Hannover Leasing buys £139m City landmark September 1, 2011 FUND manager Hannover Leasing has bought a trophy City office building for £139m. The German firm has bought 30 Crown Place, a 19-storey building near Liverpool Street station, from the Greycoat Central London Office Fund, in a move that underscores a trend for foreign investors flocking to London as a safe haven market. The 198,000 [...]
Hargreaves Lansdown stock soars despite fears over FSA September 1, 2011 SHARES in Hargreaves Lansdown soared yesterday after the wealth manager reported high levels of new business and shrugged off concerns over the regulator’s industry review. Hargreaves stock closed up 17.7 per cent at 508.5p after it said new contracts in July and August were up by a third on last year. Founder Peter Hargreaves told [...]
ANALYSTS: WILL FSA RULES HIT THE STOCK? September 1, 2011 STUART DUNCAN | PEEL HUNT While Hargreaves believes the revenue model could be adapted to meet potential regulatory changes (more explicit charging likely), there is clearly an element of uncertainty on the potential impact. Fundamentally the business continues to perform strongly. JON HOCKING | MORGAN STANLEY We continue to believe that HL should trade at [...]
38,000 households find work in slow recovery September 1, 2011 THE number of households without a single working adult was 38,000 lower in the three months to June, compared to the previous year, as the UK’s labour market improved. Yet there remained 3.88m households without an employed adult, the Office for National Statistics (ONS) said yesterday, down from 3.92m in April to June 2010. And [...]
London 2012 IMAGE OF THE WEEK September 1, 2011 In the run-up to the 2012 Olympic and Paralympic Games, City A.M. is publishing its Olympic Image of the Week. Please email us your photos to pictures@cityam.com with IOW2012 in the subject line. Full details: www.cityam.com/ london-2012.
Healthcare Locums hits back at funds September 1, 2011 THE public spat over the finances of medical hiring firm Healthcare Locums deepened yesterday as the company issued a searing attack on some of its major shareholders. Healthcare Locums is battling a group of its investors including US investment funds Arundel Capital and Permian Investment Partners that have expressed their horror at a plan to [...]
Spirit outperforms struggling Punch after demerger September 1, 2011 SPIRIT Pub Company reported strong sales growth in the fourth quarter and said it was on track to meet full-year expectations as it gave its first trading update since demerging from Punch Taverns in August. The company, which owns around 900 pubs that it manages directly, said sales at pubs open more than a year [...]
Restaurant Group piles on an 8pc profit September 1, 2011 RESTAURANT Group has shrugged off concerns related to rising input costs and lower consumer morale by posting an eight per cent rise in its first-half adjusted pre-tax profit, and said it expected to make further progress this year. The company, which owns the Garfunkel’s and Frankie & Benny’s chains, said yesterday year-to-date total turnover was [...]
Judge rejects Oracle $1.3bn verdict against SAP after copyright dispute September 1, 2011 A FEDERAL judge rejected a jury award of $1.3bn (£1.15bn) to Oracle in a copyright infringement lawsuit against SAP, paving the way for a possible new trial in a years-long legal dispute. In a ruling released yesterday, US District Judge Phyllis Hamilton found that Oracle had proven actual damages of only $272m. She called for [...]
FSA freezes firms’ assets September 1, 2011 THE Financial Services Authority (FSA) has frozen the assets of firms it says manipulated share prices on the London Stock Exchange and other trading platforms, the latest sign of the regulator’s more aggressive approach to suspected abuses. “These companies engaged in repeated cross-platform market manipulation, which the FSA will not tolerate,” Tracey McDermott (pictured), the [...]
