Speedy Hire sees light on horizon July 21, 2009 Tool hire group Speedy Hire said yesterday it had seen signs that difficult trading conditions were starting to ease, though it remains cautious about the short-term outlook. Speedy, which recently completed a £100m rights issue to shore up its balance sheet, said revenue for the first quarter of the financial year was down 30 per [...]
Yell to confirm progress on reduction of debt pile July 21, 2009 DIRECTORIES publisher Yell Group will tomorrow say it has cut its debt-pile by nearly 11 per cent, to £3.8bn, since its 2008 year-end report and that refinancing conversations with its key lenders are continuing. Earlier this month, the owner of Yellow Pages said it had entered talks regarding a debt restructuring – just eight months [...]
BEST OF THE BROKERS July 21, 2009 CABLE & WIRELESSCable & Wireless maintained guidance at both division and group levels in its first-quarter interim management statement, and Royal Bank of Scotland still considers the equity story one of the most compelling of European telecoms companies. The broker has a “buy” recommendation on the stock, with a target price of 200p. AUTONOMYInvestec believes [...]
DTZ slashes payout after dismal year July 21, 2009 TROUBLED commercial property agent DTZ yesterday announced it was axing its dividend after the economic turmoil sent it plunging into the red. The London-based group reported a £36.1m pre-tax loss for the full year to 30 April compared with a £20.1m profit the year before. The slump in commercial property values and transactions meant the [...]
Bernanke warning fails to curb cheer July 21, 2009 THE Dow rose yesterday as a solid profit from Caterpillar eclipsed unease about the company’s outlook for the current quarter, while both the Nasdaq and the S&P 500 clung to tiny gains after a round of profit-taking. Trading was choppy, with the broader market initially charging higher after the open and the benchmark S&P 500 [...]
Supermarket sweep pushes FTSE to seventh rise in a row July 21, 2009 BRITAIN’S top share index rose for a seventh-straight day yesterday, boosted by supermarkets after a trading update from Wm Morrison, and after strong US quarterly results, with miners also lending support. The FTSE 100 closed 37.55 points higher, or 0.9 per cent, at 4,481.17, following a gain of 1.3 per cent on Monday. The index [...]
NO SIGN OF A TRUCE IN BATTLE OF BROKERS July 21, 2009 THE long-standing tustle between inter-dealer broker Tullett Prebon and BGC Partners looks set to rumble on well into the autumn. Tullett is currently leading a High Court battle to stop its rival pinching any more of its staff. The pair have been at loggerheads since last year, when former Tullett chief operating officer Tony Verrier [...]
AC Milan rule out Beckham bid July 21, 2009 FOOTBALL: AC Milan have denied offering England midfielder David Beckham an early escape route after his stint at Los Angeles Galaxy turned sour. Beckham, 34, was booed by Galaxy fans in his first match back from a loan spell at Milan, but the Italians have ruled out taking him back before the end of the [...]
Brawn: We’ll bounce back July 21, 2009 FORMULA ONE: Team boss Ross Brawn insists his outfit will be back to its best at this week’s Hungarian Grand Prix after being eclipsed by Red Bull in the last two races. Runaway leaders Brawn GP have seen their lead chipped away at by Red Bull one-twos at the British and German Grands Prix. But [...]
Nadal makes tentative return July 21, 2009 TENNIS: World No2 Rafael Nadal has trained for the first time in almost two months. The Spaniard was unable to defend his Wimbledon title because of tendonitis in his knees but practised yesterday at his home in Mallorca. He said: “I am happy to return to training, to have the racquet in my hand and [...]
