From stamp duty to the triple lock, Andy Haldane says bold Burnham leadership can usher ‘vibe change’ for UK economy
Dubai set for crunch talks March 24, 2010 Bankers yesterday gathered in Dubai to hammer out a $26bn debt plan with state-owned Dubai World as a repayment deadline loomed, adding to pressure on the glitzy emirate to settle the conglomerate’s debt. Core creditors representing 97 banks met to finalise months of talks on how Dubai World can restructure the debt, about a quarter [...]
Icap is in good shape, says Spencer March 24, 2010 ICAP, the world’s biggest interdealer broker, yesterday said it had maintained or slightly improved second-half profit margins and said it expected pretax profit roughly in line with forecasts. The company said profit for the year to the end of March would be between £295m and £315m before tax, amortisation and impairment of intangibles arising on [...]
Man Group rises despite profits slide March 24, 2010 Man Group yesterday posted lower profits and a further fall in assets, bucking the trend in a recovering hedge fund industry as clients continued to withdraw cash following poor returns from its flagship AHL fund. The world’s largest listed hedge fund firm said assets – on which investment firms earn fees – were $39.1bn, down [...]
BA strips perks away from striking crew March 24, 2010 BRITISH Airways (BA) has withdrawn travel perks for cabin crew walking the picket line, the airline confirmed. Staff taking part in the work stoppage this coming weekend and last weekend have been told they will loose their access to heavily discounted travel as a result of walking off the job. A spokesperson from the airline [...]
Tube staff threaten strike March 24, 2010 LONDON Underground has been given until the end of today to withdraw plans to axe 800 jobs or workers will walk out of the job. The Rail, Maritime and Transport (RMT) union, which is representing workers facing job cuts said it will call a ballot for strike if management doesn’t comply. “We have already warned [...]
Resolution says deals will come after cash injection March 24, 2010 INSURANCE acquisition vehicle Resolution insisted its takeover strategy was on track as it announced a £180m boost to its war chest. Clive Cowdery’s firm yesterday used its first set of results since absorbing Friends Provident to allay investors’ impatience for another deal, which has caused its share price to slide since November. Describing Resolution’s demotion [...]
ANALYST VIEWS:?HOW WELL IS RESOLUTION PLACED TO PICK UP MORE INSURANCE ASSETS? March 24, 2010 TOBY LANGLEY | SANFORD C BERNSTEIN The only reason Resolution exists is to do deals in the?UK life sector. The UK life market is unattractive because it is unprofitable and struggles to grow – a number of players appear to ignore this dynamic. Resolution feels this creates an opportunity to generate value by consolidating businesses. [...]
Sainsbury’s sales hit by slowing growth March 24, 2010 SAINSBURY’S has reported its smallest rise in underlying quarterly sales in almost five years. Britain’s third biggest grocery chain said stores open at least one year rose 1.7 per cent, excluding fuel, in the fourth quarter. That was down from 3.7 per cent in its third quarter and the smallest rise since the first quarter [...]
Starbucks set to pay its first dividend as its overhaul succeeds March 24, 2010 STARBUCKS announced its first dividend yesterday joining companies like McDonald’s and Coca-Cola in making payouts to shareholders. Starbucks set a quarterly dividend of 10 cents per share to be paid on 23 April to shareholders at the close of business on 7 April. The payout is part of a new plan to return 35 to [...]
SABMiller nets World Cup Castle beer contract March 24, 2010 BREWER SABMiller will provide beer at fan parks during the 2010 World Cup, after reaching an agreement with the organisers of the tournament in South Africa. The decision will enable SABMiller’s South Africa unit to sell between 8-10m beers. SABMiller’s spokesman Nigel Fairbrass said: “We will be supplying Castle Lager and Castle Lite in the [...]
