Profits flat at Tenon after acquisition March 24, 2010 ENTREPRENEURIAL business advisory firm RSM Tenon yesterday said profits remained broadly flat over the first half of its financial year after the group completed its largest-ever acquisition, adding that it plans to move to London’s official list before mid-2010. Tenon said adjusted pre-tax profit came in at £5.9m for the six months to December, up [...]
CITY MOVES | WHO’S SWITCHING JOBS March 24, 2010 VANGUARD INVESTMENTS The investment group has appointed David Plumstead to lead its institutional and corporate sales team in the UK. Plumstead initially joined Vanguard in July last year as business development manager, responsible for managing relationships across UK platforms. He has over 25 years of industry experience and previously worked for both Clerical Medical and [...]
Stobart joins forces in biomass venture March 24, 2010 BRITISH logistics company Stobart Group yesterday announced a venture into the UK renewable energy market with a deal to source and supply biomass fuel. Stobart said it has set up a joint venture with wood-related biomass supplier A.W. Jenkinson to supply biomass fuel, with a linked transportation contract for Eddie Stobart, whose lorries are a [...]
BEST OF THE BROKERS March 24, 2010 ALLIANCE PHARMA Numis Securities rates Alliance Pharma “buy” citing its 44 per cent sales growth and a 200 per cent rise in earnings per share. Says the outlook is strong for 2010. CABLE & WIRELESS Collins Stewart is positive on Cable & Wireless saying the prospects for both growth and high dividend yield from the 26 [...]
Darling: Lend or we will cut bank bonuses March 24, 2010 THE government is threatening to slash bonuses at state-owned Lloyds Banking Group and Royal Bank of Scotland (RBS) if they miss their target of lending £94bn this year. Government papers published alongside chancellor Alistair Darling’s Budget said UK Financial Investments, which controls the taxpayer’s stake in the banks, had the power to “work with the [...]
Green investment bank will invest in renewables March 24, 2010 AMONG the more eye-catching proposals in the Budget was the plan for a £2bn state-backed investment bank to develop infrastructure and renewable energy projects. Chancellor Alistair Darling confirmed the widely-trailed idea, which will be half-funded by the sale of the government’s interest in the Channel tunnel and in half with private cash. The bank will [...]
NEWSPAPER VETERAN APPROACHES GUARDIAN WITH A HEAVY HAND March 24, 2010 HEATED words in the media world yesterday after Carolyn McCall’s abrupt defection from the helm of Guardian Media Group to easyJet. Some say McCall won’t be too sorely missed by her former charges at the Guardian, given the messy state of the group’s finances and her recent controversial decision to sell the Manchester Evening News. [...]
The bankers who saw the crash coming, and bet on it March 24, 2010 THE BIG SHORT BY MICHAEL LEWIS Allen Lane, £25 by Zoe Strimpel THE Big Short comes late in the day, at least in terms of the publishing frenzy that (inevitably) followed the financial crisis. Indeed you might have an impulse to roll your eyes and say: “not again” – not another book whose theme is [...]
Big earners hit for six by the Budget March 24, 2010 Darling’s Budget offers few smiles for the wealthy. Personal allowances for people with incomes over £100,000 will be gradually eroded over the next three years. Anyone earning more than £150,000 a year will be hit with the new 50p rate of tax. It means the UK is now the second most expensive place for big [...]
Time Line | the shifting landscape of uk taxes March 24, 2010 9 November 2009 50 per cent bank bonus tax on anything over £25,000 introduced as government reacts to anger at financial institutions. 1 January 2010 Rate of VAT goes back up from 15 to 17.5 per cent as planned when the change was brought in at the height of the recession. 1 January 2010 Stamp [...]
