Subsidies to lift gas storage too costly, say MPs September 4, 2013 THE UK decided yesterday against intervening in the energy market to boost gas storage capacity, saying that subsidising projects would be too expensive for taxpayers. Gas stocks in the UK, Europe’s biggest gas consumer, were near depletion last winter when a prolonged cold spell boosted demand. At the time, the government commissioned a report to [...]
Rutland gobbles up a stake in turkey firm Bernard Matthews September 4, 2013 SPECIALIST turnaround firm Rutland Partners has bought a stake in turkey producer Bernard Matthews. As a result of the deal Rutland partners David Wingfield and Paul Cartwright will gain seats on the board. Financial terms of the transaction were not disclosed, but Rutland is believed to have paid around £25m for the stake. The group, [...]
Mining mergers plunge as fall in prices weighs September 4, 2013 MINING M&A activity worldwide plunged in the first half of the year as falling commodity and equity prices dented confidence, according to fresh research published today. Deal volume was down 31 per cent in the six months from January to June compared to a year ago, while its value plunged a staggering 74 per cent, [...]
Staffline helped by Welfare to Work and growing recruitment September 4, 2013 RECRUITMENT and outsourcing group Staffline yesterday topped forecasts with a 32 per cent surge in underlying profits for the first six months of the year. Revenues rose 14 per cent to £187.2m, while underlying profits before tax jumped to £4.9m. Staffline said its Welfare to Work programme in Birmingham delivered “significant numbers of long term [...]
Safestore bullish despite drop in revenues as names new boss September 4, 2013 SAFESTORE, a provider of self-storage for both personal and business customers, yesterday said they were confident for the full year despite a decline in third-quarter revenue. The company, which operates over 100 self-storage centres in London, saw revenue slip to £24.3m in the past three months, compared to £24.9m a year ago. The company said [...]
City Moves for 05 September 2013 | Who’s switching jobs September 4, 2013 PwC The professional services firm has announced the appointment of Lindsay J’afari-Pak as a partner to lead its tax services to the life insurance industry. J’afari-Pak was most recently at Friends Life Group, where she was group tax director. UBS Global Asset Management Nick Rider has joined the asset management business as institutional sales director. Rider [...]
Best of the brokers for 05 September 2013 September 4, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com PACE Numis tells investors to “sell” shares in the set-top box maker, warning that a glut of disruptive TV platforms from Apple, Intel and Sony is threatening to unsettle the firm’s market. The broker has a target of 200p. SALAMANDER ENERGY Morgan Stanley [...]
London Report: Blue chips end higher despite airline plunge September 4, 2013 THE FTSE top 100 steadied yesterday, paring early losses after a stronger open in the United States but dogged by an airline sector weakened by a profit warning from budget carrier Ryanair. The FTSE 100, which had been 0.6 per cent lower at midday, retraced its losses entirely in the first hour of trading on [...]
New York Report: Syria pause and car sales data lift stocks September 4, 2013 U S stocks rose for a second day yesterday as a possible military action in Syria was seen as limited and strong auto sales lifted investor confidence in the US economy. The US Senate Foreign Relations Committee approved a resolution authorizing a limited U.S. military intervention in Syria, setting the stage for a debate in [...]
Syria crisis highlights a new model for how the Special Relationship can work September 4, 2013 I REMEMBER the exact moment I knew I was a dinosaur. I was included in high-level meetings, aimed at assembling a coalition to buttress George W. Bush’s effort to remove Saddam Hussein. When the topic of whether the British would come along arose, everyone laughed, regardless of party or foreign policy orientation. Confused, I asked [...]
