Nadine Dorries suspended from tories November 6, 2012 CONSERVATIVE MP Nadine Dorries, who represents Mid-Bedfordshire, was yesterday suspended by her party after it emerged she had agreed to take part in ITV1’s reality show I’m a Celebrity… Get Me Out of Here. Dorries has flown to Australia and could be absent from the House of Commons and her constituents for a month.
NYSE Euronext profits fall amid trading slump November 6, 2012 THE OWNER of the New York Stock Exchange yesterday announced that net income fell by 42 per cent to $108m (£67.6m) in the third quarter, despite continued efforts to cut costs. NYSE Euronext has been hit by substantial declines in derivatives activity in its key New York, London and Paris markets. Equity trading volume in [...]
BTA poised to seize oligarch’s assets after appeal thrown out November 6, 2012 MUKHTAR Ablyazov, a fugitive oligarch accused of embezzling more than $5bn (£3.1bn), was labelled “devious” and “cynical” by judges yesterday as his former Kazakh bank BTA prepared to pounce on his assets. On the eve of his fraud trial, the Court of Appeal threw out Ablyazov’s attempts in absentia to overturn a 22-month jail sentence [...]
London & Stamford in merger talks November 6, 2012 LONDON & STAMFORD, the property firm run by industry veterans Patrick Vaughan and Raymond Mould, is to merge with retail landlord Metric Property Investments. The pair yesterday said talks were “in advanced discussions” which, if successful, will lead to London & Stamford’s shareholders owning a 75 per cent share of the enlarged company and Metric [...]
Upbeat trading at G4S despite Olympic fiasco November 6, 2012 SECURITY group G4S yesterday said trading was upbeat as its core UK market showed an improved performance, in spite of the bungled Olympics contract that cost the firm £50m. Revenue grew 6.3 per cent over the nine months to September, while growth in developing markets hit nine per cent over the first nine months of [...]
What are your initial thoughts to G4S’s trading statement? November 6, 2012 JULIAN CATER | CANACCORD GENUITY As management guided at the interims, third quarter organic sales growth has accelerated. Notwithstanding the challenging economic backdrop, which is having a negative impact on developed markets, we forecast organic sales growth of six per cent between 2012 and 2014. STEVE WOOLF | NUMIS An in-line trading statement that highlights [...]
Adecco predicts little relief for EU jobseekers November 6, 2012 ADECCO, the world’s biggest staffing group, said yesterday it expects no improvement in Europe’s job markets until late next year because businesses are reluctant to hire due to uncertainty about the Eurozone debt crisis. “It is going to be very slow in Europe into the beginning of next year and if something improves it is [...]
Babcock boost from austerity as profit jumps November 6, 2012 PROFIT at defence services equipment maker Babcock jumped 13 per cent in the six months to September, as it benefited from governments outsourcing work to private firms. Pre-tax profit for the entire group came in at £142.7m over the six months, up from £126.3m over the same period last year. The FTSE 100 company’s revenue [...]
Forget past performances – it’s new contracts that matter now November 6, 2012 YESTERDAY, shares in support services firms G4S and Babcock went on two rather different journeys. G4S rose almost four per cent after shaking off Olympic embarrassments and growing revenues excluding acquisitions by 5.5 per cent, while Babcock slumped by the same amount despite a 13 per cent rise in profits. But look a little closer [...]
Costain on track for targets November 6, 2012 Engineering solutions firm Costain yesterday said it was on track to meet its full-year targets, despite challenging economic conditions. Around 28 per cent of 2012 revenues are from support services, and this is expected to grow. The forward order book currently stands at £2.4bn for the group, with around £1.6bn in revenues secured for 2014 [...]
