CITY MOVES | WHO’S SWITCHING JOBS March 21, 2012 Ashurst The leading international law firm has announced that James Collins has been appointed as managing partner, with effect from 1 May 2012. Collins trained at Ashurst and became partner in 2005. He is currently a banking partner in Paris, with particular expertise in cross-border acquisition finance and restructuring transactions. He succeeds Simon Bromwich, who [...]
Intertek expands in America March 21, 2012 Testing group Intertek has snapped up a North American product quality and benchmarking group for £4.1m. The firm, 4th Strand, was previously owned by management and is used by retailers to test their product lines. Intertek chief Wolfhart Hauser said: “Their services will increase our consulting capability to existing North American and global clients who [...]
High speed freight trial starts March 21, 2012 The first high speed Channel Tunnel freight train arrived in St Pancras station yesterday morning, a trial that Eurotunnel said could herald next-day delivery from continental Europe. Euro Carex, a group of transport firms and hauliers, said the 120 tonne delivery “clearly shows the interest of strategic players in the logistics field… in linking their [...]
G4S and Serco sign asylum deal March 21, 2012 G4S and Serco signed contracts with the UK Border Agency yesterday to deliver services such as accommodation and transport to asylum seekers. The five-year deal with G4S, the world’s largest security firm, is worth £203m in centres in the Midlands and across the north. Meanwhile Serco will provide services in the north west, Scotland, and [...]
KEEPING THE FIGURES IN THE CHOTE FAMILY March 21, 2012 CHANCELLOR George Osborne makes much of the endorsement given to his Budget by an independent quango he set up to monitor Treasury number fudging, the Office of Budget Responsibility. “These days the direct costing the Treasury applies to every Budget measure is independently assessed and certified by the OBR,” he yesterday declared pointedly to shadow [...]
POLO AT THE 02 March 21, 2012 POLO ponies took to the 02 Arena last night for the second staging of the hugely popular City A.M.-sponsored Gaucho International polo event. The Dome welcomed teams from Ireland, Scotland, England and Argentina for a celebration of the South American country’s sporting and cultural heritage. Guests including Katie Price were treated to a nail-biting headline [...]
BEST OF THE BROKERS March 21, 2012 DEBENHAMS Citigroup has upgraded the retailer to “buy” and has raised its target price from 65p to 85p following Tuesday’s results. The broker is impressed by the firm’s gains in market share and gross margins despite a moribund UK retail market. Citi expects to see share buybacks beyond this year, with eight to nine per [...]
FTSE 100 ticks higher as boost for Vodafone helps counter commodity drag March 21, 2012 BRITAIN’S top share index posted a fractional gain yesterday after a volatile session as strength in market heavyweight Vodafone countered weaker commodity stocks hit by below par US data that revived concerns over demand for metals. The UK blue chip index closed up 0.54 points, or 0.01 per cent, at 5,891.95, surrendering a 0.3 per [...]
Tech shares keep S&P at 4-year high March 21, 2012 US stocks mostly fell yesterday, weighed by the energy services sector, but gains in technology shares buoyed the Nasdaq and helped keep the S&P 500 near four-year highs. The benchmark S&P 500 index, up 11.6 per cent so far this quarter, found buyers at the 1,400 level, which has been held for five straight days. [...]
Chancellor to axe 50p band by next year March 21, 2012 CHANCELLOR George Osborne pledged to cut the 50p top rate of income tax yesterday, claiming it had raised only £100m a year and was damaging Britain’s image as a global centre for wealth creation. Osborne cut the rate to 45 per cent, which aides hinted would now be the permanent top rate of tax. The [...]
