Investors turn to ISAs to save cash from tax March 10, 2011 CONSUMERS are turning to equity Individual Savings Accounts?(ISAs) in a show of strength for the product. Seventy per cent of investors believe it is important to take out a stocks and shares ISA each year, according to the Investment Management Association (IMA). One third of investors also planned to invest the maximum £10,200 an equity [...]
Perform set to list on LSE in £550m IPO March 10, 2011 DIGITAL sports media group Perform will float on the London Stock Exchange (LSE) with an expected valuation of up to £550m. Perform owns one of the largest portfolios of digital sports rights in the world, including international rights to Serie A, America’s MLS and the NBA. It will float around 25 per cent of the [...]
Gartmore fund managers exit due to takeover March 10, 2011 THREE key Gartmore fund managers will exit as a result of it being taken over by Henderson. Anglo-Australian fund manager Henderson will also axe 14 Gartmore funds, as it completes its takeover of the British firm. Senior Gartmore managers Dan Roberts, John Anderson and Leigh Himsworth will not join Henderson following the takeover, ceding control [...]
Deutsche to advise UKFI March 10, 2011 DEUTSCHE Bank has won the government’s biggest advisory mandate since it bailed out failing banks during the financial crisis, with UK Financial Investments (UKFI) bringing the bank on board to secure the privatisation of Northern Rock. UKFI, which manages the government’s stake in nationalised banks, chose Deutsche ahead of Morgan Stanley, which had been considered [...]
Tchenguiz lawyer confident the tycoons will bounce back March 10, 2011 ONE of the Tchenguiz Brothers’ long-standing lawyers last night predicted the pair would bounce back from their travails at the hands of the Serious Fraud Office (SFO) following their lengthy questioning by police officers on Wednesday. Sarosh Zaiwalla, whose firm acted for them for three years until the end of last year, said: “The SFO [...]
IG Group warns on tough final quarter despite revenue increase March 10, 2011 BRITISH spread-betting company IG Group yesterday warned it would face tough comparatives in the final quarter of the year after it posted revenue up ten per cent in the third-quarter due to increasing client activity. IG said volatility which typically boosts client activity had been generally low in the last quarter and particularly subdued in [...]
Spain hit by Moody’s debt downgrade March 10, 2011 EUROPE’S sovereign debt fears resurfaced yesterday when rating agency Moody’s downgraded Spain by one notch and warned of further cuts. The sovereign debt rating cut, to Aa2 from Aa1, put pressure on the euro and pushed up Spain’s ten-year bond borrowing costs. The agency said it feared that restructuring Spain’s banks could cost €50bn (£43m) [...]
Rio Tinto charms Riversdale investors with £2.4bn offer March 10, 2011 RIO TINTO made a final bid to woo coal miner Riversdale’s institutional investors yesterday by sweetening its takeover offer to A$3.9bn (£2.4bn). Rio warned yesterday that it will not raise its offer price above the new A$16.50 a share level, and has given shareholders another two weeks, until 1 April, to accept. Riversdale chief executive [...]
Churchill appeals licence decision March 10, 2011 Churchill Mining said yesterday it plans to appeal against an Indonesian tribunal’s decision to revoke its coal mining licences for the East Kutai project. The firm saw its shares tumble almost 70 per cent last week when the tribunal’s decision was announced. An appeal could take several months, Churchill warned in a statement. The firm’s [...]
Begbies lowers its outlook March 10, 2011 British restructuring specialist Begbies Traynor said it lowered its expectations for full-year results due to a fall in demand for its tax planning services, sending its shares down eight per cent. The company also said restructuring of its insolvency, tax and support areas was expected to cost about £3m for the year ending 30 April. [...]
