Temp jobs up at City firms July 25, 2013 FINANCIAL firms are taking on more short term workers, in an encouraging sign for jobs activity in the sector, according to the boss of the world’s second-biggest recruiter. “Activity in the City is not for permanent placements, but there are a lot of projects going on. We usually see that over time resulting in permanent [...]
Protesters stop Cuadrilla plans July 25, 2013 ANTI-FRACKING protesters in West Sussex have blocked the entrance to the site where shale gas explorer Cuadrilla plans to start drilling on Monday. The firm has also repaired a lorry after its air brakes were cut. It is understood that Cuadrilla is talking with police to resolve the situation and is unsure whether it will [...]
SSE slams government policy for holding up investment July 25, 2013 BIG SIX energy supplier SSE yesterday criticised government reforms for being delayed and vague, warning they would slow down investment decisions. Although the coalition outlined its energy market reform programme last month to address a shortage in capacity, the plans will not be implemented until 2018-19. SSE said the changes would “not address the risk [...]
SFO’s tip-off service nets no investigations July 25, 2013 THE SERIOUS Fraud Office has had its hands full in the last year. From Libor to ENRC to GSK, a dizzying array of acronyms has built up in its in-tray. So it’s laudable that the SFO took the time this week to email in about a story City A.M. ran in March on the organisation’s [...]
Canary Wharf gets gleeful for Random Acts dance festival July 25, 2013 BALLET, contemporary, Irish and African dance and jazz performers have added a touch of glee to the gangways of Canary Wharf this week. The “Random Acts” are not an impromptu expression of joy at the market’s recent rallies, but part of the City of London Festival, which was spurred on by enthusiasm for cultural activity inspired [...]
Britvic and AG Barr drinks fly off the shelves July 25, 2013 SOFT drink makers AG Barr and Britvic reported sparkling sales yesterday thanks to their marketing campaigns and hotter weather boosting demand. Britvic, which this month walked away from merger talks with its smaller Scottish rival AG Barr despite an improved offer, said third quarter revenues rose four per cent to £316.3m. Simon Litherland, who took [...]
Wet European spring dampens SABMiller July 25, 2013 SABMILLER, the world’s second-largest beer maker, suffered a decline in lager sales during April to June, blaming Europe’s cold and damp spring earlier in the period and a cooler build-up to summer in the United States. The company, which derives two-thirds of its sales from emerging markets, said its lager volumes declined by one per [...]
Reed Elsevier triples 2013 share buyback July 25, 2013 PUBLISHING and events group Reed Elsevier beat forecasts for first-half earnings yesterday and reiterated its full-year outlook, saying it expected further revenue and profit growth this year. The group reported underlying sales growth of five per cent. In Europe, underlying sales were down 0.8 per cent. The Anglo-Dutch publisher said underlying adjusted operating profit grew [...]
General Motors tops forecasts July 25, 2013 GENERAL Motors posted a higher-than-expected quarterly profit yesterday as the US carmaker narrowed its losses in Europe on aggressive cost-cutting and raised prices in North America. Net income in the second quarter fell to $1.2bn from $1.5bn a year earlier, hurt by higher costs related to the rollout of redesigned trucks and losses in Asia [...]
Shire’s stock at record high as revenue rebound ups growth July 25, 2013 BRITISH drugmaker Shire has raised its earnings outlook after product sales rebounded in the second quarter, marking the success of its efforts to reap profits from its specialist drug portfolio. Having missed market sales forecasts in May, Shire has returned to higher growth and now expects earnings to increase by a double-digit rate in 2013. [...]
