CITY VIEWS: DO YOU THINK THE RECESSION IS BEGINNING TO EASE? June 4, 2009 PAUL MCNALLY BRIT INSURANCE“I haven’t really noticed the recession, full stop. The pubs are full, the restaurants are busy. People say the housing and stock markets are down but that isn’t relevant unless you’re buying or selling, so elements of the crisis have been overblown.” ANNA KINGSMILL-VELLACOTT AKV“My gut feeling is that confidence is beginning [...]
Acer’s deal with Google is bad news for Microsoft June 4, 2009 ACER’S announcement that it will start selling a laptop pre-loaded with Google’s Android operating system will come as a blow to Microsoft. For the last quarter of a century, the firm founded by Bill Gates has dominated the operating software space with a monopoly that has earned awe and anger in equal measure. But Google’s [...]
Car sale falls hurt Matthey June 4, 2009 JOHNSON MATTHEY beat expectations with a one per cent rise in full-year pre-tax profit yesterday, but warned sales will fall in the coming months as the global car industry continues to struggle. The world’s biggest distributor of platinum, which is used to make jewellery, car catalysts and as an ingredient for drugs posted an adjusted [...]
FSA EXTENDS SAVER PROTECTION June 4, 2009 THE FSA, led by Lord Turner, is extending seperate deposit protection for savers whose building societies are bailed out by another one until the end of 2010. The FSA is trying to reassure people whose combined savings in a merged society exceed the current £50,000 limit.
Detail on LSE chief’s pay plan June 4, 2009 City A.M. yesterday reported that the London Stock Exchange’s (LSE) new chief executive Xavier Rolet could earn £5.2m in his first year in the role. The LSE has subsequently pointed out that Rolet could earn up to £2.3m this year through his base salary, benefits and bonus, if targets are exceeded. Should he choose to [...]
Mayfair group opens infra fund June 4, 2009 Gravis Capital Partners, the recently-founded Mayfair boutique fund manager, has launched the first debt-based infrastructure fund available to high-net worth investors. The group said the fund will aim for an eight per cent annual return via debt investment in public sector-backed investments, in the form of debt, in construction areas like schools.
Goals in 11m fundraising June 4, 2009 Goals Soccer Centres, which runs five-a-side football pitches across Britain, said yesterday it planned to raise £11m from a placement of around 6.7m shares to accelerate the rate of openings of new soccer centres. The price of £165p a share represents a seven per cent discount to Goal Soccer’s closing price of 177.5p yesterday.
Hartford boss quits amid losses June 4, 2009 Hartford Financial Services said chief executive Ramani Ayer, under pressure from shareholders as the 199-year-old insurer struggles with record losses, will retire by the end of of 2009. The group is hunting externally for a successor.
WH Smith sales better than hoped June 4, 2009 WH Smith, the British newspaper, books and stationery retailer, reported a better than expected four per cent fall in underlying third quarter sales yesterday and said it was confident of its full-year prospects. The group, which trades from 557 high street stores across the UK, said sales at stores in its town centre businesses open [...]
Rose bags 28 per cent hike in pay packet June 4, 2009 STUART Rose, executive chairman of Marks & Spencer, collected a share windfall of £288,000 last year, boosting his total income by 28 per cent. Rose collected £1.76m for the year ending March 2009, up from £1.38m a year earlier. Although Rose’s basic salary was frozen at £1.13m and he received no bonus for the second [...]
