Relationship with Middle East is vital to City February 6, 2011 WITH events unfolding in Egypt and the Middle East continuing to dominate the headlines now might not seem like the best time to be leading a City business delegation to the Gulf. But the very fact that recent events have had a ripple effect on international markets highlights how the region is an increasingly important [...]
Carillion renegotiates contracts February 6, 2011 Outsourcer Carillion has secured a 20 per cent saving with several suppliers it holds existing contracts with, as part of efforts to save £140m by 2013. Several arrangements have been made with Carillion where suppliers have agreed to hand back up to 20 per cent of the value of the work they had already agreed [...]
Auto Windscreens seeks cash February 6, 2011 The bankers to Auto Windscreens, Britain’s biggest supplier of replacement car windows, have appointed consultants to find a buyer for the ailing firm. The company’s main lender, Lloyds Banking Group, has appointed Deloitte to look for new investors. Auto Windscreens, which has 1,400 employees, is said to be close to needing fresh funds.
Pattonair eyes £200m sale February 6, 2011 Pattonair, a supplier to the defence sector, is to be put up for sale for more than £200m. The company’s listed parent Umeco, has appointed Rothschild to advise on the sale of the business. Lloyds Banking Group’s private equity unit, Lloyds Development Capital, is said to be in exclusive talks as a potential buyer. The [...]
SUPER BOWL AD REVENUE TOPS $210M February 6, 2011 LAST night’s Super Bowl clash between the Pittsburgh Steelers and the Green Bay Packers was expected to generate more than $210m (£130.5m) in advertising revenue, with companies paying up to $100,000 a second to secure a piece of the lucrative airtime.
More people should be The Apprentice February 6, 2011 WHEN the City opened its doors to the barrow boys of the East End – the wheeler dealer market traders who were first let loose on the London Stock Exchange in the 1980s – they were a roaring success. They had the drive, the hunger and the charisma to allow them to thrive in the [...]
The City’s top headhunter on why firms still need to recruit the best February 6, 2011 PERHAPS not surprisingly, Odgers Berndtson’s boss was in an upbeat mood when City A.M. visited him recently in his large office overlooking Hanover Square in the West End. Last year’s preliminary revenues had just come in: they are an improvement on the year before, always welcome news in the present environment. Richard Boggis-Rolfe, the privately-held [...]
More profit warnings to come in 2011 February 6, 2011 THE number of profit warnings is due to rise this year after sliding to a record low in 2010, according to analysis by UBS. Analysts at the bank emphasised that profit warnings are already on the rise, with January seeing as many warnings as the whole of the fourth quarter in 2010. Last year saw just 196 [...]
US lift for FTSE as geopolitical concerns abate February 6, 2011 THE FTSE 100 is looking set to open back up above the psychologically important 6,000 level this morning, taking its lead from a belated rally in US stocks after the close of European bourses on Friday. GFT is quoting the FTSE 100 index to open up 23 points from Friday’s close, at a level of [...]
Hochtief seeking IPO or sale of unit February 6, 2011 GERMAN construction group Hochtief is seeking an initial public offering (IPO) or a trade sale of its Concessions unit in 2011, said chief executive Herbert Luetkestratkoetter. “Unlike in 2009 (when an IPO plan failed) we are also evaluating a sale to investors,” Luetkestratkoetter told German newspaper Frankfurter Allgemeine Sonntagszeitung. “Now markets have rebounded and we [...]
