Market Report
Kier takes over Carillion projects, wins further contracts
Property, residential, construction and services group Kier updated the market on its infrastructure and regional building businesses on Monday, including the transfer of HS2 and Highways England smart motorway projects from the defunct Carillion.
Workspace to buy Centro Buildings in Camden
Workspace has exchanged contracts to buy five of the Centro Buildings in Camden, London, for £109m.
BGEO's Bank of Georgia wins top award for second year running
BGEO Group announced in an update on Monday that its banking business subsidiary, JSC Bank of Georgia, has been recognised as the ‘Best Trade Finance Bank’ in Georgia in 2017 by Global Finance for the second consecutive year.
National Grid upbeat on Niagara Mohawk rate plan proposal
National Grid announced on Monday that, following the rate case filing in April last year, both it and the New York Public Service Commission (NYPSC) have filed a joint proposal for a three-year rate plan settlement for the Niagara Mohawk Power Corporation electric and gas distribution utility.
Compass sees effective tax rate cut to 24% on US changes
FTSE 100 catering company Compass said on Monday that changes to the US tax system will cut its effective tax rate from 26. 5% to around 24%.
GKN lifts eDrive sales forecasts as it fends off Melrose bid
Having rejected a £7bn hostile bid from Melrose Industries last week, GKN sought to highlight its potential as a standalone entity on Monday, lifting sales forecasts for its electric driveline (eDrive) business.
London pre-open: Stocks to edge lower as investors mull US government shutdown
London stocks were set for a slightly weaker open on Monday as investors mulled the US government shutdown, although losses were likely to be minimal.
Smiths to sell John Crane, Ocado wins second overseas deal
London open The FTSE 100 is expected to fall around 16 points on Monday.
Smiths Group to sell John Crane's Bearings business
Smiths Group has agreed to sell its John Crane's Bearings business to private Austrian company Miba AG for an enterprise value of $35m.
Monday newspaper round-up: Carillion, EI Group, Softbank, Dignity
The development charity Oxfam has called for action to tackle the growing gap between rich and poor as it launched a new report showing that 42 people hold as much wealth as the 3. 7 billion who make up the poorest half of the world’s population. In a report published on Monday to coincide with the gathering of some of the world’s richest people at the World Economic Forum in Davos, Oxfam said billionaires had been created at a record rate of one every two days over the past 12 months, at a time when the bottom 50% of the world’s population had seen no increase in wealth.