Do you use your mobile phone to make online payments? September 25, 2012 EMMANUEL KUYI | SNL PROPERTIES Yes I do, as it allows me to buy online whenever and wherever I want. I also know that if I ever have a problem with a purchase it is easy to contact someone on the same device and ask for help. JAKE CONSTABLE | TOYOTA TSUSHO METALS I have [...]
Watchdog says no signs yet of audit collusion September 24, 2012 THE COMPETITION Commission said its probe of the country’s market for company audits had not uncovered any evidence so far of collusion among the Big Four accounting firms over market share. Yesterday’s paper is the watchdog’s first comments of substance since it formally launched its investigation last year, with preliminary findings due in November. The [...]
HSBC increases lending despite rejecting government support September 24, 2012 HSBC raised lending to small firms over the last nine months, and yesterday announced another round of targets on SME credit, arguing that it can do its bit to help the economy without needing support from the government. Rival banks including Barclays, RBS and Lloyds have all cut interest rates to businesses and households in [...]
Insurers count the cost of an early end to summer weather September 24, 2012 BRITISH insurers yesterday warned the public to take precautions against flooding as torrential rain threatened to result in hefty payouts. The summer was marred by wet weather and 2012 is on track to leave insurers with the largest bill for flood damage since 2007. Sixty-five areas of England are currently on flood alert and the [...]
Aberdeen gets a lift from high margin equities September 24, 2012 ABERDEEN Asset Management yesterday reported a £2bn summer inflow into its high margin equity business but failed to prevent a £100m slide in net new business. The £2bn of new flows into equities during July and August was offset by declines in its fixed income portfolios and Aberdeen Solutions offering, which had a collective outflow [...]
How did Aberdeen’s asset flow look in this update? September 24, 2012 DANIEL GARROD | BARCLAYS CAPITAL Equities inflows surprise on the upside at £2bn for July/August with encouragingly good diversification away from just GEM. However, the share has been a very strong performer so we could see a little bit of profit taking. HALEY TAM | CITI Strong high margin flows into Asia Pacific, Global EM [...]
Moody’s praises regulation advice September 24, 2012 ■ Stricter liquidity and capital rules will help keep banks safe and stable in the future, credit ratings agency Moody’s said yesterday. But it also warned that only effective supervision will make the rules work to their full potential. The Basel committee’s core principles were adjusted earlier this month, increasing the number of principles from [...]
Caterpillar cuts profit forecast September 24, 2012 ■ Caterpillar, the world’s largest maker of earth-moving equipment, last night cut its 2015 earnings forecast, citing weak economic conditions around the world. The revised forecast comes as prices for coal and iron ore have dropped sharply this year, causing many of Caterpillar’s customers in the mining sector to rethink capital expenditures.
Total looks to Africa for boost September 24, 2012 ■ French oil major Total has said a string of projects in Africa will fuel a 25 per cent rise in output over the next five years. At its annual investor day in London, Total also announced it had joined the race to exploit the potentially huge resources offshore Mozambique in east Africa. The firm [...]
Canaccord Financial boosts UK wealth business with Eden buy September 24, 2012 CANACCORD Financial, the owner of corporate broker Canaccord Genuity, yesterday announced it had snapped up UK boutique wealth manager Eden Financial in a £12.8m cash deal. The firm will add Eden, which has £835m of assets under management, to its existing UK wealth management platform Collins Stewart Wealth Management, boosting the platform’s assets to £9bn. [...]
