UK stocks sag after gloomy news from Bank of England August 11, 2010 BRITAIN’S top share index fell sharply to a three-week low closing yesterday, with banks and commodity stocks leading a broad-based sell-off after US and UK central banks voiced concerns over the economic recovery. Technology firm Smiths Group, however, topped the list of a handful of gainers, up 3.9 per cent as traders cited break-up hopes [...]
Migrant row overshadows Indian deals July 28, 2010 DAVID Cameron yesterday smoothed the way for a flurry of deals with India on a trade mission to the emerging superpower, but simmering tensions over plans to cap immigration in Britain threatened to turn into a full-scale row. The Prime Minister is leading a 90-strong delegation, which includes top business figures like Barclays boss John [...]
DLR strike dates decided July 14, 2010 COMMUTERS travelling into the City on the Dockland Light Railway (DLR) next week could face severe disruptions as trade union RMT yesterday announced strike dates for workers on the line. From 4am next Friday morning, DLR workers will walk off the job for three 24-hour periods, including 27 July and 6 August. RMT said the [...]
Coalition tells top suppliers to cut the cost of services July 8, 2010 FRANCIS Maude, the minister for the Cabinet Office, yesterday hauled in the bosses of blue-chip companies and asked them to cut the cost of the services they provide to the government. Nineteen chief executives, from the likes of Serco, BT, Logica and Vodafone, were summoned to the meeting and told to do their bit to [...]
Serco wins £415m contract to build a new London prison July 5, 2010 SERCO has signed a contract to run a new London prison, despite concerns that public spending cuts could mean fewer deals for support services firms. Serco, which runs the DLR and detention centres in Australia, said its consortium signed a contract worth £415m with the Ministry of Justice to build and manage a prison at [...]
Serco: Coalition will come good for outsourcers July 5, 2010 THERE may be trouble ahead for outsourcers. The new coalition government is intent on getting a better deal from support services firms; as one of the biggest clients in town, the likes of Serco are powerless to resist. But while there is short-term uncertainty, this government will outsource more in the future. The massive Work Programme [...]
Firms to help run welfare to work plan June 29, 2010 THE government yesterday invited bidders from the private and voluntary sectors to join its new welfare-to-work programme, in a bid to end Britain’s culture of joblessness. Work and pensions secretary Iain Duncan Smith hopes that outsourcing firms like Serco, Capita and Cap Gemini will bid for the contracts, which will provide big rewards for firms [...]
Serco insists it is on track for strong revenue growth in 2010 June 29, 2010 Serco yesterday said it was on track for strong revenue growth in 2010, predicting its future performance would benefit from client demand for efficiency amid a state spending squeeze in Britain. UK-based Serco, which runs prisons in Australia, air traffic control towers in the US and tugs boats for the Royal Navy, said its strong [...]
RMT in Tube strike talks June 21, 2010 TALKS TO prevent strikes on the London Underground and Docklands Light Railway (DLR) took place yesterday at conciliation service Acas as rail union RMT met Tube Lines and Serco. Platform and station staff on the DLR, which carries commuters to and from Canary Wharf, are due to walk out for three days starting Wednesday 23 [...]
Chancellor to declare the winners and losers June 21, 2010 WITH tax rises and spending cuts expected in today’s Budget, many equity strategists are advising investors to steer clear of stocks heavily reliant on UK-based revenues. Instead, contracts for difference (CFD) traders should target equities with international and private sector exposure. The emergency Budget is likely to focus on tax rises instead of detailed spending [...]