Coalition U-turn on private prisons will undo 20 years of real progress February 22, 2013 THE coalition’s pursuit of competition in healthcare may have grabbed the headlines, but it was the Ministry of Justice that had made the most headway. In 2011, its Competition Strategy set out a “guiding principle” that competition will apply to all services not bound to the public sector by statute. After two decades of limited [...]
Sale of UK air traffic attracts interest from 3i January 27, 2013 LISTED private equity firm 3i has entered the fray to snap up a minority stake in the UK’s air traffic control agency amid an ownership shake up at the air controller, it emerged yesterday. 3i, led by chief executive Simon Borrows, is understood to have registered its interest in bidding for a 12 per cent [...]
Serco wins £100m extension to Docklands Light Railway work January 7, 2013 SERVICES company Serco has won an 18-month extension to its Docklands Light Railway (DLR) contract, worth around £100m, following a landmark summer for the transport system. The extended contract will run from April this year to September 2014 and will involve Serco operating, maintaining and marketing the DLR, which connects the City and the Docklands. [...]
Best of the Brokers January 2, 2013 DOMINO’S PIZZA Numis upgraded the takeaway pizza business to “buy” from “add” and keeps its target of 625p, believing the company is likely to generate strong growth in 2013. Numis expects to see new developments, such as a gluten free menu and higher ecommerce advertising, greater expansion with new stores in the UK and the [...]
City Moves | Who’s switching jobs December 9, 2012 Old Burlington Investments Noreen Kelly has been appointed business development manager at the investment business. She was previously a relationship manager at Octopus Investment Management. In her new role, Kelly will market Old Burlington’s funds to financial advisers. Sainsbury’s Angie Risley has been appointed group human resources director at the supermarket. She was most recently [...]
Every little helps as Tesco boosts FTSE December 5, 2012 Tesco proved that every little helps by assisting the FTSE to a healthy rise in early trading. The supermarket group admitted last night that it is considering giving up on its struggling US venture, exciting investors who have grown exasperated with the company’s inability to transfer its success to the other side of the Atlantic. [...]
FTSE 100 down on global growth concerns November 16, 2012 The blue chip index edged down in early deals as investors fretted over US fiscal cliff concerns and Eurozone growth. Buyout group Melrose was the biggest faller on the leading share index, shedding 13.69 per cent as it said it was facing slowing revenue trends. Utility firm Pennon firm 2.55 per cent, while steelmaker Evraz [...]
Inflation on the way up again as energy bills and tuition fees strike November 11, 2012 INFLATION will be back in the spotlight tomorrow when official figures are released, followed by the Bank of England’s quarterly Inflation Report on Wednesday. While the Consumer Price Index (CPI) fell to 2.2 per cent in September, it is expected to increase again due to rising tuition and energy bills. “We expect the CPI to [...]
G4S loses out as coalition rows back on prison deals November 8, 2012 OUTSOURCING giant G4S has lost its contract to run Wolds prison and failed to make the shortlist to oversee several other jails, as the government backtracked on plans for more competitive justice operations. The Ministry of Justice revealed yesterday that G4S will hand over the category C jail in Hull in July 2013 after 21 [...]
Serco buys out Oz maritime firm November 7, 2012 Services firm Serco has agreed to buy the remaining 50 per cent stake in Australian defence and marine services firm DMS Maritime for A$106m (£68m) in cash. Serco said the deal with one of Australia’s largest maritime service operators would strengthen its position as a defence services provider in the country.