IG cuts offset sales decline September 11, 2012 SPREAD-BETTING firm IG Group yesterday said that revenues had fallen 18 per cent to £81.5m in the three months to August with the market far less volatile than last year. Despite decreased sales, shares in IG rose more than five per cent yesterday as the firm said a round of cost cutting including lower staff bonuses [...]
Miller Group returns to profit as housing revenue edges up September 11, 2012 PROPERTY firm Miller Group returned to profit in the first half of the year, with group revenue up seven per cent. The privately-owned group, with operations in the housing, construction, development and mining sectors, said pre-tax profit increased to £0.4m to 30 June, up from a loss of £52.9m over the same period last year. [...]
Betfair finance chief resigns as Games hit sales September 11, 2012 ONLINE bookie Betfair yesterday announced its chief financial officer had quit the company, as it said that interest in the Olympics had led to a slow start to the football season. Stephen Morana, who stepped in as interim chief executive of the firm in January until Breon Corcoran was poached from Paddy Power last month, [...]
We didn’t expect London 2012 to be great… but it was September 11, 2012 A sensational summer of sport is drawing to an end and we all know anecdotally how well received it has been, but what does the data say? If we look at YouGov’s SportsIndex and focus in on the Olympics and Paralympics it tells the story very clearly: a nervous spring followed by an actively worried [...]
Locog refuses to pay G4S over Olympics chaos September 11, 2012 SECURITY firm G4S has not received any payment for its involvement in the Olympic Games since mid-July, London 2012 organisers revealed yesterday. Paul Deighton, Locog chief executive, told the Commons home affairs select committee that the firm have received around £90m of the agreed £236m fee to provide security guards for this summer’s Olympic and [...]
FSA penalty for BlackRock September 11, 2012 FUND management firm BlackRock was yesterday hit by a £9.5m fine for lapses in its deposit protection procedures. The Financial Services Authority (FSA) said that the firm failed to put trust letters in place for certain money market deposits and did not “take reasonable care” to identify and protect client money lodged with third party [...]
Unions ponder general strikes September 11, 2012 THE TRADES Union Congress yesterday voted to consider a general strike in protest at the government’s spending cuts. A big majority at the TUC’s annual conference in Brighton backed the measure, which pledges to look into the “practicalities” of a general strike, as called for by trade unionists including RMT boss Bob Crow. “This is a [...]
Celebs out in force for BGC charity day September 11, 2012 BROKERS and A-list celebrities joined forces yesterday on the trading floor of BGC Partner’s Canary Wharf office to raise millions of pounds for several charities. The trading spectacular, now in its eighth year, is held every 11 September to commemorate the 658 employees of BGC’s affiliate Cantor Fitzgerald who lost their lives in the 9/11 [...]
BAA blames Olympics for drop in traffic September 11, 2012 HEATHROW operator BAA yesterday said that airports saw a decline in passenger numbers in August as tourists stayed away during the Olympic Games. Total usage across its five sites was down two per cent on the same month last year, with Heathrow seeing a fall of 1.9 per cent to 6.5m passengers. “The reduction was [...]
Lavazza increases coffee stake September 11, 2012 ■ Coffee firm Lavazza increased its stake in Green Mountain Coffee Roasters, giving the Italian coffee roaster control of 6.8 per cent of the US company, according to a securities filing. Lavazza now owns about 10.5m shares of Green Mountain, owner of the Keurig single-cup coffee brewing system. Lavazza had owned 7.7m shares, or 4.99 [...]
