Dimon set to say sorry for JP Morgan’s $2bn trading losses June 12, 2012 JP MORGAN’S recent trading losses are an isolated incident and the bank is expected to be “solidly profitable” in the second quarter, chief executive Jamie Dimon will tell the US Senate Banking Committee today. Dimon will tell the committee the bank feels terrible about the trading debacle, while emphasising the losses will only hurt shareholders, [...]
Lib Dems will not back Hunt in key vote June 12, 2012 COALITION tensions will rise further today as Liberal Democrats abstain in a parliamentary vote on whether culture secretary Jeremy Hunt should be referred to the ministerial watchdog. Lib Dem MPs agreed to stay out of the vote, which has been called by Labour in an attempt to force an investigation by Sir Alex Allan, the Prime Minister’s [...]
Shareholder activism is set to grow further June 12, 2012 INSTITUTIONAL investors are taking an increasingly active role in the firms in which they invest, according to new research that shows the changes in attitude that paved the way for the shareholder spring. Investors are more likely than ever to demand firms provide clarity on long-term strategy and redraft executive pay deals to incentivise good [...]
Insurers face hit from floods as severe weather sweeps the UK June 12, 2012 BRITISH insurers face big claims for flooding after the heavy rainfalls across the country this month, making it harder for them to hit profit targets and potentially forcing them to raise premium rates for consumers, analysts said yesterday. Hundreds of people were evacuated in west Wales at the weekend after floods swamped caravan parks and [...]
NOBEL LAUREATE OSTROM DIES AGED 78 June 12, 2012 Elinor Ostrom, a professor at Indiana University who was the first woman to win the Nobel Prize for economics, died yesterday from cancer, the university said. She was 78. Ostrom received the 2009 Nobel Prize in Economic Sciences for research on the ways that people organise themselves to manage resources.
£50m offer for Guardian radio June 12, 2012 GLOBAL Radio is thought to have tabled the largest bid at around £50m for Guardian Media Group’s radio business. It is understood that three offers have been submitted for GMG’s radio arm, which was reported in the company’s financial results last year as being worth almost £119m. Global Radio is the largest commercial radio operator in [...]
Referendum for Falklands June 12, 2012 THE GOVERNMENT of the Falklands said yesterday it will hold a referendum next year to “eliminate any possible doubt” about the islanders’ wishes to remain British in the face of Argentina’s sovereignty claims. “Britain will respect and defend their choice,” said Prime Minister David Cameron in a statement. Britain and Argentina in 1982 went to [...]
Sporting success as Olympic interest heads for gold ahead of Games June 12, 2012 IT is not just the competitors who look for success at sporting events. Both Euro 2012 and the London Olympics have numerous high profile sponsors who will be desperate to gain traction from their association. But before they can do that, they need consumers to be engaging with those events. YouGov’s SportsIndex works in a [...]
Remy Cointreau pays special divi June 12, 2012 Remy Cointreau, the French spirit group, said yesterday that it would hand investors a special dividend for the second year running after booming demand for its premium cognac in Asia lifted full-year profits. The group, famous for making Remy Martin cognac and Cointreau liqueur, said it was confident it could generate “steady and profitable growth”.
ENRC pledges more transparency June 12, 2012 ENRC investors approved all resolutions at the mining group’s shareholder meeting yesterday, as the firm promised a simpler and more transparent structure. New chairman Mehmet Dalman said this would include streamlining an African structure that has ENRC controlling its operations through several holding companies with shareholders who are not fully disclosed.
