Premier Foods in talks to sell Quorn brand October 3, 2010 PREMIER Foods confirmed yesterday that it had received an approach for its meat-free brand Quorn. The UK’s largest food producer, whose brands include Hovis bread, Branston Pickle and Bisto gravy, promised in August to reduce its £1.4bn debt pile by £100m each year. The FTSE 250-listed group refused to name the suitor or asking price [...]
DO YOU THINK THE BANK OF ENGLAND WILL RESTART QE? October 3, 2010 PETER DIXON | COMMERZBANK “Desperate times may call for desperate measures, but until such times as the economic recovery goes into reverse, doing nothing may be the best strategy. And if the Fed does begin its QE2 programme, the UK can afford to keep its powder dry by free-riding on the Fed’s coat-tails.” PHILIP SHAW [...]
Top 100 list shows women at senior level September 26, 2010 MORE than a fifth of Europe’s 100 most influential women sit at the top of some of the largest companies within the financial services sector, according to new findings. According to the fourth annual list of the 100 most influential women compiled by Financial News, more than 20 per cent of the listed women in [...]
Simplicity is often a virtue September 23, 2010 WITH markets still directionless and a second-half slowdown looming, those with savings are increasingly looking into more exotic ways to preserve their nest-egg. The desire for safety combined with sinking government bond yields has fed demand for a series of structured products for private investors – that is, investment vehicles that promise a defined return [...]
ANALYST VIEWS IS IMPERIAL TRADING POSITIVELY September 22, 2010 RICHARD HUNTER| HARGREAVES LANSDOWN The update has been cautiously well received, with pressure on sales being offset by a reasonable rise in revenues. Central Europe has tended to carry the flag in more recent updates, as other regions have fallen foul of tougher economic conditions and increased government taxes on tobacco. JONATHAN JACKSON| KILLIK & [...]
Expect to see a widening gulf in the Eurozone September 21, 2010 STERLING plunged against the euro yesterday as worse-than-expected UK deficit figures exacerbated what was already a strong rally from the single currency. Coupled with solid demand at Spanish, Greek and Irish government bond auctions, this was enough to send sterling-euro down to a three-month low, with the euro also gaining a cent against the dollar. [...]
UK deficit a record high for August September 21, 2010 Britain last month posted a record budget deficit for August as interest payments on index-linked gilts shot up because of higher inflation than a year ago, official data showed. The Office for Nationals Statistics (ONS) said public sector net borrowing came in at £15.302bn, well above analysts’ forecasts for a reading of £12.5bn and some [...]
Investec plans to launch £250m securitisation to test the market September 19, 2010 SOUTH African banking group Investec plans to test the market with a £250m securitisation of “non-standard” mortgages, including some subprime loans. If it is successful, the deal would mark the first time subprime mortgages have been securitised in Europe since the financial crisis. People familiar with Investec’s plans said they had lined up a selection [...]
Investec sees profit uptick over first half September 16, 2010 SOUTH African bank Investec said yesterday that first-half operating profit is expected to inch up marginally, as a strong performance from the asset management and private wealth businesses offset sluggish investment banking activity. Investec admitted that defaults on bad loans have continued to increase due to the slow pace of economic recovery. Impairments remain elevated [...]
Fleming set to pounce as law firms open up September 15, 2010 FLEMING Family & Partners, the private wealth manager, has joined the growing pool of firms interested in investing into the legal sector once the market opens up next autumn. The family arm, which manages personal wealth for high net-worth families, has recently been in discussion with a number of law firms in the City about [...]