Rising defence concerns may boost Chemring September 17, 2014 AEROSPACE and defence technology company Chemring saw its revenues fall in the third quarter, but maintained its financial outlook for the year, as governments reconsider military spending cuts as global instability rises. Chemring, which makes a variety of defence products from ejector seats to plane countermeasure flares against missiles, saw its revenue fall to £77.5m [...]
Smiths takes a tumble after 11pc profit fall September 17, 2014 MULTINATIONAL engineering firm Smiths Group saw its shares fall the most of all companies on the FTSE 100 yesterday, as it revealed its pre-tax profits had plummeted 11 per cent in the last year to £445m. Smiths Group shares fell six per cent yesterday to finish on 1,268p, as the engineering firm said the strength [...]
Flybe cancels $1.3bn jet order as it prefers propeller power for its regional routes September 17, 2014 Budget airline Flybe announced yesterday it had cancelled most of a $1.3bn (£798m) jet order, choosing instead to lease propeller-powered planes as it continues its restructuring to target regional routes. Exeter-based Flybe revealed it would cancel the remaining 20 planes from its $1.3bn order for 35 of the 88-seat E175 jets that it had agreed [...]
Car sales in Europe rise for a record 12 consecutive months September 17, 2014 CAR SALES across Europe have continued to rise for a record twelfth consecutive month, according to data from the European Automobile Manufacturers Association. Total new car registrations across the European Union (EU) and European Free Trade Area (EFTA) hit 701,118 in August, up 1.8 per cent on the same month last year. For the year [...]
QPR’s £6bn Old Oak Common development plan collides with Cargiant’s roadblock September 16, 2014 London football club Queens Park Rangers faces a battle to keep its £6bn development in west London on track, after local landowner Cargiant revealed it was determined to pursue a rival development. QPR kicked off a public consultation earlier this month on a planned redevelopment in the Old Oak Common area, including a new 40,000-seat [...]
UK renewables face perfect storm September 16, 2014 THE ATTRACTIVENESS of the UK market for investment in renewable energy has ranked at a five-year low in a new report from professional services firm EY. The UK slipped to seventh place in the latest quarterly Renewable Energy Attractiveness Index produced by EY, the first time the UK has been that low since December 2009. [...]
Petra sells rare blue diamond from Cullinan mine for $27.6m September 16, 2014 FTSE 250-listed Petra Diamonds yesterday announced it had sold a rare “exceptional” 122.52-carat blue diamond for $27.6m (£16.9m). However, the sale price fell short of many analysts’ expectations of around $35m, though some estimates had ranged from as low as $20m to as high as $50m. The 122-carat diamond was found in June at the [...]
Boeing and SpaceX will share a $6.8bn space taxi Nasa contract September 16, 2014 NASA yesterday revealed Boeing and SpaceX will share a $6.8bn (£4.2bn) contract to fly astronauts to the International Space Station (ISS). Massive aerospace and defence company Boeing will get $4.2bn from Nasa to use its CST-100 capsule to ferry astronauts to the ISS. Meanwhile SpaceX, founded in 2002 by former Paypal entrepreneur and Tesla Motors [...]
Petropavlovsk share price tanks 15 per cent on rights issue to pay bonds September 16, 2014 Shares in Russia-focused gold mining company Petropavlovsk plummeted 15 per cent yesterday on news the indebted miner was seeking a rights issue to placate its senior lender banks and bond holders. A decline in the price of gold in recent years has hit the London-listed miner, which had net debt of $924m (£568m) as of [...]
UBS and Goldman Sachs left red-faced by AngloGold Ashanti $2.1bn float flop September 15, 2014 Proposals for a new London-listed mining spin-off worth £3bn hit the dust yesterday, as shareholders at one of the world’s top gold miners revolted over a $2.1bn (£1.3bn) rights issue key to the massive restructuring. South Africa-based AngloGold Ashanti was forced into a U-turn just five days after it announced it would spin off [...]
