Profits increase at food packer Hilton Food’s September 10, 2013 MEAT packager Hilton Food Group said yesterday pre-tax profit for the first half rose marginally as favourable exchange rates helped offset the impact of high meat prices and lower consumer spending in Europe. Hilton Food said pressure from tight consumer spending and high meat prices are expected to continue in Europe over the rest of [...]
Nuclear firm Urenco on track for year despite 45pc fall in revenue September 10, 2013 NUCLEAR fuel company Urenco yesterday posted a 45 per cent drop in first-half revenue and a 31 per cent fall in earnings, blaming a lower level of deliveries than during the year-ago period. Revenue fell to €384m (£324m) and earnings dropped to €319m, but the company said that it expects a “substantial rebalance” during the [...]
Strong market update drives Fenner shares up five per cent September 10, 2013 BRITISH conveyor belt manufacturer Fenner yesterday said that it expects its full-year results to remain in line with expectations and anticipates a return to growth in the next financial year. The FTSE 250-listed firm posted net debt of around £125m, beating management and analysts’ expectations. This was attributed to the timing of payments, reduction in working [...]
City Moves for 11 September 2013 | Who’s switching jobs September 10, 2013 Covington The law firm has announced the appointment of Charlotte Hill as a partner in its London office. Hill specialises in financial regulatory matters. She was most recently a partner at Stephenson Harwood. PwC Daniel Hepburn has joined the reward team at the professional services firm, where he will advise on the design and implementation [...]
Ministers claim Greek budget now in surplus September 10, 2013 GREECE’S finance ministry claimed yesterday that the government has managed a €2.92bn (£2.47bn) surplus in the first eight months of 2013, suggesting the country may even beat targets set by international lenders. The ministry’s preliminary estimates indicate that the Greek spending reduction programme may be having some belated successes, after repeatedly underperforming. At the same [...]
Abe orders October stimulus to counter planned increase in tax September 10, 2013 JAPANESE Prime Minister Shinzo Abe promised new stimulus efforts yesterday, which will be announced in October to coincide with a planned tax hike. Abe has told cabinet ministers to assemble programmes to ensure growth for the end of this month, reacting to concerns about a hike in the sales tax, which is set to rise [...]
Industrial boost in China bucks world trends September 10, 2013 INDUSTRY in China performed unexpectedly well in August, with the highest growth rates in nearly a year and a half revealed yesterday. The Chinese economy has appeared to be more resistant to the effects of the looming tightening of US monetary policy, with less adverse reaction than other emerging markets in recent months. Production was [...]
Italian economy still shrinking despite end to euro recession September 10, 2013 THE ITALIAN economy is still contracting, despite very marginal growth in the euro area as a whole, according to revisions to the country’s GDP published by its stats office yesterday. The economy shrank by 0.3 per cent in the second quarter, the same change as seen in the first quarter, dampening hopes that the [...]
EU migrants set to add £60bn to UK GDP by 2050 and help keep borrowing costs down September 10, 2013 EUROPEAN immigrants are more productive than workers born in the UK and will be a valuable addition to the economy, economists said yesterday. Migrants are less likely to claim benefits than native Britons and are more likely to be in work, the Centre for Economics and Business Research and the Harvey Nash Group argued. The [...]
Business services firm of the year September 10, 2013 In an uncertain economy, companies that are willing to try something different – be that a new management team, an innovative business structure or a better use of technology – are the ones that tend to succeed. This category’s nominees live up to the best of these business services. ODGERS BERNDTSON Some of the biggest [...]
