WHAT THE OTHER PAPERS SAY THIS MORNING March 7, 2010 THE SUNDAYS The Sunday Telegraph NORTHERN ROCK £400M LOSS Northern Rock made multi-million pound losses for a third year running in 2009, the nationalised lender will reveal this week. The bank will report pre-tax losses of about £400m, analysts believe, a marked improvement on the £1.36bn of losses in 2008. Since the Government bailed it [...]
THE NAME GAME IS ON FOR MANCHESTER UNITED’S RED KNIGHTS March 4, 2010 IS A setback in the offing for the self-styled “Red Knights”, the group of City businessmen plotting to seize control of Manchester United from current owners, the Glazer family? The Capitalist only asks having chanced upon another, very different, group bearing the same name while trawling the Internet yesterday. Actually, the moniker belongs to a [...]
CITY MOVES | WHO’S SWITCHING JOBS March 3, 2010 LaSalle Investment Management The investment manager has appointed Susan Lloyd-Hurwitz as managing director for Europe and a member of its nine-strong global management committee. Lloyd-Hurwitz will also be a director of LaSalle’s parent company, Jones Lang LaSalle. She has over 20 years of experience in the real estate and asset management industry, most recently as [...]
FTSE rises as commodities and financials set the pace March 3, 2010 BRITAIN’S leading shares gained 0.9 per cent yesterday, boosted by strength in miners and oils, banks and life insurers, as upbeat US data lifted Wall Street. At the close, the FTSE 100 was 49.15 points higher at 5,533.21, ending at a seven-week peak on its fourth straight session of gains. “All the figures were pretty [...]
JLT: We have outperformed our US rivals March 2, 2010 JARDINE Lloyd Thompson (JLT) has seen double-digit growth in 2009 revenue and profits as the Lloyd’s of London listed insurer said it will avoid making any large acquisitions. Revenue for the group climbed to £612.9m, marking a 14 per cent increase on 2008 when income came in at £536.1m. Likewise, profits before tax reached £102m [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 1, 2010 FINANCIAL TIMES TOYODA APOLOGY TOUR IN BEIJING Akio Toyoda, chief executive of Toyota Motor, apologised to Chinese consumers yesterday during a visit to Beijing, as he extended his effort to repair Toyota’s image to the biggest-volume car market in the world. Toyoda flew to China from the US where he had received tough criticism from [...]
Lloyd’s insurer Amlin enjoys bumper year March 1, 2010 LLOYD’S of London insurer Amlin saw profits jump fourfold last year as it benefited from a recovery in investment markets and avoided major natural disasters. Amlin reported a pre-tax profit for 2009 of £509.1m, compared with £121.6m in 2008. The results were almost a fifth higher than most analysts predicted. Bullish Amlin chief executive Charles [...]
London rises as miners and energy companies set pace March 1, 2010 LONDON’S top share index rose one per cent yesterday as big gains from miners and energy stocks, boosted by firmer commodity prices, outpaced faltering banks following disappointing results from HSBC. The FTSE 100 closed 51.42 points higher at 5,405.94 points, having hit a five-week high earlier in the session of 5,420.83. The index has rebounded [...]
Prudential seals £23bn deal for AIG’s Asian arm March 1, 2010 INSURANCE giant Prudential (PRU) has snapped up the Asian operations of US insurer AIG for £23bn in a move which will transform the company. The UK’s largest insurer has agreed to pay $25bn in cash and $10.5bn in equity. Prudential in turn will seek to tap shareholders for around $20bn and issue $5 bn of [...]
Prudential preparing for £23bn AIG Asian deal February 28, 2010 PRUDENTIAL, the largest insurer in Britain, is on the verge of an audacious takeover of the Asian operations of American International Group valued at around £23bn. The Pru would raise £15bn through a mammoth rights issue to help fund the transaction, which would transform it into the most powerful insurance player in the high-growth Far [...]