Cookson mulls a demerger April 1, 2012 Industrial materials firm Cookson is considering breaking itself in two. The FTSE 250 firm has appointed Rothschild as an adviser and could separate and float its electronics business. Analysts have talked up the benefit of a demerger over the last two months but sources said the review was a routine matter. Cookson, whose products are [...]
PE-backed firms remain upbeat April 1, 2012 Despite continued economic uncertainty and difficult debt markets, private equity (PE) backed companies remain focused on growth and expect to increase both turnover and profitability in 2012. Eight out of ten expect to grow turnover and almost three quarters anticipate EBITDA growth, says PwC in a new report. To reach their growth targets, 60 per [...]
City believes big party donors should get some senior access in return for their cash April 1, 2012 IT is reasonable for major donors to political parties to expect some access to party leaders in return for their cash, according to a majority of those surveyed by City A.M./PoliticsHome.com. Fifty-three per cent of business professionals asked said that those who give over £250,000 should expect to be get “general meetings with the party [...]
Canary Wharf will be open for business during the Olympics April 1, 2012 CANARY Wharf Group yesterday stressed that it would be open for business during the Olympics, following reports the government is pushing for financial services staff to work from home in order to ease travel congestion while the Games are taking place. More than 300 Boris Bike docking stations will be available, while an extra 170-seater [...]
Low export orders hit Chinese growth April 1, 2012 FACTORY output fell again in March, survey data confirmed yesterday, increasing worries over the severity of China’s economic slowdown. Export orders declined once more, Markit’s purchasing managers’ index showed, boosting expectations of a further monetary loosening by the authorities which should stimulate economic activity. The index came in at 48.3 in March, down from 49.6 [...]
Non-execs say boards are not utilising them April 1, 2012 ALMOST half of non-executive directors feel their knowledge and experience is not being used to the full, according to a new study. Some 46 per cent of those polled in the Korn/ Ferry Whitehead Mann and KPMG survey felt under-utilised by the boards they sit on. The research, which involved 300 non-execs from FTSE 350 [...]
FOXCONN GIVING WORKERS A RAISE April 1, 2012 FOXCONN Technology Group will keep on increasing worker salaries in China and cutting the hours of work, chairman Terry Gou said yesterday. Foxconn has come under fire for poor working conditions for employees making Apple iPhones and iPads. Foxconn is building manufacturing facilities in Hainan, as well as expanding its operations in Brazil.
Bullish finance firms up hiring April 1, 2012 CITY firms went on a hiring spree in the first quarter as profits jumped and optimism grew on the stabilisation of the economy and calming of the Eurozone crisis, a survey showed today. Business volumes expanded, fees increased unusually quickly and investment expectations rose, although costs also increased an the value of non-performing loans rose [...]
House prices rise as supply fails to keep up with solid demand April 1, 2012 HOUSE prices rose sharply in March thanks to a lack of supply and the expiry of the stamp duty holiday, but are set to stagnate over the rest of the year, figures from Hometrack suggested today. Prices rose 0.2 per cent in the month, the survey of 1,500 agents and surveyors showed, after 20 months [...]
Manufacturers to lead a mild UK recovery April 1, 2012 MANUFACTURING, media and telecoms will lead the UK’s economic recovery, while construction and business services will struggle to keep up, a study out today claims. The weak pound will support manufacturing by keeping the sector internationally competitive, which should see business failures keep falling into 2013, according to the study from accountancy and law firm [...]
