Regatta is loved by all August 8, 2012 ABERDEEN Asset Management Cowes Week is a unique event, and a quintessentially British one, steeped not only in nautical history but held in the highest regard by many sailors all over the world. The international nature of Cowes Week is something that greatly appealed to us as global asset managers when initially agreeing the sponsorship. [...]
French use sour grapes for GB whine-making August 8, 2012 FRANCE has not exactly covered itself in glory in its somewhat peevish reaction to Great Britain’s utter domination of track cycling at London 2012 – and it seems they just won’t let it go. First came suggestions from crestfallen French cycling chiefs that the success of Sir Chris Hoy and Co could be down to [...]
LONDON 2012 IMAGE OF THE DAY August 8, 2012 Throughout the Olympics, City A.M. will be publishing its Olympic Image of the Day. If you have a shot you think our readers will like, please email pictures@cityam.com SARAH Attar of Saudi Arabia became only the second woman from the country to ever compete at an Olympic Games yesterday, after running in the first round [...]
CITY VIEWS | CAN THE OLYMPICS LEAVE A LASTING LEGACY? August 8, 2012 GREG MURRAY LLOYDS It depends on how well the site is integrated and the transport links are maintained. If we continue to fund our sports well then further success is guaranteed in the future. MALCOLM BIRD RR DONNELLY I think that much of the Olympic buzz will fade after the Games. But the Olympic park [...]
Old Mutual coy over plans for Nedbank sale August 8, 2012 INSURER Old Mutual saw its share price hit a three-month high yesterday after revealing a 12 per cent rise in profits and plans to expand into sub-Saharan Africa. Chief executive Julian Roberts said that the firm would boost its footprint in East and West Africa to combat, “sustained low growth. The firm, based in South [...]
Eurozone debt damages profit at bailed-out bancassurer ING August 8, 2012 BAILED-OUT banking and insurance group ING yesterday posted a 22 per cent fall in quarterly net profit to €1.17bn (£923m) yesterday, missing forecasts as the cost of restructuring and the Eurozone financial crisis took their toll. The Dutch firm has cut its exposure to Spanish debt from €41.4bn to €34.9bn since the start of the [...]
Fannie Mae makes $5.2bn profit August 8, 2012 FANNIE Mae yesterday reported a quarterly profit due in part to stronger home prices and said the mortgage financier did not need additional taxpayer funds to stay solvent, the second consecutive quarter the company did not request help since it was seized by federal authorities during the financial crisis. Fannie Mae said net income for [...]
Bupa hurt by rising cost of UK healthcare August 8, 2012 HEALTHCARE provider Bupa yesterday said a lack of competition among UK private hospitals had contributed to a 22 per cent fall in profits in its European and US businesses. Posting a £35m profit for its UK, Spanish and US operations, down from £45m last year, Bupa said this lack of competition was pushing up the [...]
Cobham orders hit by row in US August 8, 2012 BRITISH defence technology group Cobham said US budget disputes and the impending presidential election have hit order books, as the company cut its earnings forecast. Shares fell six per cent on the news, as Cobham reported a five per cent drop in revenue to £892m and a 10 per cent fall in profits to £90m [...]
Cathay Pacific posts worst half since 2003 as fuel costs surge August 8, 2012 CATHAY Pacific Airways yesterday posted its worst first-half loss since 2003, surprising investors with complaints of weak cargo traffic, high fuel costs and a fall in premium passengers. Hong Kong-listed Cathay, which issued a profit warning in March, reported a net loss of HK$935m (£77m) for the six months to the end of June, its [...]
