenues yesterday. Group revenues were flat at £150m and half-year profits slipped from £11.9m to £10.6m, however, with the weaker Australian dollar and a drop in performance bonuses behind the slide. [...]
City Moves for 21 November 2013 | Who’s switching jobs November 20, 2013 Barclays The bank has announced the appointment of James Brincat to its Beyond Benefits business. He has over 12 years’ experience working in financial services. Brincat was most recently at Thomsons Online Benefits, where he was an account director and head of partnerships. ING The financial services group has hired Leo Greve as head of [...]
Best of the Brokers for 21 November 2013 November 20, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com EASYJET HSBC has raised its rating from “underweight” to “neutral” and lifted its target from 1,225p to 1,375p, admitting that it had worried too much about the airline’s results. While the broker thinks competition is growing in low-cost travel, it adds that EasyJet [...]
London Report: FTSE pares back losses after ECB weighs rate cut November 20, 2013 THE UK’s FTSE 100 was dragged down yesterday by heavyweight stocks such as Vodafone trading ex-dividend, but briefly pared its losses after a report that the European Central Bank was considering negative deposit rates. Bloomberg reported that the ECB was considering a cut in its deposit rate to minus 0.1 per cent from the current [...]
New York Report: Fed minutes drive Wall St into reverse November 20, 2013 US stocks fell yesterday after minutes from the Federal Reserve’s last meeting said the central bank could begin to scale back its stimulus program at one of its next few meetings. While Fed officials said such a move would happen only if economic conditions warranted it, some analysts said the minutes suggested the central bank [...]
University has become an arms race: We must give students an alternative November 20, 2013 THESE are not great times to graduate from university. Against the backdrop of a declining graduate premium (the difference between the earnings of graduates and non-graduates), university fees have shot up, and both the graduate unemployment rate and the share of graduates who have ended up in non-graduate jobs have increased (from 37 per cent [...]
