Citi researcher nabs top gong at award dinner May 29, 2014 IT WAS an intimate affair for Sammons Associates last night as it held its annual Equity Research Award dinner at 1 Lombard Street. Unfortunately two of the four winners couldn’t make it so Allianz Global Investors chief Elizabeth Corley presented the cups to just two winners, Terry Sinclair of Citigroup, who took the large cap [...]
No go for Bojo as he gets stuck on roof of St George’s Hospital May 29, 2014 BORIS Johnson had a lofty start to yesterday when he went to launch south London’s new hospital helipad in Tooting. It is the first London helipad south of the Thames and comes after St George’s Hospital was designated a major trauma centre in 2010. The Mayor had a good time larking about in the red [...]
Taxman claims nearly a third of an average pensioner’s income May 29, 2014 TYPICAL pensioners are paying 30 per cent of their modest incomes to the Exchequer, contributing £45.6bn in total, according to a report released today. Prudential, one of the world’s biggest providers of life insurance and pensions, says that the average retired household paid £6,400 in tax during the 2011-12 financial year, from a gross income [...]
Investment banks suffering as bond trading revenues fall again May 29, 2014 THE WORLD’S biggest banks are taking a beating from diving bond trading revenues, analysts at JP Morgan warned yesterday. Revenues in fixed income, currencies and commodities (FICC) trading are set to fall by another 19 per cent in the second quarter compared with the first three months of the year. And compared with the same period [...]
Ford recalls nearly 1.4m vehicles in America May 29, 2014 FORD yesterday said it is recalling 1.39m SUVs and cars in the US, most for the possible loss of power steering. As of mid-April, Ford said it was aware of 15 accidents, including two minor injuries believed to be related to the loss of power steering in Explorer SUVs. The accidents all involved vehicles moving [...]
British Gas boss Weston hired as Aggreko chief May 29, 2014 CENTRICA yesterday confirmed that the head of its supply arm British Gas will be leaving to join Aggreko, meaning that it now has to find replacements for its top three executives. The FTSE 100-listed energy giant said that Chris Weston has tendered his resignation to become chief executive of Aggreko, the temporary power provider, subject [...]
Virgin Galactic cleared by US for launches May 29, 2014 RICHARD Branson’s Virgin Galactic took one small step towards its goal of commercial space flight yesterday after agreeing with US flight authorities on a flight path for its space shuttles to use. The flight path from Virgin Galactic’s multi-million dollar US base Spaceport America has been approved by the Federal Aviation Administration (FAA) to provide [...]
Severn Trent hikes dividend as profits soar May 29, 2014 SEVERN Trent yesterday unveiled a 7.1 per cent rise in pre-tax profits, slightly ahead of market expectations, but ongoing negotiations with the regulator over its spending plan continue to overshadow the water company. New chief executive Liv Garfield, who joined eight weeks ago, said the FTSE 100 firm was in “constructive dialogue with Ofwat” over [...]
Analyst Views: What did you make of Severn Trent’s results? May 29, 2014 ANGELOS ANASTASIOU | WHITMAN HOWARDSevern Trent Water appears to be on track with no surprises, and Severn Trent Services is performing in line with the updated guidance in the company’s statement from 14 February. However, of greater interest remains the outcome of the price control review and potential takeover attractions. JAMES BRAND | DEUTSCHE BANKSevern [...]
Shares slump at Kingfisher after earnings miss May 29, 2014 KINGFISHER’S shares fell nearly five per cent yesterday after first quarter profits fell short of City expectations, despite its B&Q chain delivering its best performance in a decade. The group, which also owns Screwfix and Castorama in France, said underlying operating profits increased by 20.3 per cent to £142m in the 13 weeks to 3 [...]