NO SLY PRACTICES AT MIRROR, SAYS BAILEY October 6, 2011 A probe of the Trinity Mirror newsrooms ordered by chief executive Sly Bailey has concluded there is no evidence of widespread phone hacking at the company, recommending only small tweaks to the firm’s practices. The results of the probe come amid fresh allegations that the firm’s People title routinely hacked into voicemails, made by a [...]
Brewin sees assets grow amid turmoil October 6, 2011 STOCKBROKER Brewin Dolphin grew its assets in the year to the end of September as investor patterns changed amid market fears. Funds under management grew 3.4 per cent as investors poured money into Brewin’s discretionary range of products, ahead of tougher market conditions in the fourth quarter. Brewin now runs £24bn on behalf of private [...]
MEET THE ADVISERS October 6, 2011 LAWRENCE GUTHRIE HAWKPOINT PARTNERS HAWKPOINT Partners is advising Arbuthnot on the Secure Trust Bank flotation process, fielding a team led by Lawrence Guthrie, managing director in its financial services team. Guthrie has previously advised extended warranties specialist Domestic and General Group on its sale to Advent International for £542m, and helped the Manchester-based Davenham Group [...]
Arbuthnot to float its Secure Trust Bank arm October 6, 2011 ARBUTHNOT Banking is to float its Secure Trust Bank division on London’s junior Aim stock market, as part of plans to develop its business and compete with the UK’s major lenders. Arbuthnot expects Secure Trust Bank’s flotation to take place by the end of the month. It will place new and existing shares in Secure Trust [...]
Cuts loom at F&C as Grisay steps down October 6, 2011 ACTIVIST investor Edward Bramson is expected to slash costs at F&C Asset Management after the departure of the chief executive, his rival, cemented his control of the group. Bramson, who won a bitter boardroom battle to lead the board of F&C in February, was yesterday named executive chairman after chief executive Alain Grisay decided to [...]
Private equity house Endless leads turnaround at Vasanta October 6, 2011 VASANTA, the office supplies business propped up by private equity in the aftermath of the financial crisis, has narrowed its annual losses. The firm, which survived in July 2009 after Endless injected £30m of new equity alongside the company’s bank group, reported an operating loss of £1m for 2010, down 64 per cent from £2.8m [...]
Slow start to third quarter for services October 6, 2011 SERVICE sector output edged higher in July, marking a tepid start to the third quarter, official data showed yesterday. Small rises were recorded in business services, finance and government activity. The Office for National Statistics (ONS) said service sector output rose by 0.2 per cent in July after a 0.3 per cent contraction in June. [...]
Falling car registrations offset by high fleet sales October 6, 2011 NEW private car registrations plummeted by 9.3 per cent in September, compared to the same time last year. “The outlook for car manufacturers looks increasingly worrying with the economy struggling markedly, and consumer and business confidence low,” commented economist Howard Archer of IHS Global Insight. Overall, however, the figures exceeded expectations, with a surge in [...]
German industrial orders drop October 6, 2011 German industrial orders fell unexpectedly in August on a decline in domestic demand, data from the economy ministry showed yesterday, adding to signs of a slowdown in Europe’s largest economy. Seasonally- and price-adjusted order intake sank 1.4 per cent on the month, driven by a 3.2 per cent drop in domestic orders. The mid-range forecast [...]
Dutch inflation climbs again October 6, 2011 Stubborn inflation in the Netherlands rose again last month, according to figures released yesterday. The country’s consumer price index increased to 2.7 per cent annualised, above expectations. The rate of CPI inflation had held at 2.6 per cent in August.
