Gartmore investment trust reviews manager November 9, 2010 BOARD members at Gartmore’s European investment trust yesterday said they would review the group’s role as manager of its portfolio, acknowledging the risks posed to the business by the departure of star fund manager Roger Guy earlier this week. “The board is mindful of the impact that these developments may have in relation to the [...]
FTSE lifted by healthy earnings November 9, 2010 BRITAIN’S leading shares closed higher yesterday, boosted by results from Barclays, Schroders and Associated British Foods. The FTSE 100 closed up 25.23 points, or 0.4 per cent, at 5,875.19, after closing down 0.4 per cent on Monday. The index is up 8.5 per cent this year and has jumped around 23 per cent since hitting [...]
Citigroup CDO cases to go ahead November 9, 2010 A US judge yesterday dismissed part of a Citigroup shareholder lawsuit alleging securities fraud, but allowed the investors to pursue some of their claims against the bank. Citigroup shareholders claim that the bank knowingly misled them about the value of various securities it sold and the risk related to those securities. US Judge Sidney Stein [...]
Mexican group to buy Sara Lee November 9, 2010 Sara Lee will sell its North American bakery business to Mexico’s Grupo Bimbo for $925m (,£579m), the latest move to shrink a once-sprawling company that sold everything from hot dogs to underwear.
Stocks fall as metals lose shine November 9, 2010 WALLStreet fell for a second day yesterday as selling accelerated into the close, led by sharp losses in bank and metal stocks. Metals stocks gave up earlier gains after the price of gold and silver fell sharply late in the day and the dollar strengthened. Financial stocks took a hit as interest rates rose late [...]
General Electric healthcare up November 9, 2010 General Electric’s healthcare arm can grow operating profit at 10 per cent per year over the long term, its top executive said yesterday. The US conglomerate has also seen US demand for medical equipment and services pick up following the landmark US healthcare reform law.
Post Office to serve banks’ customers November 9, 2010 Royal Bank of Scotland (RBS) and NatWest customers will be able to access current and business accounts at Britain’s 12,000 post offices after the government ditched plans for a state-backed Post Office bank. The agreement means post offices will provide services for 80 per cent of current accounts in Britain, postal affairs minister Edward Davey [...]
Public sector increasingly nervous about jobs November 9, 2010 IN the run up to the Christmas season feelings of insecurity surrounding employment situations can become more acute. A monthly Household Economic Activity Tracker (HEAT) produced by YouGov SixthSense has found that a net percentage of employees were more fearful for their jobs in October (net -20 per cent) than they had been during September [...]
Ex-Sportingbet boss floats jet charter firm November 9, 2010 SPORTINGBET’S former chief executive Nigel Payne will this morning storm back into the market spotlight with the flotation of his new venture, private jet charter firm Hangar 8, on the Alternative Investment Market (Aim). Payne – who led Sportingbet from 2000 to 2006 and has since been a non-executive director – is non-executive chairman of [...]
Carlsberg hit by rising input costs in 2011 November 9, 2010 Carlsberg, the world’s fourth-largest brewer, yesterday reported a 26 per cent rise in third-quarter operating profit, but lost market share in Russia and warned of rising input costs in 2011. The maker of Carlsberg, San Miguel, and Kronenbourg raised its 2010 view on key market Russia, where it is market leader, to a mid-single digit [...]
