Analyst Views | Is Greggs taking enough measures to offset negative sales? October 11, 2012 DARREN SHIRLEY SHORE CAPITAL Despite ongoing challenges from the UK consumer, we continue to believe that Greggs’ medium-term multi-pronged growth strategy has considerable merit, with new stores, wholesaling and franchises offering long-term growth potential, underpinned by continued investment in manufacturing infrastructure. PHILIP DORGAN PANMURE GORDON Today’s statement is slightly disappointing, given the lack of a [...]
Rangers shoot for £20m junior market offering October 11, 2012 TROUBLED Scottish football club Rangers yesterday announced plans to raise up to £20m through a listing on London’s Alternative Investment Market as the team’s new owners seek to rebuild the business. Rangers has endured a disastrous year, with the club – who have won the league a record 54 times – declared insolvent and forced to restart life [...]
Direct Line’s success is just what the bankers ordered October 11, 2012 D IRECT Line was always going to be a major test for the London listings market. Finally, it has got away, so there will be relief all around about that, even though the insurance group will not jump straight into the prestigious FTSE 100 as many at the outset had hoped for. There was a [...]
Financial feast at the Mansion House October 11, 2012 TO Mansion House last night, the palatial pad of the Lord Mayor of the City of London, where the crème de la crème of Britain’s financial services sector raised a glass in toast to the industry. This year was the fourth and final time Lord Turner, chairman of the Financial Services Authority, addressed fellow diners. [...]
Property pirates go hunting for buried treasure in Broadgate October 11, 2012 YESTERDAY lunchtime 36 property firms across the City rallied the troops to brave the gloomy weather and don costumes, all in the name of organised charity fun. 180 people from the property industry dashed around the Square Mile, following clues and taking in some of the City’s famous landmarks, to raise money for LandAid. Peter [...]
Ashmore assets are boosted by fresh inflows October 11, 2012 ASHMORE Group said yesterday its assets under management rose 6.8 per cent in the three months to the end of September as rising markets and fresh inflows from Asian and Middle Eastern government-related investors boosted the emerging markets-focused manager. In a trading update released yesterday morning, Ashmore said the money it manages on behalf of [...]
Shell sued by African villagers over oil pollution in Niger Delta October 11, 2012 FOUR Nigerian villagers took Anglo-Dutch oil giant Shell to court yesterday, accusing the company of polluting waterways and land around their homes. The villagers, together with campaign group Friends of the Earth, launched their claim in a civil court in The Hague, where Shell has its joint global headquarters. They are suing for unspecified damages. [...]
BP is under fire in Azerbaijan over its production revenues October 11, 2012 AZERBAIJAN has accused BP of making “false promises” on oil output and said the state had missed out on $8bn of potential revenues from what is one of the company’s biggest projects in the world. President Ilham Aliyev said he would take “serious measures” – threatening a third battle front for BP as it seeks [...]
London Metal Exchange looks at extension to outcry trading October 11, 2012 THE LONDON Metal Exchange (LME) – which boasts one of the world’s few remaining open-outcry pits – is considering adding a third round of daily trading, according to reports yesterday. The additional early morning period would allow the exchange to target Asian markets and could require a physical expansion in the size of the trading ring, according [...]
Air Partners sees dive in profits as demand for private jets slows October 11, 2012 JET charter firm Air Partner yesterday reported falling revenues and profits in the year to the end of July due to “challenging trading conditions and a tough comparable period”. Total revenues fell by almost 20 per cent to £227.6m, and pre-tax profits dropped from £5.3m to £4.1m. Air Partner said a flurry of business in [...]
