Intl Personal Finance profits up October 25, 2011 Emerging markets lender International Personal Finance posted higher third-quarter profit yesterday, helped by growth in customer numbers and credit volume issued, and said it could weather the global economic turmoil. The company said pre-tax profits for the third quarter had risen by 11 per cent to £27m, with revenues rising by nine per cent over [...]
Greencore gets takeover interest October 25, 2011 Shares in Irish food group Greencore jumped almost 10 per cent yesterday after it revealed a preliminary takeover approach from an unnamed company. Greencore, whose merger with Northern Foods fell through in March, bought rival Uniq in July to improve its ties with Marks & Spencer. The maker of Weight Watchers meals and Bisto gravy [...]
Abu Dhabi bank doubles profits October 25, 2011 Abu Dhabi Commercial Bank, the fourth largest bank in the UAE by market value, nearly doubled its third-quarter net profit yesterday to 607.6m dirhams (£103.4m), beating analysts forecasts, helped by lower impairment provisions and higher net interest income. Net interest and Islamic finance income grew to 1.33bn dirhams in third quarter compared with 877m dirhams [...]
Babson fund shelves London IPO October 25, 2011 Market turbulence claimed the scalp of another IPO yesterday, as US fund manager Babson Capital said it was shelving the imminent £125m float of one of its funds. Babson said the Global Floating Rate Loan Fund, which hoped to use the money raised in London to invest in European and North American assets, said that [...]
EU to lift SME accounting burden October 25, 2011 The smallest European businesses will have to produce smaller and less onerous financial reports and face less stringent audits under new proposals tabled by the European Commission that could save businesses across the
Puma looks to ramp up US turnover October 25, 2011 GERMAN sporting goods maker Puma said it had more work to do to attract customers in the US after sales there fell in the third quarter. For the three months to the end of September Puma reported sales of €841.6m (£730.8m) and net profit of €81.7m. Sales in North America fell by a single-digit amount, [...]
King: Summit can’t fix euro fundamentals October 25, 2011 A LONG-TERM fix for the Eurozone crisis will not be found at the current summit, Bank of England governor Sir Mervyn King predicted yesterday. “The aim of the measures to be introduced over the next few days is to create a year or possibly two years’ breathing space,” he told the Treasury select committee. “The [...]
Huhne backs troubled CCS plan October 25, 2011 ENERGY secretary Chris Huhne yesterday reinforced government support for the UK’s work on renewable energy projects, just a week after the future of the costly carbon capture and storage (CCS) scheme was thrown into doubt. Huhne yesterday signed a deal with Norway to cooperate on carbon capture and storage projects, as well as agreeing to [...]
No.10 tries to move on from EU rebellion October 25, 2011 THE GOVERNMENT tried to draw a line under a humiliating backbench rebellion over the EU yesterday, claiming it had already begun work on repatriating powers from Brussels back to the UK. David Cameron, the Prime Minister, was left politically wounded on Monday night after 81 of his backbenchers voted for a referendum on the EU in [...]
CITY VIEWS: HAS DAVID CAMERON BEEN DAMAGED BY THE TORY REBELLION? October 25, 2011 TIM KONIG | UBS “Yes. Any political leader that has that number of his own party rebelling against him opens himself up to reputational damage.” LEE ADGIE | TD SECURITIES “Potentially yes. The fact that so many Tory MPs defied him will always have a damaging effect. Over a matter of time it is possible [...]
