CITY VIEWS: WILL DAVID CAMERON’S VISIT TO CHINA GENERATE MORE TRADE FOR THE UK? November 9, 2010 SASCHA KLAMP | SITE INVESTMENTS “It’s a good thing. The more the better. China is one of the highest-growth countries. I’m not sure what deals he’s trying to strike but if it’s in areas like clean technology and green energy that’s a good thing.” STEVE ATKINSON | AUKETT FITZROY ROBINSON “Cameron’s visit to China will [...]
Rolls-Royce wins $1.2bn China order November 9, 2010 PRIME Minister David Cameron’s efforts to double trade with China by 2015 received a boost yesterday, as aero-engine maker Rolls-Royce won a $1.2bn (£747.4m) order from China Eastern Airlines. Cameron, making his first visit to the Asian powerhouse since taking office in May, has targeted annual trade of more than $100bn with the world’s second-largest [...]
Trade envoys named as Cable signs pigs deal November 9, 2010 DAVID Cameron has named a raft of new business ambassadors to be responsible for promoting British trade interests abroad. The positions are not paid but give the envoys the chance to strike profitable deals for the UK abroad. The ambassadors include the CBI’s outgoing chief Richard Lambert, fomer governor of Hong Kong Chris Patten, Brunswick’s [...]
Fair weather for Munich Re as profits rise November 9, 2010 A RELATIVELY calm hurricane season in America has helped to push up profits at Munich Re, despite massive payouts for the Chilean earthquake and the Deepwater Horizon disaster. The insurer said that its net profits for the first three quarters of 2010 were 19 per cent higher than for the same period last year at [...]
New boss for directories firm Yell as faltering sales hit stock November 9, 2010 YELLOW-pages publisher Yell yesterday named ex-Cisco manager Michael Pocock as its new chief executive and reported an accelerated slide in quarterly sales, sending its shares down 20 per cent. Yell, whose CEO and last chief financial officer both announced their departure in May, said its customer base of small businesses had not yet regained economic [...]
JP Morgan faces lawsuits over mortgage foreclosure November 9, 2010 JPMORGAN Chase faces two possible class action lawsuits, including fraud, related to its decision to halt foreclosures, the US bank said in a regulatory filing yesterday. The suits allege “common law fraud and misrepresentation, as well as violations of state consumer fraud statutes,” JPMorgan said, adding to the chorus of major banks facing legal action [...]
Aldermore gets City veteran as new chairman November 9, 2010 ALDERMORE, one of the new banks to spring up in the UK in the wake of the credit crisis, has scored a coup with the appointment of City veteran Sir David Arculus as its new chairman. Arculus currently chairs investment banking firm Numis and is a non-executive director at Telefonica, Excel and Pearson. His sparkling [...]
Private pensions back in the black November 9, 2010 PRIVATE pension schemes in the UK have motored back into surplus, driven upwards by healthy stock markets. say the new monthly figures out from the Pension Protection Fund (PPF), the body that insures pension schemes. The aggregate balance of the 6,653 schemes in the pension protection fund’s PPF 7800 index is estimated to have improved [...]
Schroders boosted by inflows November 9, 2010 SCHRODERS share price hit a 12-year high yesterday afternoon after it announced a pre-tax profit of £282.7m for the first nine months of 2010, compared with £79.9m for the same period in the previous year. The pre-tax profit has more than doubled to £94.5m for the quarter, up from the figure of £43.6m in the [...]
Hedge funds forced to drop their fees in wake of meltdown November 9, 2010 INVESTORS are enjoying more negotiating power than ever before when it comes to investing in hedge funds, putting increasing pressure on managers to lower fees and offer greater liquidity in the wake of the credit crisis, a new survey has shown. Over half of the investors polled for an Ernst & Young report on the [...]
