Resolution to be Friends Life as Cowdery exits March 18, 2014 SHARES in the insurance group Resolution slipped 5.92 cent yesterday as founder Clive Cowdery revealed he is stepping down at the end of the firm’s restructuring. The London-listed firm, founded in 2008 to consolidate struggling insurers, also plans to change its name to Friends Life in honour of its biggest acquisition. John Tiner, who helped [...]
Antofagasta hit by slide despite bumper payout March 18, 2014 CHILEAN copper miner Antofagasta briefly delighted the market yesterday with a better-than-expected dividend, but a decline in full-year revenue and earnings took the shine off results. The FTSE 100-quoted company issued a final dividend of 86.1 cents per share, bringing the total dividend for the year to 95 cents per share. This represents a total [...]
Brand Index: Economic confidence set to determine the 2015 election March 18, 2014 SINCE YouGov started tracking consumer confidence in 2009, the number of people expecting their household financial situation to get worse has always far outstripped the upbeat group of Britons who expected things to get better. This split reached its worst in 2011 when for a few months more than half, or 55 per cent, of [...]
Glencore chief Glasenberg took no bonus or pay rise last year March 18, 2014 GLENCORE Xstrata’s chief executive Ivan Glasenberg took no bonus or pay rise last year, having waived his bonus entitlement for 2013 and 2014. In its annual accounts, the newly-merged commodities trader showed that he could have taken up to £3.5m dependent on hitting performance targets, but he decided to take his basic salary and pension [...]
Cairn Energy plummets 14 per cent after it halts share buyback due to Indian tax investigation March 18, 2014 CAIRN Energy’s share price plunged over 14 per cent yesterday, after the Scottish oil and gas explorer reported a higher-than-expected loss after tax of $556m (£335.2m) and suspended its share buyback programme due to an Indian tax dispute. The Indian regulator had contacted the FTSE 250 firm at the start of the year to discuss [...]
Gem Diamonds pledges its first dividend on increased earnings March 18, 2014 GEM DIAMONDS yesterday posted a 23 per cent rise in full-year profit and said it would be issuing its first dividend at the end of this year, due to the world’s insatiable demand for precious stones. The London-listed diamond miner reported net profit of $21m (£12.7m) in 2013, while revenue went up five per cent [...]
Carillion venture wins Dubai deal March 18, 2014 London-listed support services firm Carillion yesterday said that its joint venture business in the UAE, Al Futtaim Carillion, has been awarded a £61m contract to develop the first phase of the Dubai Trade Centre, which includes an eight storey office building and a 588-room hotel. The work will begin in April 2014 and is scheduled [...]
Ingenious backs new solar farms March 18, 2014 Green energy investor Ingenious Clean Energy said yesterday that its partner Anesco has powered up three new solar farms, which will be bought by an Ingenious fund that plans to raise up to £180m through an equity placing later this month. “Our number one objective has been to guarantee a high proportion of our asset [...]
Offshore wind projects get £4m March 18, 2014 The government yesterday said it has awarded over £4m to four offshore wind projects, which will use the funding to streamline the design and installation of offshore wind turbines, to reduce costs. It claims the 2-B Energy project in Fife, which received £2.8m, could bring down the cost of offshore wind by as much as [...]
Surging exports send UK to top spot in Europe March 18, 2014 THE UK recorded the strongest export growth in the European Union last year, and outstripped every other large economy by a wide margin, according to official figures released yesterday. UK exports surged 11 per cent to €407.9bn (£341.97bn) over the year, while imports dropped eight per cent. In comparison, Germany’s exports stayed flat and France’s [...]
