Direct Line’s success is just what the bankers ordered October 11, 2012 D IRECT Line was always going to be a major test for the London listings market. Finally, it has got away, so there will be relief all around about that, even though the insurance group will not jump straight into the prestigious FTSE 100 as many at the outset had hoped for. There was a [...]
Financial feast at the Mansion House October 11, 2012 TO Mansion House last night, the palatial pad of the Lord Mayor of the City of London, where the crème de la crème of Britain’s financial services sector raised a glass in toast to the industry. This year was the fourth and final time Lord Turner, chairman of the Financial Services Authority, addressed fellow diners. [...]
Property pirates go hunting for buried treasure in Broadgate October 11, 2012 YESTERDAY lunchtime 36 property firms across the City rallied the troops to brave the gloomy weather and don costumes, all in the name of organised charity fun. 180 people from the property industry dashed around the Square Mile, following clues and taking in some of the City’s famous landmarks, to raise money for LandAid. Peter [...]
Ashmore assets are boosted by fresh inflows October 11, 2012 ASHMORE Group said yesterday its assets under management rose 6.8 per cent in the three months to the end of September as rising markets and fresh inflows from Asian and Middle Eastern government-related investors boosted the emerging markets-focused manager. In a trading update released yesterday morning, Ashmore said the money it manages on behalf of [...]
Shell sued by African villagers over oil pollution in Niger Delta October 11, 2012 FOUR Nigerian villagers took Anglo-Dutch oil giant Shell to court yesterday, accusing the company of polluting waterways and land around their homes. The villagers, together with campaign group Friends of the Earth, launched their claim in a civil court in The Hague, where Shell has its joint global headquarters. They are suing for unspecified damages. [...]
BP is under fire in Azerbaijan over its production revenues October 11, 2012 AZERBAIJAN has accused BP of making “false promises” on oil output and said the state had missed out on $8bn of potential revenues from what is one of the company’s biggest projects in the world. President Ilham Aliyev said he would take “serious measures” – threatening a third battle front for BP as it seeks [...]
London Metal Exchange looks at extension to outcry trading October 11, 2012 THE LONDON Metal Exchange (LME) – which boasts one of the world’s few remaining open-outcry pits – is considering adding a third round of daily trading, according to reports yesterday. The additional early morning period would allow the exchange to target Asian markets and could require a physical expansion in the size of the trading ring, according [...]
Air Partners sees dive in profits as demand for private jets slows October 11, 2012 JET charter firm Air Partner yesterday reported falling revenues and profits in the year to the end of July due to “challenging trading conditions and a tough comparable period”. Total revenues fell by almost 20 per cent to £227.6m, and pre-tax profits dropped from £5.3m to £4.1m. Air Partner said a flurry of business in [...]
British insurers want regulators to concentrate less on banking October 11, 2012 BRITISH insurers yesterday called on regulators to appoint more senior figures with industry expertise, in an attempt to correct a perceived obsession with the banking sector. The pressure comes as the Financial Services Authority (FSA) prepares to split into two new bodies: the Financial Conduct Authority and the Prudential Regulation Authority. “It is absolutely vital the [new [...]
Kenmare hit by weak markets October 11, 2012 FTSE 250-listed mining and exploration company Kenmare Resources said yesterday its outlook had been affected by softer markets, although it was confident of a pick-up. In an interim management statement, it said output from mining operations improved in the third quarter, with 229,100 tonnes of heavy concentrate produced, a 16 per cent increase from the [...]
