Virgin Media customers are spending more as the firm mulls a London listing August 6, 2009 VIRGIN Media yesterday said it had narrowed its losses after customers spent more on its services and that it was in talks about listing in London later this year. The firm said its net loss had narrowed to £49m from a £449m loss a year later, when the firm was forced to take a writedown [...]
Cost cutting aids profits for Thomson Reuters August 6, 2009 NEWS and financial data publisher Thomson Reuters reported a better-than-expected second quarter profit yesterday, helped by cost cuts. The firm stood by its forecast that revenue would grow in 2009 and that its profit margin would be similar to last year’s as markets stabilise. However, chief executive Tom Glocer said that the fallout from the [...]
Aviva plans Dutch listing of Delta Lloyd August 6, 2009 INSURER Aviva saw its shares rocket yesterday after it said profits recovered strongly in the first half as it unveiled plans to offer 25 to 30 per cent of its Dutch unit Delta Lloyd to markets in a move that could raise €1bn (£855m). Shares of the firm surged by 9.7 per cent after the [...]
RSA boosts dividend despite a massive drop in its profits August 6, 2009 RSA INSURANCE yesterday posted pre-tax profits down 24 per cent in the first half of the year, as it unveiled a seven per cent dividend hike that it said underlines its positive outlook. The general insurer, which operates the “More Than” brand in the UK, posted profits of £301m, compared to £395m made in the [...]
Panmure seals QInvest deal August 6, 2009 CITY stockbroker Panmure Gordon yesterday completed a share deal with QInvest that will see Qatar’s largest investment bank take a 47.1 per cent in the firm when its new shares are admitted to trading on Aim this morning. QInvest subscribed for 67.5m shares in Panmure at 34p a share, raising around £23m of capital for [...]
Bank decision boosts market as the bankwagon rolls on August 6, 2009 THE LARGE-CAP index closed higher yesterday, driven by strength from banks after the Bank of England (BoE) surprised markets by expanding its quantitive easing plan to £175bn. The FTSE 100 closed 43.40 points higher, or 0.9 per cent, at 4,690.53, after hitting a fresh 2009 intraday high of 4,729.58 following the BoE announcement. The BoE [...]
SocGen duo in insider probe August 6, 2009 FRANCE’s market watchdog began an insider trading probe against two Société Générale executives, including high-flying Jean-Pierre Mustier, who announced his resignation from the French bank yesterday. SocGen said it had been told by Mustier and non-executive director Robert Day that they had each been advised by the French financial regulator of insider trading proceedings against [...]
Caution the order of the Wall St day August 6, 2009 US stocks fell yesterday as investors turned cautious a day ahead of a crucial government report on July employment, and took profits after recent strong gains. The stock market’s second day of declines came on the heels of a four-day rally that pushed US indexes on Tuesday to close at their highest levels since last [...]
Schroders hit by profit fall but assets up August 6, 2009 FUND management giant Schroders yesterday reported a 73.2 per cent pre-tax profit fall in the first half of the year, although the firm also said investments had put £3.9bn into its funds in the period. The group said pre-tax profits after exceptional items were £36.3m, sharply lower than the £135.7m profits last year, due to [...]
Easyjet rides financial storm August 6, 2009 BUDGET airline easyJet, the orange-branded carrier founded by Sir Stelios Haji-Ioannou, yesterday said its aircraft were fuller and that it saw an increase in its airline traffic last month, as demand for bargain flights holds up despite the slump. The company flew 4.66m passengers in July, up from 4.47m in the same period last year. [...]
