Standard unveils ambitious plans for consumer market October 31, 2005 Standard Chartered is aiming to double profits from consumer banking every three to five years, it said yesterday. The London-based bank, whose activities are focused in Asia, also said it was optimistic about its prospects, as it began a briefing trip for analysts in Dubai and Korea. Shares in Standard Chartered have been climbing steadily [...]
Gas crisis is ‘unlikely’ October 31, 2005 British Gas is to hit back at speculation regarding gas shortages today, saying that it is becoming “a scare story that borders on the irresponsible”. Mark Clare, managing director of British Gas Residential, will be giving evidence at the Trade and Industry Committee inquiry on the security of gas supply, along with Ofgem and Malcolm [...]
Mattioli Woods on acquisition trail October 31, 2005 After its AIM float at the end of November, specialist pensions consultancy Mattioli Woods is to start to make acquisitions in an industry it says “would benefit from consolidation”. The company, which provides pensions consultancy and administration services to owner-managers, senior executives and professionals, is raising about £6m for a total market value of between [...]
Dalgleish set to pocket £20m from CBRE deal October 31, 2005 Malcolm Dalgleish is not yet as wealthy as Philip Green, but he has just become almost £20m richer. In property circles Dalgleish is known as Green’s right-hand man, and he has just sold his business for around £30m to the world’s largest real estate advisory firm. He stands to make up to £20m from the [...]
60,000 expected to go bankrupt in 2005 October 31, 2005 Personal bankruptcies are rocketing. Figures from the Department of Trade and Industry (DTI) this week are expected to show that more people are being declared insolvent now than at the height of the 1992 recession. Capital Economics has forecast that there were 14,700 bankruptcies in the last quarter, 45 per cent more than in the [...]
Longbridge back to work in 2007 October 31, 2005 The new Chinese owners of MG Rover are aiming to resume production at the Longbridge plant at the start of 2007. Executives from Nanjing Automobile said that in order to do so, it would need to tie up a deal with a partner, and that it was in talks with several parties. One of the [...]
L&G blocks Sky’s plan for buyback October 31, 2005 BSkyB is set for a stormy Annual General Meeting (AGM) on Friday after major shareholder Legal & General (L&G) came out publicly over the weekend against the company’s share buyback plan. There is a history of acrimony between BSkyB and L&G — the fund manager voted against a buyback plan last year. Shareholder News Corp, [...]
Economy ready to bounce back October 31, 2005 The economy looks set to rebound strongly with growth exceeding 3 per cent by April 2006, according to a study from accountancy firm BDO Stoy Hayward, writes Helen Power. This is in line with Chancellor Gordon Brown’s forecasts which have until now been dismissed as over-optimistic. Brown has said that GDP will grow by between [...]
P&O faces £3bn bid from Dubai October 31, 2005 P&O, the ferries, ports and freight business, is bracing itself for a takeover approach from Dubai Ports World that could value the company at up to £3bn. Britain’s largest ports group, and the fourth largest in the world, said last night it had received an approach from a third party, although it declinedto identify the [...]
Hitting Heights: Richard Downs October 31, 2005 He started the company as a theoretical case study for part of his MBA — then hired a staff of dedicated skiers to ensure a real-life peak performance. As stars of the dotcom era crashed and burned, one travel company bucked the trend to become one of Britain’s biggest online success stories. Founded seven years [...]
