Updates from Npower, Intertek and Aggreko
There was a 41-point boost for the FTSE 100 on Thursday, taking it to 6,102.5, an 0.68% climb in total. StandardChartered, helped by a US Fed rate rise and the announcement of new boss, Simon Cooper, climbed 7.2% to 549p; there was a 4.1% gain to 1130p for Inmarsat while OldMutual and HikmaPharma also returned solid rises, up 4.1% and 3.2% to 171.80p and 2217p. Another dismal day though for miner AngloAmerican, plunging 5.2% to 263.55p.
The Dow Jones fared poorly in comparison, down 1.4% - a 253-point drop - to 17,495.8. Crude oil prices were under pressure and poorer manufacturing data didn't help. In total the Dow is up 230.6 points on the week so far however.
We start with a rap on the knuckles for energy player Npower and a £26m penalty charge for poor customer service. Energy watchdog Ofgem says inaccurate billing hit half a million customers between September 2013 and December 2014 last year.
Ofgem says Npower customers do not need to do anything as Npower will contact those who have been worst affected. Npower boss Dermot Nolan acknowledges that Npower's behaviour was unacceptable.
"The payment of £26m," says Ofgem, "sends a strong message to the industry that we expect them to act quickly and effectively to ensure a good customer experience."
Next, mobile generator player Aggreko says it will not be bidding for any contracts for the Rio de Janeiro Olympic games. Aggreko cites concern about preparation times and other logistical concerns; the organisers are under pressure to keep to budget.
There is also disappointment that the bidding process has been broken up - Aggreko has been advised it was not awarded any of the first tranche of contracts.
"We have," says Chris Weston, Aggreko Chief Executive, "given considerable thought to our decision to withdraw from the bidding process and I would like to thank our team for all their hard work."
Lastly, Intertek says it's buying Food International Trust (FIT), an Italian company specialising in assurance services to the retail and agricultural sectors in food quality and safety assessments.
Intertek claims FIT-Italia is the only Italian company accredited to deliver the IFS Food Store Inspection program - an initiative developed and recognised by the Global Food Safety Initiative (GFSI).
"With its key accreditations, leading competencies and strong track record of customer service delivery, we are delighted," says Intertek chief exec André Lacroix, "to welcome FIT-Italia and its excellent team to Intertek."
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