KPMG profit for UK falls five per cent January 8, 2012 PROFESSIONAL services firm KPMG is poised to announce a five per cent dip in profit for the UK this morning, despite a revenue lift of seven per cent. In the twelve months to 30 September 2011, profit dropped from £416m to £396m, while revenues rose from £1.6m to £1.7m. The partners’ profitpool fell to £683,000 [...]
SNB’s Hildebrand to face grilling over forex deals January 8, 2012 SWISS National Bank (SNB) governor Philipp Hildebrand will today face the questions of a parliamentary committee over the controversial currency deals carried out by his wife last summer. Hildebrand will appear in front of a scheduled meeting of Switzerland’s parliamentary committee for economic affairs and taxation, where politicians are expected to grill both Hildebrand and [...]
The City’s outlook on 2012: optimism for Olympic success but Eurozone doubts January 8, 2012 A SUCCESSFUL Olympics seems almost guaranteed according to our latest Voice of the City poll, run in association with PoliticsHome.com, with 73 per cent respondents feeling optimistic about the event. Just 10 per cent said they are pessimistic about London 2012. But the government can feel less happy about the City’s views on its deficit [...]
Monti builds pressure on Merkozy talks January 8, 2012 ALL EUROZONE members must pull their weight, Italian PM Mario Monti said yesterday, insisting that Italy must not stand alone in implementing austerity measures to stabilise the euro. His remarks came on the eve of the Franco-German summit in which his counterparts Sarkozy (pictured below) and Merkel will try to hammer out a unified position. [...]
Van Rompuy: I am positive on crisis resolution January 8, 2012 LAST year was tough, but the crisis will never happen again thanks to the steps taken by European leaders, European Council president Herman van Rompuy claimed yesterday. The leader insisted he was in a “positive frame of mind” about the currency’s long-term future. “The euro as a currency was never in danger,” he told Belgian [...]
Cenkos mulling bid for Panmure January 8, 2012 BROKER Panmure Gordon could be sold to rival Cenkos Securities as the sector’s weak performance prompts another round of consolidation. Directors at Panmure have spoken to their counterparts at Cenkos and are also believed to have held discussions with another suitor. Sources said “it is right that board members talk” to other firms given the [...]
News Corp shares hit year’s high January 8, 2012 News Corp shares rose to a 52-week record last week, topping the highs it hit before the 4 July story that News of the World had hacked murdered Milly Dowler’s phone. The media conglomerate lost nearly a quarter of its market capitalization, some $11bn, in just four weeks. But the market has reacted to strong [...]
Pets at Home reports £75m profit January 8, 2012 Pet care seller Pets at Home has defied the retail sector slump by reporting full-year pre-tax profits of £75.2m, up 11 per cent on the previous year. The figures, filed in Companies House on Friday, show the retailer increased turnover 11 per cent to £512m in the year to 31 March, opening 25 new stores [...]
City jobs fear as RBS in race to sell broker January 8, 2012 RBS could revive the faltering shake-up of its investment bank by paying bidders to take its stockbroking arm off its hands. The state-owned bank is considering offering the eventual buyer of the equities business a multi-million pound “dowry” in an attempt to avoid closing it, which could result in up to 5,000 job cuts and [...]
High-end house prices on the rise in London January 8, 2012 TOP-END house prices in London have kept rising despite global economic uncertainty, according to data seen by City A.M. Properties worth between £5m and £10m grew in value by 3.5 per cent in the year to the end of September 2011, research from Investec reveals. Houses worth between £1m and £2m increased in value by [...]
