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After last week’s massive losses on the stock market, shares in London endured another jittery session today. While the FTSE 100 Index managed a slight gain in the opening minutes, that was soon followed by another wave of selling. It slipped again a little more than 30 points to around 6284. With the Eurozone looking increasingly weak and China’s growth slowing, investors just can’t see too many reasons to be buyers of the stock market right now. Expect the wobbles to continue.
We all remember the brilliant scenes of 2012 in the Olympic Stadium, but that temple of sport is back in the news again for the wrong reasons. The troubled engineering firm Balfour Beatty is currently in the process of converting it into a football stadium for West Ham United. But the project’s hit a serious snag. Last month they found serious problems with the steel work in the stadium roof amid other complications. Balfour is now demanding an extra £50m to complete the job. That’s £50m on top of the £154m Balfour agreed to do the job for. It’s the same old story for this company.
Still on a sporting theme, shares in Adidas jumped this morning on reports a $2.2bn bid could be coming in for its Reebok brand. Believe it or not, Reebok traces its roots back to Bolton in 1890 when its founders invented the first ever spiked running shoe. It’s changed many times since then, and now is set to get a bid from a group of investors including the Abu Dhabi government and a Hong Kong private equity firm.Reuse content