Flybe nosedives as investor exits November 13, 2013 Flybe shares crashed 11 per cent yesterday after the embattled airline revealed that Rosedale Aviation, its biggest investor, had sold its 48.1 per cent stake. Rosedale, which represents the interests of the late Blackburn businessman Jack Walker, lost its board representative over the summer when Mark Chown left as part of a management exodus. Several [...]
Maersk sees calmer waters ahead November 13, 2013 Danish shipping and oil group AP Moller-Maersk raised its earnings forecast after a strong third quarter yesterday, pointing to an upturn in the container shipping market that should augur well for the global economy. Revenues at Maersk Line, the world’s biggest container shipping business, fell to $6.78bn (£4.2bn), hit by a 12 per cent year-on-year [...]
CBRE buys Norland Management November 13, 2013 Building group CBRE said yesterday it has paid £250m – plus up to £50m in deferred considerations – for Norland Managed Services, a commercial building and technical engineering service provider in the UK and Ireland. Canaccord Genuity acted as sole financial adviser to the majority owner of Norland Management. Once the transaction is complete, Norland’s existing [...]
City Moves for 14 November 2013 | Who’s switching jobs November 13, 2013 Baker & McKenzie The law firm has announced the hire of Mark Bevington as principal tax adviser in its London corporate tax practice. Bevington specialises in UK domestic taxation. He was most recently at Ernst & Young, where he was a partner. Ernst & Young The professional services firm has appointed David Kilshaw as a partner in its private [...]
Best of the Brokers for 14 November 2013 November 13, 2013 BSKYB Westhouse has given the TV group a good reception, raising its rating from “neutral” to “buy” and sticking to its 985p target. Despite the loss of Champion’s League rights, BSkyB still has strong content and attractive growth, the broker reckons. FULLER, SMITH & TURNER Numis tells investors to “add” shares in the pub chain and [...]
London Report: FTSE dives over rates rise fears November 13, 2013 BRITAIN’S benchmark equity index had its worst one-day fall since mid-August yesterday, weighed down by weaker financial stocks and the possibility the Bank of England may raise interest rates earlier than forecast. Nevertheless, several investors felt the stock market would recover from any pullback in November to end 2013 on a stronger note. The blue-chip [...]
New York Report: S&P and Dow both surge to record high November 13, 2013 THE Dow and the S&P 500 ended at record highs yesterday, driven by gains in consumer discretionary shares after results from Macy’s eased some worries about the holiday season. US stock index futures edged up after the bell following the release of Federal Reserve Vice Chair Janet Yellen’s introductory remarks, ahead of her confirmation hearing [...]
How to seek employer support for your Executive MBA November 13, 2013 But don’t ignore the range of alternative options available if the corporate sponsorship avenue is blocked SINCE the financial crisis, there has been a notable decline in those taking corporate sponsorship for their Executive MBA (EMBA) courses. Whereas around a third of a typical cohort would once be self-funded, with the remainder receiving employer support, [...]
Stronger growth points to review of the Bank’s forward guidance policy November 13, 2013 THE UK economy is looking up – it’s official! The Bank of England delivered a hat-trick of good economic news yesterday in its latest Inflation Report projections. Economic growth is looking stronger, inflation is coming down more quickly than expected, and unemployment is now projected to be lower than in the previous forecast in August. [...]
Mentors are key to helping entrepreneurs reach the next stage of development November 13, 2013 IT SEEMED Julie Waddell had all the ingredients for success when she set up Moorish, which sells Britain’s only smoked hummus products. Orders were pouring in, a leading supermarket had expressed interest in her wares and she had been nominated for an industry award. But Waddell needed help. Lacking business experience, she turned to Chris [...]
