Severfield-Rowen cautious on profit June 11, 2012 Structural steelwork maker Severfield-Rowen warned yesterday that its full-year profit might be lower than market estimates as it expects cost overruns on two projects in the UK, sending its shares down 17 per cent. The company, which has worked on access bridges at Arsenal’s Emirates Stadium, said last month it anticipated full-year results to show [...]
Coryton march disrupts fuel supply June 11, 2012 Workers from Coryton oil refinery staged a protest outside the plant, disrupting the supply of fuel heading to petrol stations to voice their anger at the plant’s closure. Some 900 jobs are at risk at the plant, formerly owned by Swiss-based company Petroplus. Administrator PwC has indicated it is unlikely to find a buyer to [...]
Sales fall again in depressed housing market June 11, 2012 HOUSE prices fell everywhere except London last month, according to an industry survey out today, while the number of sales remains very low. A net balance of 16 per cent of surveyors reported prices falling in May, according to the Royal Institution of Chartered Surveyors (RICS), a slowdown from 19 per cent in April. The [...]
Green shoots for jobs in the City in spite of Eurozone’s worries June 11, 2012 RECRUITMENT in the City and throughout the UK is defying the gloomy economic outlook despite increasing worries over a crisis in the Eurozone. London’s financial sector boosted the number of jobs available in May by 17 per cent compared to April, according to a Morgan McKinley survey released this morning. And three quarters of workers received [...]
OECD calls for pension age lift June 11, 2012 People in the rich world need to work for longer before drawing pensions to put state finances on a sustainable path, the Organisation for Economic Cooperation and Development (OECD) warned yesterday. “Breaking down the barriers that stop older people from working beyond traditional retirement ages will be a necessity to ensure that our children and grandchildren [...]
India could see credit downgrade June 11, 2012 Standard & Poor’s said that India could become the first of the BRIC economies to lose its investment-grade status yesterday, explaining “slowing GDP growth and political roadblocks to economic policymaking are just some of the factors pushing up the risk” to the government’s financial stability. Indian stocks fell into negative territory after the S&P statement, [...]
Japanese confidence keeps rising June 11, 2012 Japanese consumer confidence hit a 15-month high in May, government survey data showed yesterday. The cabinet office’s index rose to 40.7, up from 40.1 in April, driven by rising employment, income growth and the overall economic outlook. However the state’s business conditions survey showed increased pessimism as firms worried about the strength of the yen.
CITY MOVES | WHO’S SWITCHING JOBS June 11, 2012 Bellzone Mining The resource development company has appointed Glenn Baldwin as its next chief executive, effective 3 September. He joins from Consolidated Minerals, where he has been chief executive since September 2010, and replaces Nik Zuks. Baldwin has previously held senior roles at Gold Fields, Ivanhoe Nickel and Platinum, Southern Era Diamonds and Anglo American. [...]
BEST of the BROKERS June 11, 2012 BELLWAY Deutsche Bank has maintained its “hold” rating on the new homes builder, and increased its target price by 2.5 per cent to 936p after a reassuring update from management. However, the broker says it remains cautious that longer term upgrades could be limited, as its forecasts are only 10 per cent down on the [...]
Bailout buzz evaporates as FTSE 100 falls in the wake of Spanish rescue June 11, 2012 BRITAIN’S top shares saw earlier sharp gains evaporate yesterday, ending the session lower, as euphoria engendered by a Spanish bank rescue package gave way to concerns over its long-term efficacy, as investors eyed the next hazards in the crisis. The FTSE 100 index ended the session down 2.71 points, or 0.1 per cent, at 5,432.37, [...]
