Old Mutual waves farewell to boss Roberts with profits lift August 7, 2015 OLD MUTUAL yesterday reported a 20 per cent rise in adjusted profits in constant currency terms, and an eight per cent rise in its dividend. The first-half results, to 30 June, show that the investment group’s funds under management are up by seven per cent to £335.7bn. Group chief executive, Julian Roberts, who is stepping down, [...]
Land Securities signs a trio of lettings at New Ludgate scheme August 7, 2015 LAND Securities has sealed a trio of lettings at New Ludgate, including the Commonwealth Bank of Australia, taking the new office scheme on the fringes of the City to 92 per cent let. The bank will move its European headquarters to 44,000 square feet on the first and second floors at One New Ludgate on [...]
Aviva’s UK life business leads positive results August 7, 2015 AVIVA boss Mark Wilson said yesterday that he is confident that the restructure he has been leading at the insurer since 2013 is progressing well, with the integration of Friends Life already ahead of schedule. Reporting on the six months to 30 June, Wilson said the period marked “10 consecutive quarters of growth”, adding: “All [...]
Adidas mulls sale of golf brands after tough day on the fairway August 7, 2015 ADIDAS has launched an overhaul of its struggling TaylorMade golf business, including a potential sale of some of its brands, as the sport continues to lose popularity. The German sportswear firm said yesterday that it has hired investment bank Guggenheim Partners to explore options for the golf business after revenues fell by 26 per cent [...]
Viacom shares fall as Stewart says goodbye August 7, 2015 SHARES in American media giant Viacom plummeted by as much as 18 per cent yesterday, to a four-year low, after the company reported weaker-than-expected quarterly revenues for the second quarter. Viacom said that its bottom line had suffered at the hands of lower advertising revenue from its cable television business, as viewers “cut the cord” [...]
Hiroshima remembers nuclear bomb victims August 7, 2015 Bells tolled and thousands bowed their heads in prayer in Hiroshima yesterday at ceremonies marking the 70th anniversary of the world’s first atomic bombing. Mayor Kazumi Matsui urged that nuclear weapons be abolished. More than 100,000 people died at Hiroshima when Colonel Paul Tibbets, the pilot of a B-29 named Enola Gay, dropped the bomb.
Hester plays hard to get over Zurich bid for RSA August 7, 2015 RSA BOSS Stephen Hester wants prospective buyer Zurich to put up or shut up, as the insurance giants edge towards a potential merger. The Swiss insurer last week revealed that it is considering making a bid for RSA, and now has until 25 August to make a formal offer, or announce that it has decided [...]
Genel planning to invest more in Kurdistan oil August 7, 2015 GENEL Energy’s shares took a hammering yesterday as the company reported that profit had more than halved in the six months to 30 June. The share price dropped by over 10 per cent at one stage, and closed down by 12.91 per cent at 379.50p. The Kurdistan-focused oil company’s pre-tax profit dropped to £31.4m in [...]
Rio Tinto sales tumble as tough commodities market continues August 7, 2015 MINING giant Rio Tinto’s profits were slashed in the six months to 30 June, as earnings from iron ore plunged by 49 per cent despite production growing by 12 per cent. Profit before tax in the first half was $1.75bn (£1.13bn), compared with £6.1bn recorded in the same period of last year. Revenue was also [...]
NY Times gets a boost from its 1m subscribers August 7, 2015 THE NEW York Times Company beat analysts’ expectations yesterday, reporting a 78.5 per cent rise in profit in the second quarter thanks to cost-cutting measures and an increase in digital advertising revenue. The company has been slashing costs and investing in its online and mobile platforms in recent months to offset falling print ad revenue, [...]
