EU tells UK to relax liquids on planes ban April 25, 2011 BRITISH airports face disastrous consequences if they fail to agree to the lifting of a ban on carrying liquids onto aeroplanes, the EU has warned. The warning comes after Philip Hammond (pictured), the transport secretary, refused to go ahead with the first phase of relaxing liquids restrictions, which is due this week. From 29 April, [...]
Why giving listed status to Broadgate is wrong April 25, 2011 LAST week the City of London Corporation’s Planning and Transportation Committee approved plans for a 13 storey office block at 5 Broadgate to provide a new European headquarters for UBS. The fact that UBS has taken a long-term decision to be based in the City for the foreseeable future is an encouraging one. However, this [...]
Standard Life results aim to justify outlay April 25, 2011 STANDARD Life’s investment strategy will be under scrutiny on Thursday when it posts first quarter results, with analysts expecting long-term savings net flows to increase by 18 per cent. Shares in the Edinburgh-based life insurer fell more than 18 per cent at the end of March following full-year results that highlighted its higher investment spending. [...]
NYSE targets higher savings April 25, 2011 NYSE Euronext sees cost savings in its $9.8bn (£5.9bn) deal with Deutsche Boerse at closer to €400m (£354m), up by about a third from its initial estimate, according to a spokesman. NYSE chief executive Duncan Niederauer also sees the biggest NYSE and Deutsche Boerse customers saving at least $3bn from the combination of their European [...]
AXA Real Estate raises €1.26bn from investors April 25, 2011 AXA Real Estate Investment Managers raised €1.26bn (£1.1bn) in the first quarter of 2011, with €800m raised as segregated accounts to reflect an ongoing demand for diversified mandates. Axa Real Estate, the largest real estate manager in Europe with €39.9bn in assets under management, also raised €460m for two of its pan-European institutional investment vehicles, [...]
Overseas focus behind record results for SLR April 25, 2011 ENVIRONMENTAL consultant SLR has reported record full-year results, posting a 24 per cent rise in profit despite a contraction of its core UK market. The company, which is backed by private equity firm 3i, has spent the past year expanding into resource-driven economies through targeted acquisitions in Alaska, Australia and South Africa, to offset reduced [...]
Insurer will have to prove investment will not erode the stock’s meaty yield April 25, 2011 ALL eyes will be on Standard Life’s ability to generate significant amounts of cash when the insurer reports first quarter results this Thursday. At the end of March, shares in the firm lost more than 18 per cent after operating capital and cash generation from continuing operations was 23 per cent lower at £287m. Cash generation [...]
CITY MOVES | WHO’S SWITCHING JOBS April 25, 2011 Gap The US retailer has announced that it will combine its international operations into one London-based division, to be led by Stephen Sunnucks, the new president, international of Gap Inc. Since joining the company five years ago, Sunnucks has guided the growth of Gap and Banana Republic in Europe. Gap has also appointed John Ermatinger, [...]
BEST OF THE BROKERS April 25, 2011 RUSHYDRO Goldman Sachs has upgraded the hydroelectricity company to “buy”, seeing its underperformance in the year to date as an opportunity to invest. The broker thinks the market has overreacted to the news flow on regulatory pressure on electricity tariffs and the risks associated with M&A activity, and expects an 18 per cent increase in [...]
US stocks fall over fears of commodity price rises April 25, 2011 IN the lightest volume session of the year, US stocks fell yesterday after a lowered outlook from Kimberly-Clark increased concerns about higher commodity costs squeezing profits in coming quarters. About 5.4bn shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below the daily average of 7.74bn. Kimberly-Clark fell 2.7 per [...]
