Serco's road to recovery likely to be long, says Cantor Fitzgerald
29th Apr 2014 10:19
Cantor Fitzgerald has said that another profit warning from Serco is 'highly concerning' and believes that the road to recovery is likely to be a long one for the outsourcing group. In an unexpected statement released after the close on Monday, Serco said that trading since the start of the year ha
Read moreLondon open: Stocks rise as Russia tensions ease, but Serco drops
29th Apr 2014 08:38
- FTSE 100 at highest since March 6th - Russia-West tensions ease slightly - UK GDP data expected to show stronger growth - Serco drops after profit warning techMARK 2,801.27 +1.10% FTSE 100 6,729.00 +0.43% FTSE 250 15,909.99 +0.53% UK stock markets opened strongly on Tuesday, tracking a late rebo
Read moreLondon pre-open: FTSE to rise ahead of busy session
29th Apr 2014 07:40
The City is set for an upbeat start today, with stocks tracking gains seen in the US last night ahead of a busy day of economic data and following yesterday's close above the psychologically important level of 6,700. City sources predict the FTSE 100 will open around 18 points above yesterday's cl
Read moreSerco issues profit warning
29th Apr 2014 07:04
- Another profit warning after trading deteriorates - May have to raise capital through share placing - Will issue further update this week FTSE-250 support services firm Serco has issued a fresh profit warning and indicated it may have to raise capital through a share placing just days before new
Read moreG4S and Serco criticised by MPs for asylum contracts
24th Apr 2014 11:15
Government outsourcing deals to G4S and Serco have been harshly criticised by a powerful group of MPs. The contracts to run asylum centres were outsourced to the pair in 2012 despite neither having experience in running such schemes, as well as Clearel, a joint venture between Clearsprings and Rel
Read moreRupert Soames to join Serco Group as CEO in May
2nd Apr 2014 10:06
Serco Group said Rupert Soames will join the company as Chief Executive a month earlier than previously planned. Soames will take over on May 1st instead of June 1st and will be appointed to the board at the annual general meeting on May 8th. The grandson of former Prime Minister Winston Churchill
Read moreSerco JV awarded extension on Northern Rail franchise
27th Mar 2014 07:48
Support services firm Serco Group on Thursday announced that, together with its 50/50 joint venture (JV) partner Abellio, it has signed a 22-month interim franchise agreement with the Department for Transport (DfT). The JV will continue to operate the Northern Rail franchise on behalf of the DfT un
Read moreSunday newspaper round-up: Tesco, Jimmy Choo, BHP Billiton
16th Mar 2014 17:50
Tesco is under pressure from investors to use "shock and awe" tactics to win the coming price war between supermarkets, the Sunday Times said. The call for aggressive action follows WM Morrison's announcement last week that it would spend £1bn over three years to attract customers back from Aldi and
Read moreFTSE 250 movers: Hikma Pharmaceuticals jumps after strong 2013
12th Mar 2014 14:43
Powerful revenue growth from its generic drugs and solid growth elsewhere helped Hikma Pharmaceutical post impressive results for 2013. Group revenue increased 23% to $1,365m and a 30% strengthening of operating margins from improvements in the Generics and Injectables businesses helped group prof
Read moreG4S agrees to pay UK 109m pounds over tagging row
12th Mar 2014 12:50
Troubled security group G4S has done a deal with the UK government over a prison electronic tagging row, saying it hoped the move would allow it to keep winning public work. G4S said it would refund the Ministry of Justice £96.4m and reimburse it for costs of £12.5m to settle claims arising from el
Read moreLondon midday: Stocks near one-month low on China, Ukraine fears
12th Mar 2014 12:00
- Chinese concerns hammer copper prices - Ex-div stocks falls - Prudential gains, G4S slumps - Poundland, Pets at Home in focus techMARK 2,825.81 -0.90% FTSE 100 6,629.89 -0.83% FTSE 250 16,372.49 -0.66% Fears surrounding a slowdown in China and ongoing concerns about Ukraine weighed heavily on st
Read moreLondon open: Markets fall on China concerns, ex-div stocks weigh
12th Mar 2014 08:29
- Chinese concerns hammer copper prices - Ex-div stocks weigh on markets - Poundland, Pets at Home in focus - Prudential gains, G4S slumps techMARK 2,837.07 -0.51% FTSE 100 6,637.18 -0.72% FTSE 250 16,390.10 -0.55% UK stocks opened with heavy losses on Wednesday as ongoing concerns surrounding Chi
Read moreSunday share tips: Aggreko, Essar, Scholium
9th Mar 2014 14:05
As Rupert Soames leaves Aggreko for Serco after 11 years as Chief Executive, it is time to sell the shares, Questor advised in the Sunday Telegraph. The shares rose from 140p to £16 in Soames' time as boss at the temporary power company. Profits peaked in 2012 when Aggreko supplied power for the Lon
Read moreSunday newspaper round-up: WM Morrison, BP, Barclays
9th Mar 2014 10:14
WM Morrison is preparing to announce aggressive price cuts and 500m pounds of property sales this week, the Sunday Times reported. The price cuts aim to take on Aldi and Lidl, the German chains whose prices have lured MM Morrison customers. The £500m of property sales out of a total portfolio of £10
Read moreAdmiral Chairman reduces interest after wife makes share sale
6th Mar 2014 15:50
The wife of the Chairman of Admiral this week sold 1.2m pounds-worth of shares on the same day the insurance giant cheered with an in-line set of full-year results. The 1,500p-a-share sale reduced Alastair Lyons's interest by 80,000 shares to 312,152. The disposal took advantage of the recent ri
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