National Grid systems to be a legally separate division… but will remain a subsidiary January 12, 2017 National Grid investors will breathe a sigh of relief as it has avoided being split up by the government. The business, energy, and industrial strategy department and regulator Ofgem today revealed plans for the the electricity system operator to be separated into its own distinct legal entity from 2019. But authorities stopped short of spinning [...]
Hays finance chief says Brexit uncertainty makes hiring overseas a logical choice for City firms January 12, 2017 The UK’s largest recruitment firm said City firms would choose job creation in Germany or France ahead of Britain while Brexit uncertainty remains. Hays revealed trading in the UK, which represents around a quarter of its global operations, had fallen for the second quarter in a row, down 10 per cent on a like-for-like basis [...]
Spire Healthcare shares plummet as delays at St Anthony’s lead to flat outlook January 12, 2017 Spire Healthcare shares fell nearly nine per cent after the firm announced delays in the redevelopment of one its flagship hospitals. The figures Excluding the problems at St Anthony's, Spire said in its trading update that performance would be at the "top end" of revenue and earnings guidance for 2016. Read more: Spire Healthcare boss to [...]
Premier Oil hits improved production targets and edges closer to agreeing refinancing January 12, 2017 Premier Oil shares nudged up around 0.5 per cent after revealing it had hit improved production targets and was "nearing completion" of its drawn-out debt refinancing. Despite working through a painful financial restructuring with lenders, Premier Oil reached record production levels, hitting 71,400 barrels per day – in line with improved targets. Revenue, however, fell [...]
JD Sports smashes expectations January 12, 2017 JD Sports shares jumped over seven per cent after the sportswear retailer smashing market expectations on full year numbers. The self-proclaimed "King of Trainers" said profit before tax and exceptional items will be be up to 15 per cent more than the £200m anticipated by analysts. After revealing 10 per cent sales growth at the half [...]
Green bond supply will stagnate in 2017 with no repeat of Chinese expansion January 11, 2017 The rapid increase in green investment bonds will grind to a halt in 2017 as Chinese issuers abstain from providing bumper supply to the market. The amount of green investment bonds issued globally in 2016 doubled to $90m, but such an increase will not be replicated this year, an HSBC research paper outlined. Read more: Government comes under fire for [...]
Small business leaders: We’ll do well and we’re more confident in the UK… but the government is letting us down January 11, 2017 Britain's small businesses are increasingly confident about the UK's economic prospects, but are concerned the government is neglecting the importance of private enterprise, according to research released today. Accountancy firm Smith & Williamson revealed the results of its quarterly Enterprise Index, which showed the owners of small and medium-sized enterprises were five points more optimistic that [...]
Who owns the UK’s railways? Well, not British firms in many cases January 11, 2017 The sale of the C2C rail franchise – labelled by consumer groups as the best network into London – has once again sparked concerns that Britain's railways are being taken over by foreign, often state-owned, firms. National Express' sale of its final franchise in the UK was part of the FTSE 250 firm's strategy to target [...]
Interserve shares jump despite poor UK construction performance January 11, 2017 Shares in support services firm Interserve jumped over seven per cent this morning after the firm revealed it was on track to hit its full year numbers. It wasn't all good news for the firm though as it said the figures included "a disappointing performance in UK construction". International operations saved the day, Interserve described its [...]
National Express flogs C2C network to Italian firm keen to get foothold in UK rail market January 11, 2017 Transport giant National Express has exited the UK rail market, flogging its final franchise to an Italian firm with grand designs to take control of Britain's rail networks. The C2C franchise, which operates trains in East London and South Essex across 26 stations, has been sold to Trenitalia in a deal worth £70m. Read more: National Express [...]
