FTSE edges higher as strong results from Reckitt boost investors’ mood October 24, 2012 BRITAIN’S top share index edged higher yesterday, helped by consumer goods group Reckitt Benckiser’s robust update, although traders said concerns over earnings would limit further moves higher. The blue-chip FTSE 100 index closed up 0.1 per cent, or 6.87 points higher, at 5,804.78 points, recovering slightly from a 1.4 per cent fall on Tuesday. Heavyweight [...]
UK set to celebrate the official end of the recession after Games boost October 21, 2012 THE UK is this week expected to officially exit recession, with news from the Office of National Statistics set to confirm the double dip is over. The ONS will publish its first estimate of third quarter GDP, with analysts predicting impressive growth, due in part to the Olympics. Howard Archer, of IHS Global Insight, said: [...]
Promotion for BAML banker Hume-Kendall October 9, 2012 RUPERT Hume-Kendall, one the most prolific dealmakers at Bank of America Merrill Lynch and short-listed for City A.M.’s investment banker of the year award, has just been promoted to a new position within the bank. He will now be chairman of global corporate and investment banking for Europe, Middle East and Africa. Hume-Kendall has advised [...]
Rupert Hume-Kendall lands promotion at Bank of America Merrill Lynch October 9, 2012 Rupert Hume-Kendall, one the most prolific dealmakers at Bank of America Merrill Lynch and short-listed for City A.M.’s investment banker of the year award has just been promoted to a new position within the bank, City A.M. has learnt. He will now be chairman of Global Corporate & Investment Banking for Europe, Middle East and [...]
Corporate governance mishap puts Reckitt boss in spotlight October 8, 2012 RECKITT Benckiser, the FTSE-listed consumer giant, could face a probe by the City watchdog after failing to alert the stock exchange that chief executive Rakesh Kapoor had pledged £8.7m worth of shares against a personal loan. The company behind household products such as Strepsil and Gaviscon admitted yesterday that in 2010 Kapoor had put up [...]
Don’t write off the big guns of corporate broking yet September 27, 2012 WHEN Bob Diamond quit Barclays in July, there were many, myself included, who predicted that the bank’s investment business would struggle here on in. Longer-term that may indeed be the case, but the message so far from the world of UK corporate broking is showing a different story. Two big broking mandates, that of Severn [...]
Reckitt stops Suboxone pills in US September 25, 2012 Reckitt Benckiser said yesterday it is to withdraw its Suboxone heroin treatment tablets in favour of a film version in the US over the next six months due to the higher risk of children getting hold of the tablets. The consumer conglomerate said it will stop supply after US data showed that tablets were up [...]
Capital Shopping Centres to tap bond market for £300m in cash September 20, 2012 CAPITAL Shopping Centres (CSC), the UK’s largest shopping centre owner, has become the latest listed property firm to turn to the market for cash after it launched a £300m bond issue yesterday. The owner of malls including the Trafford Centre in Manchester and Lakeside in Essex, is offering £300m of senior, unsecured convertible bonds due [...]
Reckitt Benckiser ditches CFO after culture clash September 17, 2012 CONSUMER goods giant Reckitt Benckiser yesterday ditched its current chief financial officer Liz Doherty in favour of Smith & Nephew’s Adrian Hennah, after it admitted Doherty was not “well matched” to the firm. Doherty, who was appointed in January 2011, will remain working at the company until March 2013. Hennah will join in December 2012, [...]
Smith & Nephew CFO joins Reckitt Benckiser September 17, 2012 Consumer goods firm Reckitt Benckiser has appointed Adrian Hennah as new chief financial officer. Hennah joins from Smith & Nephew, and will assume the position at the end of December, to replace Liz Doherty, who is stepping down next March. He has held the position of chief financial offer at the medical devices group since [...]