Hamworthy in takeover talks November 17, 2011 Finnish ship and power plant engine maker Wartsila is in talks to buy Britain’s Aim-listed Hamworthy in a potential £370m takeover that Wartsila said could boost its presence in the energy sector. Hamworthy said the discussions were advanced, though no formal offer has been made.
Car manufacturers driven by exports November 17, 2011 MANUFACTURING received a much-needed boost in October as car manufacturing rose on increasing exports, according to figures out yesterday from the Society of Motor Manufacturers and Traders (SMMT). Car production was up 14.1 per cent on October 2010, and rose by 5.8 per cent on the year to date compared with the same period of [...]
CITY MOVES | WHO’S SWITCHING JOBS November 17, 2011 ICI Global The global trade body for the fund management industry has appointed Giles Swan (left) as director of global funds policy, effective from January 2012. Swan joins from the Financial Services Authority, where he was a technical specialist on the collective investment schemes policy team. Swan joined the FSA in May 2005. Prior to [...]
Rent rises start slowing but still exceed incomes November 17, 2011 RENTS hit a new high in October, according to LSL Property Services’ monthly buy-to-let index, published today, though the rate of increase fell to its lowest since February. The average rent in England and Wales rose by 0.2 per cent in October to £720 per month, the index showed. The increase compares with a jump [...]
Joblessness is down again on USA recovery November 17, 2011 THE NUMBER of new unemployment claimants in the US slid last week, Department of Labor figures showed yesterday. Weekly initial jobless claims slipped by 5,000 to 388,000 in the week ending 12 November, taking claims to their lowest since April. The figure stood 53,000 higher in the same week last year. The insured unemployment rate [...]
Six new Tories in tax cut demand November 17, 2011 Cutting corporation and capital gains tax, promoting trade between the UK and India, and encouraging retail investors to put cash into infrastructure are among the economy-boosting plans proposed today by six Conservative MPs from parliament’s 2010 intake. “Bold cuts in business taxes” will stimulate growth more effectively than tinkering with the system’s edges, said Karen [...]
Business leaders reject HS2 trains November 17, 2011 The government should improve existing inter-city and commuter rail services instead of spending billions on the new high speed line (HS2), according to a survey out today from the Institute of Directors (IoD). The study found that 83 per cent of directors see investment in congested roads as important to their business, and 83 per [...]
BEST OF THE BROKERS November 17, 2011 INTERTEK Goldman Sachs rates Intertek a “buy” with a £29.44 target price after its latest interim statement suggested it can sustain strong organic revenue growth despite the uncertain macro environment, and see more gains in its underlying margin. Growth in the next year may be enhanced by further bolt-on acquisitions, and it trades at a [...]
FTSE falls as debt turmoil intensifies November 17, 2011 BRITAIN’S top share index retreated yesterday, with nervous investors ditching riskier assets such as banks and retailers, as corporates showed signs of stress in the face of the intensifying debt contagion in Europe. London’s blue chip index shed 85.88 points, or 1.6 per cent to 5,423.14, with the FTSE volatility index, up 10.2 per cent [...]
Choppy day for Wall St November 17, 2011 TRIGGER-HAPPY investors dumped US stocks yesterday, scared by the market’s sudden fall through a key technical level brought on by more worries about Europe’s debt troubles. The S&P 500 steadily slipped through the morning until it broke through 1,225, when selling picked up in both the futures and cash markets. Investors have been increasingly focused [...]
