Numis relieved by Rock Well result July 6, 2011 INDEPENDENT bank and broker Numis Securities yesterday settled a long-running legal case relating to a private share placing it led in 2007. Numis said it had paid out £5m without admitting liability in relation to a decision made by its client Rock Well Petroleum not to refer in placing documents to a law suit that [...]
Asian growth helps Robert Walters gain July 6, 2011 BUSINESS recruitment group Robert Walters said yesterday it had seen solid growth in the second quarter, and announced plans for further expansion into fast-growing markets across Asia. Overall net fee income at the group rose 23 per cent year on year, with 28 per cent growth in Asia in the three months to 30 June. [...]
Allen & Overy posts rises in its profits and revenues July 6, 2011 ALLEN & Overy was the latest magic circle law firm to release its financial results yesterday, posting a seven per cent rise in revenues alongside a six per cent hike in profits. Turnover at the firm, which has 487 equity partners across 37 offices, rose to £1.12bn in the year to 30 April, climbing from £1.05bn [...]
Latest WPP buy sees group snap up India ad firm July 6, 2011 ADVERTISING giant WPP yesterday announced the latest in a string of acquisitions, spending some of its £200m war chest on a majority stake in Indian agency Mindset Advertising. Mindset’s client roster includes Pepsi, Airtel and ADP, and the company posted revenues of £719,000 for last year, with assets of £606,319. The acquisition means that WPP [...]
UK operations feel the drain July 6, 2011 NET fee income growth of 21 per cent may be good for Robert Walters’ bottom line, but what it reveals about the UK is much more worrying. For months commentators have been talking about a flight of talent from London heading eastwards, and income growth of 28 per cent for Robert Walters in Asia compared [...]
Axis-Shield rebuffs bid from US rival July 6, 2011 SHARES in Axis-Shield jumped to a 10-year high yesterday after the company rebuffed a £230m bid from its bigger US rival Alere. The Dundee-based firm, which makes medical diagnostics kit, said that its board had unanimously rejected the proposal because it “fundamentally undervalued the company and its future prospects”. The response came after Alere made [...]
Booker rises above retail gloom with jump in sales July 6, 2011 BRITAIN’S biggest cash and carry wholesaler has defied the retail sector gloom with a sales lift. Booker, which runs more than 170 branches in the UK, saw like-for-like sales rise by 7.4 per cent in the 12 weeks to 17 June. Non-tobacco sales were up 5.7 per cent and tobacco sales up 10.1 per cent, [...]
Sports Direct buys stake in high-end fashion firms July 6, 2011 SPORTS Direct has bought an 80 per cent share in the USC and Cruise chains, to give it a foothold in the luxury clothing market. The designer fashion chains are currently controlled by Scottish tycoon Sir Tom Hunter through his West Coast Capital private equity firm. Sports Direct paid £7m under the deal, which was [...]
CAA probes Heathrow’s charge rise July 6, 2011 BRITAIN’S airport regulator has launched a full investigation into whether Heathrow’s passenger charges have unfairly impacted short-haul carriers, following a complaint by airline British Midland International. The Civil Aviation Authority said yesterday that it would open an extended inquiry into Heathrow’s decision last year to raise the rate for each domestic passenger flying out of [...]
AirAsia plans boost to Airbus plane deal July 6, 2011 AIRASIA is understood to be close to buying an extra 100 A320neo jets from Airbus, in a deal that would make the budget airline one of the world’s largest carriers. Last month the Malaysian airline’s owner, Tony Fernandes, stormed into the Paris Air show ordering a record-breaking 200 revamped A320 planes for £10.5bn – the [...]
