RSA’s head of UK and western Europe is to depart after 25 years April 16, 2014 LONG-STANDING RSA boss Adrian Brown is to leave the company after 25 years, the insurer announced yesterday. Brown, who was executive director and chief executive of the group’s UK and western Europe business, will leave as soon as a successor is found. He is to take up the role of executive chairman of underwriting and [...]
Shares dip after Lancashire CEO leaves the company he founded April 16, 2014 RICHARD Brindle is to leave Lancashire, the property and casualty insurer that he founded in 2005. 51-year-old Brindle will retire from his position as chief executive and director at the end of April and will be replaced by current chief underwriting officer Alex Maloney, who joined the company in December 2005. Shares dipped after the [...]
Charles Stanley profits dented by higher costs April 16, 2014 FUND manager Charles Stanley has warned that a surge in IT, risk and consultancy costs has pushed its annual profits 10 per cent below forecasts, despite assets under management hitting a record high. The London-listed firm said funds under management and administration rose 13.5 per cent since last year to a new high of £20.1bn. [...]
Hargreaves Lansdown bolsters customer base April 16, 2014 INVESTMENT firm Hargreaves Lansdown yesterday said 133,000 more people started using its fund platform services over the past 12 months, with 33,000 people taking up the service since the start of the year alone. The FTSE 100 fund supermarket saw a record net inflow of money from clients in the three months ending March, as [...]
China rows with US over currency April 16, 2014 Chinese officials yesterday rejected US claims its currency is damagingly undervalued, maintaining it is important to stick to its current plan of gradual re-valuations. It came after a US Treasury report said the renminbi (RMB) “remains significantly undervalued.” However, the report did stop short of branding China a currency manipulator, a formal step which could [...]
Aberdeen co-founder returns April 16, 2014 One of the founders of Aberdeen Asset Management is set to launch a new wealth management firm on the London stock market this morning. George Robb, who co-founded Aberdeen and was also chairman of the business, will chair European Wealth, which is set to be reversed into the junior stock market listed EW Group today. [...]
High speed traders probed April 16, 2014 The New York attorney general is probing more than half a dozen high-speed trading firms, a source said yesterday, as part of his wide-ranging probe into alleged unfair technology advantages on Wall Street. Attorney General Eric Schneiderman's office is seeking information on special relationships between exchanges and so-called dark pools, platforms where large trades take [...]
BHP raises iron ore target after record output April 16, 2014 BHP BILLITON yesterday lifted its full-year production guidance for iron ore and metallurgical coal, having achieved record levels during the first nine months of the year. The FTSE 100-listed mining giant said the continued ramp-up of the Jimblebar mine in western Australia and the relatively limited impact of the wet season meant it is raising [...]
Analyst Views: What did you make of BHP Billiton’s operational review? April 16, 2014 RICHARD KNIGHTS | LIBERUM They’ve upgraded their iron ore and coal production targets, which is a slight positive. BHP is doing what most companies are doing in the face of low prices – increasing output to reduce unit costs. I expect the firm will announce an iron ore expansion programme at the end of the year. [...]
Fresnillo is on track but gold output declines April 16, 2014 MEXICAN miner Fresnillo said yesterday that it is on track for 2014, despite a significant decline in gold production in the first quarter. Output of the yellow metal fell by 29.7 per cent compared to the same quarter the previous year to 82,653 ounces, mainly due to suspended operations at the Soledad-Dipolos project and the [...]
