Co-op Group plans sell-off as heads for its worst-ever loss February 26, 2014 THE Co-operative Group said yesterday it was selling its farming business and looking at offloading its pharmacies after a banking crisis that has sent its losses spiralling to the worst levels in its 170-year history. The sales are part of a restructuring at the member-owned group, rocked in the past year by the discovery of [...]
Hays on a hiring drive as UK jobs market warms February 26, 2014 RECRUITMENT firm Hays is confident of a sustained rise in white-collar hiring in Britain this year, and is adding more staff of its own to keep up with the pace of demand. Hays said net fees in the UK and Ireland rose nine per cent to £10.1m in the last half of 2013, with almost [...]
Allen & Overy names five new London partners in promotions February 26, 2014 FIVE London lawyers at Magic Circle firm Allen & Overy were yesterday named as partners, as part of a 16-strong round of promotions worldwide . Banking specialist Troy Edwards, international capital markets lawyers Guy Antrobus and Luke Lewis, and litigation duo Alice Englehart and Mahmood Lone will become partners on 1 May. The firm also promoted [...]
Henderson hits record levels after reversal February 26, 2014 FUND manager Henderson yesterday said a turnaround in retail investor sentiment at the end of the last year helped deliver a record year for profits at the group. The business, which celebrates its 80th birthday this year, said retail investors put an extra £2.5bn into its funds into the fourth quarter while institutional investors added [...]
Forex broker FXCM UK slapped with £4m fine by City watchdog February 26, 2014 THE FINANCIAL Conduct Authority (FCA) yesterday fined Forex Capital Markets and FXCM Securities (FXCM UK) £4m for allowing the US-based FXCM group to withhold profits of around £6m, which should have gone to UK clients. FXCM UK also failed to tell the regulator that US authorities were probing another part of the group for the same [...]
Taylor Wimpey returns £250m to shareholders February 26, 2014 TAYLOR Wimpey said yesterday it would pay £250m to shareholders after it became the latest housebuilder to report impressive results on the back of a surging housing market. The company said it will pay shareholders a special dividend of £50m in 2014, and £200m in 2015 from its growing cash pile, with plans for further [...]
Airbus Group lines up a big rise in passenger plane production February 26, 2014 AIRBUS will chase more jet orders in the next few years, the company formerly known as EADS said yesterday as it unveiled a 21 per cent rise in underlying profits. The firm, which competes with Boeing for commercial plane orders, said it aims to deliver 46 planes a month by the second quarter of 2016, [...]
Petrofac warns of flat to modest growth after bumper earnings February 26, 2014 FTSE 100-listed oil and gas services firm Petrofac yesterday reported a three per cent rise in profit in 2013 but warned of weak growth this year, in line with previous guidance and market expectations. The company said it expected flat to modest growth in 2014 due to project delays, before a return to strong earnings [...]
Stagecoach says storms will not dent its revenues from railways February 26, 2014 STAGECOACH, the transport group that runs the South West Trains franchise, said the recent storms and flooding that devastated the region’s railways will not make a dent in the firm’s overall results. UK rail revenues were up 3.9 per cent in the forty weeks to 2 February, with the effects of the weather likely to [...]
Housing recovery boosts profit at builders merchant Travis Perkins February 26, 2014 TRAVIS Perkins enjoyed a 12.4 per cent rise in profits last year as the recovery in the housing market helped boost building activity in the UK. Adjusted profit before tax rose to £321m for the year to 31 December while earnings per share were up 14.3 per cent to 103.6p, ahead of analysts forecasts. Revenue [...]
