Polyus Gold delays London listing October 25, 2011 RUSSIA’S biggest gold miner shelved its plans to list on the London Stock Exchange yesterday, saying the Russian government had delayed giving its consent to the deal. Polyus Gold, which is headed by billionaire oligarch Mikhail Prokhorov, said it had postponed its main market listing until a Russian government commission approved its plans. “The company [...]
G4S chief in flurry of ISS meetings October 25, 2011 NICK Buckles, the chief executive of security group G4S, has held more than 20 meetings with key investors over the last fortnight in an attempt to convince them to back the £5.2bn takeover of rival ISS. City A.M. understands Buckles has met several institutional investors more than once and will continue to hold the sessions [...]
Female CEO for IBM as Palmisano steps down October 25, 2011 IBM’s long-serving chief executive Sam Palmisano will step down at the end of the year, the tech giant said as it unveiled a beefed up buyback programme. Palmisano, credited with helping transform the once PC-focused company into a services company during a near-decade-long run starting in 2002, will stay on as chairman. Global sales head [...]
Intl Personal Finance profits up October 25, 2011 Emerging markets lender International Personal Finance posted higher third-quarter profit yesterday, helped by growth in customer numbers and credit volume issued, and said it could weather the global economic turmoil. The company said pre-tax profits for the third quarter had risen by 11 per cent to £27m, with revenues rising by nine per cent over [...]
Greencore gets takeover interest October 25, 2011 Shares in Irish food group Greencore jumped almost 10 per cent yesterday after it revealed a preliminary takeover approach from an unnamed company. Greencore, whose merger with Northern Foods fell through in March, bought rival Uniq in July to improve its ties with Marks & Spencer. The maker of Weight Watchers meals and Bisto gravy [...]
Abu Dhabi bank doubles profits October 25, 2011 Abu Dhabi Commercial Bank, the fourth largest bank in the UAE by market value, nearly doubled its third-quarter net profit yesterday to 607.6m dirhams (£103.4m), beating analysts forecasts, helped by lower impairment provisions and higher net interest income. Net interest and Islamic finance income grew to 1.33bn dirhams in third quarter compared with 877m dirhams [...]
Babson fund shelves London IPO October 25, 2011 Market turbulence claimed the scalp of another IPO yesterday, as US fund manager Babson Capital said it was shelving the imminent £125m float of one of its funds. Babson said the Global Floating Rate Loan Fund, which hoped to use the money raised in London to invest in European and North American assets, said that [...]
EU to lift SME accounting burden October 25, 2011 The smallest European businesses will have to produce smaller and less onerous financial reports and face less stringent audits under new proposals tabled by the European Commission that could save businesses across the
Puma looks to ramp up US turnover October 25, 2011 GERMAN sporting goods maker Puma said it had more work to do to attract customers in the US after sales there fell in the third quarter. For the three months to the end of September Puma reported sales of €841.6m (£730.8m) and net profit of €81.7m. Sales in North America fell by a single-digit amount, [...]
King: Summit can’t fix euro fundamentals October 25, 2011 A LONG-TERM fix for the Eurozone crisis will not be found at the current summit, Bank of England governor Sir Mervyn King predicted yesterday. “The aim of the measures to be introduced over the next few days is to create a year or possibly two years’ breathing space,” he told the Treasury select committee. “The [...]
