News

Your daily news update straight from the City PM newsroom in London

CITY VIEWS: ARE YOU WORRIED ABOUT THE EFFECTS OF SWINE FLU ON THE ECONOMY?

July 20, 2009

MARK WOOLRIDGE HOME & LEGACY“I think companies will be hit very hard, especially in service-related businesses. If 20 or 30 per cent of staff are off ill, then it will hit the firm’s ability to provide a good service. And if lots of train and tube drivers become ill, then it will really affect transport [...]
HOT TICKETS

July 20, 2009

FAN-to-fan ticket exchange Seatwave posted strong growth in the second quarter of 2009 ahead of an action-packed summer of sport and live entertainment. Seatwave said its UK sales grew by 86 per cent compared to the same three months of 2008, while European sales grew 125 per cent in the period. Founder and chief executive [...]
Hambro posts surprise gain in gold output

July 20, 2009

PETER Hambro Mining yesterday said its gold production jumped 54 per cent in the first half and noted that output, which is traditionally higher in the second half, will be boosted by one of its biggest mines, the Pioneer deposit. The second-biggest gold producer in Russia said its output rose to about 222,600 ounces. The [...]
SMEs prove fertile testing ground for technology

July 20, 2009

IN 1517, Martin Luther had a radical idea and courage. His investigation of the scriptures led him to reject outright that salvation could be purchased. His stand against the Catholic Church initiated the Protestant Reformation. He became an outlaw. But Luther’s ideas would have gotten nowhere if Gutenberg decades earlier had not invented the mechanical printing press. Gutenberg’s Bible [...]
KKR moves a step closer to US flotation

July 20, 2009

KOHLBERG Kravis Roberts (KKR), the private equity firm co-founded by “buyout king” Henry Kravis, yesterday secured agreement for a merger with its affiliated private equity fund KKR Private Equity (KPE). The KPE board accepted the merger offer, initially made in June, taking Kravis’ KKR a step closer to its eventual goal of a becoming a [...]
IS YOUR VIEW OF PETER HAMBRO MINING BOOSTED BY THE GOLD RUSH?

July 20, 2009

CHARLIE GIBSON EDISON RESEARCHThe update is good stuff and is in-line with what they outlined in terms of full-year goals. There are no details on costs but those will come with the interims in about a month. I think the stock is still a ‘Hold’ for now, unless you believe the gold price is going [...]
Domino’s eyes further gains

July 20, 2009

DOMINO’S , the pizza delivery chain, yesterday showed it was slicing its way through the downturn, reporting a 25.2 per cent jump in pre-tax profit to £13.6m from £10.9m a year earlier, as the trend for dining at home shows no signs of abating. Sales at the pizza chain are booming, with like-for-like sales up [...]
Downturn hits downtown as shops lie empty

July 20, 2009

ONE in eight shops are lying empty in the UK according to the British Retail Consortium (BRC), which today sets out its rescue strategy for the retail landscape. It says 12 per cent of town centre shops are now vacant, three times as many than last autumn, as retailers have been hit by the slump [...]
BEST OF THE BROKERS

July 20, 2009

MEGGITTDeutsche Bank upgraded Meggitt to a “buy” rating, saying that it believes that the aerospace aftermarket should start to show some progress in the second half. The broker said that concerns over the engineer’s balance sheet are over done and believes that the firm’s strong management record will help sustain earnings. DSMAs part of its [...]
CITY MOVES WHO’S SWITCHING JOBS

July 20, 2009

KewillKewill, the provider of software and solutions that simplify global trade and logistics, has announced the appointment of Karen Bach to the board as chief financial officer (CFO) with effect from 17 August. Bach joins Kewill from Advanced Computer Software, where she was CFO, where she was closely involved in its over the last year [...]