Construction up in Eurozone September 19, 2011 Eurostat figures yesterday showed growth of 1.4 per cent month-on-month in the Eurozone construction sector. That compares to a decline in output of 1.3 per cent over June. Fluctuations in output over the year mean the construction sector expanded by 1.2 per cent over the year to July. The picture was even less rosy in [...]
US housing confidence flatlines September 19, 2011 Builders’ confidence remained low as the economic outlook worsened and credit conditions failed to improve, according to the National Association of Home Builders’ (NAHB) housing market index. Numbers over 50 show more US builders believe conditions are good than poor. The index fell to just 14 in September, and has hovered between 13 and 16 [...]
WE ARE BOOSTING YOUTH EMPLOYMENT, CLAIM RETAILERS… September 19, 2011 BRITISH shops are boosting youth employment, with more than four in 10 new retail jobs going to people aged between 16 and 21. And around 40 per cent of 16 to 19 year olds with jobs are employed in the sector, the British Retail Consortium (BRC) will argue at the Liberal Democrat conference today.
Sany Heavy to launch Hong Kong listing September 19, 2011 SANY Heavy Industry, China’s largest construction machinery maker, aims to raise up to HK$26bn (£2.1bn) in what could be Hong Kong’s second-biggest stock offering this year, as it defies volatile markets to fund an expansion. Sany Heavy’s offering is one of several deals that are pushing through Hong Kong’s narrowing initial public offering window, with [...]
IGas Energy splashes out £110m on Petronas assets September 19, 2011 MALAYSIA’S national oil company Petronas said yesterday it will sell the oil production business of its UK subsidiary Star Energy Group to IGas Energy for £110m. This is part of its strategy to focus on growing its European asset returns through marketing and trading, Petronas said in a statement. In 2011, Star Energy is expected [...]
DS Smith sells another paper mill September 19, 2011 Office products manufacturer DS Smith announced yesterday that its paper business is selling one of its UK paper mills to Asia File Corporation Berhad for £4.6m. The mill, located in Devon, produces educational and filing papers and makes 34,000 tonnes of paper each year. Earlier this year DS Smith said it was closing its larger Hollins paper [...]
Capita Group buys Vertex arm September 19, 2011 The Capita Group said yesterday that it had agreed to buy Vertex Private Sector, a subsidiary of outsourcing provider Vertex Group. Capita will pay £40.5m for the business, which will affect more than 1,500 jobs in the UK and India. Vertex Private Sector is a contact centre-focused outsourcing business, which is particularly strong in the [...]
UK mobile broadband disappoints September 19, 2011 British consumers want more information and transparency from mobile broadband operators even though their overall satisfaction with providers has improved slightly from last year, a survey by Acision and YouGov showed yesterday. “Seventy per cent of those questioned stated that they would like to be notified in real-time about network congestion, while another 71 per [...]
CITY MOVES | WHO’S SWITCHING JOBS September 19, 2011 Britvic Simon Litherland has been appointed as managing director of Britvic Soft Drinks, and a member of the group executive committee, effective from 4 October. Litherland joins from Diageo, where he was MD of the GB business, responsible for brands including Guinness, Smirnoff and Johnnie Walker. Litherland started at Diageo as finance director in European [...]
BEST OF THE BROKERS September 19, 2011 ASSOCIATED BRITISH FOODS UBS upgrades the Primark owner to a “buy” and ups its target price on the stock by six per cent to 1200p, to reflect increased estimates. The broker makes no change to its full year guidance for 2011 of flattish earnings, but raises 2012 estimates by three per cent to put earning [...]
