‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
What you need to know before the open March 4, 2014 Russia’s stock market has jumped five per cent this morning, a rebound from yesterday’s catastrophic fall of over 10 per cent. The rebound could be a response to reports that Russian troops have been ordered back to their bases, which also mean European markets should open higher this morning. The US has suspended military relations [...]
Troubled Serco strengthens its board with three new directors March 3, 2014 SCANDAL-TAINTED outsourcing giant Serco yesterday unveiled the appointment of three new eminent non-executive directors, after hiring a new chief executive at the end of last week. The FTSE 100 firm has hired Rachel Lomax, former deputy governor of the Bank of England, Mike Clasper, former chief executive of BAA and Tamara Ingram, executive vice president [...]
What you need to know before the open March 3, 2014 European stock futures have been falling as the tensions in Ukraine continue to rise. The rouble is currently at an all-time low, and Russia’s central bank has announced it’s hiking its benchmark interest rate from 5.5 per cent to seven per cent. All European markets are expected to fall sharply at the open, after Ukraine [...]
Serco bags 3 leading lights as non-execs March 3, 2014 After announcing at the end of last week that it’s appointed a new chief executive – in the form of current Aggreko chief Rupert Soames – government contractor Serco has said this morning that its drafted in three impressive new non-executives. Rachel Lomax, former deputy Bank of England governor, Mike Clasper, ex-BAA chief and chairman [...]
London Report: UK marks five-year anniversary of low Bank interest rate March 2, 2014 WEDNESDAY marks the five-year anniversary of the Bank of England’s record low 0.5 per cent interest rate, a figure that Thursday’s rates decision is unlikely to change. In other economic news, February PMI reports for manufacturing, construction and services will be announced. The corporate calendar starts today with news from Amlin, Intertek, Keller Group, Senior [...]
Serco shares rocket on appointment of Aggreko chief February 28, 2014 Scandal-hit Serco has announced this morning that it’s appointed Rupert Soames, current chief executive (CEO) of Aggreko, as its new CEO. Shares have jumped over 10 per cent on the news. Source: Google Chris Hyman, the company’s last boss, left in October, following the string of fiascos concerning the electronic tagging of prisoners. Last [...]
Capita rockets on swathe of new contracts February 27, 2014 OUTSOURCING firm Capita yesterday pleased the market with a 14 per cent rise in full-year profit, boosted by a £5.5bn bid pipeline. The FTSE 100-quoted company posted a 15 per cent rise in underlying revenue to £3.85bn and pre-tax profits of £475m in 2013. Shares rose over four per cent in the morning, before closing [...]
Mitie to run immigration centres February 11, 2014 Outsourcing group Mitie will soon be the biggest immigration centre operator in the private sector, after winning the right to run two centres near Heathrow. The Home Office contract, worth £180m over eight years, will make Mitie responsible for around 900 people detained at Colnbrook and Harmondsworth. The sites were previously managed by Serco and [...]
Serco has RAF contract renewed February 10, 2014 Serco, the FTSE 100 outsourcing firm that recently had its ban on winning new government work lifted, yesterday said that it has been re-awarded an RAF contract by the Ministry of Defence. The six-year agreement, which starts on 1 April, is valued at over £15m and has an option for another six years. “We are [...]
MPs blast G4S and Serco on housing deal February 5, 2014 OUTSOURCING firm Serco yesterday faced a bashing from a committee of MPs over its management of an asylum seeker housing contract, less than a week after its ban on winning new government work was lifted. Margaret Hodge, chair of the public accounts committee, grilled executives from FTSE 100-quoted Serco, peer G4S and smaller firm Clearsprings [...]