New director to join Moneycorp January 29, 2015 FOREIGN exchange specialist Moneycorp has appointed Andy Reid as managing director of global payments. Reid was previously on the executive committee at Barclays Corporate, and has also worked at JP Morgan and HSBC. Moneycorp was bought by private equity firm Bridgepoint last August.
Insurer names new chief exec January 29, 2015 PENSION Insurance Corporation (PIC), the insurer, yesterday named investment boss Tracy Blackwell as the successor to current chief executive John Coomber. Blackwell, who has been at the company since its inception in 2006, will become deputy chief executive with immediate effect and take up the hotseat when Coomber retires in June. Blackwell is an alumna [...]
Wall ST brushes off colgate’s mixed data January 29, 2015 Colgate-Palmolive yesterday reported a six per cent rise in organic sales, sending its shares up six per cent as investors shrugged off a lowered earnings forecast. Net sales in Latin America, its biggest market, fell six per cent and fell seven per cent in Europe.
Nomura profits jump on strong Japanese stock market growth January 29, 2015 PROFITS at Nomura surged in the third quarter, the Japanese investment bank reported yesterday, as stock markets rallied over the period. Pre-tax income rose 33.6 per cent on the year to ¥116bn (£651m) in the quarter. Nomura’s retail business contributed strongly, with revenues up nine per cent to ¥128bn. Increased demand from retail clients for [...]
Great Portland Estates jumps in value thanks to West End property demand January 29, 2015 Great Portland Estates (GPE) yesterday posted a 5.2 per cent surge in the value of its property portfolio, thanks to London’s booming West End property market, despite increased uncertainty ahead of the upcoming general election. The FTSE 250 developer said the value of its estate was worth £3.07bn at 31 December, up £152.3m on the [...]
Deutsche delays legal bills and gains from bond trading recovery January 29, 2015 SHAREHOLDERS welcomed Deutsche Bank’s unexpectedly strong profit figures yesterday, but the troubled lender still faces more legal bills in the months ahead. Analysts had predicted the giant German institution would make a loss in the fourth quarter with legal bills of as much as €1bn (£752m). But some costs were postponed, reducing the hit to [...]
Wonga to end Blackpool FC sponsorship January 29, 2015 PAYDAY lender Wonga will not renew its sponsorship deal with Blackpool FC when the current contract expires at the end of this season, the embattled online finance firm said yesterday. It comes as part of a wider review of its marketing strategy – Wonga has already stopped advertising on TV, and removed its name from [...]
Liquidations drop to their lowest level since the crash January 29, 2015 THE ECONOMIC recovery combined with sustained low interest rates has helped push the number of company liquidations down to its lowest level in seven years, official figures showed yesterday. A total of 14,040 companies entered liquidation in 2014, down 6.3 per cent on the year. That represents the smallest number since 2007. Just over 10,000 entered [...]
AstraZeneca’s genetic scissors to refine drugs January 29, 2015 UK DRUG giant AstraZeneca said yesterday it has struck four research agreements in the hot area of genome editing as it bets on a new “genetic scissors” technology to deliver better and more precise drugs for a range of diseases. The deals will allow AstraZeneca to use its so-called CRISPR technology, which stands for clustered [...]
3i raises £245m from investment sales and clears way for more January 29, 2015 AGENT Provocateur owner 3i yesterday announced that strong market valuations had cleared the way for further disposals after it raised £245m from sales of investments in the final quarter of 2014. The private equity firm, which also owns women’s clothing chain Hobbs, said its sale of German automotive supplier Hilite and further sales of stakes in [...]
