Eurozone data brings cheer May 21, 2009 THE eurozone’s services and manufacturing sectors contracted less than expected in May as firms saw the pace of decline in new orders ease, hinting the worst of a deep recession may be over, surveys showed yesterday. Markit’s Eurozone Flash Services Purchasing Managers Index (PMI) rose to 44.7 in May from 43.8 last month, beating the [...]
ACS raises 43.75m to fund further acquisitions May 21, 2009 ADVANCED Computer Software, the healthcare IT services provider, said yesterday it had conditionally raised £43.75m in a share placing to provide funding for future acquisitions. The placing of 145.25m shares at a price of 30p a share was handled by Seymour Pierce and Mirabaud Securities. ACS said it now has over £55m in the bank [...]
Sony halves suppliers on cost-cutting May 21, 2009 Sony will halve the number of its suppliers in the next two years and aims to slash procurement costs by 20 per cent this year, the consumer electronics giant said yesterday, stepping up restructuring efforts amid mounting losses. Analysts saw the move as positive. It comes on top of a plan to cut fixed costs [...]
NOT SO HAPPY BIRTHDAYS May 21, 2009 GREETING cards retailer Clinton Cards placed its Birthdays chain of 332 stores into administration, putting over 2,000 jobs at risk, after the unit was hit by the economic downturn and dire trading. The company, which also operates 692 Clinton Cards stores, said Zolfo Cooper, the turnaround specialist, has been appointed as administrator to the Birthdays chain.
CITY MOVES WHO’S SWITCHING JOBS May 21, 2009 AltiumThe investment banking group has appointed a number of new hires to its London team. Steve Medlicott, pictured, a top-rated capital goods analyst, joins from Singer Capital Markets, while Andrew Burdis joins the institutional sales team from Numis. Ian Williams joins the economics and strategy team from Blue Oar Securities, Clare Banham joins the equity [...]
Rain dampens Strauss plans May 21, 2009 ENGLAND captain Andrew Strauss spoke of his frustration after Headingley’s new £600,000 drainage system failed its first major test in causing the abandonment of the first one-day international with the West Indies. The Leeds ground underwent a vast resurfacing, drainage and irrigation overhaul in the winter, but failed to withstand heavy overnight and morning rain [...]
Under-strength team controversy fans flames before relegation D-Day May 21, 2009 IT IS worth at least £30m to clubs, is the difference between heartbreak and sweet relief for fans, and will probably decide the fate of at least two managers. With so much riding on the Premier League survival scrap, it is little wonder that emotions are getting heated ahead of Sunday’s showdown. Debate has centred [...]
Ronaldo hints at United stay and shuns ‘incredible’ Real May 21, 2009 MANCHESTER UNITED winger Cristiano Ronaldo yesterday appeared to snub a world record summer transfer to Real Madrid, indicating he intends to stay at Old Trafford next season. However the Fifa World Player of the Year hinted at another protracted summer of mixed messages by admitting his interest in Real’s summer rebuilding, which is likely to [...]
Mayweather urges Hatton to quit May 21, 2009 BOXING: Floyd Mayweather Jnr has lashed out at “gun-shot” Ricky Hatton and urged him to quit following his two-round demolition by Manny Pacquiao. Mayweather subjected Hatton to a first defeat in December 2007 and said: “Ricky’s career was over in 2007 when he met me.” He added: “Gaining weight and drinking – you can’t have that [...]
Long shot for Tigers, says Greenwood May 21, 2009 FORMER England legend Will Greenwood believes the Leicester Tigers will start as underdogs for tomorrow’s Heineken Cup showdown with Leinster. Despite the Tigers being known for their big game experience, Greenwood expects Leinster to have the drive to topple the Premiership champions at Murrayfield, and keep the title on Irish shores. “It’s going to be [...]
