Hargreaves Lansdown reports record quarter April 16, 2010 FUND manager Hargreaves Lansdown said it has had its best quarter ever with a flood of new clients. Total assets under administration surged by 12.8 per cent to £17.6bn in the third quarter. The group said it has maintained a strong cash and balance sheet position, free from debt and with a high level of [...]
UK airports close after volcanic ash cloud threat April 15, 2010 All airports across Britain have been closed after a huge cloud of volcanic ash in Iceland drifted into UK airspace. Thousands of flights across the UK have been cancelled leaving passengers stranded. BA is offering full refunds or alternative flights at a later time. UK airspace will be closed from 12pm to 6pm after warnings [...]
Sportingbet to list on main market April 15, 2010 ONLINE gaming firm Sportingbet has confirmed its plans to move to London’s main market next month to boost its profile among investors. The news sent shares in the group, which first joined the Alternative Investment Market back in January 2001, up to 75.5p. This potentially values the group at £370 million which could see it [...]
Toyota suspends global sales of Lexus SUV April 15, 2010 TOYOTA has suspended sales of the 2010 Lexus GX 460 worldwide after claims that it could be unsafe on sharp turns. The Japanese company had already stopped Lexus deliveries in the US and Canada after a consumer report in a magazine raised the safety fears. Toyota is also testing roll-over issues on its Land Cruiser, [...]
China economy in 12pc growth spurt April 15, 2010 CHINA has reported forecast-beating year-on-year growth in the first quarter of 11.9 per cent. The rate of expansion – the fastest since 2007 – means that the country will be forced into tighter fiscal control to rein in inflation, according to analysts. Goldman Sachs economist Yu Song said: “We think in absence of a dramatic [...]
JP Morgan sees profits rise April 14, 2010 JPMorgan Chase has reported first quarter profits of $3.3bn (£2.1bn). Revenues from its investment bank overshadowed losses on consumer loans. Shares of the second-largest US bank rose 2.4 per cent as it said the pace of loan losses slowed. The main area which fuelled the bank’s figures was its debt trading business, which produced revenues [...]
Euro zone industrial output jumps April 14, 2010 INDUSTRIAL output rose more sharply than expected in February – posting its fastest rise in almost two years. Production across the 16-country currency organisation increased by 0.9 per cent from January, according to European official data office Eurostat. The figure jumped 4.1 percent year-on-year – the biggest increase since April 2008. The euro zone economy [...]
Prudential makes Devey Asia chief April 14, 2010 PRUDENTIAL has as appointed Rob Devey to lead the integration with American International Group’s Asian life insurance arm. The company is on verge of securing a deal for American International Assurance (AIA) for $35.5 billion. But it still needs to complete a $21bn rights issue to fund the bid. Devey, currently Prudential’s head of European [...]
Toyota suspends US Lexus SUV sales April 14, 2010 TOYOTA has suspended sales of a new Lexus SUV in the US market to investigate the risks of the vehicles rolling. The company has stopped sales of the 2010 Lexus GX 460 after consumer reports suggested that the vehicles handled badly on some turns with possible “safety risks” attached. Toyota, which also sells the Lexus [...]
JD Sports profits surge and dividend raised April 14, 2010 RETAILER JD Sports Fashion has reported a 26 per cent rise in annual profits and hiked its dividend. Pre-tax profits before exceptional items surged to £67.4m in the year to 30 January – up from £53.6m last year. Like-for-like sales were up two per cent in the ten weeks to April 10. The company said [...]
