Randgold shares soar as investors rush to gold and its profits treble August 4, 2011 Randgold Resources saw a 6.6 per cent surge yesterday as spooked investors rushed to gold-focused stocks as a safe-haven asset. The bounce came as profits at the West African-focused miner more than trebled in the second quarter on strong gold prices, higher production and a resurgence in sales from the Ivory Coast. Profits jumped to [...]
Shaftesbury sees Olympic boost August 4, 2011 Real estate investment trust Shaftesbury, the owner of over 500 restaurants, shops and bars in London’s West End, said next year’s London Olympic Games would drive up rental income and dividends. The company said improvements to public areas and transport links in the Leicester Square and Piccadilly Circus areas of the city would increase visitor [...]
EasyJet passenger numbers up August 4, 2011 Passenger numbers continue to grow at low cost airline easyJet, with total numbers for July up eight per cent on the year before. The company said 5.4m people flew in July, up from 5.02m a year earlier. In the full 12 months to the end of July, easyJet said total passenger numbers were up 12 [...]
Slow progress at Enterprise Inns August 4, 2011 Average income at pubs group Enterprise Inns rose just one per cent from a year ago in the 18 weeks to April, it said yesterday. The company blamed the slow growth on a difficult comparative period last year, including the FIFA World Cup.
Investec bids for Evolution August 4, 2011 SOUTH African asset management group Investec confirmed it was the mystery bidder for City broker and wealth manager Evolution Group yesterday. Evolution sparked a flurry of speculation on Wednesday when it said it had received an early stage takeover approach, with banks such as Societe Generale and Royal Bank of Canada named as potential acquirers. [...]
MPs want answers from Morgan August 4, 2011 FORMER Daily Mirror editor Piers Morgan has “very serious questions” to answer about his newspaper’s role in the hacking scandal, according to media select committee chair John Whittingdale. However, the committee has no plans to call Morgan in for a grilling unless more evidence emerges. Heather Mills has alleged the Mirror hacked her phone. Meanwhile, News [...]
CITY VIEWS: DO YOU THINK PIERS MORGAN SHOULD COME BACK TO THE UK TO ANSWER QUESTIONS ABOUT THE PHONE HACKING SCANDAL? August 4, 2011 PAUL MEADOWS | CHADLEY HOUSE TRAINING “Yes, it is definitely worthwhile; although he doesn’t necessarily need to be questioned in the UK. He was in a position of authority at the time and needs to take responsibility for what happened on his watch.” GARY DUNION | SYSTEMS ACCOUNTANTS “No, I do not think that he [...]
Sale boosts AIG growth August 4, 2011 BAILED-OUT insurer American International Group reported a profit for the second quarter yesterday, as tax benefits and its one-third stake in Asian insurer AIA offset a decline in operating income at its main businesses. AIG reported a net profit of $1.84bn (£1.1bn), compared with a year-earlier loss of $2.66bn. The company’s chief executive also confirmed [...]
AXA earnings quadruple on gains from asset sales August 4, 2011 AXA, Europe’s second-biggest insurer, said yesterday that first-half net income quadrupled, beating forecasts, helped by €1.44bn in one-off gains related to asset sales. AXA said its net income for the six-month period rose to €3.999bn from €944m in a year-ago period that was depressed by a €1.478bn exceptional loss. The net result, boosted by gains [...]
Schroders gets £5.1bn new work August 4, 2011 Fund firm Schroders said clients representing a better-than-expected £5.1bn of net new business have backed the firm to help them ride out stormy investment markets. The blue chip asset manager reported a 15 per cent rise in profits yesterday. Its assets under management rose to a record £204.8bn in the first half of a year.