SPORT | IN BRIEF August 4, 2011 Williams set for Palace date ATHLETICS: British sprinting sensation Jodie Williams, 17, will make her Diamond League debut in the Aviva Grand Prix over 200m at Crystal Palace this evening, where she faces the world’s fastest woman, Shalonda Solomon. British fans turn out in force GENERAL: Sports fans turned out in record numbers this year as [...]
Haste goes out on a high as business he rebuilt turns in solid performance August 4, 2011 RSA’s outgoing chief executive Andy Haste will be well remembered as the man who turned the British insurance company’s fortunes around. After taking on the floundering insurer in 2003, when its market value stood at £1bn, his eight years at the helm have proved ultimately successful. Faced with huge losses, Haste was quick to make [...]
Aviva’s strategy pays off as profits rise 5pc and cash generation hits £800m August 4, 2011 AVIVA’s decision to focus its business on just 12 core markets was vindicated yesterday as it reported better-than-expected first half profits. The general and life insurer said it made £1.33bn IFRS operating profit over the past six months, four per cent higher than the consensus estimate for £1.28bn, while its net asset value per share [...]
Pru: Time to forget AIA August 4, 2011 At the end of a torrid week in which the UK’s insurers and banks have all reported financial figures, today is the turn of the Prudential, the insurer that has been given the hardest of times over recent months for its botched attempt last year to take-over AIA. The Prudential and its super clever chief [...]
FTSE fightback foiled by bank weakness August 4, 2011 The banking sector put the brakes on potential gains on the FTSE 100 in early trading after poor results from Lloyds. The index was expected to be given new impetus today as hopes of a new package to breathe life into the US economy encouraged investors elsewhere. Former Federal Reserve vice chairman Donald Kohn said [...]
CITY MOVES | WHO’S SWITCHING JOBS July 31, 2011 Age UK Enterprises The commercial services arm of Charity Age UK has hired Ashley Smalley as strategy director, working alongside Gordon Morris, managing director of AGE UK Enterprises. Smalley will be responsible for meeting the division’s growth targets for profit and customer numbers. His previous roles include head of strategy at Aviva Europe, head of [...]
THE WEEK AHEAD in association with GFT July 31, 2011 COMPANY NEWS ● It’s a busy week for results. Today, Hiscox, HSBC, Intertek and Ultra Electronics Holdings announce. ● Barclays, Capital Shopping Centres, Cookson, Drax, Fresnillo, GKN, Meggitt, Millennium & Copthorne Hotels, Rotork, Weir and Xstrata all announce tomorrow. ● Announcing on Wednesday are Capital & Counties Properties, Ferrexpo, Legal & General, Rexam, Rightmove, Standard [...]
High-speed changes to FX trading July 27, 2011 ELECTRONIC trading is not a new development. Nasdaq, the first electronic exchange, is more than 40 years old. But advancing technology has slashed latency. On the NYSE, 10 years ago an order took 20 seconds to execute a trade, now it takes one. “High-frequency trading (HFT) is a natural result of the technological developments we [...]
Carlyle looks to sell stake in RAC July 24, 2011 US private equity firm Carlyle Group is looking to sell part of its equity in RAC, the roadside rescue business it bought from Aviva for £1bn a month ago. The firm is looking to sell up to £200m of equity in RAC. GIC, the Singaporean sovereign wealth fund, is understood to be one of the [...]
FTSE gains fuelled by Eurozone deal July 22, 2011 The FTSE 100 tracked other global markets upwards as the sealing of a second bailout for Greece produced a collective sigh of relief from investors, governments and financial institutions. Leaders of the Eurozone threw a lifeline to debt-stricken Greece that includes an extra €109bn of government money as well as a significant contribution from private [...]