Amlin bounces back thanks to fewer disasters August 20, 2012 INSURER Amlin yesterday reported stronger than expected profits after the firm enjoyed six months without any major catastrophes. The Lloyd’s of London firm reported first half pre-tax profits of £184.5m against a loss of £192.3m for the same period last year. “This is a welcome return to profit and the strength of our underwriting result [...]
Get out the way: Small firms must be allowed to return UK to growth June 10, 2012 THE EUROZONE crisis is like a tragic opera: a torturous tale in which half the cast will be dead by the intermission. Of the Eurozone’s 17 characters, 12 are in recession, while all are banking on Germany to play the hero and keep the whole racket going. Monetarists and Keynesians disagree on how to return [...]
Weak factory data fuels fear of recession March 14, 2012 EVERY major EU economy except Germany’s saw industrial production fall in the year to January, official figures showed yesterday. The data reflects output from factories, as well as other industrial activities such as mining. Output fell 1.2 per cent in the 12-month period in the Eurozone and one per cent in the EU as a [...]
Hedgie star Harding set for windfall as he beats slump January 2, 2012 THE HEDGE fund run by “black box” pioneer David Harding (pictured, right) has emerged as one of the few major winners after a dire year for the industry. Winton Capital’s futures fund returned 6.3 per cent in 2011, according to provisional figures seen by City A.M. This contrasts with the average hedge fund’s 4.45 per [...]
Weak factory output builds recession risk December 7, 2011 INDUSTRIAL and manufacturing output fell in the UK in October, data from the Office for National Statistics (ONS) revealed yesterday, leading economists to warn that some sectors are falling back into recession. The index of manufacturing fell 0.7 per cent between September and October, bringing annual output growth down to just 0.3 per cent. The [...]
Terra Firm set to leave RBS aviation sale November 1, 2011 TERRA Firma, the private equity firm run by Guy Hands, looks set to lose its place in the next stage of RBS’s £4bn auction of its aircraft leasing arm. The firm is not expected to improve its current bid in order to make it to the next round of the auction, Sky News reported last [...]
ROTHSCHILD GIVES STAFF ITS TURKEY OF A BONUS October 23, 2011 EVERY little helps, as the Tesco slogan goes. So the price-conscious supermarket giant will be pleased to learn that the competitively remunerated London employees of Rothschild receive daily luncheon vouchers for the sum of £3 that can be refunded in any of its stores. But Rothschild’s solicitous attempts to ensure its workforce is well fed [...]
Grand rescue plan is certain to fail October 10, 2011 Markets are on tenterhooks to see how the Eurozone’s new merry-go-round of money, known as its bank recapitalisation scheme, is going to work. And following yet another delay in the unveiling of the plan – with Monday’s summit pushed back a week and few details likely until November – they will be waiting a little [...]
Del Monte and BarCap settle October 6, 2011 DEL Monte and its financial adviser Barclays Capital yesterday agreed to pay $89.4m (£57.9m) to settle a lawsuit that claimed they had not acted in investors’ best interests in the food company’s $4bn buy-out last year. Investors claimed that Barclays, which advised Del Monte on its sale to a private equity group led by KKR, [...]
Haile motivated: Marathon master going the distance to London 2012 September 28, 2011 IF YOU’RE looking for a quitter, someone who shrinks in adversity, who lacks the resolve to adhere to a task until the bitter end, then one of the greatest distance runners of all time is resoundingly not your man. A fanfare-festooned career bejewelled by two Olympic gold medals, four world championship golds and 27 world [...]