BEST OF THE BROKERS June 28, 2009 KESAJP Morgan analysts believe that Kesa offers investors a restructuring story with the potential to deliver around 100 per cent earnings per share growth over two years. The broker views the firm’s continued investment in new markets as a positive, especially as it has been achieved with a capex reduction. It remains “overweight” on the [...]
CITY MOVES WHO’S SWITCHING JOBS June 28, 2009 Securities and Investment InstituteAlan Fleming, an associate at investment management firm JM Finn, has been elected president of the Yorkshire branch of the Securities and Investment Institute (SII). Fleming, 53, joined JM Finn in 2003 and continues to be involved with the management of client portfolios after 25 years in the investment management industry. He [...]
Optimism is increasing for finance firms June 28, 2009 CONFIDENCE in the prospects for the financial services sector has risen for the first time in two years, with many parts of the industry expecting business volumes to rise in the next quarter, according to a study published today. But the latest Financial Services Survey by the Confederation of British Industry (CBI) and PricewaterhouseCoopers shows [...]
ECONOMIST VIEWS: IS IT TOO SOON TO SAY THE FINANCIAL SECTOR IS ON THE ROAD TO RECOVERY? June 28, 2009 HOWARD ARCHER GLOBAL INSIGHTI would expect there to be a gradual improvement, but the whole sector is still very vulnerable to set backs. I am not convinced that reform is going to happen to the extent that the Bank of England would like, and I think it will be a long time before we are [...]
How London City Airport’s veteran boss is keeping his sights set high June 28, 2009 Whenever you meet Richard Gooding, London City Airport’s relaxed-looking chief executive, you can’t help feeling he has seen it all before – and after clocking up 42 years in the airline business, he probably has. Aged just 18, Gooding left rural Suffolk to work as an apprentice for British European Airways – which later became [...]
Cycles that mean business June 28, 2009 FIRST there was the Tube strike, and now a heatwave. Travelling on London’s un-airconditioned, heat-trap of an underground system has never been less appealing. So this is a perfect moment to take to two wheels. Since keen cyclist Boris Johnson became mayor there have been rumblings about making cycling in London more attractive and less [...]
JETTING OFF June 25, 2009 JET REPUBLIC, the private jet company run by Jonathan Breeze, is slashing its Learjet prices by $1m (£600,000), it said yesterday, as part of a part-ownership buy-back programme. The scheme, which is trying to win interest from cash-strapped clients, allows members to fly up to 200 hours per year without paying hourly fees.”
M&A fees up for first time in 12 months June 25, 2009 THE global banking industry will be able to breathe a sigh of relief today after new data showed that investment banking fees rose in the second quarter of this year for the first time in 12 months. According to preliminary data from Thomson Reuters, investment banks have raked in $16bn (£9.8bn) so far this quarter, [...]
Nationwide is most trusted June 25, 2009 NATIONWIDE, the UK’s largest building society, is also its most trusted financial brand, according to Moneywise magazine. The publication’s inaugural Customer Service Awards also saw Swiftcover take the gong for most trusted motor insurer, while Liverpool Victoria was deemed the most reliable home insurer and Legal & General scooped the award for income protection providers. [...]
Premier Foods FD stands down June 25, 2009 Premier Foods, Britain’s biggest food manufacturer, said yesterday its finance director Paul Thomas would leave the company later this year to seek new challenges and that it had started the search for his successor. The group, whose brands include Mr Kipling cakes, Bisto gravy, Hovis bread and Branston pickle, said Thomas would step down shortly [...]