Northern Rock unveils surge in mortgage loans November 4, 2009 NORTHERN Rock saw improved trading in the third quarter, with encouraging trends on bad loans, and forecast a “significant improvement” in the second half of the year. But the state-owned lender, which is being split into two in readiness for a sale, warned that conditions in the mortgage and housing markets remained subdued. “House price [...]
City discrimination claims surge as recession bites November 4, 2009 SEX and the City. Why is it that the phrase slips so easily off the tongue? Long before Candace Bushnell wrote her tales of single women in New York, the words were a regular feature in newspapers, frequently entwined like so many bonking bankers. As Aviva boss Andrew Moss tries hard to shift the focus [...]
Adidas looks to 2010 for a sales upturn November 4, 2009 SEX and the City. Why is it that the phrase slips so easily off the tongue? Long before Candace Bushnell wrote her tales of single women in New York, the words were a regular feature in newspapers, frequently entwined like so many bonking bankers. As Aviva boss Andrew Moss tries hard to shift the focus [...]
JP Morgan Securities settles with the SEC over Jefferson County charges November 4, 2009 JP Morgan Securities has agreed to pay $75m (£45m) to settle charges in an unlawful payment scheme in the sewer financing of Jefferson County, the Securities and Exchange Commission (SEC) said yesterday. The agency said JP Morgan Securities will pay a penalty of $25m and pay the Alabama county, which includes the city of Birmingham, [...]
Marsh tops all analyst profit hopes November 4, 2009 MARSH & McLennan (MMC), the second-largest global insurance broker by assets, posted a better-than-expected quarterly profit as significantly lower expenses offset a decline in revenues. Third-quarter net income was $221m, (£133.3m) or 41 cents a share. That compares with a net loss of $8m, or two cents a share, a year earlier, when results were [...]
LULA LINKS WITH LONDON November 4, 2009 BRAZILIAN president Luiz Inacio Lula da Silva arrived in London yesterday for a two-day investment aimed at attracting investment in the South American country. While here, he will have an audience with the Queen, Prime Minister Gordon Brown and receive an award from think-tank Chatham House for “the most significant contribution to the improvement of [...]
Brokers back in High Court November 4, 2009 INTER-dealer broker BGC Partners yesterday said rival Tullett Prebon’s ploy to obtain a lengthy injunction against the recruitment of its staff was an unprecedented attempt to block competition in the industry, as the two resumed their bitter battle in the High Court. Tullett is seeking an injunction to prevent BGC from negotiating any forward contracts [...]
Job cuts for BmibabyJob cuts for Bmibaby November 4, 2009 BMI’S new boss Wolfgang Prock-Shauer kicked off his leadership of the airline with a bang yesterday, announcing 158 job losses at the carriers budget arm, Bmibaby. Cabin crew, pilots and management will be hit at Birmingham, Manchester and Cardiff airports as the airline restructures, with 82, 54 and 22 jobs going respectively. Operations will be [...]
Selling Opel would leave ‘serious gap’ November 4, 2009 GENERAL Motors directors narrowly opted to retain Opel instead of selling the European unit to a group led by Canada’s Magna International because they believed losing it could have left a significant gap in its operations, a senior GM executive said yesterday. John Smith, a group vice president and chief negotiator in the Opel restructuring, [...]
Ad falls hit revenues at NewsCorp November 4, 2009 NEWS Corp last night reported lower revenues because of advertising declines at its television stations and newspapers, while profit rose because of a stronger performance at its cable television, film and book units as well as cost cuts. The international media conglomerate’s first quarter 2010 net income was $571m (£344m), or 22 cents a share, [...]
