Broker ICAP’s profits slashed by Libor fine November 13, 2013 PROFITS at ICAP fell by more than 40 per cent in the first half of the year, the broker reported yesterday, thanks to a £54m Libor fine. Pre-tax profit came in at £40m, down from £68m in the same six-month period of last year. But the underlying picture was stronger – operating profits increased six [...]
Rise in floats and LCH.Clearnet boost London Stock Exchange November 13, 2013 THE LONDON Stock Exchange Group is enjoying a market bounce at home and abroad, with revenue boosted by its recent purchase of the LCH.Clearnet clearing house. Chief executive Xavier Rolet said yesterday a spate of companies listing in London will add further fuel to the British economy. “The firms that are listing on our markets [...]
3i shares drop as Bramson’s fund bows out November 13, 2013 ELEVEN months after declaring a stake in private equity group 3i, Edward Bramson has left the company mystified again by selling out for a £50m net profit. Bramson’s Sherborne Investors, known for forcing strategy changes at F&C, sold and hedged out of its five per cent holding yesterday at 367p per share, up 38 per [...]
Bwin gaming group hit by Greek internet block November 13, 2013 ONLINE gambling group Bwin.party said yesterday that blocks by Greek internet service providers would hit earnings this year. “In Greece, despite an outstanding infringement notice issued by the European Commission, ISP blocking since August 2013 has, in contravention of EU law, continued to restrict customers from accessing over 400 online gaming sites, including those of [...]
Stock Spirits gets Diageo distribution deal in 2014 November 13, 2013 NEWLY-listed premium vodka distributor Stock Spirits Group reported strong volume growth yesterday while a new distribution agreement with Diageo will see it become the exclusive seller of the producer’s drinks in the Czech Republic. “Our two portfolios are very complementary and this will certainly strengthen our position at the more premium end of the market,” [...]
Esure adds policies as price war rumbles on November 13, 2013 INSURANCE group Esure yesterday said it has gained customers amid a car insurance price war and that is on track to hit full-year forecasts. The firm behind the Sheilas’ Wheels and Esure brands said gross written premiums were up 4.8 per cent in the year to date to £427m, though the pace slowed to 1.7 [...]
WANdisco appoints UBS as new corporate broker November 13, 2013 WANDISCO, the software company that specialises in distributed computing solutions, announced yesterday the appointment of UBS as its joint corporate broker. UBS will join Panmure Gordon which operates as the company’s current broker and nominated advisor. WANdisco said the change was due to its ongoing US expansion as the London-listed company continues its rapid growth. [...]
SSE defends its dividend ahead of bill increase November 13, 2013 SSE YESTERDAY posted a rise in profits and defended its decision to hike its dividend, mere days before an 8.2 per cent increase to customers’ bills will take effect. The FTSE 100 energy firm reported pre-tax profits of £336.4m for the six months to 30 September, a sharp increase from losses of £40.9m the previous [...]
Renewables policy blamed for decline in E.On and GDF profits November 13, 2013 GERMAN energy firm E.On yesterday narrowed its full-year earnings forecast, after posting a 19 per cent decline in earnings for the first nine months of the year. The integrated energy firm, which supplies power across Western Europe, blamed government support for renewables over conventional forms of energy for the decline. An increase in renewables has [...]
Co-op Energy ups pressure over green tax November 13, 2013 INDEPENDENT energy provider Co-operative Energy put further pressure on the government yesterday by reducing its planned price increase, on the expectation that green levies will be removed from customers’ bills. Last month the firm announced a 4.5 per cent increase to customers’ energy bills, which it has now cut to 2.5 per cent. The government [...]