CITY MOVES WHO’S SWITCHING JOBS June 10, 2012 Vestra Wealth Management David Campbell (right) has been appointed managing partner at the London and Jersey-based wealth management firm. He was most recently at Deutsche Bank, where he ran its UK private wealth management division. Campbell also served as managing director and head of fixed income at both JP Morgan and Deutsche Bank. M&G Investments [...]
BEST of the BROKERS June 10, 2012 J SAINSBURY Shore Capital rates the retailer “hold” with a target price of 288p ahead of the firm’s first quarter trading statement on Wednesday. The update will provide the first glimpse of how the big supermarkets fared during the Diamond Jubilee, and the broker suggests that the wet weather could have dampened the expected sales [...]
Good marketing can be as impossible as trying to read minds June 10, 2012 THE blond haired, middle-aged PR guru slouched back in his armchair and confidently announced his “stunning” idea to me. The little girl, Madeleine, had recently disappeared in Portugal and there was massive public sympathy and frenzied press coverage. To my sensitive agent, struggling to justify his hefty monthly fees, this represented a fantastic opportunity. “A [...]
Wiggins defends Criterium title June 10, 2012 Britain’s Bradley Wiggins underlined his status as one of the favourites for this summer’s Tour de France by successfully defending his Criterium de Dauphine title yesterday. In a great race for Team Sky, the 32-year-old’s colleagues Michael Rogers and Chris Froome finished second and fourth overall.
Weak commodity stocks undermine FTSE June 8, 2012 Britain’s benchmark share index fell back on Friday after a two-day rally earlier in the week, as heavyweight mining stocks were hit by fresh fears over the global economy and traders sold off positions ahead of a possible weekend bailout deal in Spain. The blue-chip FTSE 100 closed down 0.2 per cent at 5,435.08 points. [...]
Housebuilder Bellway enjoys strong sales June 8, 2012 Housebuilder Bellway announced today that it had enjoyed a “resilient” spring selling season, with visitor levels and reservation rates having surpassed expectations. This successful period meant that Bellway’s target set at the beginning of the financial year of achieving 5 per cent volume growth is now “secure”. Reservations increased following the introduction of government scheme [...]
UBS “rogue trader” granted bail June 8, 2012 Former UBS trader Kweku Adoboli, who is accused of unauthorised deals that cost the Swiss bank $2.3bn (£1.5bn) has been granted bail at Southwark Crown Court. Adoboli, who denies charges of fraud and false accounting relating to the loss, was arrested last September. He was previously denied bail in February. Friday’s bail application was heard [...]
easyJet passenger growth accelerates June 8, 2012 Budget airline easyJet has announced that it carried 5,423,726 passengers in May, an increase of 14.4 per cent on the same month last year. This allowed it to boast a load factor – how full its planes are – of 88 per cent, an increase of 3.9 percentage points. The firm’s rolling totals show 56,884,857 passengers [...]
GSK extends deadline on Genome bid June 8, 2012 GlaxoSmithKline has extended its $2.6bn offer to buy long-time partner Human Genome Sciences until the end of June as it battles the US biotech company’s reluctant management. The price remains unchanged at $13 a share under the longer tender, which will now expire at 5 p.m. New York time on 29 June, Britain’s biggest drugmaker [...]
Demonstrations threaten fuel supply June 8, 2012 Britain’s fuel supplies may be disrupted after workers at an Essex oil refinery threatened to demonstrate on Monday in an attempt to convince the government to save the plant. The move comes after administrator PwC, which been handling the sale of the Coryton plant, indicated the difficulty of finding a potential buyer for the threatened [...]