Barclays hires bankers for Asia business July 13, 2010 BARCLAYS has hired six senior bankers in Singapore for its wealth management business, including Soh Chye Guan from HSBC, as it seeks to tap into growing numbers of high net worth individuals in Southeast Asia. The move comes after the bank, which managed £151.2bn globally under its wealth management arm Barclays Wealth, poached three senior [...]
Burberry revenue up 24 per cent July 13, 2010 BURBERRY has beaten beat forecasts with a 24 per cent rise in first-quarter underlying revenue. The luxury retailer made £282m of revenue, excluding a restructuring at its Spanish arm, in the three months ended June, led by growth in Asia and the rest of Europe. Sales at the group’s retail outlets rose an underlying 16 [...]
Flybe and Air France agree tie-up July 13, 2010 Flybe and Air France have agreed a tie-up to give their passengers access to more routes. Flybe passengers wil have access to five additional routes between the UK and France as well as seven new domestic French routes and 11 international routes from the autumn. Meanwhile Air France will be able to use 45 new [...]
BP successfully fits new cap to stem oil leak July 13, 2010 BP has installed a new sealing cap on the leaking Gulf of Mexico oil well, the company has confirmed. The system is designed stop the leak and capture all the oil before it gushes into the ocean. However BP said “its efficiency and ability to contain the oil and gas cannot be assured”, because of [...]
Falkland Oil and Gas shares down as exploration draws blank July 12, 2010 SHARES in Falklands Oil and Gas slid by almost two thirds after its efforts at the Toroa exploration well drew a blank. The AIM-listed explorer confirmed that the Toroa F61/5-1 well will now be plugged and abandoned after it was drilled to a total depth of 2476 metres but failed to encounter any reservoired hydrocarbons. [...]
UK economy grows by 0.3pc July 12, 2010 THE economy grew at the same pace as previously estimated in the first three months of this year, according to official data. Figures from the Office of National Statistics showed that the economy grew by 0.3 per cent. The long-awaited GDP figures came from revised data after concerns that the initial figures released had not [...]
Santander expands branches with SEB deal July 12, 2010 SANTANDER has agreed to buy Swedish bank SEB’s German business for 555 euros (£466.5m) The sale will double the size of Santander’s German branch network. SEB has 173 branches in that country and a million customers. It wants to concentrate on merchant banking and wealth management in Germany. Santander’s acquisition is its second major move [...]
BAA passenger numbers hit by strike July 12, 2010 BAA has said the number of passengers using its airports fell in June because of disruption sparked by the BA cabin crew dispute. Passenger numbers in BAA’s airports fell 1.7 per cent compared with June 2009. BAA said that without the strike it would have expected traffic to have been at the same levels as [...]
BP spill bill hits $3.5bn July 12, 2010 BP, which is making progress with a new containment system for its ruptured well in the Gulf of Mexico, has said the cost of the spill had risen to about $3.5bn (£2.3bn). It also said more than 52,000 payments have been made to claimants, totalling almost $165m. About 105,000 claims had been submitted, it added. [...]
Companies cut marketing budgets July 12, 2010 COMPANIES cut their marketing budgets in the second quarter, new figures have shown. The survey of around 300 British companies for the IPA/BDO Bellwether report found that advertising budgets for nearly all categories were revised down. “The downward revision to marketing budgets in the second quarter is disappointing as it fails to build on the [...]
