Editor's Picks
GKN set to acquire Stromag for £146m
Monday 18 Jul 2011
Global engineering giant GKN is looking to expand its Land Systems division after announcing that it is to acquire of engineer Stromag Holding for €164m (£146m). GKN - which operates through four divisions: Automotive, Powder Metallurgy, Land Systems and Aerospace - said it has signed an agreement with the target's shareholders; the transaction is expected to close in September.
Glencore buys Peru copper assets
Monday 18 Jul 2011
Commodity trading house Glencore is adding to its metal assets in Peru with the purchase of a 70% stake in Marcobre, which owns the Marcona Copper property and the Mina Justa exploration and development project, for $475m (£295m).
Monday newspaper round-up: Met, Greece, Stress tests...
Monday 18 Jul 2011
Sir Paul Stephenson resigned as head of the Metropolitan Police last night as allegations of an inappropriate relationship with an executive from the News of the World threatened the reputation of the force. Britain’s most senior officer said that speculation about his links to Neil Wallis, the former deputy editor of the now defunct tabloid, had become a “distraction” the force could ill afford,
Sunday papers round-up: Stress tests, News Corp, care homes ...
Sunday 17 Jul 2011
The European Banking Authority (EBA) has attempted to quell City complaints over Friday's widely-criticised industry stress tests, telling analysts they would have liked to have made them harsher but were unable to do so. The Sunday Telegraph reports that the EBA admitted that figures given by the banks in some cases "materially" changed after being challenged. "It is clear the EBA is telling us
Sunday tips round-up: Brewin Dolphin, Electrocomponents, IMPs, Telecom Plus, SVG
Sunday 17 Jul 2011
Private client investment manager Brewin Dolphin can trace its roots to the mid-18th Century and was a founding member of the London Stock Exchange, writes Midas in the Mail On Sunday. It has more than 100,000 clients, and since the turn of the century the proportion of clients who are taking the firm's discretionary services rather than making their own decisions has more than doubled from 26%
US close: Stocks fight back
Saturday 16 Jul 2011
Stocks finished in positive territory heading into the weekend, winning back some of the losses incurred earlier in the week. The Dow Jones closed up 42 at 12,479, the S&P 500 finished 7 higher at 1,316 and the NASDAQ gained 27 points to close at 2,789. The Dow Jones closed up 42 at 12,479, the S&P 500 finished 7 higher at 1,316 and the NASDAQ gained 27 points to close at 2,789.
Eight European banks fail stress tests
Friday 15 Jul 2011
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Charter turns its nose up at Melrose's sweetened bid
Friday 15 Jul 2011
British engineer Charter International has rejected investment firm Melrose’s revised 840p-a-share bid, saying that the proposal undervalues the company and its prospects. Charter maintains that the sweetened offer does not reflect, among other things, the belief that the market was undervaluing the company’s prospects in the immediate aftermath of its trading statement on 20 June.
Item Club to cut UK GDP forecast for 2011
Friday 15 Jul 2011
Consulting firm´s Ernst & Young’s Item Club will cut its U.K. economic growth forecasts for the second time this year, in a report to be issued today, as weak consumer spending and Europe’s sovereign-debt crisis cloud the outlook for the recovery, according to Bloomberg.
Future shock
Friday 15 Jul 2011
Hobby magazine publisher Future is to take chunky non-cash impairment charge in its 2011 results to take into account the declining value of its ailing US print business.
New CEO takes reins of Charter International
Friday 15 Jul 2011
Engineering firm Charter International has appointed Gareth Rhys Williams as its new chief executive officer with immediate effect, filling the position left open by its previous head Michael Foster, who resigned after the company’s disappointing performance. On June 28, Foster stepped down from his position as chief executive officer, saying that he was leaving by "mutual consent"
Future shock
Friday 15 Jul 2011
Hobby magazine publisher Future is to take chunky non-cash impairment charge in its 2011 results to take into account the declining value of its ailing US print business. While revenues on the UK side of the business have held up well, performance on the US newsstands has been much worse than the company had been expecting.
Royal London to buy Co-op's life and AM business
Friday 15 Jul 2011
Royal London, the UK's largest mutual life and pensions company, is in exclusive talks to buy Co-operative Financial Services' (CFS) life assurance and asset management businesses. CFS' business represents around two million policyholders and has £20 billion of funds under management. Royal London is the largest mutual life and pensions company in the UK with £42.4bn funds under management.
Broker tips: Blacks Leisure, Alumasc, Experian
Friday 15 Jul 2011
The future is black for Black’s Leisure, judging by finnCap’s latest diagnosis of the outdoor clothing and equipment retailer’s health.
S&P warning adds to US treasury gains
Friday 15 Jul 2011
US and European bonds continued to move in opposite directions after the rating agency Standard & Poors became the latest to warn it could downgrade US debt, taking away its coveted AAA rating.
Broker snap: BarCap likes Experian's cash bonds
Friday 15 Jul 2011
The market regarded the trading update from credit checking firm Experian as lacklustre, but Barclays Capital (BarCap) welcomed "Experian's steady business performance."
Week Ahead: BoE notes, Kingfisher, Capita
Friday 15 Jul 2011
Wednesday sees the release of the minutes of the most recent minutes of the Bank of England’s Monetary Policy Committee (MPC) and though it is assumed that voting on interest rate policy has become a bit of a non-event, Dr. Howard Archer, the seemingly omnipresent economist of forecasting agency IHS Global Insight, thinks the idea of a resumption of the Quantitative Easing (QE) programme to try
London midday: Stocks move both ways after updates
Friday 15 Jul 2011
Stocks are moving in both directions on a surprisingly busy company news day for a Friday. The FTSE 100 is flat.
BP improves drilling standards after oil spill
Friday 15 Jul 2011
BP has announced a series of measures to improve the safety and environmental performance of its operations in the Gulf of Mexico as it seeks to salvage its reputation following last year’s disastrous oil spill. The company says its new measures go beyond existing regulatory obligations. “BP's commitment in the wake of the Deepwater Horizon
H&M sales slump not as bad as feared
Friday 15 Jul 2011
Fashion chain H&M reported a 4% year-on-year like-for-like decline in sales in June, compared to the 4.3% decline expected by analysts.
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