Steady does it as Lloyd’s of London reveals review February 7, 2010 LLOYD’S of London, the insurance and reinsurance market, will publish plans to strengthen its ties with insurance brokers today as it gears up for a profitable reporting season. In a sweeping strategic review, Lloyd’s will salute its members’ resilience in the face of the financial crisis and remark that its subscription-based model has held up [...]
Golden girls are back on the glory trail February 7, 2010 NICOLA Minichiello set her sights on Olympic gold the moment the curtain fell on the 2006 Turin Games – but with her day of destiny looming the bobsleigh star is lucky to be seeing at all. The 31-year-old former heptathlete, and partner Gillian Cooke, looked nailed on for a podium place in Vancouver after storming [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 3, 2010 FINANCIAL TIMES AXA PUTS SPOTLESS UP FOR SALE Spotless, the French maker of laundry and cleaning products, could become the latest “pass-the-parcel” deal between private equity groups, after Axa Private Equity put it up for sale with a €600m-€700m price tag. A recent recovery in debt markets has encouraged private equity groups to become more [...]
Doubts grow over QE end January 26, 2010 THE lower than expected economic growth figure may delay the ending of Quantitative Easing (QE), according to Citi economist Michael Saunders. “Before these data, we judged that there was little chance that QE would be extended at next week’s MPC meeting. “These data introduce considerable uncertainty, but on balance we still believe that the MPC [...]
SPORT | IN BRIEF January 26, 2010 Manchester to host Haye return BOXING: Britain’s David Haye will make the first defence of his WBA world heavyweight championship against John Ruiz in Manchester on 3 April. American Ruiz is the mandatory challenge for Haye, who clinched the title with a crushing defeat of Russian giant Nikolay Valuev in November. “It’s been 10 years [...]
Defensive shares lift FTSE but banks and miners weak January 26, 2010 BRITAIN’S leading share index added 0.3 per cent yesterday, as support for defensive issues, and a modest early rally on Wall Street, offset weakness in heavyweight miners and banks. At the close, the FTSE 100 index was up 16.54 points at 5,276.85, snapping a four-session losing streak, having earlier reached an intraday low for the [...]
A salt of the earth therapy for congested Londoners January 26, 2010 ENTERING the treatment room at South London’s Salt Cave clinic is a bit like stepping into Narnia. You may be going via an anteroom in a converted Earlsfield community centre rather than through the back of a wardrobe, but what greets you is an all-white environment, with powder spread in little ripples and dunes across [...]
All can fail: my new manifesto for the banks January 25, 2010 REGULAR readers of this column will know that I am no fan of many of the proposals being cooked up to reform the banks. I have opposed Barack Obama’s plan to ban retail banks from engaging in proprietary trading; George Osborne’s support of Glass-Steagall, which would break up commercial and investment banks; and Alistair Darling’s [...]
Hiscox upbeat despite fall in renewal rates January 25, 2010 BRITISH insurer Hiscox reported a drop of up to seven per cent in average reinsurance prices as policies came up for renewal this month, but said the lower rates still offered attractive profit margins. Reinsurance rates fell between five and seven per cent, Bermuda-based Hiscox said yesterday, blaming stiff competition between well-capitalised reinsurers.. The firm [...]
HBOS extends hotel loan January 24, 2010 A CASHFLOW crisis threatening luxury hotel group the Rocco Forte Collection has been averted by a £300m loan extension from HBOS, part of Lloyds Banking Group. The 18-month extension, which pre-empts a long-term solution, follows urgent talks between owner Sir Rocco Forte and the bank, the Times reported. It is understood the hotel group, whose [...]