Munich Re and Swiss Re eye up investor returns November 7, 2013 MUNICH Re and Swiss Re, the world’s biggest reinsurance groups, yesterday reported falling profits but pledged to return money to shareholders. German reinsurer Munich Re unveiled plans to buy back up to €1bn (£624m) of its own shares in the coming months, hoping to cheer investors after a fall in third-quarter earnings. The firm said [...]
Schroders assets soar thanks to new blood from Cazenove November 7, 2013 ASSETS and new funds poured into Schroders in the three months to the end of September, as the departure of star manager Richard Buxton was more than offset by the purchase of Cazenove Capital. Schroders delivered a total profit before one-off items of £349.6m over the quarter, up 31 per cent from 2012, with inflows [...]
Towers Watson in rude health November 7, 2013 CONSULTANTCY Towers Watson yesterday posted a 50 per cent rise in quarterly net income after a busy period working on President Obama’s Obamacare proposals. The business, which has been tasked with enrolling workers in the Affordable Care Act’s healthcare exchange proposal, said net income for the three months ending September was $88m – up $59m [...]
Asset sales lift Generali profit November 7, 2013 ITALIAN insurer Generali said yesterday a series of asset sales had bolstered its capital position, putting it on track to beat last year’s results and hit its business targets. The earnings update provided evidence that chief executive Mario Greco’s plan for giving the firm a more solid and more profitable business footing is bearing fruit. [...]
Supergroup’s overseas online sales beat UK November 7, 2013 SUPERGROUP’S overseas online business has leapfrogged its home market for the first time, the fashion retailer said yesterday after posting forecast-beating second quarter figures. The owner of the Superdry label said its focus on better quality clothing and on broadening its products range had helped boost its appeal and lift sales by 18.5 per cent [...]
Everyman Cinemas star in stock market debut as it raises £8.1m November 7, 2013 EVERYMAN Cinemas, which runs a string of upmarket theatres across London, raised £8.1m in a float on the junior stock market Aim yesterday, giving it a market value of £31m. The independent chain said it will use the funds to fuel its expansion and strengthen its working capital. Shares in Everyman, which has 10 branches [...]
Halfords pedals ahead with strong profits November 7, 2013 HALFORDS’ shares soared more than 13 per cent yesterday after the retailer posted better-than-expected first half profits, boosted by the strong uptake in cycling during this summer’s sunny weather. The FTSE 250 group said pre-tax profits rose 6.4 per cent, to £44.6m in the six months to 27 September, ahead of consensus forecasts of £39m. [...]
Facebook picks Frank Gehry to design new London offices November 7, 2013 FACEBOOK has picked a British Land building near Euston for its new London offices and has hired one of the world’s top architects Frank Gehry to design the interiors. The social media giant signed a 10-year deal yesterday for three floors at 10 Brock Street in Regent’s Place, which is also home to Debenhams, Twitter [...]
Sweeter outlook despite drop in Tate & Lyle sales November 7, 2013 TATE & Lyle is betting on its higher-margin speciality sweetener business to help to support profitable growth for the full year after yesterday reporting a fall in first-half profits. The company, which sells sweeteners including corn syrup to food and soft drink makers, had warned last month that a cold spring in the US had [...]
Rightmove surfs property wave as revenue and earnings grow November 7, 2013 PROPERTY website Rightmove has seen both revenue and earnings grow over the past four months as it benefits from the steady pick up in the housing market. Page impressions were up around 30 per cent between July and the end of October, compared to the same period last year, while the number of pages viewed [...]
