Stock Exchange exec: Finance and football don’t always mix October 24, 2012 AS a follower of Preston North End since childhood, Alastair Walmsley, the London Stock Exchange’s newish head of primary markets, could be forgiven for not being too displeased that Manchester United chose the New York Stock Exchange rather than his employer’s very own stock market on which to float its shares. In his LSE role [...]
Rathbone fund inflows slow as assets increase October 24, 2012 RATHBONE Brothers, the wealth management house, yesterday reported a 9.5 per cent increase in assets under management despite a slowdown in money being allocated to it by customers. The Curzon Street-based firm, which traces its roots back more than 270 years, increased its asset base to £17.4bn but saw slower inflows in both its investment [...]
Supreme Court ruling on equal pay paves way for more claims October 24, 2012 A LANDMARK legal ruling on equal pay claims handed down by the Supreme Court yesterday could open the door for female workers in the City to make compensation claims against former employers. The Court, the most senior in the land, yesterday ruled scores of women previously employed by Birmingham City Council could seek compensation through [...]
Summer of love for Symphony sends portfolio values soaring October 24, 2012 INVESTMENT firm Symphony International, which owns firms that sell lifestyle goods to people in Asia, yesterday reported a jump in fund value on the back of a stellar summer for its business investments. The London listed company, which backs a host of companies owning beach resorts, fast food restaurants and television stations, said the net [...]
Student housing attracts £2bn worth of investment says CBRE October 24, 2012 INVESTMENT in student accommodation in the UK has soared to a record £2bn since the start of the year, despite the sector seeing a decline in student numbers following the hike in tuition fees. New research from property consultants CBRE published yesterday showed that investment into student accommodation jumped 145 per cent in the first [...]
IMA criticises FSA compensation October 24, 2012 Fund manager lobby group the Investment Management Association (IMA) yesterday slammed the Financial Services Authority financial services compensation scheme as “wholly unacceptable”. The group said the funding model for the scheme absolves banks and insurance providers from contributing to the scheme. The IMA said its own plan would provide greater clarity on levies.
Hargreaves boss gets £1.2m bonus October 24, 2012 Hargreaves Lansdown chief executive Ian Gorham upped his total remuneration package by 34 per cent last year after an “excellent” year of performance for the firm. Gorham added a £1.22m bonus to take his total pay to £1.64m, up from the £1m paid out in 2011. The firm’s co-founder, Peter Hargreaves, received a salary of [...]
RBS pays $42m fine in Nevada October 24, 2012 RBS yesterday agreed to pay $42m (£26m) to the state of Nevada to settle an investigation into deceptive sales practices involving subprime mortgages. Nevada’s attorney general said that a US unit of the Scottish bank purchased loans made by Countrywide Financial and Option One Mortgage that many borrowers could not afford. RBS securitised the loans [...]
Reckitt profits from emerging markets boost October 24, 2012 SHARES in Reckitt Benckiser climbed higher yesterday after the maker of Finish dishwasher tablets and Nurofen painkillers said strong emerging markets growth helped push third quarter like-for-like sales up by five per cent. Chief executive Rakesh Kapoor said the group had seen an “excellent” performance from emerging markets, and an improved performance in Europe and [...]
Cameron seeks action on firms that avoid UK corporation tax October 24, 2012 DAVID Cameron yesterday told the House of Commons that he was “not happy” with the level of corporate tax avoidance in the UK and urged HMRC to re-examine the current situation. His comments follow a spate of reports that high-profile firms – such as eBay, Facebook and Google – pay little UK corporation tax. “This [...]
