Analyst Views: What do you make of Premier Food’s surprise new hire? September 24, 2013 MARTIN DEBOO INVESTECMurray is straight out of central casting for a finance chief of Premier Foods …But lack of continuity is unhelpful to our eyes … Murray’s qualities aside, we see the news as unhelpful to Premier’s efforts to rehabilitate itself in the eyes of the market. DARREN SHIRLEY SHORE CAPITALWe do not believe there [...]
South Korea snubs Boeing September 24, 2013 BOEING has been left out in the cold by South Korea, which has rejected an 8.3 trillion won (£4.8bn) offer by the firm to build 60 fighter jets for the country. The South Korean government has reopened the contest for the plane contract, despite Boeing being the only bidder to turn in a proposal within [...]
Rosneft adds to Russian assets September 24, 2013 OIL FIRM Rosneft is acquiring Enel’s indirect stake in Russian gas producer SeverEnergia, valued at $1.8bn (£1.1bn), in its latest move to boost its presence in the gas market. State-owned Rosneft, the world’s top listed crude oil producer, has been aggressively expanding its gas business with a slew of purchases, including Russian gas company Itera [...]
Telefonica to up its holdings in Telecom Italia September 24, 2013 SPANISH telecoms group Telefonica said yesterday that it has struck a deal that could see it increase its 46 per cent ownership of Telecom Italia, without launching a full takeover of the company. Telefonica said the deal, which will involve a transfer of cash and shares to Telecom Italia’s controlling shareholder Telco, would be worth [...]
Brand Index: Ryanair charm offensive may heal its brand reputation September 24, 2013 RYANAIR, the discount airline that people love to hate, has promised to transform its “macho and abrupt culture” and turn over a new leaf as a more friendly and customer-focused business. The new strategy will include an overhaul of its website, a new team to respond to emails and a pledge to stop fining customers [...]
Microsoft prepares to pay more to keep execs during CEO search September 24, 2013 MICROSOFT’S board has authorised special stock awards to hold onto top executives as the world’s largest software company searches for a new chief executive officer, according to a regulatory filing made public. The company has not yet earmarked any payments, but said in the filing to the US Securities and Exchange Commission that it “may [...]
Euromoney’s revenues to grow September 24, 2013 Business and financial magazine publisher Euromoney said yesterday it expects a nine per cent increase in revenues for its fourth quarter results, which are due out 14 November. The FTSE 250 listed company, which publishes Euromoney magazine, said it expects full year revenue for 2013 to be about two per cent higher than last year, [...]
Blur report a disappointing result September 24, 2013 Blur, the online services exchange, reported widening underlying loss of $1.9m (£1.2m) for the six months to 30 June. The loss was attributed to the company’s increased investment in the corporate sales, marketing and platform infrastructure. Blur’s investments appear to have positively impacted its revenue, which grew 250 per cent to $3.4m in the period. [...]
China to open up Twitter access September 24, 2013 Social networks will be allowed in the proposed free-trade zone of Shanghai by the Chinese government, the South China Morning Post reported yesterday. Facebook, Twitter and other websites were deemed sensitive and blocked by Chinese authorities in 2009, following riots in China’s western provinces that the government of the period blamed on social networking sites.
City Moves for 25 September 2013 | Who’s switching jobs September 24, 2013 Rowanmoor Group The pensions company has announced the appointment of Matthew Robinson as national sales director. Robinson has over 24 years’ experience in financial services, gained with Aegon UK and Scottish Equitable. Jones Lang LaSalle The real estate investment firm has recruited David McCosh as a director in its retail team. He joins from Stephen Kane. DAC Beachcroft [...]
