Page Group has profit dented by weaker euro March 11, 2015 INTERNATIONAL recruitment company Page Group had £33m knocked off its 2014 gross profit by adverse currency movements, according to the firm’s financial results released yesterday. Without accounting for exchange rate changes, Page Group saw a 10 per cent increase in gross profit in 2014 compared with 2013. But this was reduced to 3.3 per cent [...]
Hikma shares drift down as profits surge March 11, 2015 SHARES in Hikma Pharmaceuticals were knocked yesterday despite the company recording a double-digit rise in full-year profits for 2014. The London headquartered FTSE 100 company was founded in 1978 in Jordan and specialises in making branded and non-branded generic drugs. In 1996 it became the first Arab company to export pharmaceuticals to the US. The [...]
PayPal sets up cyber security centre in Israel and buys startup CyActive March 11, 2015 Online payments company PayPal yesterday announced it was establishing a cyber security centre in Beersheba, Israel, and has bought local startup CyActive to help to launch the development. PayPal, which is due to be spun off from eBay later this year, did not disclose financial details, but Israeli media have said the purchase was worth [...]
Current account fraud rises on switch service March 11, 2015 THE BANK account switching service has prompted a sharp rise in fraudulent applications, Experian said today. In the last quarter of 2014, 79 of every 10,000 current account applications were fraudulent, Experian believes. That is up from 69 cases in every 10,000 a year earlier. It takes current account fraud to a level well above that seen [...]
LV= takes big hit from Osborne’s new annuity rules as profit drops March 11, 2015 A DOUBLE-whammy of low interest rates and chancellor George Osborne’s overhaul of Britain’s pensions industry have hit profits at mutual insurer LV=. The cricket and rugby sponsor saw pre-tax profits plummet 76 per cent to £37m last year after lower returns in its investment portfolio. Although pension sales were up to £63m from the £587m in [...]
Glencore in debt for equity swap with Russneft March 11, 2015 Mining firm Glencore is finalising a purchase of a 49 per cent stake in Russian oil refinery firm Russneft. The companies are preparing a deal to convert $900m (£604m) of debt into equity, which will see Glencore take on a 49 per cent holding in the producing side of the Russian firm. Glencore, which is [...]
Centaur back in profit after restructuring March 11, 2015 SHARES in publishing group Centaur Media fell by 2.58 per cent yesterday, despite the company posting a return to profit in 2014. The company, which publishes titles such as The Lawyer and Marketing Week, moved from a loss of £35.7m in 2013 to a profit of £14.2m last year. The firm also reported revenue of [...]
Areva plans 1,500 redundancies in Germany after record losses March 11, 2015 FRENCH state-owned nuclear energy company Areva yesterday announced plans to cut 1,500 jobs in Germany over the next two years. The redundancies, which include temporary contracts and follow 1,500 cuts announced in 2011, will be discussed with trade unions, a spokeswoman for Areva said. Areva Germany employs 5,100 people. Globally, the firm has 45,000 staff. French [...]
Merck’s melanoma cancer drug given go-ahead for UK patients March 11, 2015 MERCK & Co cancer drug Keytruda was announced yesterday as the first medicine to be made available to patients in Britain under a new early access scheme. Keytruda works by boosting the immune system and has yet to be licensed in the rest of Europe. The Medicines and Healthcare Products Regulatory Agency said that the [...]
Profit falls at Brooks Macdonald put down to higher admin costs March 11, 2015 WEALTH manager Brooks Macdonald Group yesterday reported a fall in first-half pre-tax profit due to higher costs, as revenue increased and the company’s discretionary funds under management rose substantially. Brooks Macdonald said its pre-tax profit for the six months to the end of December was £4.5m, down from £4.9m a year earlier, due to higher [...]
