‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
CITY MOVES | WHO’S SWITCHING JOBS March 8, 2012 AFC Energy The developer of low-cost alkaline fuel cell technology has announced the appointment of Sir John Sunderland as non-executive director of the company. Sunderland has spent 40 years in leadership roles, best known as the former chief executive and later as chairman of Cadbury Schweppes. Currently Sunderland is a non-executive director of Barclays Bank, [...]
Greece helps US regain week’s loss March 8, 2012 US stocks rose yesterday, recovering most of the week’s losses, after Greece moved closer to a bond swap with private creditors to avoid a messy default. Earlier in the week, the S&P 500 posted its first big loss for the year on fears of a disorderly default in Greece. Now it is down just 0.3 [...]
Schroders weathers volatile 2011 March 8, 2012 Blue chip investment manager Schroders (SDR.L) said an injection of institutional money kept its net inflows for 2011 positive against a backdrop of wobbly markets that sent many retail clients headed for the exits. In full year earnings for 2011, Schroders said total net inflows were £3.2bn with a £6.8bn net gain in institutional money [...]
Cineworld profit lifted by blockbusters March 8, 2012 British cinema chain Cineworld posted a higher full-year profit helped by a string of popular releases during the Christmas season, and said it expected a strong blockbuster line-up for 2012. The operator of cinema complexes throughout the UK and Ireland said films such as the latest in the Harry Potter, Pirates of the Caribbean and [...]
Store wars fail to dent Ocado sales March 5, 2012 ONLINE grocer Ocado said the industry competition in Britain is the toughest in the world as it reassured its battered investors with a jump in first-quarter sales. The firm, which has seen its share price halve over the last year, posted a 10.9 per cent rise in gross sales to £162.1m but chief financial officer [...]
Petrofac sees profits surge by a quarter March 5, 2012 BRITISH oil services firm Petrofac said it was confident it would win new contracts this year, a must to put it on track to meet its growth targets, after it posted a forecast-beating 25 per cent jump in profit in 2011. Petrofac said it was seeing a strong pipeline of opportunities across both parts of [...]
City recruiter sees UK fees growth slow March 1, 2012 THE CITY jobs market is unlikely to improve this year, according to the chief executive of recruiter Robert Walters, which yesterday posted slowing growth in its UK business. Despite net fee income growing just three per cent in the UK in 2011 compared to 36 per cent the previous year, a strong performance by the [...]
Xchanging profits slump after transition year for outsourcer March 1, 2012 OUTSOURCING firm Xchanging said yesterday it had seen an increase in potential contracts in the first weeks of 2012, as a restructuring implemented last year began to pay off. Xchanging posted an expected 23 per cent fall in adjusted operating profit to £43.2m but aims to return to growth next year. Cost cuts at the [...]
Kazakhmys is hit by rising output costs March 1, 2012 COPPER miner Kazakhmys posted a flat core profit for 2011 as stronger metal prices were offset by an 18 per cent rise in production costs, including soaring wages for skilled workers in Kazakhstan, home to its core operations. The FTSE 100 miner announced a higher-than-expected 27 per cent dividend hike but warned it was unlikely [...]
US stocks return to the highs of 2008 March 1, 2012 US stocks rose yesterday, moving back to 2008 highs, after a jump in bank shares and further upbeat data on the labour market, though sharp gains in oil prices limited the advance. After losses on Wednesday, the rebound took the S&P 500 back above its 1,370 resistance level, which is seen as key to maintaining [...]