Retail fund sales set to smash through the £25bn mark in record-setting year January 31, 2010 RETAIL fund sales are expected to top £25bn in a year for the first time ever. Figures to be released by the Investment Management Association tomorrow will set a new record for sales. The industry surpassed the previous record sales of £17.7bn – set in 2000 – as far back as September, when sales reached [...]
Premier Foods chairman will quit after six years January 31, 2010 THE chairman of Premier Foods, Britain’s biggest food producer, will step down after six years in charge of the embattled company. David Kappler will formally announce his intention to quit at the company’s annual meeting in May. He was brought in to guide the company after it floated on the stock exchange in 2004. He [...]
Poll: private equity to face a bleak future January 31, 2010 THE private equity industry could face years in the wilderness according to an industry poll. Despite a glut of big money deals over the past week, more than two thirds of deal makers said the industry could take years to recover from the financial crisis, according to Private Equity News. Experts say private equity firms [...]
DON’T CRY FOR ME January 31, 2010 Argentina’s central bank President Martin Redrado has resigned after a standoff with the government over its plan to use $6.6bn (£4.1bn) in reserves to pay debt due this year.
Toyota finds a way to unstick pedals January 31, 2010 TOYOTA, the carmaker, has come up with a solution to fix the millions of cars it recalled because their accelerator pedals could become stuck, dealers and a US federal official have said. Word of the move came as French car maker Peugeot said it was recalling cars it built with Toyota at a plant the [...]
Amazon profits soar thanks to book reader January 29, 2010 AMAZON profits surged by 71 per cent in the final three months of 2009. The online bookseller said its Kindle electronic book reader had driven the sales boom. The device – Amazon’s bestselling product – will face competition from Apple’s new iPad, which was unveiled this week. Overall sales at Amazon – which now offers [...]
House prices start 2010 with a lift January 28, 2010 HOUSE prices jumped bye 1.2 per cent in January compared with the previous month, according to figures from the Nationwide Building Society. The average UK home costs £163,481, following the ninth monthly property price rise in a row. Nationwide’s chief economist, Martin Gahbauer said figures which showed the UK economy had come out of of [...]
Debenhams appoints new chairman January 28, 2010 DEBENHAMS has appointed Nigel Northridge as its new chairman to replace John Lovering. The company said Northridge – currently chairman of betting group Paddy power – will step up to the role on 1 April Lovering had chaired the retailer since 2003 and led its flotation on the London Stock Exchange in 2006. Northridge is [...]
EasyJet lands EMI Music executive January 28, 2010 EasyJet has appointed EMI Music executive Chris Kennedy as its new finance director. Kennedy, chief investment officer and president of EMI Music’s corporate development unit, will replace interim chief financial officer Mark Adams. The budget airline has been trying to fill the role for nine months after the airline’s previous chief financial officer, Jeff Carr, [...]
Tories: We won’t split big banks January 28, 2010 TORY Treasury chief George Osborne yesterday moved to reassure bankers that his party had no plans to break up large banks. Speaking at the World Economic Forum annual meeting in Davos, Osborne made it clear that the party had no intention of backing a return to the 1930s Glass-Steagall Act that at the time prevented [...]