Rolls Royce wins £111m contract to power Kazakhstan oil pipeline September 10, 2013 Good news for Rolls Royce – They've won a $175m (£111m) contract to power a pipeline running through Kazakhstan's Line C gas pipeline (release). Rolls-Royce will supply AGP, a joint venture between Kazakhstan's KazMunaiGaz and China's National Petroleum Corporation (CNPC), with twelve RB211 gas turbine driven pipeline compressor units which will operate at four compressor [...]
Costa and Premier Inn see owner Whitbread achieve double digit sales growth September 10, 2013 Hotel and restaurant group Whitbread has seen like-for-like sales grow by 2.6 per cent in the 24 weeks to 15 August (release). In terms of total sales, a 12.4 per cent increase in the same period. These results are weaker than analysts had hoped for, with Costa achieving just 3.0 per cent like-for-like growth in [...]
China goes two for two: Higher industrial production and retail sales data September 10, 2013 Fears of a Chinese slowdown allayed by some stronger data this morning. Industrial production rose by 10.4 per cent in the year to August, from 9.7 per cent last month. That beats analyst estimates of a 9.9 per cent rise. Retail sales also looking good, with a 13.4 per cent jump in the same period. [...]
US opens up: Dow touches 15,000 and NASDAQ 100 hits November 2000 high September 9, 2013 US markets are off to a good start, with the Dow Jones touching 15,000 and the NASDAQ 100 has hitting its November 2000 high. The latter, comprised of the 100 largest non-financial companies listed on the NASDAQ, is weighted on the market capitalisations of its constituents.
World’s top 300 pension funds see total assets up by 10 per cent in 2012 September 9, 2013 New research has shown that the largest 300 pension funds have seen their total assets grow by almost 10 per cent in 2012, compared to just two per cent growth in the year before. The study, conducted by Pensions & Investments and Towers Watson research found that those top 300 funds now represent over 47 [...]
Icahn is out: Compares Dell board to a dictatorship as he gives up the chase September 9, 2013 Activist investor Carl Icahn's letter is now out (as pre-announced on Twitter) and he's out too. After several failed attempts to take tech giant Dell, Icahn is giving up the chase. But he does say: I continue to believe that the price being paid by Michael Dell/Silver Lake to purchase our company greatly undervalues it, [...]
Activist investor Icahn uses Twitter to announce new letter to Dell shareholders September 9, 2013 Activist investor Carl Icahn still hasn't got bored of Twitter. After adding $14bn to Apple's value with a single Tweet he's back on old ground, talking Dell. We intend to release a letter to all Dell shareholders shortly. — Carl Icahn (@Carl_C_Icahn) September 9, 2013 That's Icahn's 17th Tweet, and follows multiple takeover rejections [...]
Koch brothers snap up electronics manufacturer Molex for £4.6bn September 9, 2013 The electronic components manufacturer Molex has just announced that it's being bought by Koch Industries for $7.2bn (£4.6bn) (release). That value is a 42 per cent premium on Molex's closing price on Friday. Koch Industries, owned by brothers David (pictured) and Charles Koch, take the sixth and seventh spots on the Forbes rich list – [...]
Canadian building permits see huge rebound in July September 9, 2013 Candian building permits just smashed expectations in July. Rising by 20.7 per cent in a single month, that dwarves estimates of a 1.0 per cent rise. Of course, this follows a huge drop in June, when permits fell by 10.6 per cent (revised from -10.3 per cent). The increase in July came mainly from higher [...]
Doubts that Greece economy has reached a turning point despite higher GDP in second quarter September 9, 2013 Despite improvements to Greek GDP last Friday showing that the economy contracted by just 3.8 per cent compared to a year earlier (down from a previous estimate of a 4.6 per cent contraction), the country may have not have reached a turning point. Ben May, European economist, Capital Economics: No seasonally adjusted data are published, [...]
