Former FSA chief joins Barclays as head of compliance December 12, 2012 Barclays has appointed former Financial Services Authority chief Hector Sants as head of compliance and government and regulatory relations. Sants, who will join the executive committee of Barclays, will report directly to chief executive Antony Jenkins. The former City watchdog boss will oversee all compliance activities across Barclays, including all regions in which the bank [...]
FTSE 100 edges up on US stimulus hopes December 12, 2012 The blue chip index ticked slightly higher in early deals this morning, staying above the important 5,900 level, underpinned by expectations of more stimulus measures from the Federal Reserve at a meeting later today. Anglo American pushed up the index in early trading. The miner added more than 1.5 per cent on the back of [...]
UK employment hits record high December 12, 2012 The number of people in work reached a record high of 29.6m over the three months to October, official data from the Office for National Statistics showed this morning. It marked an increase of 40,000 on the previous three months and a jump of almost 500,000 on the year previously. The employment rate was 71.2 [...]
Kcell raises $525m in IPO December 12, 2012 Kazakhstan mobile phone operator Kcell has raised $525m (£326m) in its London and Almaty-based IPO for parent company TeliaSonera, the company said this morning. The IPO, in which Kcell floated a 25 per cent stake, was priced at $10.50 per global depositary receipt and 1,578.68 Kazakhstan tenge per ordinary share, the company said. The price [...]
Carillion on track for year as it snaps up Canadian firm December 12, 2012 Support services firm Carillion said this morning it was on track to deliver a “robust” full-year performance, adding that the value of its pipeline is expected to be larger than previously thought by the year-end. Carillion, which maintains roads, railways and military bases, said in a trading update that revenue will be lower this year [...]
Profit edges up at SuperGroup December 12, 2012 SuperGroup, the owner of the Superdry fashion brand, this morning posted a 13 per cent rise in first-half profit, shrugging off a series of profit warnings in the previous year. Underlying pre-tax profit came in at £14.7m over the six months to October, edging up from the £13m it posted made over the same period [...]
Kcell IPO fully covered ahead of subscription deadline December 11, 2012 Kazakhstan-based mobile telecoms group Kcell has its book largely covered ahead of closing on its London float later today, according to sources close to the situation. It is understood orders are flooding in from Kazakhstan, with the possibility that the book could be oversubscribed. The news will provide a welcome boost to London’s struggling market [...]
Three arrested in Libor probe December 11, 2012 Three British men have been arrested by the Serious Fraud Office in connection with the investigation into Libor manipulation. The men, aged 33, 41 and 47, were arrested at residential addresses in Essex and Surrey. They are the first people to be arrested in connection to the alleged manipulation of borrowing rates in London. Martin [...]
FTSE flat as Tullow Oil sinks December 11, 2012 The blue chip index was broadly flat in early trading this morning, as explorer Tullow Oil, which this morning said it was to acquire a Norwegian exploration company and dispose of its North Sea operations, dropped almost five per cent. Miners ENRC and Kazakhmys dropped 2.64 per cent and 1.86 per cent respectively on the [...]
Ashtead posts record first-half profit December 11, 2012 Industrial equipment hire firm Ashtead today posted record first-half profit of £141m this morning, as it lifted profit expectations for the full year. First-half profit for Ashtead, which makes 85 per cent of its revenue from US arm Sunbelt, was up 64 per cent from £84m over the same period last year. Revenue over the [...]
