Heat is on as SSI steels itself for production
AN important milestone at a North-East steelworks has been reached with stoves being heated up that will enable the blast furnace to fire back into production in the upcoming weeks.
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Filtronic upbeat as it expands US operations
A NORTH-EAST electronics firm has announced that it will recruit more staff in the upcoming months as it targets new markets in the US.
Search about to be launched for North-East entrepreneur
THE search is about to be launched to find the next star entrepreneur from the North-East
Manufacturing should provide the real X-factor for young says Greggs boss
YOUNG people need to be inspired to look at rewarding careers in manufacturing rather than aiming to “get rich quick” as popstars or musicians, one of the North-East’s leading business figures said last night.
Student shows importance of ‘cadet’ style training with B&Q
A SIXTH form student has been building on the benefits of a ‘cadet’ style scheme at one of the country’s largest DIY chains.
Fred Goodwin stripped of knighthood
FORMER RBS chief executive Fred Goodwin has had his knighthood cancelled and annulled, the Cabinet Office said today.
Finishing line "within sight" for reopening of Teesside steel plant
MOST of the work needed to restart production at a giant steel plant has been completed and the finishing line is now within sight.
Former Amdega workers launch new venture
FORMER workers at a defunct conservatory manufacturer have launched a new business that aims to fly the flag for North-East craftsmanship.
Steel boss points to importance of opportunities for young people
With the Northern Echo launching its Foundation for Jobs programme last week, to create a working future for our young people through internships, apprenticeships and a ‘cadet’ scheme Business Editor Owen McAteer talks to Tata Steel Long Products director Jon Bolton which ran its own successful pilot cadet initiative
Historic building firm turns to 21st Century technology to boost business
A FIRM specialising in the conservation of historic buildings and work on high level structures has started 2012 by making a major investment in its 21st Century marketing techniques, to drive its growth.
Bailout banks boosted by deposits
Bailed-out banks gained almost €1bn (£0.8bn) of ordinary Irish deposits at the expense of foreign lenders in December, new figures reveal.
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Rates deal on empty shops to be offered
A new policy which gives rates relief to those who occupy long-term vacant shops – the first of its kind in the UK – has been launched.
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Refinery reopens but no oil comes
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A third stressed over downturn
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Bailout banks boosted by [...]
Shoppers dip into savings to cut debts
Consumers cut their debts at the fastest rate in two decades during December amid signs they dipped into savings to pay for Christmas.
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Refinery reopens but no oil comes
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A third stressed over downturn
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Bailout banks boosted by deposits
A third stressed over downturn
More than a third of people in the UK feel stressed by the economic downturn, rising to 43% of those aged 18 to 24, a poll has found.
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Refinery reopens but no oil comes
Tesco’s share of market drops to seven-year low
Shoppers dip into savings to cut debts
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Tesco’s share of market drops to seven-year low
Supermarket giant Tesco saw its share of the grocery market dip below 30% for the first time in nearly seven years as it struggled to compete with low-cost rivals, new figures have shown.
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Refinery reopens but no oil comes
A third stressed over downturn
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Refinery reopens but no oil comes
An oil refinery which collapsed into administration is operating at only 30% capacity amid continued concerns about job losses, it has been claimed. Union sources said there had been no deliveries of crude oil at the Coryton refinery in Essex for days even though petrol delivery trucks started leaving the site last week following [...]
More cash, more stress for workers
Workers are more productive and prosperous than when the Queen came to the throne 60 years ago, but stress has increased, millions of manufacturing jobs have been lost and there has been a huge increase in part-time employment, according to new research by the Chartered Institute of Personnel and Development.
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Tesco’s share of [...]
Profits at carpet retailer floored by downturn
The trading woes of the country’s largest floor-covering retailer have showed no signs of easing after it issued a fresh profits warning.
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Apple poaches top retail boss
A retail boss credited with helping PC World and Currys stores survive the downturn has been poached by technology giant Apple to run its shop portfolio.
