Tuesday newspaper round-up: Cameron, Shadow banks, North Sea
12th Nov 2013 06:18
The government is to forge a "leaner, more efficient state" on a permanent basis, David Cameron has said, as he signalled he had no intention of resuming spending once the structural deficit has been eliminated, a clear change to claims made after the last general election. Cameron said that the gov
Read moreSunday newspaper round-up: Serco, Energy companies, Economic growth
10th Nov 2013 17:04
Serco will warn on November 14th that it will not meet forecasts for annual profits, the Sunday Times reported. The outsourcing company has been hit by Government allegations of fraud in contracts to tag prisoners. Investors had expected Serco to report annual profits of about £326m but analysts now
Read moreSerco boss Chris Hyman falls on sword after tagging scandal
25th Oct 2013 11:48
Serco said its Chief Executive Chris Hyman had resigned as it unveiled a restructure of the business and plans to beef up its board in a bid to rebuild its damaged relationship with the UK government. Hyman, who has stepped down with immediate effect, said it had become clear that the best way for
Read moreSerco wins five-year extension to Dubai Metro contract
24th Oct 2013 07:50
International services company Serco Group has signed a five-year extension to its contract with the Dubai Government Roads and Transport Authority (RTA) to continue to operate and maintain the Dubai Metro. The extension, which is valued at around £355m, also carries the opportunity to extend for a
Read moreLondon close: Stocks rally on hopes over 11th-hour deal in Washington
16th Oct 2013 16:24
Stocks swung sharply into positive territory on Wednesday afternoon with the FTSE 100 hitting a four-week high on that US leaders can come to a deal to raise the debt ceiling before tomorrow's deadline. Despite a weak start, the FTSE 100 finished up 22.48 points at 6,571.59, its highest level since
Read moreLondon midday: Stocks slip as optimism over US deal begins to fade
16th Oct 2013 11:45
London's FTSE 100 pulled back from a three-week high on Wednesday morning as a deal to avert a US default remained elusive with just one day to go before the government hits its borrowing limit. Matt Basi, Head of UK Sales Trading at CMC Markets, said that the proximity of the deadline was "giving
Read moreLondon open: US uncertainty pulls FTSE 100 back from three-week high
16th Oct 2013 08:44
UK markets opened lower on Wednesday morning, pulling back from a three-week high, as optimism over a deal in Washington to avert a default began to fade. The FTSE 100 in London was registering small losses early on after hitting 6,549 on Tuesday, its highest level since September 24th. Stocks on
Read moreWednesday broker round-up UPDATE
16th Oct 2013 08:26
Anite: Northland Capital reduces target price from 160p to 120p, while staying with its buy recommendation. Panmure Gordon cuts target price from 177p to 142p and keeps a buy recommendation. Jefferies takes target price from 160p to 110p, while leaving its buy recommendation unchanged. Canaccord Gen
Read moreSerco awarded position on 4.1bn dollar US Army contract
7th Oct 2013 14:54
Outsourcing group Serco has reportedly been awarded a position on the United States Army Communication´s 4.1bn dollar multiple award IDIQ contract. That follows a report in The Sunday Times that the company is the subject of a probe into its biggest Government contracts in the United Kingdom, incl
Read moreSunday newspaper round up: Serco, Tesco, consumer spending
6th Oct 2013 17:32
Serco is the subject of a probe into its biggest Government contracts, the Sunday Times reported. The deals include a 1.5bn pound contract to manage the Atomic Weapons Establishment, a 55m pound school inspections contract with Ofsted and services for the Child Maintenance Group. About a quarter of
Read moreLondon pre-open: FTSE to track US markets lower
4th Oct 2013 07:35
City sources predict the FTSE 100 will open around 20 points lower than yesterday's close of 6,449.04, tracking US markets which finished around one per cent lower on Thursday as the government shutdown entered its third day. Markets are hoping that Congress will agree to raise the $16.7tn debt li
Read moreSerco sells UK occupational health business
4th Oct 2013 07:06
Serco, the FTSE 250 international service company, has completed the sale of its UK occupational health business, a move which forms part of the group's strategy to take a more proactive management of its portfolio. The sale was made for a consideration of £3.5m. For 2012, the financial result o
Read moreTuesday broker round-up UPDATE
17th Sep 2013 08:56
Aggreko: Credit Suisse reduces target price from 2000p to 1400p and downgrades from neutral to underperform. Antofagasta: WH Ireland downgrades to neutral. Associated British Food: Nomura moves target price from 1650p to 1670p staying with its reduce rating. Aviva: Berenberg downgrades from hold
Read moreCoca-Cola HBC joins FTSE 100
12th Sep 2013 10:05
Coca-Cola Hellenic Bottling Company confirmed on Thursday it will be joining the FTSE 100 and FTSE All-Share indices. The world's second-largest Coca-Cola anchor bottler, based in Greece, will be included on the indices from close of business on September 20th. This promotion comes after the comp
Read moreSerco prisoner escort review gets underway
11th Sep 2013 09:53
Serco Group, the security company which at the end of August was forced to call police after discovering the misreporting of data by 'a small number of employees', said Wednesday that a review was now underway. The review relates specifically to Serco's Prisoner Escort and Custody Services (PECS)
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