Euromoney continues to see its subscribers decline January 21, 2010 EUROMONEY, the business publisher, said yesterday trading was in line with expectations although its subscriber numbers were still falling. Sales for the three months to 31 December dropped to £71m, while subscription-based products fell four per cent to £35.7m as cutbacks made by business customers in the first half of 2009 worked their way through [...]
Festive cheer at Enterprise as sales rally January 21, 2010 PUB group Enterprise Inns yesterday reported improving sales after many of its struggling licensees saw a long-awaited upturn in business. The UK’s second largest pub company said average net income per pub declined by four per cent in the 16 weeks to 16 January – compared to eight per cent in the last financial year. [...]
Sky was right to buy ITV stake despite losses January 21, 2010 WHEN BSkyB bought a 17.9 per cent stake in ITV for £940m in 2006, Rupert Murdoch was hailed a genius. For it was Rupert – not son James – who masterminded the move, even if the latter took public credit for it. In one foul swoop, the mogul blocked the newly merged NTL / Telewest [...]
BlueBay sees renewed credit appetite January 21, 2010 INDEPENDENT fixed-income fund manager BlueBay Asset Management said yesterday that investors had flocked to the credit markets over the past quarter as assets under management soared 10 per cent higher. Assets under management at the group beat analyst forecasts as they rose to $34.3bn (£21.3bn) over the three months to December, boosted by net inflows [...]
BEST OF THE BROKERS January 21, 2010 UK MAIL Seymour Pierce reckons UK Mail had a good Christmas and has upgraded its full-year profit forecasts for 2010 as a result. The broker notes UK Mail shares had a strong rise at the end of last year thanks to the postal strikes but have slipped to a level which looks under-rated. It has [...]
CITY MOVES | WHO’S SWITCHING JOBS January 21, 2010 Berwin Leighton Paisner The law firm has appointed James Duncan as a partner, tasked with launching a standalone derivatives practice for the firm. Duncan has been at rival Linklaters since 1997 and specialises in derivatives and structured products. He recently advised audit firm PwC on the administration of Lehman Brothers. He has also worked with [...]
Goldman Sachs profits jump January 21, 2010 US bank Goldman Sachs has seen its net profits jump in the fourth quarter. The company made $4.95bn (£3.06bn) between September and December, compared with a loss of $2.12bn in the same period in 2008. Goldman said it will have a $16.19bn compensation and benefits pot for the whole year – up 48 per cent [...]
London Stock Exchange sees drop in revenue January 21, 2010 LONDON Stock Exchange Group Plc has posted a 9 per cent fall in revenue for its third quarter and said it expected market conditions to be testing for the current quarter. LSE, like other European exchanges, has been losing market share to upstart multilateral trading facilities (MTFs) such as Chi-X and BATS since pan-European regulation [...]
Enterprise Inns sees sales lift January 21, 2010 PUB group Enterprise Inns reported improving sales after many of its struggling licensees saw a long-awaited upturn in business. The UK’s second largest pub company said average net income per pub declined by 4 per cent in the 16 weeks to 16 January – compared to 8 per cent in the last financial year. Shares [...]
Morrison beats rivals with festive sales boost January 21, 2010 SUPERMARKET chain Morrison posted the biggest rise in Christmas sales among Britain’s top four grocers – but urged caution about 2010. Sales at stores open at least a year rose 6.5 per cent, excluding petrol and VAT, in the six weeks to 3 January. Total revenue rose by 10.8 per cent for the period. Morrison, [...]