“Aviva still has issues” says boss as profits rise March 6, 2014 Aviva has reported a six per cent rise in operating profit for 2013, to £2bn. Chief executive Mark Wilson said the businesses’ turnaround is “intensifying”, adding, however, that he wants to “guard against complacency”. Shares have, however, leapt over eight per cent in trading this morning. Source: Google The London-based insurer saw cash flows up [...]
Betfair plans to double TV voice as mobile revenue booms March 6, 2014 Online gambling company Betfair has reported a boom in mobile revenue of 68 per cent and now represents 60 per cent of Sportsbook revenue. The company's interim management statement for the three months ended 31 January 2014 showed a rise in revenue of five per cent driven by a 12 per cent jump in sustainable [...]
Any Other Business – 06/03 March 6, 2014 MEMBERS of the newly launched Golden Network, a new community aimed at the finance industry, galvanised their support last night when it put on a Hennessy Cognac tasting at McQueen in Shoreditch. City goers from the likes of Santander, RBS and JP Morgan and others popped along to taste the distiller’s finest with Moët brand [...]
Asian markets rise as Ukraine tensions ease March 6, 2014 Asian markets are rising on the back of fresh diplomatic efforts to ease tensions between Ukraine and Russia. Although there has been no resolution to the crisis, investors took heart from US secretary of state John Kerry's remarks that talks between Washington and Moscow would continue in the coming days. EU leaders yesterday agreed a [...]
British Banks defy Brussels over pay March 5, 2014 BRITAIN’S biggest banks defied Europe yesterday, handing out almost £1m more to their chief executives to avoid Brussels’ incoming bonus cap. Lloyds and Barclays unveiled plans to pay top staff new allowances, topping up their salaries in a bid to make sure they do not leave for higher bonuses in other parts of the world. [...]
Lloyds and Shell warn on Scotland March 5, 2014 LLOYDS Banking Group and oil giant Shell have become the latest in a line of major firms to reveal fears about the risks of Scottish independence yesterday. “The outcome could have a material impact on compliance costs, the tax position, and cost of funding for the group,” Lloyds said in its annual report, with a [...]
EU agrees €11bn Ukraine bailout as UN envoy is threatened March 5, 2014 EU LEADERS yesterday agreed a larger than expected €11bn (£9bn) potential financial bailout package for Ukraine at an emergency Paris summit. European Commission president Jose Manuel Barroso said the assistance, to be discussed by European Union leaders at a summit in Brussels today, would depend on the new Ukrainian government instigating widespread reform, as well [...]
Top finance boss backs forced pensions savings March 5, 2014 BLACKROCK chief executive Larry Fink weighed in on the UK’s grim savings outlook yesterday, suggesting the government make pensions saving compulsory, removing the option for workers to opt out of schemes. Fink, whose firm is the world’s biggest money manager with $4 trillion under management, said otherwise there was “too much risk that people will [...]
Fears of carbon bubble as fossil fuel’s value rises March 5, 2014 STOCK markets could be inflating a carbon bubble by over-valuing companies with fossil fuel assets, MPs warned today. “Financial stability could be threatened if shares in fossil fuel companies turn out to be overvalued because the bulk of their oil, coal and gas reserves cannot be burnt without further destabilising the climate,” said Joan Walley [...]
FTSE reshuffle firms revealed March 5, 2014 BARRATT Developments and St. James’s Place are joining the FTSE 100, according to an announcement yesterday, as Amec and Tate and Lyle fall out of the index. Property firm Barratt has been buoyed by a burst of activity in construction, and its share price has nearly doubled in the past year. Heritage Oil, Infinis Energy [...]