Babcock adds £2.5bn in orders
30th Mar 2010 08:12
Defence services group Babcock International said a recently agreed deal with the Ministry of Defence would boost the value of its order book by 40%. The group's order book will be increased by about £2.5bns to around £8.5bn, Babcock's chief executive Peter Rogers said. Babcock, which sealed a suc
Read moreTuesday preview: Ofcom, Domino's, Babcock
29th Mar 2010 15:10
Ofcom, the independent regulator and competition authority for the UK communications industries, will release its review of the pay-TV market on Tuesday, with industry insiders expecting the watchdog will require British Sky Broadcasting (BSkyB) to cut the price of its premium sport and film channel
Read moreLondon close: Further boost for shares
23rd Mar 2010 16:43
Rising commodity prices, US strength and some well-received company updates sent London to a fresh 21-month closing high Tuesday. The leading index hasn't finished up at this level since 19 June 2008 and is just one decent session away from breaking through 5,700. Cairn Energy was easily the most
Read moreLondon afternoon: Full steam ahead for Carnival
23rd Mar 2010 14:15
London's leading shares consolidated gains over the lunch-time trading session after notching up solid gains in the morning. Cairn Energy remains the stand-out performer among blue-chips by some distance. The oil group raised its forecast for peak production from its Indian assets by over a third t
Read moreFTSE 250 movers: Profit warning floors Carpetright
23rd Mar 2010 12:43
Shares in Carpetright have fallen through the floor. The retailer of carpet and floor coverings retailer said the rate of recovery seen towards the end of 2009 has not been sustained and group profits for the year to 1 May 2010 are likely to fall below current market expectations. Investors are a
Read moreLondon midday: Cairn caps a good morning
23rd Mar 2010 11:57
Some of the steam has gone out of Footsie after a bright start, but it is still posting decent gains. Cairn Energy is the stand-out performer by some distance. The oil group raised its forecast for peak production from its Indian assets by over a third to 240,000 barrels per day, plus it also boost
Read moreLondon open: Footsie pushes on
23rd Mar 2010 08:48
Footsie has moved higher in early dealings after a good showing from US shares overnight. Cairn Energy is the star performer so far. The oil group raised its forecast for peak production from its Indian assets by over a third to 240,000 barrels per day. The group posted net losses for 2009 of $60.7
Read moreLondon pre-open: Footsie to edge higher
23rd Mar 2010 07:39
The leading share index is expected to move slightly higher in early dealings after a good showing from US shares overnight. Tobacco group Imperial Tobacco said trading for the financial year to 30 September 2010 has so far been in line with management's expectations. Its global strategic cigarette
Read moreVT accepts Babcock's 735p-a-share offer
23rd Mar 2010 07:03
Support services group Babcock is to take over rival VT Group after the two companies reached agreement on a tie-up after weeks of wrangling. The transaction will be worth about 735p for every VT share based on Babcock's latest closing price, comprising 361.6p in cash and 0.701 new Babcock shares,
Read moreTuesday paper round-up: British Airways, VT Group, Royal Bank of Scotland
23rd Mar 2010 06:34
Passengers at two of Europe's largest airlines face a fresh wave of disruption lasting well into next month. Cabin crew at British Airways are ready to go on strike for four days from Saturday, having finished a three-day strike on Monday, while pilots at Lufthansa announced they would resume indus
Read moreLondon close: Footsie suffers hiccup
4th Mar 2010 16:40
The blue chip index failed to stretch its winning streak to a fifth session, falling for the first time this week on negative results reaction and downbeat miners. It held above 5,500 all day despite coming close just after trade began and towards the end of play. Engineering and project managemen
Read moreBabcock and VT begin talks
4th Mar 2010 14:43
Babcock International and VT Group have begun talks about the creation of a defence-oriented support services business despite VT's previous opposition to a merger. Babcock said today that the two companies 'have agreed a basis for a mutual exchange of information.' The announcement came a few hou
Read moreLondon afternoon: Stocks are becalmed
4th Mar 2010 14:13
It's been an up and down day for the blue-chip index although the Footsie has rarely strayed far from its overnight level. As expected, the Bank of England has held interest rates at 0.5% and taken no further action on quantitative easing (QE) amid conflicting signals over the state of the UK econo
Read moreBabcock handed April deadline for VT bid
1st Mar 2010 15:33
Babcock International has been told to come up with a firm offer for VT Group by 5pm on 12 April or walk away. The company, which runs submarine bases for the Royal Navy at Faslane and Plymouth, has already increased the value of its proposal to 680-715p. Its first approach on 15 February valued V
Read moreVT offers £230m to investors, reports
21st Feb 2010 14:54
VT Group has reportedly offered a bumper payout to its shareholders in an attempt to fight off rival Babcock International's takeover bid. The Independent on Sunday writes that the support services firm has offered to return £230m in the form of a special dividend to shareholders. The paper quote
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