Peugeot plots asset sale as profits drop February 15, 2012 PSA PEUGEOT Citroen yesterday pledged additional savings and asset sales including its Gefco transport and logistics unit as it struggles to cut debt and battle losses at its auto division. Europe’s second-biggest carmaker recorded a second-half operating loss of €497m (£412.6m) at the core manufacturing arm, compared with a year-earlier €96m profit, the company said [...]
Morgan Crucible reports record results for the year February 15, 2012 BRITISH advanced materials group Morgan Crucible yesterday posted its strongest-ever results and said it expects an expansion in emerging markets in 2012 through its new high-margin thermal ceramic fibre products. The FTSE 250-listed company said that revenues lifted from £1bn to £1.1bn while pre-tax profits surged 64 per cent to £111m for the year. The [...]
Eni forecasts weak 2012 as Europe falters February 15, 2012 ITALIAN oil and gas group Eni sees economic gloom in Europe hurting its business in 2012, yesterday citing “poor recovery prospects” for its gas business and “a depressed trading environment” for its loss-making refining division. Reporting results ahead of a strategy presentation due next month, the company said it expects oil and gas output to [...]
CITY MOVES | WHO’S SWITCHING JOBS February 15, 2012 Octopus Investments The fund management company has hired James Almond to join the 30-person specialist finance team to work under the head of the unquoted division, Alistair Seabright. In the new role, Almond will structure new funds and investment products for both institutional and retail investors. He joins from Cornhill Asset Management, where he was [...]
BEST OF THE BROKERS February 15, 2012 OCADO UBS has downgraded the grocery delivery service from “buy” to “neutral” due to the stock’s recent outperformance, but raises its target price from 95p to 110p due to high peer group multiples. The broker says the business has yet to prove its credentials, and says consensus forecasts are still somewhat optimistic, especially for 2013. [...]
Apple drags Wall Street into the red February 15, 2012 US stocks fell yesterday for the third session in four, with market direction largely dictated by the swings in shares of Apple, the largest company in the world. The S&P 500 appeared set for a strong move off a nine-month high as Apple shares gained three per cent in early trading, helped by Tuesday’s disclosures [...]
FTSE falls in light trading as heavyweights go ex-dividend February 15, 2012 BRITAIN’S top share index fell in light, choppy trade yesterday, pressured by heavyweights such as BP trading ex-dividend, and miners and broadcasters after analysts cautioned against further upside to recent sector gains. London’s blue chip index closed down 7.71 points or 0.1 per cent at 5,892.16. The FTSE 100 has barely moved outside of the [...]
Room for optimism for those with experience on their CVs February 15, 2012 Candidates with fixed income and emerging market debt expertise are best placed to negotiate increasingly favourable terms with prospective employers GROWTH in the Bric countries, Asian and Middle Eastern markets took centre stage in 2011, meaning the biggest challenge for funds was recruiting individuals with a track record in exploiting this space. Candidates with the [...]
The skills chief executives really want February 15, 2012 RECENT research covering the opinions of 280 chief executives from over 21 countries launched by CIMA (Chartered Institute of Management Accountants) and the AICPA (American Institute of Certified Public Accountants) highlights how in this time of flux, when business is being disrupted by globalisation, innovation and the fallout from the global financial crisis, employers are [...]
JOBS of the WEEK February 15, 2012 IN ASSOCIATION WITH Marks Sattin Specialist Financial Recruitment Programme Manager Market Risk Infrastructure £100,000 This is a leading programme that brings together accountability for the design, management and delivery of strategic transformation programmes. Your role will be to ensure delivery of complex large scale projects or programmes and changes by leading project managers through the [...]
