Amec beats forecasts but warns revenue growth is set to slow February 14, 2013 SHARES in oil engineer Amec sank yesterday as it warned revenue growth this year would be lower than expected. Strong growth in conventional oil and gas markets would be offset by softening demand in the mining market and reduced oil sands revenue, the FTSE engineer – which designs and builds infrastructure for the oil and [...]
Harvey Nash lifts dividend as profits grow February 13, 2013 GLOBAL specialist recruiter Harvey Nash said yesterday it plans to increase its final dividend by 10 per cent after it posted a slight increase in full-year profits, adding that its full-year results would be ahead of expectations. Pre-tax profit at the firm, which specialises in technology and IT service roles, is expected to rise to [...]
Burberry board change as chief of finance quits February 7, 2013 BURBERRY finance chief Stacey Cartwright is to step down from the luxury group in a management shake-up that will also see the creation of a chief operating officer role. Cartwright, a widely respected industry figure who has been at the fashion house for nine years, is to leave in July “to pursue other interests”, Burberry [...]
Sony to put end to four year loss as yen weakens February 7, 2013 SONY has announced a dramatic fall in losses, and said it expects to post an annual profit for the first time since 2008 later this year. A combination of a weak yen and cost cutting meant losses in the final three months of 2012 were down to ¥10.7bn (£72.8m), compared with ¥158.4bn in the same [...]
Burberry management reshuffle weighs on FTSE 100 February 7, 2013 The blue chip index was broadly flat in early deals, weighed down by luxury brand Burberry. This morning it announced a management shake-up, creating a new chief operating officer role and replacing its chief financial officer. Shares dropped 3.8 per cent in early deals. Investment manager Hargreaves Lansdown fell 2.25 per cent, after rallying more [...]
Why you should take economic statistics with a bucket of salt January 25, 2013 TODAY is GDP day, when the Office for National Statistics releases its first, early and ultra-preliminary estimate of the growth of the UK economy. As ever, the media, the markets and the political classes will massively over-react to whatever gross domestic product (GDP) number is released, good or bad. I would urge everybody not to [...]
Why you should take economic statistics with a bucket of salt January 24, 2013 TODAY is GDP day, when the Office for National Statistics releases its first, early and ultra-preliminary estimate of the growth of the UK economy. As ever, the media, the markets and the political classes will massively over-react to whatever gross domestic product (GDP) number is released, good or bad. I would urge everybody not to [...]
Microsoft profit dips in spite of new Windows 8 January 24, 2013 COMPUTING giant Microsoft yesterday posted a quarterly drop in profits, as slow sales of its Office software dragged down a positive start for its freshly minted Windows 8 system. Sales rose three per cent overall to $21.5bn (£13.6bn) for the three months ending December 2012, the company said last night, but profits slid to $6.4bn, [...]
Empty offices look bleak now but are also a sign of optimism January 24, 2013 THE City is changing, and not just because of the skyscrapers about to reinvent its skyline. The firms that are taking office space are changing as well. The trend for insurers to cluster in EC3 around the Lloyd’s building is well-established. Equally striking has been the lack of demand in Cannon Place and the Walbrook, [...]
Resolution taps ex-Stan Chart boss to be chair January 21, 2013 FORMER Standard Chartered chief executive Sir Malcolm Williamson is set to become chairman of insurance buy-out vehicle Resolution, it was announced yesterday. Williamson, 73, will succeed Mike Biggs, who is stepping down as part of a plan to streamline the complicated executive structure at the FTSE 100 group, which was founded by industry pioneer Clive Cowdery in [...]