West Ham move questioned after Balfour contract January 6, 2014 CONSTRUCTION group Balfour Beatty has won a £154m contract to convert London’s Olympic stadium into a facility that will be the permanent home for West Ham football club, prompting renewed questioning of the financial wisdom of the deal. The firm said it would transform the Stratford centerpiece of the 2012 Games into a venue that [...]
Centamin shares rise on news of glittering gold production figures January 6, 2014 CENTAMIN shares rose nearly three per cent yesterday on news the FTSE 250-listed metals and minerals producer had increased gold production and beaten its full-year guidance. Preliminary fourth quarter figures showed total gold production at its Sukari Gold Mine in Egypt was 91,546 ounces, up seven per cent on the same quarter in 2012 and [...]
3D printing tested in BAE’s military aircraft January 6, 2014 DEFENCE firm BAE Systems has used 3D printed components in its latest Tornado aircraft during a test flight at the company’s UK airfield. BAE said the development could open up opportunities to use 3D printed parts in other military equipment in the future. 3D printing could lead to savings which BAE said already amount to [...]
M&S sales lose their shine after poor Christmas January 6, 2014 MARKS & Spencer is set to report poor festive trading this week as heavy discounting activity in the run-up to Christmas failed to spark a late surge in spending. Analysts predict the retailer will report a drop in third quarter general merchandise sales of as much as 1.5 per cent, despite a highly publicised revamp [...]
Schroders signs deal for new headquarters January 6, 2014 SCHRODERS, Britain’s biggest listed asset manager, has completed a deal to lease the whole of Brookfield and Oxford Properties’ One London Wall Place in the City. The development, which is due to be completed in the second half of 2017, spans 310,000 square feet making it the largest pre-let agreement in the City of London [...]
High Street champion Bill Grimsey accuses Debenhams of bully-boy demands December 19, 2013 RETAIL veteran and former Wickes boss Bill Grimsey has hit out at Debenhams, accusing the department store group of “bully-boy tactics” after it demanded discounts from its suppliers just days before Christmas. The small business champion, who launched an independent review into the high street this autumn, said the demands made on suppliers were “unacceptable”. [...]
Blow for BAE and Britain as deal for Eurofighter planes collapses December 19, 2013 THE UNITED Arab Emirates has pulled out of talks to buy warplanes from Eurofighter, in a blow to BAE Systems and its partners. Despite a meeting with Prime Minister David Cameron last month to talk up the merits of a deal, the UAE has decided not to proceed with an order for at least 60 [...]
Serco forced to pay £68.5m for contract flaws December 19, 2013 SHARES in beleaguered outsourcing company Serco rallied in trading yesterday after the company said it had reached a £68.5m settlement with the Ministry of Justice (MoJ) over allegations it overcharged on contracts. The company had run into trouble over allegations it overcharged for electronically tagging prisoners. It was later found that some of these were [...]
Former BP engineer to appeal oil spill charge December 18, 2013 A FORMER BP senior engineer found guilty of destroying evidence in relation to the Gulf of Mexico oil spill is planning to appeal the conviction, it emerged yesterday. The engineer, Kurt Mix, was found guilty of one of two counts of obstruction of justice at a federal court in New Orleans, after he was accused [...]
Thomas Cook boss paid £2.8m December 16, 2013 TRAVEL group Thomas Cook has awarded its new boss Harriet Green £2.85m for her first full year in charge of an ambitious recovery plan. Green, who has led a £305m rights issue and cost cutting measures since joining the firm in July 2012, hit every target needed to get her full £1.8m cash bonus. Chief [...]