SSE suffers as demand drops despite cold February 3, 2010 Scottish and Southern Energy (SSE) yesterday revealed it has signed up 200,000 customer accounts in the nine months to 31 December, taking the total to 9.25m across the UK. However SSE, the second largest electricity generator in the UK and Ireland, also reported reductions in household consumption of gas and electricity in the four months [...]
CITY VIEWS: HOW BADLY DO YOU THINK TOYOTA’S REPUTATION HAS BEEN DAMAGED? February 3, 2010 JEREMY PHILLIPS | J4B “I don’t have one at the moment, but this news wouldn’t affect whether I’d buy a Toyota. It shows me that they care about their customers. They may not have done it last year, but this shows that they’ve learned from their mistakes.” NICOLE WILEMAN | STANDARD BANK “I don’t have [...]
Metals trader Ambrian launches buyout division February 3, 2010 PRECIOUS metals specialist Ambrian Capital has launched a private equity business focusing on natural resources, spearheaded by three former Glencore executives. Ambrian Natural Resources will be led by partners Nicolas Rouveyre, Jean-Pierre Conrad and Kilian Carrarini, and will look to buy and sell businesses in the base and precious metals space. The firm will operate [...]
BT pension firm Hermes sets up a credit boutique February 3, 2010 HERMES, the fund firm owned by the BT pension fund, has set up a new credit boutique with a £400m investment from its parent as it seeks to drive third-party business. The launch is part of a wider effort to grow Hermes’ third-party business, which chief investment officer Saker Nusseibeh, said would aim to bring [...]
FT buys hedgie analysis firm February 3, 2010 THE Financial Times yesterday took another step away from its reliance on advertising, as it snapped up Medley Global Advisors. The provider of macroeconomic intelligence to hedge funds and banks will become part of the FT’s paid for subscription service. The FT is stepping up its investments in premium services to reduce its reliance on [...]
Orange merger faces delay February 3, 2010 THE Office of Fair Trading (OFT) said yesterday it will probe the proposed merger between Orange and T-Mobile, which could delay the deal by months. Orange had hoped to tie up the deal to become the UK’s biggest carrier by the start of the summer. But the OFT’s announcement that it will look into the [...]
Walker Greenbank slashes debt pile on renewed appetite for luxury furnishings February 3, 2010 WALKER Greenbank, the luxury interior furnishings group, yesterday said it had slashed its debt pile after trading strongly over the latter part of the year despite the ongoing tough climate for the upmarket retail sector. The group, which owns premium fabric and wallpaper brands Zoffany, Harlequin and Sanderson, said it expects to have reduced net [...]
TimeLine | The proposed UK orange and T-mobile merger February 3, 2010 September 2010 Likely date of actual merger. June 2010 The two companies hoped to conclude a tie-up. 1 March 2010 Revised European Commission review deadline. 15 February 2010 Original European Commission review deadline. 3 February 2010 OFT requests UK review of merger. 14 January 2010 OFT commenced consultation on whether to review the UK aspects [...]
Fears over bad loans hit Spanish banking stocks February 3, 2010 FEARS over Spain’s banking system rose yesterday, with growing fears about the extent of the banks’ bad loan portfolios. Analysts at JP Morgan, Ignacio Cerezo and Andrea Unzueta, warned in a research note there could be some nasty surprises to come. Commenting on BBVA, which reported a 94 per cent decline in earnings last week, JP Morgan’s [...]
Carpetright sales slow on snow chaos February 3, 2010 Carpetright, Britain’s biggest floor coverings retailer, saw sales growth slow in the three months to January, missing forecasts as trade in the early part of 2010 was hit by heavy snow and sub-zero temperatures. The firm’s stock fell three per cent to 943p, making it the top midcap loser, though chairman and chief executive Lord [...]
