MPs want info on West Coast January 30, 2013 MPs have today urged the Department for Transport to reveal exactly what went wrong during the botched franchising competition for the West Coast Main Line rail route. The transport select committee said it wants to know how much the failed process has cost and hear more details of how department staff ended up with wrong [...]
Route One founder speaks out in support of Bumi board January 30, 2013 IN THE run-up to the board showdown with Nat Rothschild on 21 February, Bumi shareholder and hedge fund Route One spoke out in support of the board yesterday, with founder Ashish Pant telling City A.M. that the coal miner’s proposal for the future of the firm was the “lower-risk option”. US-based Route One, which was [...]
Toymaker Hornby says sales back on track January 30, 2013 HORNBY, the maker of toy trains and Scalextric sets, said yesterday it expects full-year profits to be in line with expectations after issuing a surprise profit warning in September. The company, which is expected to break-even in the year to March 2013, also said that the majority of its 2012 branded goods that it failed [...]
Renishaw helped by China January 30, 2013 Manufacturing group Renishaw has posted an 18 per cent rise in revenues to £174.2m for the last six months of 2012, giving it a 39 per cent jump in adjusted pre-tax profits to £42.3m. The company hailed a rise in orders from China for the boost, which has helped it hike its dividend ten per [...]
Architect Aukett swings into black January 30, 2013 Aukett Fitzroy Robinson, the Aim-listed architect practice, yesterday said it had swung to a profit of £210,000, in spite of wealthy clients’ reluctance to build during a period of economic turbulence. Revenues at the firm, known for restoring Ashdown House in Victoria, rose six per cent to £9.15m.
Strong quarter for Las Vegas Sands January 30, 2013 Casino operator Las Vegas Sands, owned by billionaire Sheldon Adelson, yesterday said fourth-quarter earnings rose 35.8 per cent from a year ago, helped by a strong performance in China. Fourth-quarter net income rose to $434.8m, while earnings per share rose 35.9 per cent to 53 cents from 39 cents a year earlier. Revenues rose 20.9 [...]
Revenue up at Kenmare Resources January 30, 2013 FTSE 250 miner Kenmare Resources yesterday posted a 40 per cent jump in revenue to $234.5m (£148.5m) in 2012, boosted by a 98 per cent increase in the price of ilmenite, which it mines in Mozambique. However, the total amount of metal shipped fell last year to 680,800 tonnes of finished product, compared to 730,400 [...]
Morale in euro area edges up despite Spain January 30, 2013 THE RECESSION in the Eurozone was exposed by more bearish data released yesterday, yet a survey of confidence from Brussels suggested that hopes for a recovery are starting to grow. In crisis-struck Spain the downturn worsened in the final three months of the year, figures showed, while retailers across the single currency area are continuing [...]
House prices in London satellite towns expected to climb in 2013 January 30, 2013 HOUSE prices in commuter towns on the outskirts of London jumped in the final three months of the year, high end estate agent Savills said yesterday. Prices in the so-called “inner commute” area were up 0.5 per cent from October to December, compared to the previous quarter. Residential properties in these areas remained slightly down [...]
Economists warn poor standard of British schools will hurt GDP January 30, 2013 A GROUP of economists will today urge the government to radically improve educational standards at British schools, arguing that reforms are key to the country’s long-term prosperity. The London School of Economics (LSE) growth commission will also hit out at UK governments’ poor record over infrastructure. “Political procrastination and the absence of a strategic framework [...]
