Serco on track despite austerity November 17, 2011 Outsourcing firm Serco said yesterday it had won almost £2bn of work to date in the second half of the year, and that it expected to meet full-year expectations. Serco, which runs services from UK immigration centres to the Dubai metro, said total work won this year stood at £4.4bn, in line with last year, [...]
FTSE hit by soaring bank yields November 17, 2011 The FTSE 100 fell in early trading today as yields on a Spanish bond auction soared to almost seven per cent – a level considered unsustainable by economists. A warning from ratings agency Fitch that the outlook for US banks could deteriorate if the Eurozone sovereign debt crisis is not resolved also took its toll. [...]
FTSE falls as Eurozone fear factor hits banks November 15, 2011 The FTSE edged down this morning, mirroring weaknesses in Asia, as rises in bond yields in Spain and Italy heaped more pressure on markets. Italy sold three billion euros of five-year bonds at 6.29 per cent yesterday – a euro-era record. The country’s 10-year bond yields rose to 6.76 per cent, also pushing Spanish 10-year [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 31, 2011 FINANCIAL TIMES SHARE PRICE VOLATILITY CARRIES A HEART RISK FOR MARKET WATCHERS Sharp moves in stock markets are closely correlated with a rise in heart attacks, according to a new analysis of studies in the US and China. Two recent academic articles have found a link between equity trends and coronary heart disease, suggesting that [...]
SERCO WINS NEW BORIS BIKE CONTRACT October 25, 2011 Support services firm Serco yesterday signed a £50m agreement to support the expansion of TfL’s Barclays Cycle Hire scheme into East London. The contract will run until 2015 and include the design, operation and installation of the scheme in Tower Hamlets, plus new docking stations to serve the Westfield shopping centre in West London. Serco [...]
Dutch company beats UK firms to rail tender October 20, 2011 THE Dutch state rail operator has been awarded a contract to run the Greater Anglia rail franchise, meaning that Stagecoach and the Go-Ahead Group will miss out on the lucrative tender. Abellio Great Anglia, a unit of Nederlandse Spoorwegen, will run the franchise across parts of Essex, Norfolk, Cambridgeshire and Sussex, including many of the [...]
Mouchel set to breach its covenants October 13, 2011 British infrastructure and maintenance group Mouchel said yesterday it was in talks with its lending banks regarding expected covenant breaches caused by a profit warning last week, and named a new interim chairman after incumbent Bo Lerenius resigned. “The board is encouraged that the banks have been supportive and the discussions continue to be constructive [...]
FTSE sees modest rise on solid company news September 6, 2011 Stocks have moved higher this morning following heavy selling in the US and Asia overnight, but markets remain under pressure over fears of a global recession. Positive trading updates from a number of companies have given UK shares a modest lift this morning after yesterday’s 189-point slump. But in a warning sign that investor sentiment [...]
FTSE down as miners struggle but banks rally September 1, 2011 The FTSE 100 failed to track gains on Wall Street and in Asia overnight as the mining sector pegged the index back. Traders and investors were digesting a raft of economic data from across the globe and assessing whether the economic recovery was gaining traction. Miners were hit by figures from China showing that its [...]
FTSE edges up as investors eye US strategy August 31, 2011 The FTSE 100 opened solidly this morning as investors kept their eyes on the situation across the Atlantic with hopes still alive that the US Federal Reserve will trigger stimulus measures to boost the struggling economy. US stocks rose for a third straight day yesterday in a volatile session, after minutes from the latest Federal [...]