Stansted rail snub revisited February 23, 2015 CHANCELLOR George Osborne waded into the debate yesterday over the need for a rapid rail line between London and Stansted, by ordering Network Rail to review the decision not to upgrade the route in autumn. The original decision drew criticism from Boris Johnson and Stansted owner Manchester Airports, which stressed the need for the upgrade [...]
Flybe secures turboprop deal February 23, 2015 BUDGET carrier Flybe expanded its Scandinavian operation by leasing four new turboprops with expected the first delivery this year. The new aircraft will be operated by Flybe on behalf of Scandinavian airline SAS after the two companies entered into an agreement last year lasting six years, it said yesterday. The four new ATR72-600 will continue [...]
German tech firm Aixtron is Europe’s most shorted stock pre-results February 23, 2015 German tech firm Aixtron came top of the pile as Markit, the financial information firm, yesterday released its review of the most short-sold European companies due to announce results in the coming week. Aixtron, a perennial target for short sellers, saw its shares out on loan rise by 19 per cent in the last month [...]
Quindell’s stock surges as it extends Slater & Gordon talks February 23, 2015 STOCK in the beleaguered insurance outsourcer Quindell surged 26 per cent in trading yesterday, after the company said it had extended the exclusivity period for talks with Slater & Gordon over the sale of its professional services division. The news was aimed at dampening market speculation that negotiations with the Australian law firm had come [...]
Travelport hits turbulence with ongoing losses February 23, 2015 TRAVELPORT, the UK travel business which recently floated on the New York Stock Exchange, fell yesterday upon reporting its maiden set of quarterly results. Shares in the group closed down 3.5 per cent after the news. The slide came after the group reported a loss of $43m (£27.8m) during its fourth quarter to 31 December [...]
London-based outsourcer Bunzl expands into Spain and Canada February 23, 2015 MULTINATIONAL distribution and outsourcing firm Bunzl yesterday said it had purchased two firms. The London-based company has bought Quirumed in Spain. Headquartered in Valencia, Quirumed supplies healthcare-related products and equipment to an international customer base consisting of medical centres, doctors surgeries and other end users throughout Spain and other European countries. The firm recorded revenues [...]
MXC Capital clinches £9m deal for Better Capital tech firm Calyx February 23, 2015 SPECIALIST merchant bank MXC Capital yesterday acquired tech firm Calyx Managed Services from Jon Moulton’s private equity outfit Better Capital for £9m. Headquartered in Manchester, Calyx provides information and communications technology along with cloud-based managed services to mid-market enterprises. For the year ended 31 December 2014, Calyx had a gross margin of £10.4m and a [...]
Antofagasta says falling oil price and weak peso have slashed costs February 23, 2015 Lower oil prices and a weaker Chilean peso have enabled mining firm Antofagasta to cut its anticipated cash costs for 2015. The firm also stated “certain input costs becoming more favourable” helped drive reduction of costs from $1.75 (£1.13) per pound to $1.40. According to the Chilean company, the revised costs are in line with [...]
Areva warns of deepened loss in 2014 results February 23, 2015 FRENCH nuclear group Areva yesterday warned the market its losses had deepened in 2014, to around €4.9bn (£3.6bn), compared with €0.5bn at the end of 2013. Writedowns on assets both current and non-current were blamed, in part, for the decline. The company also cited provisions for losses at completion and risks on reactor construction, modernisation [...]
Holcim posts strong final quarter as Lafarge merger stays on track February 23, 2015 CEMENT group Holcim reported a positive final quarter of 2014, although overall the firm posted a 3.1 per cent reduction in sales during 2014 – blaming unfavourable currency conditions for having a 5.2 per cent impact on the drop. Operating profit fell by 1.7 per cent to 2.3bn Swiss francs (£1.6bn). The firm stated that [...]
