Yahoo to lose three executives October 1, 2010 Yahoo Inc confirmed the departure of three senior executives, including US head Hilary Schneider, the latest in a string of high-level departures at the Web portal. The departures raise concerns about Yahoo’s efforts to revive its revenue growth and its popularity among Web surfers, nearly two years after CEO Carol Bartz took the helm, said [...]
Greek PM says country is “credible” for creditors October 1, 2010 Greece remains a country which is credible to its creditors, Greek Prime Minister George Papandreou has claimed. “If we had wanted to default, we would have done that. That would have been a decision we had made initially. But we made another decision, a decision not to default,” he said. “And this decision shows that [...]
Brewin Dolphin in trading boost as assets climb October 1, 2010 Private client investment manager Brewin Dolphin said fourth quarter trading had seen a health rise in assets under management. Total funds under management for the year to 26 September were £23.2bn, up 13.2 per cent from £20.5m last year. The company said it is looking forward to 2011 with confidence. A statement said: “Trading in [...]
BP looks to restore dividend after oil spill crisis September 30, 2010 BP may resume paying a dividend to shareholders in the new year, incoming chief executive Bob Dudley has said. He said BP’s board would meet to discuss restoring the dividend in the coming months, in an interview with the BBC BP stopped paying out money to shareholders following the oil disaster in the Gulf of [...]
Moody’s downgrades Spain’s rating September 30, 2010 Spain has lost its last triple-A credit rating with the major rating agencies, following a downgrade from Moody’s. The agency downgraded Spanish debt by one level to Aa1, following similar moves by Fitch and Standard & Poor’s earlier this year. Moody’s said the downgrade reflected the “considerable deterioration” in Spain’s public finances. Spain has been [...]
Rolls-Royce chief retires September 30, 2010 Rolls-Royce’s chief executive Sir John Rose is to retire after 14 years at the helm of the engine-maker. Sir John, who has been with the company for almost three decades, will be succeeded by John Rishton, currently chief executive of the Dutch retail giant Ahold. Rishton is also a former chief financial officer at British [...]
ICAP sales growing but costs hold back earnings September 30, 2010 ICAP, the world’s biggest interdealer broker, said it expected higher first-half revenues, though increased interest costs were holding back earnings growth. “Increased interest costs resulting from the previously diclosed refinancing of ICAP’s debt facilities reduced earnings growth,” ICAP said in a trading update on Thursday. ICAP said revenues for the first six months to 30 [...]
3i trebles buyouts September 30, 2010 British private equity firm 3i Group trebled its buyout investments in the five months to August, the group said, after recent shake-ups at the firm saw its head of buyouts resign. Investment in buyouts increased to £236m from £86m 2009, with overall investments up more than 65 per cent to £257m, 3i said. Realisations from [...]
House prices in slim rise in September September 30, 2010 House prices rose slightly in September, according to the Nationwide building society. Prices rose by 0.1 per cent last month, following a 0.8 per cent decline in August. Nationwide said that “buyers appear to have a slightly better hand than sellers at the moment”. The average house price now stands at just over £166,757, up [...]
Tate & Lyle in upbeat trading September 30, 2010 Sweetener and starches maker Tate & Lyle said its encouraging start to the year continued into its second quarter giving it confidence it will make progress in its full financial year. The London-based group progress said growth in its speciality sweeteners and starches remained steady, volume growth for its sucralose sweetener Splenda was robust, while [...]
