Towers Watson promotes Brit to run its investment business February 10, 2014 PROFESSIONAL services firm Towers Watson yesterday named a London-based director as its global head of investment, giving him oversight of $2 trillion of assets. Chris Ford, who has been with Towers Watson for 23 years, most recently as its European investment head, will oversee the firm’s vast investment business, which employs about 800 associates around [...]
MPs blast firms for soaring cost at Sellafield February 10, 2014 A COMMITTEE of MPs today criticised the “spiralling costs and poor performance” of a consortium of private firms brought in to decommission nuclear site Sellafield, calling for the contract to be terminated if things did not improve. The Public Accounts Committee has published a report on progress at Sellafield, as the cost to taxpayers of [...]
Wall Street tiger gets her claws out over wolves February 10, 2014 FORGET the Wolf of Wall Street, the City played host to a different financial animal this weekend – Junheng Li, author of Tiger Woman on Wall Street. Li, a Wall Street analyst who advises institutional investors on Chinese companies, has written a book detailing her personal journey, “from the streets of Shanghai to Wall Street”. [...]
Flying first glass: Virgin Atlantic kits out crew with Google specs February 10, 2014 IF YOU happen to be flying with Virgin Atlantic out of Heathrow today, you may be met with a surprise. Never one to be left behind in technological adventures, Richard Branson’s Virgin Atlantic fleet will be trialling Google Glass – well, in the Upper Class Wing at least. Concierge staff will meet customers in the Upper [...]
Catlin shares up as profits rise by $93m to $432m February 10, 2014 GLOBAL insurer Catlin Group yesterday reported a 27 per cent increase in profit before tax in its annual results. The specialist property and casualty insurer made $432m (£263.4m) last year, $93m up on 2012. It also announced a five per cent increase in its annual dividend to 31p per share. Results were bolstered by a [...]
Analyst Views: Did Catlin Group perform in line with your expections? February 10, 2014 EAMONN FLANAGAN | SHORE CAPITAL Catlin’s results were better than we and the market had expected but, despite a capital buffer which, at 21 per cent, is above its targeted range of between 10 per cent and 20 per cent, the group remains unwilling to return capital to shareholders. We reiterate our hold recommendation on [...]
Cable & Wireless finance chief quits ahead of firm’s relocation February 10, 2014 CABLE & Wireless Communications (CWC) yesterday announced the resignation of its financial chief Tim Pennington, ahead of the company’s upcoming move to its new US headquarters in Miami. In a move described as “somewhat unexpected” to City A.M. by people close to the company, Pennington will take up another finance chief position at an as-yet-unnamed [...]
Gatwick traffic up in January on large rise in European journeys February 10, 2014 MORE than 2.2m travellers passed through Gatwick Airport in January, up 6.6 per cent on the previous year as routes within Europe and to further afield got busier. The south of London airport said yesterday that scheduled traffic to Europe was up 12.8 per cent to 1.19m passengers in the month, while domestic flights took [...]
John Laing looks to raise £174m from green infrastructure float February 10, 2014 A NEW infrastructure fund that has John Laing as an investor yesterday unveiled its plans to float on the main market of the London Stock Exchange, as it looks to raise up to £174m. John Laing Environmental Assets Group (JLEN) will acquire a portfolio of renewable energy, waste and waste water PFI assets in the [...]
Sigma buys Barking Riverside site February 10, 2014 Property regeneration specialist Sigma Capital has made its first investment in London by buying into the Barking Riverside development. Sigma said its new site, which has permission for 318 homes, will cost more than £50m to develop. The firm has bought the land from Bellway and the Greater London Authority. The overall 44-acre site will [...]
