ANALYST VIEWS: IS THE GROWTH SEEN AT SAINSBURY’S SUSTAINABLE? May 11, 2011 RICHARD HUNTER | HARGREAVES LANSDOWN Sainsbury is positioning itself for further growth, especially in the areas of convenience stores, online business, and an increasing move into non-food products. On the downside, wider economic uncertainty remains and cheaper selling prices do not always equate to higher profits, since margins are squeezed. CLIONA LYNCH | VERDICT RESEARCH [...]
More work placements will benefit London May 11, 2011 IT IS the age-old paradox of London. The city is a global economic powerhouse, a job-creation machine, but has stubbornly high unemployment. It is one of the world’s great training and education capitals, where people flock from far and wide to improve their skills, and yet it has a large pool of unskilled workers. Two [...]
DTZ shares soar on hopes of bid May 11, 2011 BELEAGUERED property adviser DTZ Holdings saw its shares soar almost 40 per cent in trading yesterday after it said it had received a possible offer. DTZ said it had received “a number of approaches for investment…including a possible offer” for the company. DTZ, majority-owned by French family trust Saint George Participations, said it was holding [...]
Pru profits up as US and Asia demand soars May 11, 2011 BURGEONING sales in the US and Asia pushed Prudential’s profits up 17 per cent in the first-quarter of 2011, it said yesterday. New business profits at the life insurance and pensions giant rose to £498m from £427m in the first-quarter of 2010 while new business sales increased by ten per cent to £888m. Higher-than-expected demand [...]
Sportingbet in talks to buy its Australian rival May 11, 2011 ONLINE gaming firm Sportingbet is in advanced talks to buy Australian peer Centrebet in a £117m all-share deal. The British firm is considering a bid of A$2 (60p) per share, although said there was no certainty a transaction would be completed. Any purchase of Centrebet, which is Australia’s fourth-largest online gambling firm, would be dependent [...]
Outflows put pressure on RAB to delist May 11, 2011 TROUBLED hedge fund RAB Capital has said its days as a publicly quoted company could be numbered. The firm, once a pin-up for London’s finance boom, said it had received fresh redemption requests and that one of its key fund managers is to leave the company. Gavin Wilson, co-manager of RAB’s Energy and Octane funds, [...]
Rathbones breaks £16bn assets under management May 11, 2011 WEALTH manager Rathbone Brothers has increased its assets under management (AUM) to more than £16bn for the first time. The historic fund house said its asset pool had hit £16.04bn in the first three months of this year, up 2.6 per cent from the £15.6bn it held at the end of 2010. The increase compares [...]
The coalition is one year old: How well do you think it is performing? May 11, 2011 THE coalition has celebrated its first year in power, but signs of tension are starting to show. To have your say on how well the government’s major players are performing, apply to join our Voice of the City poll at cityam.com/panel before 12pm tomorrow. You could be in with the chance of winning a free [...]
RADIO SILENCE BY SKY BOSS ON MURDOCH BID May 11, 2011 INNOVATION was the theme for BSkyB chief executive Jeremy Darroch at the Institute of Directors’ convention yesterday, where fellow speakers included McDonald’s chief executive Jill McDonald, chancellor George Osborne and shadow chancellor Ed Balls. “The most successful businesses are those that constantly seek to adapt and renew themselves,” said Darroch, as he charted the broadcaster’s [...]
Brazil allows BP purchase May 11, 2011 BRAZIL’S energy regulator ANP said yesterday it has approved BP’s purchase of assets from US-based Devon, a deal that was slowed by its massive Gulf of Mexico oil spill. The approval comes after BP sold assets around the world to help pay for the effects of the oil spill at the Macondo well, which delayed [...]
