NAB prepares to kick start consolidation December 17, 2009 NATIONAL Australian Bank (NAB) chief executive Cameron Clyne yesterday admitted it has received approaches about using its Clydesdale and Yorkshire operations to lead a banking consolidation drive in Britain. Speaking to shareholders at the institution’s annual meeting Clyne said: “We have been approached by a number of players in the UK market to see how we [...]
Google in £14m Doubleclick hit December 17, 2009 INTERNET search giant Google absorbed £16m losses on its acquisition of three companies including DoubleClick, the online advertising network, City A.M. can reveal. Google’s UK subsidiary took on £9.8m of liabilities, thought to be outstanding loans, as part of its $3.1bn (£1.9bn) purchase of DoubleClick Europe in 2008. The California-based technology monolith lost another £2.2m [...]
ITV deputy chairman joins boss Grade in heading for exit from broadcaster December 17, 2009 ITV’s veteran deputy chairman, Sir George Russell, will step down after six years since merging Carlton and Granada to create ITV. Russell, 74, was a close ally of outgoing executive chairman, Michael Grade. Grade said he would leave in September after pay disagreements with ex-BSkyB chief executive, Tony Ball, who was at one point in [...]
Inchcape upbeat on 2009 but cautious on next year December 17, 2009 CAR dealer Inchcape said yesterday it expected to end 2009 slightly ahead of its view, as it benefitted from strong demand for new cars in the UK during the second half of the year, but remained cautious about 2010. The group, which sells and distributes cars for manufacturers including BMW, Mercedes-Benz, Honda and Toyota in [...]
BEST OF THE BROKERS December 17, 2009 CARLSBERG Evolution Securities yesterday said it did not anticipate any significant change in its numbers after Carlsberg upped its guidance for 2009 earnings from “at least DKK9bn” to “at least DKK9.3bn”. It said the brewer’s increase in beer shipments for the fourth quarter were effectively being borrowed from the first quarter of 2010. MCBRIDE Numis [...]
CITY MOVES | WHO’S SWITCHING JOBS December 17, 2009 Aviva The insurance giant has appointed Gary Price as marketing director of its UK business. Price will be responsible for customer insight, strategy, brand, sponsorship, communications and corporate responsibility across the UK’s life and general insurance businesses. He was most recently responsible for the reattribution of the inherited estate at Aviva, having joined the business [...]
SUITOR LIES IN WAIT AS HOODLESS PLANS FOR A CHANGE OF SCENERY December 17, 2009 THINGS are hotting up over at broker Hoodless Brennan, which I hear is currently in the final throes of negotiating a move from its current Canary Wharf HQ back to the quainter environs of the Square Mile. The brokers at Hoodless, which plans to shack up on Finsbury Pavement some time early next year, are [...]
No festive joy for shaky Hammers against Blues December 17, 2009 WEST HAM vs CHELSEA SUNDAY, 4.00PM SKY SPORTS 1 THE Premier League has been something of a baptism of fire for Gianfranco Zola and he has certainly suffered more than his fair share of bad luck. Financial crises and key injuries have caused big problems for the Hammers and the way they capitulated at Bolton [...]
Retail sales fall dampens hopes of festive boost December 17, 2009 The Christmas shopping season has got off to a slow start, with retailers reporting a fall in sales volumes in November, dampening hopes of a bumper festive period on the high street. Figures from the Office for National Statistics (ONS) showed that retail sales volumes unexpectedly fell by 0.3 per cent in November. Department stores [...]
Bank of America appoints Moynihan as new chief December 17, 2009 BANK of America has promoted Brian Moynihan to be its new chief executive with the task of nursing the conglomerate back to health. The appointment of Moynihan – who heads the bank’s retail division – follows the retirement of Kenneth Lewis. His promotion comes after the bank posted two quarterly losses in the past year [...]