Friends Life invests in Malaysia December 13, 2011 Friends Life, the life insurance brand owned by buyout vehicle Resolution, will start selling shariah policies in Malaysia after buying into an Islamic joint venture yesterday. The insurer invested £6m to gain a 30 per cent stake in AmFamily Takaful, a subsidiary of local banking group Ambank, which will sell Shariah compliant family takaful, the [...]
Cenkos picks new chief executive December 13, 2011 Broker Cenkos Securities has chosen a replacement for outgoing chief executive Simon Melling, promoting Jim Durkin who joined the firm as head of corporate broking in March 2005. Durkin was made an executive director of the company in October 2006 but gave up this position in November 2009 to concentrate on his corporate broking role [...]
RSM Tenon plunges 32 per cent December 13, 2011 Shares in accountancy firm RSM Tenon fell by more than 30 per cent during trading yesterday after the company said “erratic markets” were hitting business. At the group’s AGM chief executive Andy Raynor said all of RSM’s services had suffered a fall in year-on-year trading performance. RSM’s next scheduled financial update is due 21 February next [...]
Boeing wins $19bn aircraft order December 13, 2011 Boeing won a $19bn (£12.25bn) deal to sell 150 737 MAX aircraft to Dallas-based carrier Southwest Airlines, in what it called its biggest ever order. The aerospace giant said Southwest is the first customer to finalise an order for the 737 MAX, which is expected to enter service in 2017. The firm order is the [...]
Byrne at odds with Omega’s management December 13, 2011 MARK Byrne, the insurance entrepreneur that is seeking management control of Omega Insurance, has made it clear in recent days that he would be unlikely to wish to work with either the current chairman John Coldman or chief executive Richard Pexton, according to sources close to the group. Byrne’s original tender offer for 25 per [...]
Top London house prices rise by £1,200 every day December 13, 2011 PRIME central London prices are still soaring, according to the Knight Frank index, while the Financial Services Authority (FSA) yesterday revealed mortgage interest rates declined in the third quarter of 2011. Prime prices in central London rose one per cent in November and 12.6 per cent in the last 12 months, taking the average price [...]
Saab gets lifeline payment December 13, 2011 Ailing carmaker Saab has received a first €3.4m (£2.9m) payment from China’s Zhejiang Youngman Lotus as it struggles to stay in business. The company also gained further legal leeway, when a crucial court hearing on its future which had been due at the end of this week, was postponed earlier in the week.
Bwin.Party trading is in line December 13, 2011 Online gambling company Bwin.Party’s digital entertainment trading since the end of September is in line with expectations, the group said yesterday. Underlying margins for the full year are expected to be in the range of 22 per cent to 24 per cent. Bwin.Party also reported several interested buyers for Ongame’s B2B business.
Imagination knows no bounds December 13, 2011 Imagination Technologies, software creator for the graphics chips used in smartphones, yesterday reported a half-year revenue of £56.3m, an increase of 28 per cent on the same period last year. Royalties for the six months were up 26 per cent while licensing revenue rose 65 per cent. Pre-tax profit jumped 35 per cent to £10.4m.
Travis Perkins hit by Wickes December 13, 2011 Wickes owner Travis Perkins has been dragged down by falling sales in the kitchens and bathrooms division of its DIY stores, but said that overall trading remained in line with its expectations. Like-for-like sales at Wickes fell by 6.8 per cent over the last eight weeks, but its parent company, Travis Perkins, fared better as [...]
