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.
Serco wins £170m pensions deal October 29, 2012 Outsourcing firm Serco, which runs the Docklands Light Railway, yesterday secured its first pensions deal. Serco, which also runs the Boris bikes scheme, will provide back office support services for life and pensions company Aegon in a deal worth £170m over the ten-year term. It will also manage some of Aegon’s so called “zombie” funds, [...]
Serco confident despite drop in first-half profit August 29, 2012 BRITISH outsourcing group Serco said yesterday a raft of recent contract wins would help it to strong full-year revenue growth, after reorganisation costs and continued delays in the award of US federal work pushed first-half profit down 17 per cent. The flow of much-anticipated public sector work in Serco’s core British market, which represents around [...]
Serco profit hit by reshuffle and slow US market August 29, 2012 Outsourcing group Serco said recent contract wins would help it deliver a strong full-year performance, after reorganisation costs and delays in the award of US federal work pushed first half profit down 17 per cent. The British firm, which runs services from London’s light rail to prisons and air traffic control centres around the world, [...]
London report August 27, 2012 MARKET watchers will be looking to tomorrow’s Nationwide house prices report and mortgage approvals on Thursday to gauge whether the UK’s economy is pulling out of its double dip. Recent data put the number of mortgage approvals at a 15-year low and last month house prices had fallen by 0.7 per cent and 2.6 per [...]
BEST of the BROKERS August 8, 2012 SERCO UBS has moved its rating on the firm from “buy” to “neutral” with a target price of £6, after a strong share price performance, remaining upbeat on the UK and Europe but less optimistic on the US business. NATIONAL GRID Liberum Capital has upgraded the utility from “hold” to “buy” with a raised target [...]