Tui Travel helps put parent firm on an even keel February 13, 2013 TUI Travel’s growing holiday sales have helped parent firm Tui AG beat quarterly forecasts and pare losses. The German firm, which holds 56 per cent of FTSE 100-listed Tui Travel, said yesterday its turnover rose 1.4 per cent on last year to €3.5bn (£3bn), or flat excluding currency changes, in the first financial quarter. It [...]
BT executive Liv Garfield joins Tesco board February 13, 2013 OLIVIA Garfield, chief executive of BT’s Openreach, is to join the board of Tesco as a non-executive director, the supermarket giant announced yesterday. Garfield has been with BT since 2002 and head of its superfast broadband division since 2011. Tesco said she will bring “valuable experience of new and emerging technologies” when she joins the [...]
US corporate results round up February 13, 2013 Deere results beat forecasts on strong farm demands DEERE & Co, the world’s largest farm equipment maker, reported first-quarter results above analysts’ expectations yesterday as farmers geared up to plant the biggest corn crop in US history following the worst drought in the US Midwest in 56 years. The company also raised its forecast for [...]
Ros Altmann steps down as head of Saga February 13, 2013 SAGA boss Ros Altmann yesterday announced she was stepping down as director-general of the over-50s lobby, after two and a half years in the role. The tireless advocate for pensioners, and fierce critic of quantitative easing (QE) said she had enjoyed her role, but wanted to spend more time in London – Saga is based in [...]
Hogg Robinson revenues drop as business travellers spend less February 13, 2013 BUSINESS travel management company Hogg Robinson said yesterday the group had continued to trade in line with expectations since October last year, as revenues for the four months to the end of January fell by seven per cent. The firm, which plans trips for corporate clients, has been hit by businesses cutting back on travel [...]
Harvey Nash lifts dividend as profits grow February 13, 2013 GLOBAL specialist recruiter Harvey Nash said yesterday it plans to increase its final dividend by 10 per cent after it posted a slight increase in full-year profits, adding that its full-year results would be ahead of expectations. Pre-tax profit at the firm, which specialises in technology and IT service roles, is expected to rise to [...]
City Moves for 14 February 2013 | Who’s switching jobs February 13, 2013 KNG Securities The fixed income specialist has announced the appointment of Armando La Morgia as a head of structured finance. He joins from Hemera Capital Management, where he focused on residential mortgage-backed and consumer asset-backed securities. Lewis Silkin Alex Kelham will join the City law firm as senior associate in its sports group. Kelham spent [...]
IMF demands details on EU banking union February 13, 2013 THE EU must lay out a careful plan towards a banking union, ironing out disagreements and preparing thoroughly if the new system of regulation is to work smoothly, the International Monetary Fund (IMF) warned yesterday. A lack of good staff, a need for increased cooperation between national authorities and determining the exact nature of the [...]
Merkel vows to fight tax havens at next G8 meeting in the UK February 13, 2013 CHANCELLOR Angela Merkel took aim yesterday at multinational corporations that use tax rules in Europe and the United States to avoid payments and said the Group of Eight (G8) plans to fight tax havens. “It’s not right that giant global companies have huge sales here (in Germany), in all of Europe, in the United States [...]
December sees factory output rise in Eurozone February 13, 2013 EUROZONE factory output grew for the first time for five months in December, but analysts said the above-expectations rise would not stop GDP from contracting. Industrial production grew 0.7 per cent in the final month of 2012, Eurostat said yesterday, the first month of growth since August, and almost double consensus expectations. But Ben May [...]
