Dixons boss set to be chief exec if deal happens February 24, 2014 DIXONS Retail chief executive Sebastian James is expected to head one of the high street’s biggest chains if talks with Carphone Warehouse lead to a merger, with Sir Charles Dunstone expected to become chairman. The two companies yesterday confirmed “very preliminary” merger talks that could create an electricals and mobile phone giant with a market [...]
Euro prices fall at record pace during January February 24, 2014 CONSUMER prices in the Eurozone fell at the fastest pace ever recorded in a single month between December and January, though official statistics showed the annual growth rate holding steady at 0.8 per cent. The consumer price index (CPI) is far below the European Central Bank (ECB) target of just below two per cent. Though [...]
City Moves for 25 February 2014 | Who’s switching jobs February 24, 2014 Investec Asset Finance The asset finance business has announced the appointment of Alan Carter to its middle ticket team. He was most recently at Aldermore Asset Finance, where he was head of wholesale finance. Prior to that, Carter held senior positions at Fortis and Lombard. Electra Partners The private equity fund manager has appointed Nicola [...]
Petrofac shares touch 3-month high on $1.2bn BP contract win February 20, 2014 PETROFAC’S shares surged to a three-month high yesterday after the oil and gas services provider said it had secured a $1.2bn (£780m) contract with BP. FTSE 100-listed Petrofac said it would be working on the Khazzan gas project in Oman for BP – the largest new upstream project in the region. The scope of the [...]
City Moves for 21 February 2014 | Who’s switching jobs February 20, 2014 Jones Lang LaSalle Christopher Shead has joined the real estate services firm as a director in its renewable energy capital team. He was previously at FIM Services, where he led its renewable investment division. Before that, Shead worked in the global climate and renewables business at E.On. Nomura The investment bank has appointed David Hague as [...]
Pan African revenues rise 71pc February 19, 2014 Pan African Resources, the Aim-listed miner, yesterday unveiled a 70.9 per cent rise in half-year revenue to £84.6m for the six months to December 2013. The company said that the amount of gold sold had increased by 123 per cent to 100,172 ounces, while its all in cash costs were $1,044 per ounce. “[The] results [...]
Analyst Views: Did IHG’s results yesterday justify the slide in share price? February 18, 2014 WYN ELLIS | NUMISThe numbers themselves are fine and are slightly above consensus estimates. IHG talked about some headwinds in profit terms and increased capital expenditure, which was a bit disappointing and some were expecting a return of cash to shareholders but this is something that is likely to be announced later on in the [...]
Gold demand fell 15pc in 2013 on US recovery February 18, 2014 OVERALL gold demand slid by 15 per cent in 2013, despite 21 per cent growth in demand from consumers, according to a new report by the World Gold Council yesterday. Interest from the retail market was offset by large-scale outflows from exchange traded funds (ETFs) as confidence in the US economy improved, the report said. [...]
City Moves for 17 February 2014 | Who’s switching jobs February 17, 2014 Baker Botts The law firm has announced the appointment of Robin Mizrahi as a senior partner in its global projects group in London. He specialises in project finance, energy and infrastructure in emerging markets, and joins from Chadbourne & Parke. Investec Asset Finance Andrew Woodward has joined Investec Asset Finance as head of materials handling. [...]
Lloyds shares tumble despite return to profit February 13, 2014 LLOYDS declared a profit for 2013 yesterday, indicating the five-year struggle to turn the bank around is complete. The bank is now ready to return fully to the private sector, and wants to start paying dividends from the second half of this year. However, shares fell as Lloyds revealed further provisions to pay for legal [...]