Evolution reports leap in income May 18, 2010 WEALTHY clients are helping financial group Evolution cope with volatile markets, it said yesterday. The firm said income and operating profitability had both risen so far this year, although it did not say by how much. Assets under management at its private client division were up six per cent from December 2009 to £5.5bn pounds, [...]
Collins Stewart revenue up but market is still low May 18, 2010 COLLINS Stewart said its revenue was up 12 per cent to £63.6m for the first four months of the year. Assets under management at its wealth management business were £6.7bn at 30 April, up from £5.9bn at the end of 2009. Its UK securities business was hindered by poor equity market volumes during the four [...]
United fans urged to give up season tickets May 18, 2010 THE Manchester United Supporters’ Trust (Must) has reiterated its plea for fans to forgo their season tickets next season in a bid to force the club’s owners to sell up. A fan backed bid of around £1bn is thought to be in the final stages of preparation but the American Glazer family has consistently claimed [...]
iPad edition of GQ’s Men of the Year magazine nets the firm just $1,000 May 18, 2010 THE roaring success of Apple’s iPad has sent publishers into a frenzy as they attempt to cash in on the new technology. But a recent venture by GQ proves it is not necessarily the next stage of evolution for the print media industry. The magazine produced a special iPad edition of its annual Men of [...]
British Land assets rise by a quarter May 18, 2010 BRITISH Land has seen the value of its portfolio shoot up, off the back of a rapid rebound in real estate values. The developer of some of the UK’s biggest malls and offices said its assets increased by 27 per cent, the first full-year mark-up in its portfolio since the UK property bubble burst. “In [...]
Norilsk Nickel cost cutting measures put it back in black May 18, 2010 RUSSIA’S Norilsk Nickel has recorded a return to profit in 2009 thanks to a successful cost cutting programme. The world’s top nickel and palladium miner posted a net profit of $2.65bn (£1.83bn) versus a revised loss of $555m in 2008. The results beat forecasts despite lower metals prices, analysts said. “Labour expenses decreased by 25 [...]
Shell shareholders reject challenge to Canadian oil sands programme May 18, 2010 ANGLO-Dutch oil major Royal Dutch Shell’s shareholders yesterday rejected a resolution challenging the company’s multi-billion dollar investments in Canadian oil sands projects. At the company’s annual meeting, a provisional 94.26 per cent of investors voted against the proposal, which had challenged Shell on the financial risks that oil sands projects might pose. BP beat off [...]
Lonrho takes full ownership of African food supplier Rollex May 18, 2010 AFRICA focused investment group, Lonrho, has upped its stake and taken full control of Rollex. Rollex, based in South Africa, sources, prepares and packages food for transport to supermarkets across the globe, including the European consumer market. Lonrho already holds a 51 per cent interest in Rollex, but has agreed a deal with the trustees [...]
Jupiter stars in line for flotation reward May 18, 2010 FUND management group Jupiter is to put in place new long-term incentive plans to tie in its star employees following its proposed flotation on the London Stock Exchange next month. The move is intended as an additional motivational tool to retain its top-performing employees, including financial opportunities manager Philip Gibbs and his newly-recruited colleague Guy [...]
Harrods’ reputation lifted by Al Fayed’s sale May 18, 2010 YOUGOV’S BrandIndex has seen Harrods’ “buzz” score climb dramatically since Mohammed Al Fayed, the shop’s owner since 1985, sold the Knightsbridge shop for £1.5bn ($2.3bn) to the Qatari royal family’s investment company, Qatar Holdings. BrandIndex’s “buzz” score is calculated by taking the number of respondents who have heard something positive about a brand in the [...]