Ashurst sees revenues increase May 29, 2012 Law firm Ashurst posted a six per cent rise in turnover for its 2011-12 financial year yesterday, with revenues rising to £322m from £303m in the previous 12 months. The figures do not include revenue derived from Ashurst’s tie-up with Australian firm Blake Dawson, which was agreed in September last year. Though Blakes is now [...]
Electra’s net asset value rises May 29, 2012 Electra private equity yesterday posted a jump in half-year net asset value (NAV). The firm said diluted NAV per share rose 6.1 per cent to 2,360p in the period to 31 March and said it had an investment capacity of £449m. It believes a broader funding shortfall will create more chances to invest in the [...]
Canaccord plans move to LSE May 29, 2012 Canaccord Financial has said it will leave small cap index Aim and move to the main market of the London Stock Exchange. The change comes after the firm agreed to buy London stockbroker Collins Stewart Hawkpoint in December.
Gupta argues over evidence May 29, 2012 A number of people other than Rajat Gupta could have leaked confidential information about Procter & Gamble’s sale of its Folgers coffee unit in 2008, Gupta’s lawyer implied to the jury at his insider-trading trial yesterday. Gupta, who was arrested last October, has pleaded not guilty and argues that the prosecution’s evidence is circumstantial.
Better weather prompts retail rebound in May May 29, 2012 SHOPPERS hit the high street in force this month after April’s washout, industry data showed yesterday, and retailers expect sales to remain strong through June. Sales were higher this month than in May of last year according to 43 per cent of retailers, while just 23 per cent reported a fall – leaving a positive [...]
Facebook escapes blame over botched listing but banks disliked May 29, 2012 FACEBOOK’S recent IPO debacle has had a mixed impact on the perception of the US brands involved. YouGov’s BrandIndex clearly registers the negative buzz surrounding alleged mismanagement of the Facebook IPO. Our Buzz score is driven from the net of those that say they have heard negative buzz about a brand compared with those who [...]
Top economist: prepare for Grexit May 29, 2012 It is sensible to make contingencies to insulate the UK from any Eurozone breakup, the Bank of England’s chief economist Spencer Dale said yesterday, stressing the importance of fostering the gradual economic recovery which he believes is now underway. “The Eurozone is our largest trading partner, and there are strong financial links,” he explained to [...]
Japanese jobless numbers climb May 29, 2012 Japan’s jobless rate rose in April but the availability of jobs improved, government data showed yesterday, supported by hiring for reconstruction-related jobs in the earthquake-battered north east. The seasonally adjusted unemployment rate rose to 4.6 per cent from 4.5 per cent in March, compared with economists’ median forecast of 4.5 per cent, figures from the [...]
Barclays jumps the gun on sunny high street sale stats May 29, 2012 Whoops! The British weather and bank holidays are often blamed for economic under- performance, even when it’s not especially bad. So yesterday when the CBI issued its latest take on the state of distributive trades, a statement from Richard Lowe, head of retail and wholesale at Barclays, promptly followed blaming the rain: “The biblical weather [...]
Keep the royal flag flying high May 29, 2012 The City of London Corporation is giving away 250 Union Jack flags to wave from office windows as the Queen visits the City next Tuesday as part of the Jubilee celebrations. Businesses interested in getting hold of the 1.5 by one metre polyester flags need to email TC-PublicRelationsAdmin@cityoflondon. gov.uk, specifying their address. “We’re asking them [...]
