Barclays cuts down Protium by a third June 15, 2011 BARCLAYS has already sold off almost half of the assets that it previously tried to hive off in the Protium accounting trick that it reversed in April, BarCap co-head Jerry del Missier told investors yesterday. Protium, the name given to a $12bn (£7.4bn) pile of risky assets that Barclays converted into a loan in 2009 to [...]
ENRC to accelerate governance review June 15, 2011 ENRC will speed up its corporate governance review, City A.M. understands, after concerns over its structure continue to damage investor confidence. The Kazakh miner last week announced a three-month review of its corporate governance. But sources close to the company expect the results to be published sooner, after last week’s boardroom shake-up followed by a [...]
Landlords agree deal with Southern Cross June 15, 2011 STRUGGLING care homes manager Southern Cross has agreed a deal with landlords to give it more time to solve its financial problems. Southern Cross and its landlords sat down with the department of health and other stakeholders yesterday to thrash out a longer term agreement, following a short-term rent reprieve granted last month. The firm [...]
Liontrust posts a loss of £1.7m due to restructuring June 15, 2011 FUNDS management house Liontrust has posted a full year pre-tax loss of £1.7m, after restructuring costs dented the group’s profitability. The London-listed firm said it had paid out several million in related one-off costs, including severance compensation payments totaling £1.5m. Restructuring efforts also included the rebranding and refocusing of some of its funds and the [...]
AVIVA CONFIRMS MCFARLANE AS CHAIR June 15, 2011 INSURANCE group Aviva yesterday named former Australian bank chief John McFarlane as its next chairman, replacing Lord Colin Sharman who retires at the age of 70. Scottish-born McFarlane spent 20 years in senior City positions before moving to Australia to head up the Australia and New Zealand Banking Group (ANZ) for a decade until 2007.
O’Brien error lets in Dettori and Rewilding June 15, 2011 So You Think defeat down to me, says trainer Nine-day suspension sours Dettori’s victory FORMER Champion trainer Aidan O’Brien accepted the blame for So You Think’s shock defeat at Royal Ascot at the hands of Rewilding in the Prince of Wales’s Stakes. The multiple Group One winner was sent off as the 4-11 favourite and [...]
One of golf’s greatest tests to bring out the best in showman Poulter June 15, 2011 IF YOU were to rank the Majors in terms of importance and prestige then I’d have no problem putting the US Open in there just behind our Open as the second most significant event on the golfing calendar. A number of the world’s leading players have described this tournament as the ultimate test and from [...]
Chelsea fail with £22m bid for Spurs ace Modric June 15, 2011 CHELSEA have seen a £22m bid for Tottenham’s Croatia midfielder Luka Modric rebuffed by their north London rivals. After a trophyless season, owner Roman Abramovich is keen to rebuild his aging squad, whose midfield is lacking the creative qualities Modric would supply in abundance. Chelsea, who are still to appoint a successor to their former Double [...]
McIlroy sees an opening with Woods out of action June 15, 2011 NORTHERN IRELAND’S Rory McIlroy is saddened by Tiger Woods’ absence from the US Open which starts today but knows that with the former world No1 out of action his chances of a first Major win are greatly enhanced. Woods, out with knee and Achilles injuries, has failed to make it back to the Congressional course [...]
Fabregas won’t ask for Barca transfer June 15, 2011 ARSENAL captain Cesc Fabregas appeared to offer the club’s fans hope he might resist the overtures of Barcelona again this summer by claiming he “owes himself” to the Gunners. The reigning Spanish and European champions have failed to force Arsenal’s hand in each of the previous two summer transfer windows and are thought to be [...]
