Activist Bramson makes way for fresh blood in F&C shake-up December 4, 2012 ACTIVIST shareholder Edward Bramson yesterday announced he was stepping back from leading his current project F&C Asset Management after promoting a new chief executive to lead the firm. Bramson, who took over F&C through his Sherborne Investments company with a 20 per cent stake, is moving from his role as executive chairman to become non-executive [...]
Former FSA boss Sants in talks to take up a post at Deloitte December 4, 2012 FORMER financial watchdog boss Hector Sants is in talks to take a new job with professional services giant Deloitte, a source said yesterday. Sants, who is on gardening leave after quitting the top job at the Financial Services Authority in June, is in discussions to join the firm next year. However, his job description remains [...]
Dexia in talks to sell asset manager unit December 4, 2012 FRANCO-Belgian group Dexia is in talks on a disposal which will mark the near completion of its dismemberment following its virtual collapse in the wake of the financial crisis. The group, which had expanded to become world’s biggest lender to local authorities before its access to credit dried up and it had to be bailed [...]
Buffett’s Berkshire asks Swiss Re for $1bn in insurance spat December 4, 2012 WARREN Buffett’s Berkshire Hathaway conglomerate is claiming up to $1bn (£620m) from reinsurer Swiss Re in a dispute over a life insurance deal they agreed in 2010. Berkshire Hathaway is “alleging damages of between $0.5 and $1bn”, Swiss Re said on page 73 of the third-quarter earnings statement it issued on 8 November, adding the [...]
Carney shows hawkish instincts by hinting at an interest rate rise December 4, 2012 THE BANK of Canada yesterday held interest rates at one per cent and hinted that a rate rise could come in the near future. That hawkish note comes despite fears the US “fiscal cliff” could send the world economy tumbling, and marks a stark contrast to the very loose policies of the Bank of England, [...]
Britons seeking sunshine drive profit up for Tui December 4, 2012 TUI TRAVEL, the holiday giant, said yesterday that package holidays are making a revival, helping to boost full-year profits for the firm. Chief executive Peter Long said: “We’re seeing a renaissance in demand for package holidays and a strong trend towards all-inclusive holidays with customers seeking greater certainty.” The operator of Thomson and First Choice [...]
Character earnings down despite Peppa Pig December 4, 2012 CHARACTER Group, the toymaker that manufactures Peppa Pig and Fireman Sam-branded toys, announced a 22 per cent fall in pre-tax profit yesterday despite good international demand for its products. The firm blamed poor sales of Zhu Zhu Pets and a weak UK market for an overall drop in sales, which fell from £94.95m a year ago [...]
Have TUI travel’s full year results met expectations? December 4, 2012 JAMES HOLLINS INVESTEC Despite concerns over the ongoing competitive threat of low cost carriers, online agencies and a resurgent Thomas Cook, Tui Travel is trading well into the winter season and has a sound operational base from which we forecast the group can deliver 2013 earnings growth. NICK BATRAM PEEL HUNT This was a good [...]
London living standards the best in the UK December 4, 2012 LONDON’S standard of living is higher than in any other city in the UK, data out yesterday showed, and its infrastructure is among the best in the world. London has the 20th best standard of living in Europe, and the 38th best in the world, Mercer judged in a report out yesterday. The report considered the [...]
What is your favourite thing about London? December 4, 2012 DOMINIC BUTCHER LOGICALIS The best thing is the buzz. There’s always something going on. It’s a 24 hour city, with an eclectic mix of people who live and work here, and always something interesting to do. PHILIPPE LACHÉ SEARCYS The best thing about London is the wealth of interesting people from all over the world. [...]
