CITY VIEWS: SHOULD PUBLIC SECTOR WORKERS BE STRIKING OVER REDUNDANCY PAY? March 8, 2010 ASHLEY FINESILVER | AUSTRALIA BANK “I can see their point and think they have a right to go on strike provided it is for the right reasons and they are not being greedy. There are two sides to every story and redundancy pay is a very sore issue for everyone including those in the private [...]
Alico sale to MetLife gets the go-ahead March 8, 2010 METLIFE is to significantly bolster its international footprint after finalising plans to buy one of AIG’s foreign life insurance units, American Life Insurance Company (Alico) for $15.5bn (£10.2bn). The US insurance giant announced the deal yesterday and will pay $6.8bn in cash and a further $8.7bn in MetLife equity securities for Alico. “With this acquisition, [...]
What business can learn from the Avon lady March 8, 2010 LAST week I spoke to a convention of Avon sales representatives about being an “accidental” business person. The theme seemed to resonate. Many in the predominantly female audience were achieving business objectives without having ever really considered themselves to be “in business”. If you want to set yourself up in business with Avon, you can [...]
Chaucer moves into profit and looks to relocate thanks to “high” UK taxes March 8, 2010 Chaucer, the Lloyd’s of London insurer, has reaffirmed plans to move offshore by 2011 due to high UK corporate taxes. The announcement by chief executive Bob Stucherry came on the same day that the Group reported a pre-tax profit of £42m in 2009, compared with a loss of £26.2m the year before. Analysts said the [...]
Stagecoach revenues are back on track March 8, 2010 STAGECOACH revenues from fares at its rail businesses grew last year while poor weather hit its bus services. Like-for-like revenues at the transport company’s British rail services were up 2.1 per cent in the 40 weeks to 7 February. Meanwhile, Virgin Rail, in which it owns a 49 per cent stake, saw sales growth of [...]
BEST OF THE BROKERS March 8, 2010 LEGAL & GENERAL Nomura has reiterated its “buy” recommendation on Legal & General (L&G) ahead of its results. Nomura expects strong half- year results and have upgraded their earnings dividend forecasts. Nomura said last week there was a positive step towards the removal of a solvency threat to L&G’s annuity book. WPP Royal Bank of [...]
Hurricane specialist gears up for growth after stormy 2009 March 8, 2010 HURRICANE insurance specialist Chaucer had a stormy 2009. It raised £75m in a share placing; fought off two takeover bids; saw private equity house Pamplona become its biggest shareholder; and cleared out the boardroom. Luckily, the hurricane season was unusually calm, helping the Lloyd’s insurer back into the black. Gross premiums also rose by five [...]
McDonald’s sales rise on Asian demand March 8, 2010 MCDONALD’S reported a better-than-expected 4.8 per cent rise in February sales at established restaurants as Asia helped offset softness in the US?and Europe. New menu items, Olympic sponsorships and the company’s introduction of a $1 breakfast value menu in the US helped the world’s biggest hamburger chain surpass forecasts for same-store sales growth of 3.9 [...]
The results of our first poll are in March 8, 2010 THE markets are panicking about the outcome of a general election that is just weeks away, but we decided to find out what our readers think. Will a Conservative government fix the economy or is Labour the only party that can be trusted with the recovery? And what would a hung parliament mean for the [...]
Barker: Hiking rates would not have eased recession March 8, 2010 MONETARY policy could not have done very much more to alleviate the depth of the recession, monetary policy committee (MPC) member Kate Barker said in her final speech before she steps down at the end of May. She said it would have been difficult to pinpoint the level of rates to keep the expansion of [...]