Global markets hammered by US and China gloom September 22, 2011 The FTSE 100 plunged on opening today as a bleak view of the US economy from the Fed and fears over a slowdown in China – a key engine room in the global economy – took their toll. London tracked hefty falls on Wall Street and in Asia with the Hang Seng in Hong Kong [...]
TUI Travel boosted by late bookings September 22, 2011 Europe’s biggest tour operator TUI Travel said it was confident its full year results would be in line with expectations following strong late demand for summer holidays. TUI Travel, which operates the Thomson and First Choice chains, said the summer season had traded well with bookings up across most of its markets while margins for [...]
Legal & General boss to retire September 22, 2011 Legal & General chief executive Tim Breedon is to retire from the insurer at the end of 2012, the company said on Thursday, adding it would start a process to find his successor in due course. “With the company in excellent shape I feel that next year will be the right time to retire from [...]
Easyjet raises profit guidance September 22, 2011 Low-cost airline easyJet raised its full-year profit guidance after more corporate passengers flew with the carrier in the second half and said it would return around £190m to shareholders. “EasyJet’s commercial performance continues to be robust across the network, with particular strength on city routes used by business and short break leisure travellers,” the company [...]
Foster’s shareholders set to give SABMiller bud the go-ahead September 22, 2011 SABMiller’s £6bn bid for Australian brewer Foster’s Group looks set for success as key shareholders backed the sweetened deal on Thursday with only an outside chance of a rival offer now posing a threat. Foster’s agreed to accept SABMiller’s A$5.10 a share offer, a 20 cent-a-share increase on a previous offer, after a three-month battle [...]
FUND MANAGER | OF THE YEAR September 21, 2011 MARTIN GILBERT ABERDEEN ASSET MANAGEMENT Aberdeen edged ahead thanks to a jump of 54 per cent in pre-tax profits in the six months to March. The firm has had to limit the rapid growth of emerging markets funds to prevent them becoming unmanageable. SHORTLIST M&G Investments Aviva Investors Schroders Jupiter Fund Management
INSURANCE COMPANY | OF THE YEAR September 21, 2011 HENRY ENGELHARDT ADMIRAL Car insurer Admiral motored ahead to achieve a seventh straight year of profit growth in 2010, with a 50 per cent revenue increase in 2011. Analysts expect the firm will have a 13 per cent market share by 2013. SHORTLIST Beazley Catlin Resolution Hiscox
RETAIL BANK | OF THE YEAR September 21, 2011 LLOYDS BANKING GROUP The programme of change under new leader Antonio Horta-Osorio won the day for Lloyds, as it accelerates the sale of 632 bank branches. It also won praise for its bold stance on Payment Protection Insurance. SHORTLIST Santander UK Virgin Money Tesco Bank Co-op Bank
PROFESSIONAL SERVICES | OF THE YEAR September 21, 2011 IAIN EVANS L.E.K. CONSULTING L.E.K. is a “wonderful British success story”, said the judges – it now competes with McKinsey, Bain and BCG from a standing start in 1983, over-delivering for its growing roster of private equity clients. SHORTLIST KPMG Ernst & Young Deloitte PwC
ALTERNATIVE MANAGER | OF THE YEAR September 21, 2011 PETER CLARKE MAN GROUP Man Group has returned to positive fund flows after buying GLG Capital for $1.6bn last November. Funds under management have bounced back from the crunch to rise three per cent since the start of 2011 to $71bn. SHORTLIST Bluecrest Capital Laxey Partners Brevan Howard Sherborne Investors
