Cayzer-backed Caledonia ups dividend despite asset falls May 28, 2009 CALEDONIA Investments, the fund backed by the millionaire Cayzer family, has boosted its annual dividend despite reporting a fall in the value of its assets by almost a third. Group chairman James Loudon said a 27.7 per cent decrease in diluted net asset value per share over the full year to the end of March [...]
Vertu in 30m share placing May 28, 2009 VERTU, the car retailer, announced yesterday it would raise £30m through a share placing, as it sought to raise its number of dealerships from 45 to over 60. It added that its sales at the company were beating market averages, as it posted pre-tax profit of £70,000 for the year to end-February. Last year, 14 [...]
Airbus boss quizzed over shares May 28, 2009 Airbus chief executive Tom Enders has been interviewed by French police as part of an investigation into allegations of insider trading at parent company EADS, the planemaker said yesterday. “We confirm that he was held but he was not placed in detention, nor placed under investigation,” it said. Enders, who has denied wrongdoing, is among [...]
Retail sales fall in May as pain worsens May 28, 2009 SHOPPERS are belt-tightening again, according to data released yesterday which shows that high street sales fell by more than expected in May. New figures from employers’ organisation the CBI showed that some 17 per cent more retailers reported a fall, rather than a rise, in sales during May. The data suggests that April’s rise, which [...]
Booker raises profits while PwC decides fate of stake May 28, 2009 CASH-and-carry company Booker Group said yesterday its full-year pre-tax profits soared by 30 per cent, and that it expects to know the future of bankrupt bank Kaupthing’s stake in its business within days. The 22 per cent stake was previously held by Kaupthing Capital Partners but, following an Isle of Man court hearing on Wednesday, [...]
Brewin still upbeat after profit dive May 28, 2009 STOCKBROKER and investment manager Brewin Dolphin yesterday struck a positive chord for the sector as it declared markets were over the worst of the economic turbulence, despite posting a 38 per cent fall in interim pre-tax profits. Brewin Dolphin said pre-tax profit for the six months to the end of March fell to £13.6m after [...]
US data shows ease in slump May 28, 2009 New orders for long-lasting US manufactured goods saw their biggest gain in 16 months in April and fewer workers filed for new jobless benefits last week, according to official data yesterday that suggested the deep recession was abating. The Commerce Department said new orders for durable goods rose 1.9 per cent, the biggest percentage advance [...]
May Gurney extends contract May 28, 2009 Construction group May Gurney Integrated Services said its long-term contract for Network Rail has been extended for two years and is expected to result in about £20m to £25m of work annually. The current long-term contract, which covers the London and North East regions and expires on 31 March 2010, has been extended to 31 [...]
German regulator admits flaws May 28, 2009 Germany’s financial markets regulator BaFin has admitted that it did not do enough to identify the problems in banks that led to the financial crisis. BaFin president Jochen Sanio said: “We as controllers did not see how much trash had built up at banks around the globe.” But he added that BaFin had not possessed [...]
Spottiswoode replies to angry adviser May 28, 2009 CLAIRE Spottiswoode, responsible for representing the interests of with-profits policyholders at Aviva, has issued a letter in response to one published in City A.M. questioning the insurer’s treatment of its investors. The Policyholder Advocate, formerly head of Ofgas, has defended a deal she struck over the group’s reattribution of a £1.4bn inherited estate controlled by [...]
