Hunting is trading in line July 4, 2012 Energy services company Hunting said yesterday that it is trading in line. The company said it had been boosted by a pick up in work in the Gulf of Mexico as companies step up work following a period blighted by the Deepwater Horizon BP spill. Hunting chief executive David Proctor said: “Trading in the first [...]
British Airways owner expects Olympics to hit premium traffic July 4, 2012 BRITISH Airlines owner IAG reported a six per cent jump in like-for-like passengers numbers for June yesterday. But the firm, which is running an advertising campaign urging Britons to stay in the country during the Olympics, repeated its forecast that the Games will dampen premium traffic figures during the summer. IAG said it carried 5.05m [...]
Etihad’s revenues take off July 4, 2012 Revenues at Etihad Airways were up 31 per cent in the second quarter as the Abu Dhabi-based airline continued to expand its its global network. The unlisted airline, which recently picked up a 4.99 per cent stake in Virgin Australia and holds a minority stake in Aer Lingus, said second-quarter revenue rose to $1.25bn. It [...]
Unite calls off London bus strike July 4, 2012 The Unite union yesterday called off today’s bus strike, pledging to continue negotiations over bonuses for drivers over the Olympic period. Transport for London intervened in the dispute between the union and bus firms yesterday, offering to give a 50 per cent share of any extra revenues made during the Games to bus staff, on [...]
Heggessey leads Boomerang MBO July 4, 2012 Cardiff-based independent television company Boomerang was the subject of a management buyout led by former BBC1 controller Lorraine Heggessey. The £7.1m takeover will see Boomerang become Boom Pictures, with ex Talkback Thames boss Heggessey its executive chairwoman. The deal has been approved by 81 per cent of Boomerang’s investors , who will receive 77p per [...]
Betfair jumps on horse racing deal July 4, 2012 Betfair yesterfday signed a five-year profit-sharing deal with British Racing which will see the online betting exchange hand over 10.75 per cent of all its UK revenues generated from horse-racing bets. The deal is in place of Betfair’s current voluntary Horserace Betting Levy, and will guarantee a minimum of £40m of funding over the next [...]
CITY MOVES | WHO’S SWITCHING JOBS July 4, 2012 Psigma Psigma Investment Management has appointed Nina Krishna to the newly-created role of chief operating officer. She recently worked as chief operating officer for global banking, markets and private banking for HSBC in Dubai. Krishna has 30 years’ experience in the industry, and has held senior roles at JP Morgan, UBS. She started her career [...]
BEST of the BROKERS July 4, 2012 BRITVIC Numis rates the drinks firm “hold” and has a target price of 320p. The broker thinks the miserable weather has dampened Britvic’s third quarter sales, having endured the wettest June on record, and reckons the firm will see a 2.1 per cent drop in revenues to £318.2m, dragging annual growth to 0.1 per cent. [...]
FTSE ends flat in thin trade with US shut and all eyes on central banks July 4, 2012 BRITAIN’S top share index edged down in thin trade yesterday, moving within a tight range as investors awaited central bank meetings today that many expect to result in fresh economic stimulus. A US holiday contributed to low volumes across the market, at less than half the 90-day daily average, with many investors preferring to wait [...]
Trust has lost all of its value in our state-regulated financial markets July 4, 2012 THE spotlight in the Libor rate-fixing scandal has moved. Questions are being asked about the culpability of the FSA, which may well have ignored repeated warnings about Libor calculations from market participants. The role of the Bank of England and the Treasury is also being questioned. Of course, regulators are not to blame for the [...]
