Standard Life profit rises 7pc March 10, 2011 Standard Life reported a seven per cent increase in its 2010 profit, wrong-footing expectations of a decline, and said it had made a strong start to 2011. The Edinburgh-based life insurer made an operating profit of £425m up from £399m the previous year. Analysts had expected a profit of £355m, according to a consensus forecast [...]
Legal and General names new chief March 9, 2011 Legal & General Investment management unit, the largest pension funds manager in the UK, has promoted the head of its American operations to chief executive as it eyes international business. Legal & General named Mark Zinkula to head Legal & General Investment Management (LGIM), which has £342bn in funds under management. Zinkula has been the [...]
John Lewis profit up 20pc – but warns of tough 2011 March 9, 2011 Retailer John Lewis said it would pay over 73,000 staff, known as partners, a bonus of 18 per cent of salary as it posted a 20 per cent rise in year profit after winning market share from rivals. But the 147-year-old employee-owned group, which owns 28 department stores, four John Lewis “at home” stores, 244 [...]
UK trade gap narrows on record exports March 9, 2011 The global goods trade gap narrowed in January to its smallest in nearly a year, with record exports of oil and food and drink helping it to recover from its worst reading on record in December. The Office for National Statistics said that the country’s goods trade deficit closed to £7.057bn from an upwardly revised [...]
Northern Rock in £232m annual loss March 9, 2011 Northern Rock, the retail bank formed from the ashes of the lender that almost collapsed in the financial crisis, said it is preparing to return to the private sector after posting a £232m annual loss. State-owned Northern Rock , which manages new mortgages and savings, said the underlying loss for 2010, its first annual set [...]
Prudential beats forecasts on Asian growth March 9, 2011 Prudential, Britain’s biggest insurer, beat forecasts with a 24 per cent increase in its 2010 profit, helped by continued strong growth in Asia, and hiked its dividend by a fifth. Prudential made an operating profit of £1.94bn last year, up from £1.564bn in 2009. Analysts had expected a profit of £1.73bn, according to a consensus [...]
Tullow Oil in profit surge March 9, 2011 Pre-tax profits at Tullow Oil jumped by 361 per cent to $152m (£94m) after oil price rises and successful explorations. The FTSE 100 oil explorer saw a 19 per cent rise in revenues to $1bn in the year to 31 December. The Africa-focused company benefited from rising oil prices, selling its crude at an average [...]
Job creation highest in ten months March 9, 2011 Recruiters, led by the private sector, filled permanent vacancies at the fastest pace in 10 months in February while wage inflation eased to a three-month low, a survey showed. Research for the Recruitment and Employment Confederation and KPMG also showed hiring of temporary staff rose at its sharpest rate since May 2007, offering hope the [...]
Daimler and Rolls confirm £2.7bn bid for Tognum March 9, 2011 German automotive group Daimler and aerospace engine manufacturer Rolls-Royce said they would bid 3.2bn euros (£2.7bn) for industrial diesel engine maker Tognum. Under the deal, first announced on Monday, stockholders can tender their shares for 24 euros each. Tognum shares have jumped by more than a quarter over the past five days. The agreement is [...]
Sports Direct in clear after fraud probe March 9, 2011 Sports Direct, Britain’s biggest sporting goods retailer, said none of its employees were under investigation by the Serious Fraud Office as it detailed a £220m refinancing. “We can confirm that no individuals connected to Sports Direct International are under investigation,” the firm, controlled by Newcastle United soccer club owner Mike Ashley, said on Wednesday. In [...]
