WorleyParsons axes 2,000 jobs and cuts hours in face of oil price slide May 4, 2015 WorleyParsons, Australia’s largest oil services business, yesterday announced it was cutting 2,000 jobs and reducing work due to falling commodity prices. The firm, which has operations throughout the UK and the rest of Europe, forecast second-half earnings will fall about 50 per cent from the first half of the year. The Sydney-based company said that [...]
Professional job vacancies soar as pay climbs in “further positive indicator of economic confidence” May 4, 2015 The professional jobs market has brushed off the UK economy’s weak start to the year, according to figures released today by the Association of Professional Staffing Companies (Apsco) . Permanent openings for lawyers, accountants and engineers climbed 20 per cent in April compared with the same month last year. Demand is highest for engineers where [...]
French influence in Middle East rises after inking £4.6bn jet deal May 4, 2015 FRANCE and Qatar signed a €6.3bn (£4.6bn) deal yesterday for the sale of 24 Rafale fighter jets, an accord hailed by President Francois Hollande as a mark of Gulf Arab regard for French regional strategy, including its firm line on Iran. The contract – the third this year for Dassault, after deals to sell Rafale [...]
Rising demand drives up total construction sector turnover May 4, 2015 UK construction firms saw a sharp rise in turnover last year, according to figures released today by BNP Paribas Leasing Solutions. Total turnover of the construction sector jumped six per cent year-on-year to £218bn in 2014. It is now 20.7 per cent above the low reached in the 2009-10 recession of £180bn. The surge in [...]
Monthly spare cash now £311 for Londoners as disposable income rises May 4, 2015 Londoners have £311 available to spend after paying for bills and essentials each month, according a report yesterday by financial services group Scottish Friendly. This amounts to 10 per cent of average London pay, an increase on the first three months of the year, when disposable income was at 9.1 per cent of income. Across [...]
MayAir to breeze on to London Stock Exchange this Thursday May 4, 2015 AIR FILTRATION company MayAir will start trading on the junior stock market Thursday after raising £16m from investors in an initial public offering. The Malaysia-based group, which is the second largest air filtration firm in China, picked Miraubaud Securities to place 12.4m shares at £1.30 each, valuing the company at £55.2m. Shares will trade on [...]
Stride Gaming to raise £10m in market float May 4, 2015 Online bingo company Stride Gaming, chaired by the ex-boss of Sportingbet Nigel Payne, is set to float in London’s junior market after unveiling plans to sell £10m worth of shares to investors. The business, which has appointed Cantor Fitzgerald to raise the cash, said it wanted to take advantage of growing consolidation in the sector [...]
City Moves for 05 May 2015 | Who’s switching jobs May 4, 2015 Lloyds Bank Kash Ahmad has been appointed managing director for mid markets in Lloyds Bank Commercial Banking’s global transaction banking division. He previously worked at Barclays Bank for 21 years years, latterly as managing director of inward business for its global corporates division. Mayer Brown The law firm has announced the appointment of David Harrison [...]
Best of the Brokers for 05 May 2015 May 4, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com FEVER-TREE Shore Capital has initiated coverage of the natural premium mixer brand with a “sell” recommendation and “fair value” outlook of 191p, saying: “Although we see Fever-Tree as a high quality company with strong sales momentum, we believe its valuation is ultra-premium.” SHIRE [...]
Investors await the result of General Election – London Report May 4, 2015 ALL EYES will be on the political polls this week, as the nation gears up for the General Election on Thursday. With little to separate the popularity of the leading parties, the Conservatives and Labour, many expect no party will gain a majority, while many investors and property buyers are holding off from making decisions [...]
