John Laing Infrastructure plays down risks to public revenues August 28, 2012 JOHN Laing Infrastructure Fund yesterday talked down the risks that government policy shifts on public-private partnerships (PPP) posed to the fund as it reported a further £53.5m of asset purchases this year. The fund said material risks to the portfolio from any government policy changes on public-private initiatives were lessened by the coalition’s commitment to [...]
New wholesale boss at Standard Chartered August 28, 2012 ALEX Manson is now Standard Chartered’s group head of wholesale banking geographies, after 12 years at Deutsche Bank. He joined on 13 August and will be based in London, although the main operations are based in the Middle East, Africa and Asia. The bank has had a tough month, paying a US regulator $340m (£215m) to settle [...]
L’Oreal profits rise 11 per cent August 28, 2012 L’Oreal, the world’s biggest cosmetics maker, posted an 11.4 per cent increase in its first-half operating profit yesterday, helped largely by its luxury products and still expects to outperform the market and grow profits and sales this year. Earnings before interest and tax reached €1.897bn (£1.5bn) while its operating margin widened to 16.9 per cent [...]
Bank of Montreal beats estimates August 28, 2012 Bank of Montreal yesterday reported a 37 per cent jump in quarterly profit, topping estimates, helped by the acquisition of US bank Marshall & Illsley, and raised its quarterly dividend. BMO, Canada’s fourth-biggest lender, said it earned C$970m (£621.2m) for the third quarter ended 31 July, compared with C$708m a year earlier.
Scotiabank gains on office sale August 28, 2012 Bank of Nova Scotia’s quarterly profit rose 57 per cent on the back of a gain from the sale of the corporate headquarters in Toronto, and Canada’s third biggest lender raised its quarterly dividend. Toronto-based Scotiabank said yesterday it had earned C$2.1bn (£1.3bn) in the third quarter ended on 31 July, compared with C$1.3bn a [...]
City Moves | Who’s switching Jobs August 28, 2012 Ludgate Investments The private equity investor has appointed Dr Bernard Bulkin and Ekaterina Sharashidze as non-executive directors. Bulkin joins from Vantage Point Capital Partners. In addition to his extensive investment experience, Bulkin is a professorial fellow at Cambridge University. Sharashidze has over 15 years’ experience in private equity and joins from Samena Capital, where she [...]
Best of the Brokers August 28, 2012 MAX PETROLEUM Merchant Securities has changed its recommendation on the Kazakh-focused oil & gas company to “sell” from “hold” and lowered its targetr price on the stock from 4.8p to 3.1p following a writedown of 2.7m barrel reserves and knock-on effect of the reduction on half-year resevre figures. The broker is also concerned that there [...]
FTSE flat as gloomy forecasts from Japan highlight worldwide slump August 28, 2012 BRITAIN’S top share index ended flat yesterday, with the market stagnating as expectations for economic stimulus measures were countered by concerns over global growth, which was reinforced by gloomy forecasts from Japan. The government in Tokyo cut its economic assessment yesterday, citing the impact of a slowdown in the United States and China on top [...]
Trading light in US as investors wait on the Fed August 28, 2012 US stocks ended little changed in another day of scarce activity yesterday after mixed economic data gave investors little reason to shift their focus from Federal Reserve chairman Ben Bernanke’s speech on Friday. The Fed chief is scheduled to address a conference of central bankers in Jackson Hole, Wyoming, and could announce new measures to [...]
Why a flair for storytelling is vital if you want others to follow you August 28, 2012 EVERYONE tells stories. It’s one of the ways we connect with our friends and families. It’s how we impress people when we apply for jobs, or sell business products to potential customers. Telling stories is also what we do on Facebook and Twitter, and is even part of how we go about finding a partner. [...]
