Russia’s state-owned power grid MRSK will list some stock in London this week December 6, 2011 RUSSIAN power grid company MRSK is scheduled to list its shares in London this week, a move it hopes will boost the liquidity of its stock and enable it to raise funds in the future, a company spokesperson said yesterday. The technical listing, in which no money is raised, will see MRSK list 25 per [...]
Profits lift at William Hill’s gaming target Probability December 6, 2011 REVENUES at potential William Hill takeover target Probability have soared by 41 per cent, though the company still posted a loss for the six months to September. Mobile gaming firm Probability, which runs the Lady Luck mobile casino brand, said yesterday its revenues had risen to £3.3m from £2.3m a year ago, and that cash [...]
Yum expects double-digit growth December 5, 2011 Yum Brands, the parent of the KFC, Taco Bell and Pizza Hut fast-food chains, yesterday raised its 2011 profit forecast and said it expects earnings per share to grow at least 10 per cent in 2012, led by continued sales and profit growth in China. Yum has nearly 4,200 restaurants in China, its top market [...]
MetLife misses expectations December 5, 2011 MetLife expects operating earnings to rise as much as seven per cent in 2012, the largest life insurer in the United States said yesterday, though its forecasts for the fourth quarter and full-year 2011 were below expectations. MetLife said it expects 2011 operating earnings of $5.2bn to $5.3bn (£3.3bn to £3.4bn); and 2012 operating earnings [...]
Toyota to give forecast on Friday December 5, 2011 Toyota Motors will announce an earnings forecast on Friday for the financial year to March 2012, as it steadily restores production disrupted by Thai flooding that forced it to withdraw its outlook a month earlier. Toyota’s output has returned to normal levels at most of its production sites worldwide, although Thai and South African plants [...]
CITY MOVES | WHO’S SWITCHING JOBS December 5, 2011 Hastings Direct Liz Latter has been appointed as head of insurer development at the firm. She will work with Adrian Parry, head of Hastings’ panel development activities for the last two years, who will step back from his full-time commitments in early 2012 to pursue other commitments, but will continue to support the business. Latter [...]
BEST OF THE BROKERS December 5, 2011 PETRA DIAMONDS Goldman Sachs initiates coverage of the Africa-focused miner with a “buy” rating and a target price of 200p, seeing its recent underperformance as a compelling entry point. The broker sees Petra as having a strong growth profile, and says the diamond market is set to enter a period of prolonged tightness. Goldman forecasts [...]
FTSE hits a five-week high on hope of a euro debt plan December 5, 2011 BRITAIN’S FTSE 100 hit a five-week closing high yesterday with optimism rising that politicians can finally agree a deal to solve its debt crisis in a crunch week for the Eurozone. European Union leaders, urged on anxiously by the United States, are seeking agreement on a convincing rescue plan that has eluded them for two [...]
US stocks drop on S&P rate warning December 5, 2011 HOPES that policymakers are working toward a solution to the debt crisis lifted global shares yesterday, but a late-day credit warning from Standard & Poor’s underscored what was at stake. Reports that the warning was coming caused US stocks to cut gains in the afternoon, while the euro retreated. S&P said after the closing bell [...]
Opening up the Oyster card beats charging ahead with TfL’s expensive alternative December 5, 2011 LAST week the London Assembly Transport Committee (LATC) released its report on the future of ticketing in the capital. No big deal, you might think – if you assume the Oyster card seems to function rather well. The heart of the problem is that Oyster is not only far too expensive, but has become so [...]
