European Tour record for Jimenez November 18, 2012 Spain’s Miguel Angel Jimenez yesterday became the oldest winner of a European Tour event by taking the Hong Kong Open title. Jimenez, who pipped Sweden’s Fredrik Andersson by one stroke to finish 15 under par, was 48 years and 318 days old as he lifted the trophy.
Twinkie-maker Hostess Brands to liquidate November 16, 2012 Hostess Brands, which makes Twinkies, has decided to close the company after failing to get wage cuts from striking workers. Hostess has been forced to liquidate after striking members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union refused to return to work after a set deadline on the 14 November. Members of [...]
Melrose slumps as it warns on outlook November 16, 2012 Buyout group Melrose today warned of a slowdown in its businesses, which sent its shares tumbling. The FTSE 100 firm – which caters to the energy, oil and gas, mining and manufacturing industries – said that the sales outlook for next year had become more “uncertain”. Melrose said that over the past few weeks, it [...]
Revenue up at Paddy Power as it ramps up expansion November 16, 2012 Irish bookmaker Paddy Power today announced revenue growth of 23 per cent over the period from July, as it said it would open 45 new sites in the UK this year. In an interim management statement this morning, the company said its UK high street shops reported net revenue up five per cent on a [...]
BAE senior independent director to stand down November 16, 2012 BAE Systems this morning said senior independent director sir Peter Mason will retire in May, less than a month after shareholder Invesco called for him to step down. Mason’s term of appointment was due to end of 21 January, and he will retire at BAE’s AGM next May. Nick Rose has been named as his [...]
FTSE 100 down on global growth concerns November 16, 2012 The blue chip index edged down in early deals as investors fretted over US fiscal cliff concerns and Eurozone growth. Buyout group Melrose was the biggest faller on the leading share index, shedding 13.69 per cent as it said it was facing slowing revenue trends. Utility firm Pennon firm 2.55 per cent, while steelmaker Evraz [...]
Anglo American and Lafarge sell building assets to Mittal November 16, 2012 Miner Anglo American and cement maker Lafarge said this morning they would sell their UK construction operations to Mittal Investments for £285m. The divestments include a number of cement operations in the UK, plus the sale of Anglo American unit Tarmac’s 50 per cent ownership interest in Midland Quarry Products Limited. The sale includes up [...]
Profit edges up at LSE November 16, 2012 Operating profit was flat at £217.2m for the London Stock Exchange Group over the six months to September, up modestly on the previous year. The group reported a seven per cent jump in revenue to £349.8m, as it hailed a “strong” financial performance in challenging markets over the period. The LSE said that a 19 [...]
St Paul’s full of Opportunity at appeal launch November 15, 2012 THE CITY descended upon St Paul’s on Wednesday night to launch City A.M.’s Christmas appeal for Opportunity International, including a fabulous auction in aid of the appeal that – along with private donations – raised £211,818 on the night. Stagecoach co-founder Ann Gloag and Pi Capital boss David Giampaolo were among guests treated to a [...]
Forex names foxy winner November 15, 2012 YET more awards on Wednesday night, this time dished out at the Grange hotel by St Paul’s as part of the Forex Summit. Jannick Malling, founder of online trading platform Tradable, brought home the bacon with the Most Innovative Financial Company. When asked about a comparison made between him and Steve Jobs, Malling bashfully replied: [...]
