TPG extends GlobeOp timeline March 15, 2012 TPG, the US private equity house which wants to buy GlobeOp, has extended its offer period by a fortnight to 28 March. It is competing against fellow bidder SS&C Technologies for the hedge fund administrator, which is based in London and New York. Earlier this week SS&C, a US financial software firm, made a 485p-a-share [...]
Witan Trust sees dip in NAV March 15, 2012 Witan, the 103-year-old investment trust, said yesterday it had seen a disappointing 2011 as its net asset value (NAV) per ordinary share dipped and its performance fell below its benchmark index. NAV per ordinary share on a debt at par value fell from 584.4p to 516.9p – a 11.6 per cent drop. Share buy-backs fell [...]
Cable in bid to ease red tape at small firms March 15, 2012 A NEW “no fault” dismissal rule could be brought in to make it easier for very small firms to lay off unproductive staff, business secretary Vince Cable (pictured) said yesterday. Cable launched a consultation on proposals to allow firms with fewer than 10 staff to lay off staff more easily, though they would have to [...]
More than one in three on incapacity are declared fit March 15, 2012 MORE than one in three people claiming incapacity benefit are fit for work, according to the government’s first round of reassessments. Around 37 per cent of the 141,100 claimants given a fresh interview were found to be fit for work, while 34 per cent are eligible for benefits and help getting back to work, and [...]
Broadbent: high debt will not stop a rate rise March 15, 2012 HIGH levels of consumer and corporate debt should not stop the Bank of England raising interest rates, a top official said yesterday, arguing that exposure to other countries, rather than high levels of domestic debt, caused the banking crisis. The monetary policy committee’s (MPC) Ben Broadbent played down the current period of deleveraging, arguing that [...]
Eurozone jobs fall as growth remains slow March 15, 2012 JOBS fell again in the Eurozone at the end of 2011, official figures showed yesterday, as the European Central Bank (ECB) warned the region’s economy will only recover very slowly. Employment declined 0.2 per cent in the final quarter of 2011 in the Eurozone and 0.1 per cent in the full EU, compared to the [...]
Boom for car industry as output increases again March 15, 2012 OUTPUT increased again in February, car industry figures showed yesterday, as exports continued to boom. Car production jumped 23.5 per cent on the same month last year to 138,296 units in the month, with 113,252, or 81.9 per cent, of those made for export, data from the Society of Motor Manufacturers and Traders (SMMT) revealed. [...]
IMF confirms Greek bailout cash March 15, 2012 The International Monetary Fund yesterday approved a €28bn (£23.3bn) bailout for Greece, part of a broader international rescue package for the debt-laden Eurozone member. The IMF said in a brief statement it would immediately disburse €1.65bn to Athens, in a deal to help keep Greece funded until 2014. The IMF board approval ends months of [...]
New US jobless claims dropping March 15, 2012 The number of Americans claiming new jobless benefits fell back to a four-year low last week and manufacturing in the north east held up in March, providing more signs the US economy was firmly on a self-sustaining growth path. Initial claims for state unemployment benefits dropped 14,000 to a seasonally adjusted 351,000, the Labor Department [...]
Boom in prime property sees Savills thrive March 15, 2012 SAVILLS yesterday posted a nine per cent increase in full year profits to £40m after a boom in London prime residential property and strength in China helped to offset a stagnation in commercial activity in Europe. The property agent’s UK residential business grew profits by 11 per cent to £20.4m in 2011, fuelled by a [...]
