French jobless up in January February 26, 2013 FRENCH unemployment rose in January, according to its labour ministry’s measure of joblessness. There were 3,169,300 category A job seekers in the first month of the year, Pole Emploi, the French labour ministry said yesterday, up 43,900 on December, and up 10.7 per cent on the previous January. Category A job seekers are those completely [...]
M in meltdown as the founders join the exodus February 26, 2013 JUST a few hours after The Capitalist disclosed that five key members of staff had quit the City’s top flight financial PR agency M:Communications came the revelation that suggests things are getting serious. Founders Nick Miles and Hugh Morrison, both City veterans and big revenue earners, announced that they are also leaving the group, which [...]
City Moves for 27 February 2013 | Who’s switching jobs February 26, 2013 Lloyds The bank has announced the appointment of David Weatherhead as regional trade director for London and the south east. He will focus on medium-sized businesses with turnovers of up to £500m. Weatherhead has over 24 years’ banking experience, and joins Lloyds from RBS. He sits on the London Chamber of Commerce’s Security and Defence [...]
CRH chief steps down as it eyes growth in US February 26, 2013 BUILDING materials group CRH said yesterday that its chief executive is to stand down, as the construction company looks towards growth in North America. Myles Lee will retire from the FTSE firm at the end of this year in a widely-expected move, following a five-year tenure. CRH said yesterday that the outlook for the US [...]
Bumper year at consumer care unit helps boost Croda results February 26, 2013 SPECIALITY chemicals group Croda posted a jump in pre-tax profit over the full year, boosted by a bumper performance from its consumer care division. Pre-tax profit at Croda, which counts Procter & Gamble and Unilever among its customers, rose by 6.6 per cent to £253.2m over the 12 months, on sales 2.3 per cent higher [...]
Glencore’s Glasenberg attacks record of mining industry CEOs February 26, 2013 IVAN Glasenberg, the billionaire boss of commodity giant Glencore, has launched a blistering attack on mining industry executives, saying they have “really screwed up”. He told investors that industry CEOs made the “catastrophic” decision to over-invest in new mines, pushing down prices at the expense of shareholder returns. “We’ve always been wanting to keep building and [...]
Progress made at RSM Tenon February 26, 2013 RSM Tenon yesterday heralded a “significant turnaround” as it narrowed its losses to £10m for the six months to the end of December, from £70.6m a year ago. The audit firm, which is recovering from a string of profit warnings and a change in management in early 2012, said revenues fell 10 per cent to [...]
GKN earnings leap as it warns on softening Europe car market February 26, 2013 CAR and aeroplane parts maker GKN yesterday warned of a sluggish European car market this year, as profit jumped 19 per cent over the full year. While GKN – which operates across four divisions – expects 2013 to be “a year of good progress” for the group, it expects another bleak year for European car [...]
St Modwen raises £50m in New Covent Garden share placing February 26, 2013 ST MODWEN yesterday raised £49m in a share placing to help fund the £2bn regeneration of Britain’s biggest flower and vegetable market. The developer and joint venture partner Vinci were chosen last year to redevelop New Covent Garden Market in Nine Elms on the South Bank. The project will see the complete overhaul of the [...]
Redrow profits up 50 per cent February 26, 2013 HOUSEBUILDER Redrow posted a 50 per cent rise in first-half profit yesterday and said it was cautiously optimistic for the second-half as the housing market stabilises. Chairman Steve Morgan, who led a failed takeover bid for the group last year, said improvements in the mortgage market as well as a focus on margins had aided [...]