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Honda earnings see sharp drop
Battered by a strong yen and supply disruptions due to Thailand’s floods, Honda said net earnings in the October-December quarter fell 41% to 47.6bn yen (£395.5m) and projected a fall in full-year profits.
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PROACTIVE NEWS SUMMARY: Xcite Energy, Hummingbird Resources, ECR Minerals, GoldStone Resources, Synchronica
The first main article of the day by Proactive Investors was dedicated Xcite Energy (LON:XEL) after the UK Department of Energy and Climate Change (DECC) confirmed its support for its field development plan for the Bentley oilfield.
Xcite expects the DECC to approve phase 1 of the development in the near future.
Xcite will then be [...]
Views from the Trading Floor 1st February
Saints & Sinners
Oil & Gas
Aurelian Oil & Gas (LON:AUL) pushed 3% better to 17p before lunch, on almost 3 times the average daily volume, after the company gave an update on its Siekierki project and strategic review. The RNS made for interesting reading to be fair, with the main highlight being, the Board believes that [...]
Gold rises as US dollar falls on manufacturing data
Gold was on the rise today as stronger than expected manufacturing data that was released in China and Europe reduced demand for the safe haven US dollar, an alternative investment to the yellow metal.
China’s official PMI index for January came in at 50.5, indicating that the manufacturing sector in the world’s second largest energy consumer [...]
Broker Roundup Pt 2 including Hummingbird Resources, Lonrho, Xcite Energy and The Real Good Food Company
Online grocer Ocado Group (LON:OCDO) is rated a ‘buy’ today by Goldman Sachs, which said that expansion plans for the distribution centre and customer services issues were key to the firm’s prospects.
Full year EBITDA stood at £27.9 million, which implied margin of 4.7 per cent, was in line with the investment bank’s expectations, said analyst [...]
Well, what a January…
Well, what a January. Markets did all right and considering January is usually pants I think most of us would take that. Actually the Ftse only went up 2% in the month but I reckon the wider market shares did a lot better than that. The FTSE is powering up today very nicely and things [...]
Oil prices rise on strong manufacturing data, Iran concerns
Stronger than expected manufacturing data that was released in China and Europe today lifted demand for oil futures in London and New York.
China’s official manufacturing figures revealed an unexpected increase in industrial activity in the world’s second largest oil consumer. The government’s PMI index for January came in at 50.5, an increase from 50.3 in [...]
Synchronica receives firm offer from Swiss group – Update
- adds broker comment
Shares in mobile messaging group Synchronica (LON:SYNC) slipped back as Swiss rival Myriad unveiled an all share takeover bid.
Synchronica fell 1.67p to 10.58p as Myriad confirmed there would be no cash element in the deal.
The Swiss firm’s all-paper bid is worth 13p per share, valuing Synchronica at about £20.6 million.
A merger would [...]
FTSE 100 rallies, Dow Jones and S&P 500 rise in early trade – UPDATE
UK stocks rallied this morning after getting a boost from stronger than expected Chinese manufacturing data, which showed that industrial activity in the world’s second largest economy picked up last month.
China’s official PMI index for January, which was unveiled this morning, beat forecasts, showing an increase from 50.3 in December to 50.5 last month. Readings [...]
Petroceltic has diversified asset base with game changing’ potential, says Daniel Stewart
City broker Daniel Stewart today initiated coverage on Petroceltic International (LON:PCI) with a 13.7p price target.
The broker says the firm has a well diversified asset base that has ‘game changing’ potential, this is reflected by a punchy price target which implies nearly 70 per cent upside from the current price of 8.2p a share.
In Algeria [...]
FTSE 100 rallies on strong Chinese and European data
UK stocks rallied this morning after getting a boost from stronger than expected Chinese manufacturing data, which showed that industrial activity in the world’s second largest economy picked up last month.
China’s official PMI index for January, which was unveiled this morning, beat forecasts, showing an increase from 50.3 in December to 50.5 last month. Readings [...]