Data shows US jobs and activity are growing slowly but steadily September 6, 2012 DATA APPEARED to support President Obama’s claim that the economy is recovering yesterday, as two employment measures showed marked improvement, and non-manufacturing industries were shown to be expanding. The non-manufacturing sector reported growth for the 32nd consecutive month, jumping to 53.7 on the headline ISM index yesterday, up from 52.6 in July – a score [...]
Households get to work in England September 6, 2012 Every region of England saw a decline in the number of households where no one has a job, the Office for National Statistics revealed yesterday. London was up with the frontrunners, with its proportion of households where no one works declining from 18.6 per cent in 2011 to 16.8 per cent this year. Yet bigger [...]
Farmland driven up by food prices September 6, 2012 Demand for farmland continues to be strong, and drive rising prices for rural land, a survey from RICS economics and the RAC claimed today. They believe the boom is driven by high and rising commodity prices.
Riksbank drops rate 0.25 per cent September 6, 2012 Sweden’s central bank, the Riksbank, decided to cut interest rates in yesterday’s meeting, against a consensus expectation that rates would remain where they were. The rate dropped 25 basis points to 1.25 per cent, on worries about the global outlook, combined with low domestic inflation and potential exchange rate issues due to the recent appreciation [...]
Shares plunge at May Gurney after warning September 6, 2012 SHARES in construction firm May Gurney plunged by 41 per cent yesterday, as the firm issued a profit warning. May Gurney’s chief executive, Phillip Fellowes-Prynne, also announced he was leaving with immediate effect, after spending four years with the firm. Willie MacDiarmid, currently non-executive director, will assume the role of chief executive officer in the [...]
Costain and Balfour Beatty sign £288m nuclear Magnox project September 6, 2012 CONSTRUCTION firms Costain and Balfour Beatty yesterday won a joint contract across the UK’s Magnox nuclear power plants. The contract, worth £288m, is for the decommission of all 10 Magnox-operated sites on behalf of the Nuclear Decommissioning Authority (NDA). The NDA, a government body, has been charged with decommissioning and cleaning up civil nuclear sites [...]
Honda invests £267m in UK plant September 6, 2012 Japanese carmaker Honda is giving its Swindon plant a £267m cash boost to replace robotics and upgrade production methods, as part of the firm’s plans to ramp up production. The auto giant’s announcement yesterday is a welcome boost for the Wiltshire-based factory, which has seen funding reduced in recent years due to poor sales. Part [...]
Mediterranean divests Italy assets September 6, 2012 Mediterranean Oil & Gas yesterday said it would divest its non-core exploration and production assets in Italy, as they are no longer considered part of the growth strategy for gas production. Mediterranean will sell 13 gas assets to Canoel International Energy Limited (CIL) for €100m (£62m). The gas production that will be divested stands at [...]
City Moves | Who’s switching Jobs September 6, 2012 BNP Paribas Real Estate Mike Chadburn has been appointed senior director of international investment at the real estate division of BNP Paribas. He was previously the UK partner to Azimuth Global Partners, where he sourced and acquired UK assets for Malaysian and Korean investors. Chadburn has also previously worked as director of Central London acquisitions [...]
Best of the Brokers September 6, 2012 BLAVOD N+1 Brewin has maintained its “buy” rating and upped its target price from 3p to 3.12p on Blavod Wines & Spirits following a trading update, as well as upgrading its forecasts. The broker says that the arrival of a new chairman, Don Goulding, should act as a catalyst to reverse a prolonged period of [...]
