Profits dive at jobs firm SThree July 20, 2009 Recruiter SThree yesterday posted a 53 per cent fall in first-half pre-tax profits after the staffing firm’s revenue was hit by a collapse in job markets, especially in the UK. But the IT jobs company – which maintained its interim dividend at 4p per share – said it continued to invest for the future, expanding [...]
Anglo chairman slams merger July 20, 2009 Anglo American chairman Sir John Parker yesterday slammed rival Xstrata’s plan to force a £40bn merger. Parker, who will succeed Mark Moody-Stuart as chairman of London-based Anglo on 1 August, said the merger proposed by rival mining company Xstrata Plc has a “clear value gap” and is a “great distraction” to management. “What looks good [...]
CITY MOVES WHO’S SWITCHING JOBS July 20, 2009 KewillKewill, the provider of software and solutions that simplify global trade and logistics, has announced the appointment of Karen Bach to the board as chief financial officer (CFO) with effect from 17 August. Bach joins Kewill from Advanced Computer Software, where she was CFO, where she was closely involved in its over the last year [...]
BEST OF THE BROKERS July 20, 2009 MEGGITTDeutsche Bank upgraded Meggitt to a “buy” rating, saying that it believes that the aerospace aftermarket should start to show some progress in the second half. The broker said that concerns over the engineer’s balance sheet are over done and believes that the firm’s strong management record will help sustain earnings. DSMAs part of its [...]
Downturn hits downtown as shops lie empty July 20, 2009 ONE in eight shops are lying empty in the UK according to the British Retail Consortium (BRC), which today sets out its rescue strategy for the retail landscape. It says 12 per cent of town centre shops are now vacant, three times as many than last autumn, as retailers have been hit by the slump [...]
Domino’s eyes further gains July 20, 2009 DOMINO’S , the pizza delivery chain, yesterday showed it was slicing its way through the downturn, reporting a 25.2 per cent jump in pre-tax profit to £13.6m from £10.9m a year earlier, as the trend for dining at home shows no signs of abating. Sales at the pizza chain are booming, with like-for-like sales up [...]
IS YOUR VIEW OF PETER HAMBRO MINING BOOSTED BY THE GOLD RUSH? July 20, 2009 CHARLIE GIBSON EDISON RESEARCHThe update is good stuff and is in-line with what they outlined in terms of full-year goals. There are no details on costs but those will come with the interims in about a month. I think the stock is still a ‘Hold’ for now, unless you believe the gold price is going [...]
KKR moves a step closer to US flotation July 20, 2009 KOHLBERG Kravis Roberts (KKR), the private equity firm co-founded by “buyout king” Henry Kravis, yesterday secured agreement for a merger with its affiliated private equity fund KKR Private Equity (KPE). The KPE board accepted the merger offer, initially made in June, taking Kravis’ KKR a step closer to its eventual goal of a becoming a [...]
SMEs prove fertile testing ground for technology July 20, 2009 IN 1517, Martin Luther had a radical idea and courage. His investigation of the scriptures led him to reject outright that salvation could be purchased. His stand against the Catholic Church initiated the Protestant Reformation. He became an outlaw. But Luther’s ideas would have gotten nowhere if Gutenberg decades earlier had not invented the mechanical printing press. Gutenberg’s Bible [...]
Hambro posts surprise gain in gold output July 20, 2009 PETER Hambro Mining yesterday said its gold production jumped 54 per cent in the first half and noted that output, which is traditionally higher in the second half, will be boosted by one of its biggest mines, the Pioneer deposit. The second-biggest gold producer in Russia said its output rose to about 222,600 ounces. The [...]
