Babcock mulls US defence sale July 7, 2011 British defence services group Babcock International said it had traded well in its first-quarter, helped by continued outsourcing activity from military customers eager to cut costs, and said it was considering selling some of its US defence operations. Babcock, which maintains Royal Navy submarines, on Thursday said its markets had remained robust in the last [...]
Hays bosted by overseas jobs market as UK slumps July 7, 2011 Recruitment firm Hays reported group net fee growth of 11 per cent in the quarter thanks to its international business. Overseas fees accounted for 67 per cent of the total in the three months to the end of June. Fees across Asia rose 30 per cent compared with the same period last year. But net [...]
WH Smith sales drop but profit holds up July 7, 2011 WH Smith said it was confident about the outcome for the full year as higher profit margins offset lower sales in a tough market. The group, which trades from over 570 high street stores and more than 500 outlets at airports, train stations, hospitals and motorway service stations, said sales at stores open over a [...]
Man Group sees record sales July 7, 2011 Man Group saw a stronger than expected influx of client cash in the three months to 30 June, as a recent bumper fundraising in Japan helped the world’s biggest listed hedge fund manager recover from the credit crisis. Man, the world’s largest hedge fund manager only began winning back investors earlier this year after two [...]
EU guilty of credit rating hypocrisy July 7, 2011 SOME people simply can’t win. The largest credit rating agencies – Moody’s, Standard & Poor’s and Fitch – were rightly pilloried for providing ridiculously optimistic advice in the run-up to the financial crisis, deeming bundles of sub-prime mortgages to be as safe as the debt of very cautious and successful companies or governments. It was [...]
NEWS CORP FEARS DELAY TO SKY BID July 6, 2011 NEWS Corp bosses yesterday feared they may be forced to delay the firm’s multi billion pound bid for BSkyB, as the toxic political and commercial fallout of the phone hacking scandal continued to gather pace. Bankers close to the deal told City A.M. that negotiations have ground to a halt while both sides consider the [...]
Chancellor on hacking target list July 6, 2011 CHANCELLOR George Osborne yesterday joined the unenviable roll-call of people targeted by News of the World phone hackers. Police visited Osborne last night to tell him that his personal details appeared on notes kept by convicted criminal Glenn Mulcaire and shamed former News of the World royal editor Clive Goodman. It is not clear if [...]
US to seize pay at failed banks July 6, 2011 BANK executives whose behaviour is deemed “negligent” by US authorities could have up to two years’ worth of pay confiscated by the state under proposals voted into the American rulebook yesterday. In the last meeting under its current chief Sheila Bair, the Federal Deposit Insurance Corp (FDIC) voted five to one in favour of a [...]
EU guilty of credit rating hypocrisy July 6, 2011 SOME people simply can’t win. The largest credit rating agencies – Moody’s, Standard & Poor’s and Fitch – were rightly pilloried for providing ridiculously optimistic advice in the run-up to the financial crisis, deeming bundles of sub-prime mortgages to be as safe as the debt of very cautious and successful companies or governments. It was [...]
Lagarde takes swipe at DSK July 6, 2011 CHRISTINE Lagarde began her tenure as IMF chief with a swipe at her predecessor, saying her leadership will be “more inclusive”. She used her first speech as new IMF chief to say she will push ahead with reforms to give fast-growing emerging markets more influence at the global lender. The former French finance minister said: [...]
