Segro reports market stability November 5, 2009 Segro Europe’s largest industrial landlord said yesterday its capital values have stabilised in the UK while lettings and lease renewals for the nine months ended in September settled at 6.7 per cent below valuers’ estimated rental values. Segro, which bought rival Brixton in August, reported that its vacancy rate excluding the Brixton portfolio improved from [...]
Rok results to meet forecasts November 5, 2009 Property repair and maintenance specialist Rok said yesterday that its full year results are in line with expectations. The firm saw success in having won 48 new appointments in 2009, totalling over £700m to underpin its future revenues. The group said it would focus on its strategy of favouring of higher margin, lower risk contracts.
Soco says it’s robust financially November 5, 2009 Soco International reported yesterday that its balance sheet remains strong with a cash and liquid investment balance of over $310m (£187m). Soco is exploring offshore in the Republic of Congo and onshore in the Democratic Republic of Congo, as well as planning a 12-month exploration programme in the Cuu Long basin off Vietnam starting in [...]
CITY MOVES WHO’S SWITCHING JOBS November 5, 2009 Association of British InsurersThe ABI has appointed Kerrie Kelly, currently chief executive of the Insurance Council of Australia (ICA), as its new director general, effective from next February. Kelly has led the ICA since 2006, having formerly been CEO of the country’s Financial Planning Association. She is currently a non-executive director at HSBC in Australia, [...]
RSA reports an overall rise but UK slumps November 5, 2009 RSA Insurance, the motor and commercial insurance giant, yesterday reported a four per cent rise in premiums over the first nine months of 2009 amid signs of recovery in its international and emerging markets businesses. RSA, formerly known as Royal & Sun Alliance, said net written premiums were £5bn compared to £4.85bn at the same [...]
Man Group funds down as institutional investors pull out in search of liquidity November 5, 2009 MAN Group, the world’s biggest hedge fund, has continued to bleed funds over the past six months as institutional investors seeking liquidity outweighed a resurgence in personal investment. Man’s funds under management were down six per cent to $44bn (£26.5bn) in the six months to 30 September and 41 per cent lower over a 12-month [...]
SUITS YOU SIR November 5, 2009 SHIRTMAKER TM LEWIN yesterday showed it was shrugging off the slump, reporting record sales as City workers sharpen their suits in a competitive environment. The retailer said sales rose 11 per cent to £38.2m in the 26 weeks to 29 August. Underlying profits in the year to the end of February rose 16 per cent [...]
BNP Paribas books 45pc rise in profit November 5, 2009 INVESTMENT banking and acquisitions helped France’s BNP Paribas to beat forecasts with higher third-quarter profits, but it was silent about whether it may buy parts of ailing British banks. Assets bought by BNP?from Fortis boosted the eurozone’s second-largest bank after Spain’s Santander, as well as taking investment banking and wealth management market share from rivals [...]
Toyota in profit but in for a bumpy ride November 5, 2009 TOYOTA’S surprise quarterly profit and halving of its annual loss forecast failed to convince investors the world’s biggest carmaker is back on track, as government subsidies peter out and a strong yen takes its toll. Major Japanese automakers have raised their forecasts for the year to March 2010 as they squeeze out savings and government [...]
Holiday-goers turn to EasyJet November 5, 2009 EASYJET, the orange-crested no-frills carrier, said it carried 6.6 per cent more passengers in October than the same month last year. Seeking to scrimp even as the UK emerges from the economic slump, 4.22m passengers flew with EasyJet last month, despite the airline having made a series of cost cutting measures last month. EasyJet’s load [...]