Falklands Oil to delay drilling as oil prices slide April 13, 2015 OIL PRICE volatility has taken its toll on Falkland Oil and Gas, which was forced to defer exploration and drilling in offshore fields around the disputed islands, it emerged yesterday. The fledgling firm said the decision to delay drilling a second well could translate into lower costs in future, adding the company would be “in a [...]
Utopia Village: Market Tech’s £44m Camden project to lure entrepreneurs April 13, 2015 The gentrification of the iconic Camden Market precinct shows no sign of slowing as Market Tech pumped £44m into acquiring the Utopia Village office scheme yesterday. The firm hopes to use the area’s rough-around-the-edges appeal to attract entrepreneurs. Located in Chalcot Road, the property sits close to the market entrance, and the new owner hopes [...]
Housing market sees a burst of spring activity as valuations rise April 13, 2015 PROPERTY valuations in March have risen by their highest levels since 2007, according to surveyors. Valuations increased 36 per cent on the month and 42 per cent compared to last year, new figures released by estate agent Connells show. First time buyer valuations nearly matched the rest of the market, rising 33 per cent on [...]
Government loan guarantee sees higher average deposit April 13, 2015 THE AVERAGE deposit for a house purchase using Help to Buy rose to its highest number for 10 months in February, according to figures released by the Mortgage Advice Bureau yesterday. Buyers using the mortgage guarantee scheme put down an average deposit of £9,936 in February, up by 9.2 per cent from January’s £9,099. It marks [...]
Sales up at Safestay’s posh hostels April 13, 2015 SAFESTAY, the Aim-listed property developer of upmarket hostels, posted a jump in full-year sales thanks to growing demand from families, business travellers as well as traditional backpackers for its plush rooms. The four-year old company was founded four years ago with the idea of sprucing up the hostel market and providing a safer and more [...]
Top companies now firing fewer chief executives as share of female bosses edges up April 13, 2015 The biggest firms in the world are opting to plan for their bosses’ successions rather than firing them in a panic, a new report has claimed. According to research from PwC consultancy Strategy&, when firms perform poorly and fire the chief executive, the uncertainty unleashed by the change at the top can lead to a [...]
Airbus reduces over-subscribed Dassault stake April 13, 2015 AIRBUS continued to cut back on its Dassault Aviation holding, announcing it had reduced its stake in the company to 24.4 per cent yesterday. The sell off is the latest since Airbus set about disengaging from the company last November at which time it had held a 46.3 per cent share in the firm. In [...]
Flour-miller Carr’s sees raised profits despite sliding revenue April 13, 2015 RISING sales and food production pushed profits for Carr’s Group upwards, despite a decline in revenue, the company reported yesterday. The agriculture, food and engineering firm posted a modest profit before tax of £10.6m for the six months ending 28 February, up by more than 5.4 per cent on the same period last year. Revenue, [...]
City Moves for 14 April 2015 | Who’s switching jobs April 13, 2015 SunLife The financial services firm has appointed Emma Walker to lead its aggregator, digital, and customer experience teams. She joins from MoneySupermarket.com, where she was head of protection and non core insurance. LCH.Clearnet Steve Briscoe has been appointed group head of technology and operations at the clearing house. He joins from RBS, where he was [...]
Best of the Brokers for 14 April 2015 April 13, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DIAGEO Shorecap has reiterated the “hold” rating for the drinks giant with a target price of 1,923p a share. Analysts continue to see the firm as being in transition under boss Ivan Menezes, and said this will involve further short-term pain in return for [...]
