This is how City analysts reacted to RSA’s bumper results February 23, 2017 RSA was pretty chipper this morning about its annual results. Beating consensus expectations, the FTSE 100's share price was one of the index leaders on what was otherwise subdued early trading – it was up over five per cent minutes after the open. RSA 2016 results (£m unless stated) Expectation Actual Net written premiums 6,337 6,408 Underwriting result [...]
O2 to sponsor London arena for 10 more years after success of enticing more customers to stay February 23, 2017 O2 hailed its partnership with what was once seen as the UK’s largest white elephant, saying it has been key to halving the number of people leaving the mobile network over the last 10 years. The mobile network firm, owned by Spanish telecoms giant Telefonica, initiated the sponsorship in 2007 of what was then called the Millennium [...]
Formula One: MEP hits back at governing body claims of malicious intent February 22, 2017 The MEP championing change in Formula One has hit back at claims by the sport's governing body that her cause is “inaccurately informed or made maliciously”. In an open letter Anneliese Dodds highlighted a conflict of interest in Formula One's regulator, the FIA, allegedly profiting from signing off on the sale of Formula One to Liberty Media. One [...]
Globalworth buys mammoth Renault site in deal worth €42.5m February 22, 2017 An Aim-quoted real estate firm is set to be the new landlord of one of carmaker Renault's largest distribution centres. Globalworth Real Estate Investments has agreed to pay €42.5m (£35.7m) for a Romanian warehouse that Renault currently leases to subsidiary Dacia. Read more: French is the sexiest accent in the world, according to Renault The site covers approximately 68,000 square [...]
Serco shares plummet. But it’s all part of a long and winding road to recovery, says its boss February 22, 2017 Serco's share price plummeted over 18 per cent after the FTSE 250 firm posted a 14 per cent fall in profits for the year to December. But analysts warned investors in the supply services giant would likely take flight owing to a cut to forecast earnings in 2018 and an increased tax bill. The figures Total revenue fell [...]
Hays boss: Londoners should look outside of the capital for signs of optimism in the UK jobs market February 22, 2017 London's workers should look beyond the capital for evidence that greenshoots are emerging in the UK jobs market after the meteoric shock of the Brexit vote, the boss of Britain's largest recruitment firm said today. FTSE 250 firm Hays' today revealed UK revenues fell by 10 per cent in the six months to December. "Immediately post the [...]
BT appoints European replacement in the wake of Italian accounting scandal February 22, 2017 BT today revealed the person responsible for getting to the bottom of the Italian accounting scandal that rocked the FTSE 100 stalwart in January. Chet Patel, who is currently president of BT's global portfolio and marketing, will lead the firm's continental Europe division from 1 March. The position was vacated by Corrado Sciolla left BT, days after news of a £530m accounting blackhole in Italy was revealed. [...]
Hays’ shares fall as global operations compensate for contracting UK market February 22, 2017 Recruiter Hays' share price fell over three per cent this morning despite posting double-digit percentage growth in its half-year figures. The figures Net fees for the first six months of the firm's financial year increased by 17 per cent to £466m with operating profit increasing by 16 per cent to £100m. Figures were given a [...]
Gresham House launches a platform for pension funds that want to make an impact February 21, 2017 Mammoth pension funds are to be able to invest into smaller, socially responsible projects through a new platform announced today. The initiative has been created by AIM-quoted investment house Gresham House and has attracted cornerstone interest from Berkshire's local government pension fund, alongside a 20 per cent shareholding the fund has agreed to take in Gresham House itself. Larger pension funds [...]
