Tuesday newspaper round-up: Greece, Gas, Glenstrata
7th Feb 2012 06:54
Shoppers reverted to a bunker mentality over the new year, according to gloomy sales figures that quash any hope of consumers pulling the economy clear of a double-dip recession. Till receipts in January were 2.1% higher than a year ago, according to the British Retail Consortium. However, it said t
Read moreAnalysts disappointed by BAE contract loss to Dassault
1st Feb 2012 15:44
Fitch Ratings has spoken out about the Indian government's decision to select Dassault Aviation over UK defence contractor BAE Systems for a major contract, saying the competition underlines the increasing importance of emerging markets in this space. "The deal demonstrates the growing importance
Read moreIndia selects Dassault's Rafale as next generation interceptor
31st Jan 2012 17:45
The Indian government has this afternoon announced the selection of Dassault Aviation's Rafale jet-fighter as its next generation combat aircraft, according to a statement released by Dassault. The French outfit, which counts EADS as one of its major shareholders, thus seems to have beat the Eurofig
Read moreLondon close: Footsie rises as markets await news from Greece
23rd Jan 2012 16:32
- Markets await news from Greece. - Essar Energy jumps over 10%. - EU approves sanctions against Iran. UK stocks finished the day with impressive gains as investors awaited developments from Greece. Meanwhile, finance ministers of the Eurozone were meeting in Brussels to discuss terms of the Greek
Read moreFTSE 100 movers: Essar surges after increasing resource estimates
23rd Jan 2012 15:10
The share price of India-focused integrated energy company Essar Energy increased by over a tenth on Monday afternoon after the firm increased its best estimate contingent resources at the Raniganj coal bed methane exploration block. Total proven and probable reserves at the block came in at 113bn
Read moreBAE in supply talks with government of Oman
23rd Jan 2012 14:42
Defence contracting giant BAE Systems has confirmed it is in discussions with the government of Oman to supply multiple Typhoon fighter aircraft. If a contract is signed, the aircraft will be completed within three years. In September, the firm announced 3,000 job losses in the UK because of a s
Read moreMonday broker round-up - UPDATE
23rd Jan 2012 09:26
BAE Systems: Barclays Capital upgrades to overweight from neutral. Weir: JP Morgan downgrades to neutral from overweight. Royal Dutch: ING initiates coverage at buy. IMI: UBS downgrades from buy to neutral, target cut from 950p to 900p. Renishaw: UBS upgrades from neutral to buy, target hiked
Read moreBAE Systems trying to save UK shipyards, says FT
17th Jan 2012 09:35
The Financial Times is reporting that the defence giant, BAE Systems, may be trying to develop foreign contracts in order to keep British shipyards in work. The paper claims BAE is trying to convince Turkey and Brazil to let it build highly advanced ships for their navies at its yards in Glasgow an
Read moreSunday newspaper round-up: Aon, Volcker, BoE, Rockhopper
15th Jan 2012 17:03
Aon is to become the first US S&P 500 company to become domiciled in the UK after the insurance broker unveiled plans to shift its headquarters from Chicago to London. The move by Aon, which employs 59,000 people globally and has a market capitalization of $15bn gives a boost to London´s status as a
Read moreThursday newspaper round-up: RBS, Spain, Renewables, Next
5th Jan 2012 07:06
As many as 10,000 jobs could be culled at the Royal Bank of Scotland as it dramatically downsizes its global banking and markets division. These cuts and an expected £1bn to £2bn of restructuring costs are considered the worst-case scenario by the bank, it was reported in the Financial Times. RBS is
Read moreLondon close: Footsie follows Wall Street lower
4th Jan 2012 17:12
Having spent most of the day seeking direction, UK investors took the hint from their US counterparts and banked some of yesterday's heavy gains. Fashion chain Next was one of the day's biggest fallers, after a cautious trading statement. The company said "despite a good final week before Christma
Read moreBAE Typhoon order talks with Saudia Arabia drag on
4th Jan 2012 16:37
Defence contractor BAE Systems said its discussions with the Kingdom of Saudi Arabia regarding changes to an order for Eurofighter Typhoon jets are dragging on, and this may put a dent in 2011 earnings. Back in February 2011 BAE revealed that Saudi Arabia wanted to make changes to its order (known
Read moreLondon close: Footsie extends losing streak
22nd Nov 2011 16:42
After spending almost all of the day in the blue and threatening to end a six-day losing streak, Footsie tumbled at the death to extend its miserable sequence. Disappointing third quarter gross domestic product data from the US played a part in London's late swoon. The second estimate for third qu
Read moreLondon midday: Miners on the rise, defence stocks down on US fears
22nd Nov 2011 12:23
London's blue chip index held on to gains in morning trade, recovering after a six-day sell-off. While markets are still concerned with the ongoing troubles in the Eurozone, fears over the credit rating of the US eased after Standard & Poor's and Moody's reiterated their ratings last night. Neverth
Read moreThursday newspaper tips: BAE, Speedy Hire, Rockhopper
13th Oct 2011 06:34
Since exiting the passenger jets market some years ago, BAE has been an entirely defence-focused business. Today, about half the workload comes from the UK military and about a fifth from the UK defence establishment. This is not a good place to be; last month the company announced about 3,000 job l
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