Profits drop by 26 per cent for British packaging company DS Smith, causing share price to tumble too December 3, 2015 Profits have unraveled at DS Smith, as the packaging company today announced a fall in profits before tax of 26 per cent on a reported basis to £91m for the six months ended 31 October 2015. Revenue at the company dropped one per cent on a reported basis to £1.95bn, although this had increased by [...]
CVC set to buy up almost half of the RAC December 2, 2015 CVC CAPITAL Partners, the largest shareholder in Formula One, will reportedly announce the purchase of almost 50 per cent of breakdown company RAC later today. CVC will purchase the stake from rival private equity group Carlyle which bought the company in 2011, it was reported late last night. Singaporean sovereign wealth fund GIC, will retain [...]
Insurance giant Axa planning to sell off wealth management division in UK November 22, 2015 Axa has brought in advisors to help it sell off some of its UK businesses, including parts of their wealth management division, the Sunday Times reported today. Sources told the Sunday newspaper that the insurer, who is headquartered in France, had grown weary of the UK’s regulatory environment and had called in bankers at Barclays and [...]
Eddie Jones: New England head coach rules out overseas-based players rule change and addresses Chris Robshaw captaincy concerns November 20, 2015 New England head coach Eddie Jones has warned overseas-based English players they will not be offered a return into the national team under his leadership. When outlining his plans for the Red Rose, the Australian backed the RFU's controversial policy of only selecting players contracted to an Aviva Premiership club – a stance called into [...]
City Moves for 20 November 2015 | Who’s switching jobs November 19, 2015 COLLIERS INTERNATIONAL The commercial real estate services firm has appointed Shane O’Reilly as associate director in its investment property management team. He joins after 10 years at King Sturge/JLL, where his mandates included Crown Estate, Urban Regional Portfolio, and Ropemaker Properties. DEUTSCHE ASSET AND WEALTH MANAGEMENT Matthew Lamb has been appointed co-head of alternatives coverage [...]
Former Aviva Investors analyst Mothahir Miah banned and fined £139,000 by FCA for cherry picking hedge fund trades November 17, 2015 The Financial Conduct Authority (FCA) has hit a former investment analyst at Aviva Investors with a £139,000 fine and banned him from taking part in any regulated activity in the financial services industry. Mothahir Miah deliberately delayed booking and placing the trades of hedge-funds by several hours, in order to allocate those which had benefitted from [...]
HomeServe fixes up profit of £26.2m for 2015 half year results as customer numbers continue to rise November 17, 2015 HomeServe this morning revealed adjusted profit before tax of £26.2m for the six months ended 30 September 2015, up less than one per cent from £26m for the same period last year. However, adjusted profit before tax on a constant currency basis would have been £28m, an increase of eight per cent. Net debt for [...]
Ireland qualify for Euro 2016 as Jonathan Walters helps exorcise ghost of Thierry Henry handball November 16, 2015 Republic of Ireland boss Martin O’Neill hailed the battling qualities of his side after they overcame Bosnia-Herzegovina in a nervy play-off at the Aviva Stadium last night to qualify for next year’s European Championships. Ireland are no strangers to play-offs and had lost five of their previous seven, but a goal in each half from [...]
City Moves for 12 November 2015 | Who’s switching jobs November 11, 2015 Lloyds Bank Commercial Banking Michael Bond has been appointed mid markets relationship director in the bank’s technology, media and telecommunications team in London. He previously held a similar role at Lloyds, looking after clients in the education, communities and government sector across the South East. State Street Global Advisors State Street’s asset management arm has [...]
Insurers to announce Indian investment plans during Narendra Modi’s UK Visit November 9, 2015 A number of insurers will announce this week that they are planning to pour money into Indian investments. The announcement will coincide with Indian Prime Minister Narendra Modi’s visit to the UK. Aviva, Bupa, Lloyd’s of London, Standard Life and Willis will confirm collect plans to put money into Indian joint ventures and partnerships, Sky [...]