CITY VIEWS: DO YOU AGREE WITH RYANAIR’S CALL FOR FEWER SECURITY CHECKS AT AIRPORTS? November 1, 2010 ASRAR HUSSAIN | FDM GROUP “The more checks, the better. I would happily stand in a queue for hours if it means I get to the other end safely. Though the checks need to be the same in every country if they are going to make a difference.” JOE KAEMPER | DAIWA CAPITAL “It’s a [...]
Weir hikes its profit target November 1, 2010 engineer Weir Group yesterday raised its forecast for full-year profits after oil company appetite for pumps spiked in the third quarter. The maker of pumps and valves said order input from customers operating in the upstream oil and gas space rose 232 per cent in the 39 weeks to the beginning of October, compared to [...]
Desire Petroleum well in the Falklands hits another delay November 1, 2010 OIL explorer Desire Petroleum said a closely-watched sidetrack well on its prospect in the Falkland Islands was unable to reach target depth, meaning a further delay before the firm can produce oil. The company said last month that the original Rachel well near the islands did not find oil but that it was going to [...]
Weir Group November 1, 2010 WEIR Group is notoriously conservative with its forecasts, so yesterday’s profit upgrade came as little surprise to shrewd investors. Growth in its minerals order book of 24 per cent is encouraging, up on 21 per cent in its first half. Its oil books also rocketed 91 per cent (compared to 47 per cent in the [...]
Terry Smith launches new fund manager November 1, 2010 CITY veteran Terry Smith is today set to launch his new fund management venture Fundsmith, which aims to shatter preconceptions about the industry by offering investors low fees and a risk-adjusted long term strategic focus. Smith said he aims to capitalise on a “groundswell of opinion” against what he views as the “utterly unsupportable” industry [...]
Injury scare for England as Swann hurts thumb in nets November 1, 2010 SPINNER Graeme Swann gave England an injury scare yesterday in the first practice session since the squad arrived in Australia to defend the Ashes. Swann needed ice treatment and strapping (right) after being hit on his bowling hand by a delivery from Tim Bresnan during a nets session in Perth. The key bowler missed the [...]
De Blonay set to go it alone November 1, 2010 FUND management firm Jupiter said yesterday that Guy de Blonay is to take over as sole manager of its flagship £1bn financial opportunities fund, having co-managed it with star fund manager Philip Gibbs since June. De Blonay joined Jupiter at the beginning of the year from Henderson, where he managed the New Star global financials [...]
Government must decide on horseracing levy size November 1, 2010 THE government was forced to step in yesterday to decide the level of funding for British horseracing after the deadline for the industry and bookmakers to come to an agreement passed without striking a deal. The annual scheme, known as the horseracing levy, sees bookmarkers give up 10 per cent of their profits from horseracing [...]
BG Group’s new project could be revolutionary November 1, 2010 THE coverage of third quarter oil company earnings published today will mask a more interesting story for the energy sector. Natural gas giant BG Group announced on Saturday that it had been given the go ahead to become the first company to liquefy gas from coal deposits. The new venture will have the capacity to [...]
State Street will run national pension fund November 1, 2010 The new national pension scheme for workers with no retirement provision yesterday said it had appointed State Street to administer its funds and was seeking managers for five investment mandates. The National Employment Savings Trust (NEST) said US group State Street will provide administration and custody services for 10 years. Boston-based State Street is one [...]
