Tips from the press
In the Times, Tempus won't be drawn on whether
The firm, which makes components for knee and hip replacements has cut overheads, paid down debts and is doing well in the BRIC economies. But Tempus thinks the only real progress on the shares (currently trading at eight times forward earnings) will be from merger and acquisition news (Last IC rating: Hold, 3 Feb).
The hotels company,
The Chairman Kwek Leng Beng still owns 54 per cent of the firm which is not usually a good sign but the UK and Singapore markets are improving and the company may be able to snap up some hotels that banks have ended up owning after insolvencies (Last IC rating: Hold, 22 Feb).
NB: no Telegraph or Independent tips at time of writing
Business press headlines:
America's largest nuclear generator has been approached by a consortium bankrolled by the Chinese Government to rescue Britain's flagging reactor building programme, The Times has learnt. Exelon would operate up to six new reactors on two sites in Anglesey and Gloucestershire if the estimated £15bn cost of building them can be found. The German energy giants E.ON and RWE pulled out of the Horizon joint venture in March, leaving Britain's energy policy in tatters. The Government has been scouring the globe for new backers and could be forced to accept a bailout from a Chinese state-owned group to revive the venture. Chinese involvement would be hugely controversial and could be blocked by British regulators over safety fears. China's State Nuclear Power Technology Corporation (SNPTC) had offered to stump up more than half of Horizon's costs before E.ON and RWE pulled out. In return, SNPTC and the Japanese nuclear group Toshiba wanted a 60 per cent stake in the venture with the Germans owning the rest.
Wealth among Britain's homeowners will not return to pre-recession levels until 2019, as almost 1m highly indebted "zombie" households hold back recovery, a leading think tank has warned. The National Institute of Economic and Social Research (NIESR) said the main drag on wealth in Britain would be house prices, which it forecast would fall by an average of 1.5 per cent every year for the next five years, accounting for inflation. The warning came as Nationwide said on Thursday that average house prices fell by 0.2 per cent in April to £164,134, following a 1 per cent fall in March. It was the fourth fall in five months, and prices were 0.9 per cent lower compared with April 2011, The Telegraph says.
Pay is poor and the hours are long, but there is job security, fresh air and as much pecorino cheese as you can eat. As Italy's unemployment rate topped 10 per cent this week, it emerged that young people are flocking to become shepherds. Traditionally the preserve of older men, the profession has recently attracted 3,000 young Italians, according to agricultural body Coldiretti. They are choosing a simple life in the great outdoors because their aspirations to become doctors, lawyers or engineers have been thwarted by Italy's negligible economic growth, which has been compounded by grinding austerity measures, according to The Telegraph.
British satellite technology chiefs are pledging to bring something of
The board of
A shareholder revolt has prompted Sly Bailey to quit
Read today's Market Overview - a round-up of today's company announcements.
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