WSP Group profit falls February 28, 2011 Building and environmental consultancy WSP Group yesterday posted a 24 per cent fall in its full-year pre-tax profit, as government spending cuts led to a weak performance at its transport business. The company, whose projects include the Shard and the World Trade Center Memorial in New York, also expects the UK market to remain subdued [...]
Chemring positive after order hike February 28, 2011 Chemring said yesterday it is confident for 2011 after boosting its order book in the last quarter. It has booked 64 per cent more orders in the three months to the end of January than a year ago, with trading rising 38 per cent year-on-year. The military decoy flares and mine detection firm said it [...]
The riddle of Lord Rothschild and Bill Winters February 28, 2011 BILL Winters, the former co-chief executive of JP Morgan Investment Bank, seems to have fallen on his feet with his recent tie-up with Lord Rothschild’s listed investment vehicle RIT. Winters, who also sits on the government’s Independent Banking Commission, is setting up a new investment vehicle called Renshaw Bay in which RIT is taking a [...]
New high speed train line hit by strong opposition February 28, 2011 THE government yesterday launched its consultation into the proposed high speed rail link between London and Birmingham, amid a wave of complaints. The new line, dubbed HS2, will cost an estimated £32bn – a bill described as “utterly indefensible” by the Taxpayers’ Alliance (TPA). “There are more affordable ways of getting the capacity needed,” said [...]
Chicago boom looks good for US factories February 28, 2011 CHICAGO’S purchasing managers’ index (PMI) reached a 22-year high in February, surprising economists and boding well for today’s US-wide manufacturing results. The PMI hit 71.2 this month, driven upwards by growth in production and new orders, which reached their highest level – 75.9 – since 1983. All index scores above 50 indicate economic expansion. “This [...]
Eurozone inflation revised down but oil and food costs expected to weigh February 28, 2011 INFLATION in the Eurozone was revised down to an annual rate of 2.3 per cent in January, yesterday – surprising economists who had expected it to be held at the earlier estimate of 2.4 per cent. However, strong pressures from oil and food prices are expected to increase the harmonised index of consumer prices (HICP) [...]
End of year boom for Canada GDP February 28, 2011 Canada’s economy roared back to life in the fourth-quarter of 2010, after a disappointing third quarter, supporting expectations that the Bank of Canada will resume interest rate hikes in the first half of this year. Surging exports and strong consumer spending led to a 3.3 per cent annualised rate of growth in the fourth-quarter, up [...]
European construction stagnates February 28, 2011 Construction in much of Europe is set to stagnate in 2011, the Munich-based Ifo Institute think tank said yesterday. Construction volume in 19 selected European countries will total €1.28 trillion, slightly below 2010’s level. In Ireland and Spain the already precarious situation will worsen, Ifo expects, while there is better news in the east, with [...]
THE M25 OF RAILWAYS GETS BORIS’ THUMBS UP February 28, 2011 THE M25 of railways: not the most illustrious description of a rail link designed to ease commuter congestion, but the one that Mayor of London Boris Johnson chose to use yesterday at the opening of the latest extension of the East London Line. Luckily he was referring to the new line’s aim to be an [...]
Generic rivals weigh on Bayer February 28, 2011 DRUGMAKER Bayer’s new chief executive damped market expectations for underlying profit for the next two years as generic rivals weigh on its top-selling pharmaceuticals and after writing down some drug research projects. Germany’s largest drugmaker said yesterday it expects earnings before interest, taxes, depreciation and amortisation (Ebitda) to rise “toward” €7.5bn ($6.4bn) this year and [...]
