AIG’s float of Asian unit looms as files application with Hong Kong Exchange September 2, 2010 AMERICAN International Group (AIG)?filed an application yesterday with the Hong Kong Stock Exchange to list its Asian life insurance unit, AIA Group. The application brings bailed-out AIG a step closer to AIA’s initial public offering (IPO), which is expected to raise about $15bn (£9.7bn). The move is also a key part of AIG’s restructuring. The [...]
Statoil plans spin-off of its fuel station business September 2, 2010 NORWEGIAN oil company Statoil is readying a fourth-quarter flotation of its international chain of gas stations, joining the industry trend to focus on more lucrative upstream operations. The retail division’s listing on the Oslo stock exchange will test the appetite for new share offerings in Norway along with the expected IPO of insurance group Gjensidige [...]
CITY MOVES | WHO’S SWITCHING JOBS September 2, 2010 Signia Wealth The wealth manager has hired Mark Elliott as managing director. Elliott is joining the family-run firm from Barclays Wealth, where he established the financial institutions group and professional practices business in 2007. Before this he worked for private bank Coutts as group head for the executive team and as group head for the [...]
FTSE treads water ahead of key US non-farm payroll data September 2, 2010 BRITAIN’S top share index closed a touch higher yesterday after a lacklustre day of trading following a powerful advance the day before, with investors keeping their powder dry ahead of US jobs data. Autonomy was among the top blue-chip risers, up 5.2 per cent with traders citing press reports that the software company could find [...]
Wall St up as fears of double-dip recede September 2, 2010 US stocks rose on low volume yesterday as data showed improvement in housing and the job market a day ahead of the critical monthly payrolls figures. Investors built on Wednesday’s sharp advance as indicators provided the latest reason for optimism the economy could avoid another downturn. But the nascent rally could be derailed if today’s [...]
Pack a tax plan if you want a retirement on the beach September 2, 2010 IF YOU are tempted to spend your golden years in the sun and escape overcrowded, polluted London, you are not alone. Emigration from the UK reached a record high in 2008 and that was before the introduction of a 50 per cent higher tax rate and the impending austerity measures. But planning is essential if [...]
asia’s moon to brighten wine orders September 2, 2010 MD & Founder of Fine Wine Merchant Bordeaux Index AS THE wine market reluctantly drags itself back to work after the long summer break we approach what has become one of the defining periods of the trading year, the run-up to Asia’s mid-autumn festival of the moon, which falls on 22 September this year. This [...]
PERSONAL FINANCE NEWS September 2, 2010 LANDLORDS LACKING IN CONFIDENCE Confidence among landlords has dipped for the first time in almost two years. The latest National Landlord Association Optimism Index shows a drop from 51 to 47 points between the first and second quarter. The drop is believed to have been caused by falling house prices and cuts to housing benefits, [...]
No. 1 ladies’ investment club September 2, 2010 FORMING SCM Ladies Investment Club has realised a passion for Gina Miller. The marketing impresario is not afraid of a challenge and her next one is to try to inform wealthy and successful women how to invest for themselves. Miller is impeccably dressed and looks far younger than her 46 years. The mother of three, [...]
Entrepreneurs get social in Sheffield September 2, 2010 NEXT week, the stars of BBC’s Dragons’ Den will be descending on Sheffield to help launch Made: The Entrepreneur Festival. Taking place in the city from 8-11 September, the festival boasts classes on how to pitch a business idea to a school for start-ups hosted by former Dragons’ Den star Doug Richard. Entrepreneurship can be [...]
