Asda sparks off a supermarket petrol price war October 29, 2013 ASDA fuelled a supermarket price war when it unveiled plans to cut petrol prices yesterday, causing other major British chains to quickly follow suit. The budget chain said that from tomorrow it would cut petrol to its lowest price this year, at 126.7p per litre on unleaded and 133.7p per litre for diesel. Sainsbury’s is [...]
Healthy sales a boost for NMC October 29, 2013 ABU Dhabi’s NMC Health yesterday revealed a 10.6 per cent jump in revenues during the third quarter, sending its shares in London up by 3.4 per cent. The company made $136.5m (£85.1m) in the three months to the end of September, up from $123.4m during the same period last year. Its healthcare division “continues to [...]
Shell deal for Wood Group October 29, 2013 FTSE 250-listed energy services firm John Wood Group yesterday said it has secured a two-year contract extension with oil major Shell’s UK division to deliver services to two gas plants in Scotland. The firm employs around 500 people under this contract, the value of which was not disclosed. It will provide engineering, project management, construction, [...]
City Moves for 30 October 2013 | Who’s switching jobs October 29, 2013 KPMG The professional services giant has announced the appointment of Gary Reader as global head of insurance. Reader is a KPMG veteran having been at the company for 28 years, and was most recently its UK head of insurance advisory. Capco Christopher Geldard has been appointed head of the global banking practice and member of [...]
Best of the Brokers for 30 October 2013 October 29, 2013 REDROW Panmure Gordon has upgraded homebuilder Redrow to buy with a target price of 294p following a meeting with the company. “The progress that this company has made in recent years under the current management team is remarkable,” said the analysts. COCA-COLA HELLENIC Greek fizzy drinks giant Coca-Cola Hellenic, now listed in London, has been [...]
London Report: FTSE rises on BP strong figures and a dividend October 29, 2013 BRITAIN’S top share index climbed to a five-month high yesterday, with investors flocking to buy energy stocks after strong results from BP raised expectations for earnings from the sector. BP was the top-performer on the blue-chip FTSE 100 index, surging 5.6 per cent after the company announced forecast-beating profits, a dividend hike and plans to [...]
New York Report: S&P 500 and Dow hit highs over Fed news October 29, 2013 THE DOW and S&P 500 ended at record highs yesterday after economic data supported views that the Federal Reserve would keep its stimulus intact for several months and IBM rallied after the company announced a stock buyback. IBM gave the biggest boost to the Dow, which led the day’s gains. The stock, which also helped [...]
Smart cities have arrived and the potential is huge October 29, 2013 THE PROPORTION of people living in the world’s cities passed 50 per cent for the first time in 2008. And just 600 cities accounted for about 60 per cent of economic growth in 2011, according to McKinsey. While a third of the developed world’s cities are expected to drop out of the top 600 by [...]
Britain can build on its position as a leading centre of Islamic finance October 29, 2013 WITH London opening its doors to the World Islamic Economic Forum (WIEF), the buzz around Islamic and ethical finance continues to grow louder and stronger, and it’s easy to see why. As an industry worth around $1.85 trillion (£1.15 trillion) globally, with growth rates of up to 15 per cent each year, many are attracted [...]
British Business Pavilion sells UK healthcare innovations to Islamic investors October 29, 2013 SITTING two floors above the main exhibition space, and accessible by invitation only, UK Trade and Investment’s (UKTI) British Business Pavilion at this year’s World Islamic Economic Forum is the centre of Britain’s attempts to gain a tangible trade benefit from the Forum. A carefully selected series of exhibits offer a snapshot of the UK’s [...]
