Trade insurers see 2009 claim numbers jump April 11, 2010 TRADE credit insurers dealt with record numbers of claims last year as the UK faced one of the worst recessions in recent history. The total amount of paid out claims jumped by 95 per cent in 2009 to £320m as compared to the previous year when companies paid out £164m in claims. Figures from the [...]
UK Reader’s Digest saved by £13m bid April 11, 2010 BETTER Capital, Jon Moulton’s new turnaround private equity group, has saved Reader’s Digest magazine with an eleventh hour white knight bid. The UK arm of the 87-year-old publisher filed for administration in February, two weeks after the Pensions Regulator rejected a plan to plug the £125m hole in its savings fund. Better Capital said the [...]
What the Sound of Music tells us about bubbles April 11, 2010 NOW stay with me on this one – sometimes, insights into the financial markets come from unlikely sources. In my case, I was reminded of the dilemmas now facing policymakers while enjoying a yodel down memory lane, watching The Sound of Music. It was when I reached one particular verse that it came to me: “How [...]
Confidence returns to UK businesses April 11, 2010 CONFIDENCE amongst UK businesses about the future of the economy has surged to pre-recessionary levels for the first time since the crisis hit at the end of 2007, according to the latest report by accountancy firm BDO Stoy Hayward. BDO’s Optimism index jumped from 99.4 to 103.2 in March, a high not seen since the [...]
Companies still choosing to list on Aim despite alternative of Standard Listing April 11, 2010 THE number of companies choosing to float on the Alternative Investment Market (Aim) has remained robust despite fresh competition from the new Standard Listing on the London Stock Exchange (LSE). Standard Listing was introduced by the LSE in April last year and was expected to lead to a mass exodus of companies from the Aim [...]
Energy group BG puts two power plants up for sale April 11, 2010 BRITISH gas producer BG Group is understood to be preparing a retreat from the UK power sector by putting its power plants up for sale. Bidders are believed to have lodged first-round offers last week for two power stations put up for sale by the FTSE 100-quoted company. BG’s Ballylumford plant in Northern Ireland is [...]
BEST OF THE BROKERS April 11, 2010 ADIDAS Standard & Poor’s (S&P’s) has maintained a “buy” rating on sports group Adidas because it believes recent retail news flow reflects generally effective leverage of the Easter calendar effect, with March footfall higher than forecast. S&P says it continues to see the June FIFA World Cup supporting the Adidas brand. NANOCO Nanoco has been [...]
CITY BOSS JOINS BEAR GRYLLS ON ARCTIC TRIP April 11, 2010 IT ISN’T every day that a financier gets to ditch his day job for a few weeks and sail off into the sunset for the adventure of a lifetime with a self-confessed adrenaline junkie. Then again, how many City financiers can count Bear Grylls – the skydiving, creepy crawly-munching, elephant piss-drinking star of Channel 4’s [...]
BILL OF THE WEEK April 11, 2010 THINGS are clearly looking up for the business world, as this group of City gentlemen demonstrated last week with a luxurious private lunch at the top of the iconic Gherkin. Our diners opted for the eight-course tasting menu to sample the finest cuisine that Searcys had to offer, accompanying it with a comprehensive selection of [...]
Cadbury cafe chain to be launched April 9, 2010 CADBURY is set to launch a high street cafe chain under new owners Kraft. Up to 60 new outlets called Cadbury Cocoa Houses are to be set up across the UK, serving hot chocolate, afternoon tea and novelty chocolate gifts. The outlets will be up against the likes of Starbucks in the high street cafe [...]