ANALYST VIEWS: IS DEBENHAMS’ FORECAST REALISTIC? September 14, 2010 CAROLINE GULLIVER| EXECUTION NOBLE Debenhams’ guidance for the full-year looks as though profits, margins and debt levels are encouraging. Debenhams is the cheapest retailer in the sector, and we think the valuation does not give sufficient credit to the 20 per cent profit growth that will be achieved this year, or the continuing opportunity for [...]
Ashmore sees a 36 per cent hike in profits September 14, 2010 Emerging markets fund manager Ashmore smashed forecasts with an astonishing 36 per cent rise in full-year profit. It was boosted by a sharp increase in investor appetite for its core debt products. The British-based specialist manager reported a pre-tax profit of £217m for the year to June, compared with a forecast for £196m. Performance fees [...]
National Express granted extension for East Anglia September 14, 2010 The Department of Transport yesterday granted National Express a 28- week extension on its East Anglia rail franchise. East Anglia services run between London’s Liverpool Street Station and Eastern England destinations, including Peterborough and Norwich. It was announced by the Labour government in late 2009 that National Express would have its seven year franchise agreement [...]
Crossrail, Tube investment worth £78bn to UK economy September 14, 2010 INVESTMENT in Crossrail and Tube upgrades are worth £78bn to the UK economy, the London Assembly’s transport and economic development committees have argued in a letter to chancellor George Osborne. The committees urged Osborne to protect Crossrail and Tube upgrade work from the austerity cuts, warning to do so would be a “false economy” for [...]
Unite: Finance jobs face axe September 14, 2010 OVER 100,000 jobs have been lost in the financial services sector during the last three years with continuing fears by trade union Unite that a “significant” number of jobs are still at risk, despite reports from the UK’s major recruiters that financial services personnel are high in demand. Unite has warned over dangers that a [...]
Shore Capital eyes potential acquisitions after profit lift September 14, 2010 BOUTIQUE investment bank Shore Capital yesterday said pre-tax profits doubled over the first half, despite a challenging period for the markets that included the election uncertainty and sovereign debt crisis in Europe. Shore posted a pre-tax profit of £4.73m for the six months to June, boosted by comparison with £2.92m of balance sheet losses in [...]
CITY VIEWS: ARE YOU OPTIMISTIC ABOUT THE CITY JOB MARKET? September 14, 2010 DANIEL BOTTERILL | SUSTAINABLE RESOURCE SOLUTIONS “Things are on the up. It’s a lot busier around the City just now. There seems to be more recruiting and a lot more opportunities to invest capital. I definitely think that things are on the up.” BEN VADGAMA | 1E “The City job market is very good because [...]
ECJ rejects in-house legal privilege plea September 14, 2010 EUROPE’S legal community was disappointed yesterday after the European Court of Justice (ECJ) refused to grant privilege protection to in-house lawyers practising on the continent. The ECJ handed down the judgement yesterday morning after a lengthy battle, which called into question whether Europe’s in-house lawyers should receive privilege rights during investigations by competition officials. The [...]
Lego loses trademark challenge at top EU court September 14, 2010 DANISH toymaker Lego has lost a court battle to have its snap-together plastic bricks registered as an exclusive trademark in the European Union. Lego argued that studs on top of the bricks made them highly distinctive and, thus, eligible for trademark rights. The European Union Court of Justice upheld a 2008 ruling by the General [...]
City law firms upbeat about next 12 months September 14, 2010 THREE out of four law firms based in London are upbeat about the next 12 months while regional counterparts continue to remain cautious. Annual figures assembled by accountancy firm Smith & Williamson show that three quarters of the firms polled with a head office in London are “reasonably confident” about the next year. Sixty-eight per [...]
