Jupiter sees revenue jump June 21, 2011 Jupiter Fund Management said on Tuesday it expects to post a 15 percent rise in its first-half net revenues to £126.5-129m, after posting new inflows in the five months to the end of May. The UK fund management house also said a group of shareholders – including chief executive Edward Bonham Carter – is placing [...]
Whitbread boosted by London Premier Inns June 21, 2011 The country’s biggest hotel and coffee shop operator Whitbread said it had performed in line with its expectations in the first quarter with a strong performance in London offsetting an adverse impact from the Easter and Royal Wedding holidays. The group, which operates the Premier Inn budget hotel chain and Costa Coffee, said total sales [...]
Foster’s rejects £6.2bn bid from SABMiller June 21, 2011 Foster’s Group rejected a A$9.5bn (£6.2bn) cash takeover offer from global giant SABMiller as too low, but investors were betting Australia’s largest brewer would succumb to a slightly higher offer. Foster’s, one of the last big prizes in a consolidating global beer market, has high margins and a 50 per cent market share in Australia, [...]
Banks hit by Greece loan delay June 20, 2011 Banking stocks took a pummeling in early trading today as Eurozone ministers stalled on loan payments to Greece creating more uncertainty surrounding the beleaguered country. Ministers said Greece would need to introduce harsh austerity measures before it received the 12bn euros (£10.6bn) in loans. The FTSE 100 was dented by the news and European markets [...]
ING puts car leasing business up for sale June 20, 2011 Dutch financial services group ING said it has put its car leasing business up for sale, in a deal Dutch media reported may be worth 4 billion euros (£3.5bn). ING is in the throes of a huge restructuring, forced on it as a condition of its 10-billion-euros state bailout in the 2008 financial crisis. It [...]
Morgan Stanley warns over cuts to bank lending and dividends June 20, 2011 Top banks may have to cut lending, dividends or returns to meet stricter capital rules being planned for the biggest financial firms, Morgan Stanley analysts said. “Many of the top 25 banks could approach likely G-SIFI (globally systemically important financial institutions) standards in the next 3-4 years, but at the cost of dividends, returns or, [...]
Rolls Royce signs £1.6bn TAM deal June 20, 2011 Engine maker Rolls Royce has inked its first deal with Brazilian airline TAM to provide engines worth $2.2bn(£1.36bn) for Airbus A350s. TAM, which announced its intention to merge with Chilean airline LAN last year, has placed an order for 27 of the Airbus A350 XWB aircraft. The agreement with Rolls Royce includes a 12-year agreement [...]
Aggreko powers ahead in first half June 20, 2011 Aggreko, the world’s biggest provider of temporary power, said the rate of growth seen in the first quarter had accelerated, putting it on track for a strong performance in the first half of the year. “We now anticipate that, in the first half, group revenue in constant currency and excluding pass-through fuel will be about [...]
SuperGroup: Growth plan is on track June 20, 2011 SuperGroup has seen a marked improvement in trading over the past three weeks and is sticking by its expansion plans, it said, as it seeks to calm nerves after a plunge in its shares. The company behind the Superdry fashion brand also said it had exchanged contracts for a new flagship store on London’s Regent [...]
Europe delays decision on Greece loans June 20, 2011 Euro zone finance ministers postponed a final decision on extending 12 billion euros (£10bn) in emergency loans to Greece, saying Athens would first have to introduce harsh austerity measures. The ministers said they expected the money, the next tranche in a 110 billion euro bailout of Greece by the European Union and the International Monetary [...]
