Arcapita ends AssetCo talks September 16, 2011 THE FUTURE of AssetCo was uncertain yesterday after the troubled fire engine supplier said Arcapita Bank had pulled out of takeover talks. Bahraini-based Arcapita said yesterday it has “been unable to reach satisfactory agreement with the Company’s existing lenders and preference shareholders” and so would not be making an offer for AssetCo. The two firms [...]
Kier sees lift in profits and ups dividend September 16, 2011 CONSTRUCTION firm Kier’s shares rose almost six per cent yesterday after it posted better than expected profits, helped by a shift away from public sector work as budgets come under pressure. Britain’s third largest contractor said underlying pre-tax profits for the year to June rose 24 per cent to £68.9m compared with £55.5m the previous [...]
Gatwick Express faces strike action September 16, 2011 GATWICK Express passengers could be facing ongoing disruptions, after it was announced that rail workers on the line are to be balloted for industrial action in response to the threat of job cuts. The Rail, Maritime and Transport (RMT) union has confirmed that it is prepared to lead its members to strike action in response [...]
Rio Tinto boosts iron ore expansion in Australia September 16, 2011 RIO TINTO will spend a further $833m (£527m) to speed up its iron ore expansion plans in Western Australia’s Pilbara region, the mining giant announced yesterday. The extra spending adds to a $15bn-plus project to increase its capacity in the mineral-rich region by 50 per cent to 330m tonnes a year by 2015. The Anglo-Australian [...]
Cobham swoops on US antenna firm for $126m September 16, 2011 AEROSPACE and defence company Cobham has agreed to buy US satellite antenna manufacturer Trivec-Avant Corporation in a deal worth $126m (£80m). Cobham said the all-cash deal, which includes possible bonus payments of up to $18m between 2013 and 2014, is expected to be completed in the fourth quarter of this year. “The acquisition of Trivec-Avant [...]
Max Petroleum to start drilling at Kazakh well September 16, 2011 SHARES in Kazakhstan-focused Max Petroleum edged up yesterday after it announced that it expects to start drilling a well on the Emba B prospect by the end of October at the latest. Max closed up 1.67 per cent to 15.25p on the alternative investment market last night as it announced it is preparing to receive [...]
Goldman Sachs adds brokership September 16, 2011 Investment bank Goldman Sachs won another broking mandate yesterday. CSR, the FTSE 250-listed provider of silicon and software solutions, appointed Goldman Sachs as its new joint broker alongside JP Morgan Cazenove. Since hiring Phil Shelley from UBS, Goldman Sachs has been pursuing new clients both within the FTSE 100 and just outside it.
Pursuit Dynamics wins contract September 16, 2011 Fluid technology firm Pursuit Dynamics said yesterday that it had won a £400,000 contract to supply its PDX food system to one of Europe’s leading food producers, sending its shares up by more than seven per cent. The company said that revenue from the venture would be seen in stages over the next three months, [...]
Handelsbanken September 16, 2011 In a table dated 13 September, we said that the five year senior CDS figure for Handelsbanken was 194.15 basis points. This was incorrect. Handelsbanken’s five year CDS figures on 8 and 12 September were 108bps and 110bps respectively, meaning it has amongst the lowest of the major banks. We would like to apologise for [...]
Shoppers lose faith in MPC’s hold on prices September 16, 2011 THE BANK of England (BoE) may expect consumer price index (CPI) inflation to come down next year, but consumers themselves do not agree – and are increasingly dissatisfied with the Bank’s ability to control prices. Inflation of 4.2 per cent over the next year is expected according to an average of the survey’s responses, taken [...]
