Vestas reports rise in orders and earnings under new chief exec November 6, 2013 TROUBLED wind turbine maker Vestas yesterday posted a 27 per cent decline in revenue in the third quarter, but improved earnings and reduced debt, which the Danish firm said was evidence that its turnaround plan was working. Shares surged 13 per cent yesterday, after the firm raised its full-year free cashflow forecast to €500m-€700m (£420m-£588m), [...]
Lafarge plans more cost cuts November 6, 2013 FRENCH cement-maker Lafarge has set a new target to boost core earnings by at least €1.1bn (£924m) over 2015 and 2016 partly through additional cost cuts of €600m. The group, which is trying to cut debts built up from an acquisition spree, also confirmed debt reduction targets for this year and next as it reported [...]
EasyJet adds passengers November 6, 2013 EASYJET posted a 5.4 per cent rise in traffic for the last month, prompting relieved investors to send its shares up 0.9 per cent yesterday. The firm, whose rival Ryanair issued a profit warning on Monday, said it carried 5.5m passengers in October, adding customers in spite of air traffic control strikes in France and [...]
City bankers to hit the streets for Centrepoint November 6, 2013 MOST bank executives are probably used to a warm and comfy bed somewhere in London’s leafy suburbs. But tonight Credit Suisse’s UK chief operating officer Charles Egerton-Warburton is swapping home luxuries for a taste of what 80,000 young people in the UK suffer every day – a night sleeping rough on the streets. Egerton-Warburton and [...]
New Lord Mayor’s very early commute November 6, 2013 ALDERMAN Fiona Woolf – the next Lord Mayor of the City of London – prepared for the Lord Mayor’s Show with a pitch black dawn rehearsal in the Square Mile yesterday morning. Tomorrow she will become the second female Lord Mayor in the post’s 800-year history.
Any other business – 07/11 November 6, 2013 ■ FOXTONS disappointed many a financial public relations firm when it floated successfully in September without their assistance. But the estate agency chain, which yesterday issued an interim statement highlighting flat sales, might be having a rethink. “It’s early days but we’re gauging whether we might need something,” chief financial officer Gerard Nieslony told The [...]
Pace of growth in UK car sales begins to slow November 6, 2013 CAR SALES rose for the 20th month in a row in October, though the pace of growth slowed to four per cent compared to last year. The Society of Motor Manufacturers and Traders said British buyers registered 157,314 new cars last month, as the new number plates launched in September continued to motor out of [...]
Train manufacturer Alstom cuts 1,300 jobs to offset order drop November 6, 2013 FRENCH power and engineering firm Alstom said yesterday it plans to shed 1,300 jobs and sell a stake in its transport business to raise between €1bn (£800m) and €2bn after a drop in orders hit first-half profit and cash flow. The disposals of a minority stake in the unit known for making high-speed TGV trains [...]
Toyota on track for record profit as exports rise November 6, 2013 TOYOTA is on track to hit the record profit it set before the Lehman crisis after topping up its annual net profit forecast by nearly £1.24bn and outperforming Japanese rivals as its expansion plans bear fruit. The world’s best-selling carmaker is racking up strong sales in a healthy US market while keeping costs in check [...]
October sees small boost to emerging market output November 6, 2013 THE WORLD’S major developing economies saw output growth rise slightly last month, according to the latest HSBC emerging markets index, released today. The bank’s purchasing managers’ index (PMI) for the economies rose to 51.7, up from last month’s 50.7, and above the 50 mark which signals growth. However, performance is still lacklustre in comparison to previous [...]
