Lamprell issues fourth warning October 3, 2012 ENGINEERING firm Lamprell yesterday issued its fourth profit warning since the spring, sending shares on a downward spiral yesterday. In July, the Middle Eastern-based rig maker warned that delivery of two windfarm vessels had been delayed, which incurred additional costs. A separate construction project has now pushed revenue and profit from this year into next, [...]
Premier splits bread into a separate unit October 3, 2012 PREMIER FOODS said yesterday it had hired Geoff Eaton, the former boss of puddings manufacturer Uniq, as its new chief operating officer while also announcing a further shake-up of its business. Eaton, who left Uniq after it was taken over by Greencore, will replace Tim Kelly, who left the company following a management reshuffle last [...]
Olisa non-exec at Outsourcery October 3, 2012 THE HEAD of boutique technology merchant bank Restoration Partners has been appointed as non-executive chair of cloud-based IT services firm Outsourcery. Ken Olisa, whose technology career spans over 30 years, founded technology merchant bank Interregnum in 1992, leading its listing on AIM in 2000. Olisa is also director of Thomson Reuters, where he is a [...]
Is Lamprell’s profit warning a bad omen for the company? October 3, 2012 ANDREW WHITTOCK | LIBERUM CAPITAL It’s a management change after another profit warning. More cost overruns will lead to a further (unquantified) downgrade to 2012 expectations. John Kennedy states very clearly that there will be changes in the senior management team to make the best of a fundamentally sound business. MALCOLM GRAHAM-WOOD | VSA CAPITAL [...]
Oxford is world’s second best university but rest of UK falls October 3, 2012 THE UNIVERSITY of Oxford is the world’s second best university but other UK institutions are struggling, according to data released last night. The Times Higher Education World University Rankings show Oxford just pipped Harvard and Stanford to take second place on the list. It is joined in the top ten by Cambridge and Imperial College [...]
QE lifts reserves at Threadneedle Street October 3, 2012 THE HUGE expansion of bank deposits at the Bank of England continued in September, data revealed yesterday. The Bank received an extra £10.6bn deposits last month, bringing their total deposits to £262.3bn – with this month’s 4.2 per cent jump capping off a gigantic 110.3 per cent yearly climb. Driving this movement is the quantitative [...]
Our shadow MPC votes 8-1 against changing policy October 3, 2012 ALLISTER HEATH | CITY A.M. “No new quantitative easing and no further cut to rates. The money supply has bounced back – the broad measure is enjoying its fastest six-month rate of growth since 2008, a remarkable turnaround which suggests the Bank doesn’t need to expand the monetary base any further. Current real money growth [...]
Bank expected to sit on hands October 3, 2012 MARKET observers are expecting Bank of England policymakers to hold off on any further monetary policy interventions when they decide on rates and asset purchases today. Many analysts say there will be no rate cut nor any increase in quantitative easing (QE). “[The Monetary Policy Committee (MPC) meeting] is set to be a non-event,” said [...]
Are the UK’s universities at risk of decline? October 3, 2012 LUCY WRIGHT GCS RECRUITMENT Personally, I think no. They are not on the decline. There are still a lot of great universities in the UK and I don’t think anything can take away the great memories you take from being at university. DANIEL IRESON TOM JAMES TAILORING Any government that says we can charge for [...]
UK petrol demand stalls in 2012 October 3, 2012 UK petrol sales continued to slump in the first half of this year, according to data released yesterday, despite falls in prices at the pump. Motorists purchased 376,000 litres less petrol between January and June, compared to the same period last year, the AA said, looking at data published by the Department of Energy and [...]
