Jupiter funds boost as investors recapture their taste for risk April 19, 2012 ANALYSTS backed Jupiter Fund Management yesterday despite net outflows in the first three months of the year. The firm reported a surprise £55m of new money into its mutual funds business in the quarter. Assets under management hit £24.2bn at the end of March, up £1.4bn, or six per cent, compared to three months earlier [...]
WH Smith plots overseas units to beat UK dip April 19, 2012 WH SMITH plans to press on with its expansion of lucrative train and airport divisions and overseas units, after they helped the retailer buck the gloom on the high street. The newspaper, books and stationary retailer saw profit before tax jump three per cent to £66m in the six months to the end of February [...]
Travel hub strategy could be too late April 19, 2012 IT is tough out there for everyone on the high street, but things are particularly unpleasant for WH Smith. In an age of digital music downloads and film streaming, it sells CDs and DVDs. In an era of electronic communication, it sells stationary. At a time of declining circulation for paid-for newspapers and magazines, it [...]
MURDOCH TO FACE LEVESON INQUIRY April 19, 2012 NEWS Corp boss Rupert Murdoch will appear before the Leveson Inquiry on Wednesday and Thursday next week, while his son James Murdoch will appear on Tuesday, it was confirmed yesterday. Rupert Murdoch will be questioned about practices at his British newspapers in the light of the phone-hacking scandal that resulted in the closure of News [...]
CITY VIEWS IS KEN LIVINGSTONE A HYPOCRITE FOR USING PRIVATE HEALTHCARE? April 19, 2012 MARTIN CAMB RESOLUTE MANAGEMENT It is a bit of a double standard for a politician who is campaigning for the NHS not to use it, but I think it’s fine for a person to use private healthcare if it’s available to them. ELEANOR RICHARDSON DAC BEACHCROFT Yes. It’s always a difficult decision but I think [...]
IMF chief begs for more cash to help Europe April 19, 2012 GEORGE Osborne last night was refusing to meet International Monetary Fund (IMF) demands to commit more money to bailing out troubled countries, including those in the Eurozone. IMF chief Christine Lagarde began the group’s spring conference with an appeal for cash, warning finance ministers that the Eurozone crisis is still very much a threat to [...]
France prepares to go to the polls as Sarkozy trails behind April 19, 2012 FRENCH President Nicolas Sarkozy is forecast to lose the country’s presidential election ahead of the polls opening on Sunday. Sarkozy is neck and neck in the opinion polls with socialist challenger Francois Hollande for the first round of voting, but is lagging behind when it comes to a run-off vote between the top two candidates [...]
Caixa profits slump after loan provision April 19, 2012 SPANISH bank Caixa yesterday reported an 84 per cent drop in net income to €48m (£39.3m) as the impact of new requirements linked to risky property loans weighed heavily on its quarterly results. The lender said it has absorbed a €2.44bn provision under new rules governing Spanish property loans, the “huge effort” of which has [...]
Aviva reshuffle sees departure of three execs April 19, 2012 IGAL Mayer, the head of insurer Aviva’s flagship European business, has lost his job in a boardroom shake-up designed to “simplify” management and boost profits. Alain Dromer, head of Aviva’s fund management arm, and North American boss Richard Hoskins are also set to leave the firm, the insurance giant said yesterday. “The departure of the [...]
Aldermore makes second-half profit after year of investment April 19, 2012 NEW bank Aldermore wiped out most of its losses last year after increasing its income by more than 50 per cent. The homeowners and small businesses specialist cut its full-year losses by 90 per cent to £899,000 after passing the break-even point at the end of June. The venture, set up by buyout house AnaCap [...]
