Connaught in administration September 7, 2010 TROUBLED social housing repair firm Connaught put most of its business into administration yesterday, after its lenders refused to further fund the company. The FTSE 250 component said last night that its public sector business will be put into the hands of administrators KPMG, though its environment and compliance arms will remain in operation. The [...]
FTSE gains ground as mining shares are lifted by US data August 31, 2010 BRITAIN’S top shares closed up yesterday as miners gained on firmer US economic data which eased investor anxiety on the global economic recovery, while ARM Holdings jumped on renewed takeover talk. The FTSE 100 gained 23.66 points, or 0.5 per cent at 5,225.22, adding to the 0.9 per cent gain on Friday, as UK traders [...]
Markets fall as fears over economic recovery mount August 31, 2010 The FTSE 100 dropped today (Tuesday) led by falls in risk sensitive assets such as banks and commodity stocks as fears intensified over the sustainability of the global recovery. The index shed 61.37 points, or 1.2 per cent at 5,140.19, erasing the 0.9 per cent gain on Friday, as traders returned after the Bank Holiday [...]
Breeden hurt as Xchanging PR push fails August 25, 2010 HEDGE fund boss Richard Breeden was burned by a second support services company yesterday as a badly-timed PR move by Xchanging wiped 11 per cent from its market value. Breeden European Partners saw £158m shaved from its stake in the outsourcing provider as nervy investors fled the stock. Just a fortnight ago, Breeden crystallised a [...]
Serco bullish on outlook August 25, 2010 OUTSOURCING giant company Serco posted a 21 per cent increase in half-year pre-tax profit and said government spending cuts would boost sales in areas where outsourcers would be hired to achieve savings. Serco, which runs Boris Johnson’s new cycle hire scheme, said yesterday pre-tax profit for the first half to 30 June was £101.4m, against [...]
CITY MOVES | WHO’S SWITCHING JOBS August 19, 2010 Permira The European private equity company has appointed Wulf Bernotat, the former chief executive of energy giant E.ON, as a senior adviser. Bernotat is one of Germany’s most experienced businessmen and retired from his position at E.ON in April this year. He is also a member of the supervisory boards at Metro, Allianz, Deutsche Telekom [...]
FTSE falls to lowest level in a month on US jobless figures August 19, 2010 BRITAIN’S top share index fell to its lowest close in a month yesterday, as weak US labour and other data cast further doubt on the strength of the global recovery and as oil stocks fell on lower crude prices. The FTSE 100 fell 91.58 points, or 1.7 per cent, to 5,211.29 points, the lowest close [...]
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 [...]