Slow progress at Enterprise Inns August 4, 2011 Average income at pubs group Enterprise Inns rose just one per cent from a year ago in the 18 weeks to April, it said yesterday. The company blamed the slow growth on a difficult comparative period last year, including the FIFA World Cup.
Investec bids for Evolution August 4, 2011 SOUTH African asset management group Investec confirmed it was the mystery bidder for City broker and wealth manager Evolution Group yesterday. Evolution sparked a flurry of speculation on Wednesday when it said it had received an early stage takeover approach, with banks such as Societe Generale and Royal Bank of Canada named as potential acquirers. [...]
MPs want answers from Morgan August 4, 2011 FORMER Daily Mirror editor Piers Morgan has “very serious questions” to answer about his newspaper’s role in the hacking scandal, according to media select committee chair John Whittingdale. However, the committee has no plans to call Morgan in for a grilling unless more evidence emerges. Heather Mills has alleged the Mirror hacked her phone. Meanwhile, News [...]
CITY VIEWS: DO YOU THINK PIERS MORGAN SHOULD COME BACK TO THE UK TO ANSWER QUESTIONS ABOUT THE PHONE HACKING SCANDAL? August 4, 2011 PAUL MEADOWS | CHADLEY HOUSE TRAINING “Yes, it is definitely worthwhile; although he doesn’t necessarily need to be questioned in the UK. He was in a position of authority at the time and needs to take responsibility for what happened on his watch.” GARY DUNION | SYSTEMS ACCOUNTANTS “No, I do not think that he [...]
Sale boosts AIG growth August 4, 2011 BAILED-OUT insurer American International Group reported a profit for the second quarter yesterday, as tax benefits and its one-third stake in Asian insurer AIA offset a decline in operating income at its main businesses. AIG reported a net profit of $1.84bn (£1.1bn), compared with a year-earlier loss of $2.66bn. The company’s chief executive also confirmed [...]
AXA earnings quadruple on gains from asset sales August 4, 2011 AXA, Europe’s second-biggest insurer, said yesterday that first-half net income quadrupled, beating forecasts, helped by €1.44bn in one-off gains related to asset sales. AXA said its net income for the six-month period rose to €3.999bn from €944m in a year-ago period that was depressed by a €1.478bn exceptional loss. The net result, boosted by gains [...]
Schroders gets £5.1bn new work August 4, 2011 Fund firm Schroders said clients representing a better-than-expected £5.1bn of net new business have backed the firm to help them ride out stormy investment markets. The blue chip asset manager reported a 15 per cent rise in profits yesterday. Its assets under management rose to a record £204.8bn in the first half of a year.
GM almost doubles its profits August 4, 2011 General Motors’ quarterly profit shot past Wall Street expectations yesterday, but its share price fell as investors looked to the risks of a choppy economy. For the second quarter, GM’s net income rose to $2.52bn from $1.33bn a year earlier. Revenue rose 19 per cent to $39.4bn, thanks in part to the Japan quake causing [...]
EU opens NYSE-Deutsche probe August 4, 2011 EU anti-trust regulators have opened an in-depth probe into the proposed $9bn (£5.5bn) merger of Deutsche Boerse and NYSE Euronext, citing concerns about competition in derivatives trading and clearing. Sources close to the deal expect it to be conditionally cleared after the investigation, with some interoperability conditions applied.
Catlin suffers widened losses August 4, 2011 Insurer Catlin Group reported a wider-than-expected loss for the first half, hurt by soaring claims after a spate of disasters, but said it was confident of the second half. January-June pre-tax loss was $201m, compared with a profit of $86m a year ago, though the firm raised its dividend by five per cent.
