Grafton shifts listing to London September 16, 2013 Home improvement and building supplies group Grafton said yesterday it will switch its primary listing to the London Stock Exchange next month. Grafton units will cease trading on the Irish stock exchange on 15 October and will trade solely on the London bourse, reporting its results in sterling. Its decision was prompted by a fall [...]
Bombardier jet makes first flight September 16, 2013 Bombardier’s CSeries jetliner successfully completed its first flight yesterday, a key step in a £2.14bn programme to develop the first all-new narrow-body plane of its size in decades that the firm hopes will increase sales. But the jet still faces an ambitious, 12-month deadline to start carrying commercial passengers.
Shore Capital enjoys a bumper six months September 16, 2013 INVESTMENT company Shore Capital Group, the third largest market marker on the London Stock Exchange, yesterday posted a thumping increase in half year pre-tax profits. The group, set up by Howard Shore in 1985, said bottom line profit rose by more than a third to £2.9m from £2.2m. Including the impact of a German telecom [...]
Pru gets green light to shift its Hong Kong arm September 16, 2013 BRITISH insurer Prudential will press ahead with the separation of its Hong Kong business from the UK parent company at the start of 2014 after gaining legal clearance for the move. Prudential said in a statement yesterday that courts in Hong Kong and London have approved a timetable for so-called domestication of the business that [...]
Cayenne alters its investments September 16, 2013 THE CAYENNE Trust, the listed fund of funds, yesterday revealed a small reshuffle of its portfolio after posting a total return to its investors of 8.6 per cent. The trust, which is listed on the FTSE, said it had cut its holdings in special situations funds Utilico Investments and Hansa Trust after becoming “frustrated” with [...]
Payments rise for online firm September 16, 2013 OPTIMAL Payments, the online credit card processing firm, saw an eightfold increase in half-year profits to $15.5m (£9.7m) from last year’s $1.7m, it reported yesterday. Revenues for the group rose 50 per cent to $118.4m from sales of its Neteller e-wallet business and growing Asian market. The company, which helps customers use credit card, debit [...]
Oriel forges alliance with Canadian firm CIBC September 16, 2013 ORIEL Securities has struck a deal with Canadian bank CIBC that will see the stockbroker take a loan from its larger peer and work together on deals. Oriel, which had been the subject of months of takeover rumours, said the arrangement builds on an earlier deal to distribute the London-based broker’s research in North America. [...]
Petrofac signs £75m contract September 16, 2013 PETROFAC, the FTSE 100-listed oil and gas services provider, yesterday said it has signed a $120m (£75.3m) agreement with Petronas, the Malaysian national oil company. Under the five-year deal, which has an option to extend for a further two years, Petrofac will operate and manage two offshore training facilities for Petronas. The agreement follows an [...]
Sirius Minerals falls on further delays to York Potash Project September 16, 2013 AIM-LISTED Sirius Minerals’ share price plummeted almost 20 per cent yesterday after it said it will not submit planning application documents for the York Potash Project until July 2014. The British potash miner had previously planned to start building the project this year, pending approval from the North York Moors National Park Authority. It asked [...]
Ex-Rio chief Tom Albanese joins Vedanta September 16, 2013 TOM ALBANESE has been hired for a senior advisory role at Vedanta Resources, returning to the mining sector after being ousted from Rio Tinto earlier this year. The India-focused resources group said yesterday that Albanese has been hired as chairman of Vedanta Resources Holdings, a subsidiary of the FTSE 100 company. In his new role, [...]
