BOLLYWOOD BOOM KEEPS EROS ON TRACK August 11, 2011 BOLLYWOOD film group Eros International said yesterday that it was trading in line with market expectations, and that operating cash flows remain strong ahead of several upcoming releases. Earnings before tax at the group rose 47.4 per cent to Rs369.2m (£5m), and the firm has several films in the pipeline including Rana (above).
Supply chain issues push profits lower for computer firm Psion August 11, 2011 Mobile computing services provider Psion yesterday reported a first-half loss and lower revenue, hurt by supply chain issues. The company, which provides a range of “rugged” hand-held computers, said it is well-positioned to deliver profitable growth in the second half. Psion reported a pre-tax loss of £5.3m for the six months, compared with a profit [...]
GEORGE OSBORNE’S CAREER CHANGE AS BARCLAYS COMES CALLING August 11, 2011 WHAT’S this? George Osborne is moving on from the Treasury to become a relationship director in the Finance and Brokers team at Barclays Corporate? “Osborne’s role will include managing a portfolio of mid to large-size finance and broker clients, and working with the credit team to ensure the effective risk management of these clients,” declared [...]
London 2012 IMAGE OF THE WEEK August 11, 2011 Vanuatu (pop. 239,788) takes on China (pop. 1.3bn) in an Olympic test event – the Visa FIVB Beach Volleyball International. Xue/Zhang Xi (CHN) vs Elwin/Matauatu (VAN), 2-1 (18-21, 21-19, 15-10). In the run-up to the 2012 Olympic and Paralympic Games, City A.M. is publishing its Olympic Image of the Week. If you have a shot [...]
CITY MOVES | WHO’S SWITCHING JOBS August 11, 2011 More Than The insurance group has hired Janet Connor as its new managing director. Connor most recently worked at over-50s insurance provider RIAS, where she has served as managing director since 2006. Connor has also worked at Legal & General, J Sainsbury and Abbey National, where she was a director in charge of the Abbey [...]
Morgan Crucible ups dividend as revenues increase August 11, 2011 INDUSTRIAL materials group Morgan Crucible yesterday upped its interim dividend by 20 per cent, as revenues at the company rose to £560m. Underlying operating profit at the group increased by 49 per cent to £71.5m, from £48m last year, as revenues jumped 11 per cent from £501.1m. Morgan Crucible said it was entering the second [...]
Cobham wins MoD contract August 11, 2011 British defence contractor Cobham yesterday announced that it had won a £10m four-year contract with the UK Ministry of Defence for the provision of a flight inspection service. The deal provides for the calibration of navigation and landing aids at all Ministry of Defence airfields worldwide.
Network Rail looks to cut costs August 11, 2011 Network Rail has taken on six firms including Morgan Sindall and Balfour Beatty to help save money on its rail upgrade works. The rail operator said improvements will take weeks rather than months under the new national plan, and costs on the £750m scheme will be cut by up to 20 per cent.
BEST OF THE BROKERS August 11, 2011 ST JAMES’S PLACE Morgan Stanley maintains the wealth management company’s “equal-weight” rating, with a 12-month target price of 408p. The move comes following solid interim results, with shares having performed very strongly relative to the broker’s year to date. With a focus on low capital intensity unit-linked products, no long-term debt and little on-balance sheet [...]
Volatile FTSE ends on a high August 11, 2011 AFTER another rollercoaster session, fuelled by rumours about French banks, sovereign debt, and a possible short-selling ban in Europe, Britain’s leading share index ended with triple-digit gains yesterday. “We’re just awash with rumours, dragging us from pillar to post… We’re calling propagators of such stuff the ‘Pinstriped Looters’. They come in, smash the market with [...]
