Pensioners’ lump sums decline June 13, 2011 Eight out of 10 pensioners are taking tax-free lump-sums from their pension funds at the point of retirement, research from Prudential showed yesterday. The average lump sum totals £21,500, down from £24,154 in 2008.
Italian industrial output jumps June 13, 2011 Industrial output in Italy surprised on the upside yesterday, jumping one per cent in April.
Trichet repeats hawkish oil call June 13, 2011 The European Central Bank needs to stop recent oil and commodity price rises from triggering inflation, its president Jean-Claude Trichet said yesterday.
John Wood to hand £665m to investors June 13, 2011 OIL field services provider John Wood Group is to return £665m to its shareholders through a one-off return of £1.40 per share, it said yesterday. The cash will be released to all shareholders as of 1 July through an issue of unlisted B and C shares that either pay a dividend or are bought back [...]
CITY VIEWS: ARE YOU WORRIED ABOUT THE THREAT OF CYBER ATTACKS? June 13, 2011 ALEX JEFFREY | QLP “Yes, we should always be wary of the things we put on the internet. For a more popular site, such as the PlayStation Network, there needs to be a higher level of security in place to stop people getting the information that can be used against us.” LUCY WEBB | THOMAS [...]
IMF says it is investigating cyber attack June 13, 2011 THE IMF was last night investigating the cyber attack that may have accessed a wealth of sensitive documents and emails. Industry sources say a foreign government is the most likely origin of the attack, although no country or organisation has been named. An IMF spokesman confirmed the attack has taken place and said the organisation [...]
CITY MOVES | WHO’S SWITCHING JOBS June 13, 2011 HSBC Alternative Investments The division responsible for hedge funds, private equity and real estate offerings across the HSBC group has appointed Simon Jennings as managing director, head of private equity. Jennings has more than 22 years of private equity investment experience. Most recently, he co-founded and ran the private equity business at UBS Wealth Management, [...]
BEST OF THE BROKERS June 13, 2011 DP WORLD HBSC rates the port owner “neutral” and has raised its target price to 850p or $13.93. The broker has updated its forecasts on the firm following its dual listing from the London stock exchange, but reiterates its upbeat outlook over the next few years. HSBC sees the firm as a broad exposure play [...]
Miners lift FTSE amid talk of ENRC takeover June 13, 2011 MINERS dug deep to help lift Britain’s FTSE 100 share index marginally yesterday, as bid talk swirled around Kazakh miner ENRC. ENRC rose 4.7 per cent, outperforming a 0.2-per cent rise on the British mining index, after the Sunday Times said commodities trader Glencore was considering a £12bn takeover bid. ENRC shares have been savaged [...]
US shares tread water June 13, 2011 US stocks drifted sideways yesterday, in what is likely a temporary pause in a sell-off caused by fears of another downturn. The benchmark S&P 500 rose for only the second time in the past nine sessions while the Nasdaq 100 managed to survive a fall below its 200-day moving average at 2,218, quickly reversing those [...]
