Wall Street tanks as tech stocks drag down market February 25, 2021 Wall Street has tanked today, with technology stocks in particularly dragging down the markets. The S&P 500 was down more than 2 per cent at one point, and retreating technology stocks dragged the Nasdaq down more than 3 per cent, as the benchmark 10-year note yields surged above 1.6 per cent to the highest in [...]
Opinion: We need to stop calling it ‘NHS’ Test and Trace February 21, 2021 Who runs NHS Test and Trace? “Surely the NHS?”, you might say. Not according to NHS England’s boss, Sir Simon Stevens. When quizzed by the Health and Science Committee last month, Stevens said: “I can’t comment specifically on Test and Trace because that is run by the Department of Health and Social Care rather than [...]
Storage firm Safestore hails ‘excellent’ UK trading February 16, 2021 Safestore, the self-storage firm, said full-year earnings are likely to hit the top end of expectations following strong trading in the first quarter, driven by an “excellent” UK result. Group revenue was up 9.8 per cent and like-for-like sales were up 6.6 per cent, with a 8.3 per cent surge in UK sales. Occupancy increased [...]
Serco agrees on $295m acquisition of WBB February 16, 2021 International service company Serco has today announced an agreement to acquire Whitney, Bradley & Brown (WBB) for $295m. The purchase, which is expected to close in the second quarter of 2021, will strengthen Serco’s position providing programme management services to the Department of Defence. This has been a critical growth area for the company in [...]
The Bribery Act: Ten years on January 11, 2021 This year marks ten years since the Bribery Act came into force. It was enacted in 2010 but was not active until the following year. In May 2019 a House of Lords Select Committee of which I was a member scrutinised the Bribery Act and concluded that overall it was working well. The immediate reaction from businessmen at the outset when the Bribery Bill was [...]
Informa profit plunges as pandemic shutters events January 6, 2021 Events group Informa forecast a plunge in profit in 2020 as the coronavirus pandemic brought the events industry to its knees. The FTSE 100 firm, which is the world’s largest exhibitions group, said it expected adjusted operating profit in the range of £250 and £270m. This is down from £933m in 2019. Revenue is set [...]
Industrial services firm Altrad hails ‘robust’ year December 17, 2020 Industrial services giant Altrad said that it was optimistic about its future prospects after a “robust” financial performance in 2020. The Montpellier-based group, which provides services for the oil, gas, and petrochemicals sectors, said that it had managed to maintain profitability despite intense pressure from the pandemic. Over the year revenue dropped a sixth, from [...]
Serco set for profit bump on back of Covid contracts December 17, 2020 Outsourcing giant Serco today said that it was on course for a 35 per cent jump in profit this year thanks to its role in supplying key government coronavirus programmes. The FTSE 250 group said that profit would come in at £160m-£165m for the year, while revenue is also set to increase 19 per cent [...]
The week ahead, 14-18 December: Shaftesbury, SSP, Petrofac, and interest rates December 13, 2020 All eyes will be fixed firmly on Brussels this week, as businesses across the country hold their breath to see if the UK can finally reach a deal with the EU. With markets on edge as they await the outcome of the talks, there’s little to distract traders, with only a handful of firms reporting [...]
Forget chlorinated chicken – put satellites ‘at the centre’ of a UK-US trade deal, says Raytheon UK space boss December 1, 2020 Defence firm Raytheon has called for the space industry to be at the forefront of any future trade deal between the UK and the US, saying the sector can help the government fulfil its “levelling-up” agenda. Speaking to City A.M., the firm’s UK managing director for space and cyber James Gray said that the sector [...]