Aveva hit by shareholder spring as 35pc vote against pay deal July 12, 2012 IN A sign that shareholder unease over executive pay dubbed the “shareholder spring” is continuing, software maker Aveva yesterday saw over a third of its shareholders vote against approval of the directors’ remuneration report at its AGM. While the remuneration report was easily passed with 65.52 per cent in favour, versus 34.47 per cent against, [...]
CITY VIEWS | HAVE THE O2 NETWORK PROBLEMS AFFECTED THE FIRMS’ REPUTATION? July 12, 2012 RUPERT BUSHMAN AVIVA I’m not an O2 user, but I would say this hasn’t affected how I see the company. This is just one of those annoying things a bit like the NatWest fiasco – it’s a human glitch, and it’s bound to happen sometimes. It does demonstrate the weakness of these systems – we [...]
Wet weather hits insurers with flood payouts set to top £200m July 12, 2012 INSURERS face a bill of “hundreds of millions of pounds” following this summer’s floods, an analyst said yesterday. Barrie Cornes of Panmure Gordon estimated that Aviva, which insures around 12 per cent of households in the UK, will be hit with a charge of £20-£40m for flood damage during the first six months of 2012. [...]
CITY MOVES | WHO’S SWITCHING JOBS July 12, 2012 Ignis Asset Management Jeremy Soutter has been appointed global head of product development at the asset management firm. He will join on 1 August from Aviva Investors, where he has held a similar position for 13 years. Soutter has worked in asset management since the early 1980s, notably at Gartmore Fund Management, Lloyds Bank and [...]
FTSE tracks Wall Street losses July 11, 2012 The FTSE 100 fell in early trading tracking overnight losses on Wall Street as the US earnings season revealed corporate weaknesses. US stocks fell for a fourth day after a sales warning from engine maker Cummins came on top of earlier weak forecasts from chipmakers Applied Materials and Advanced Micro Devices. In London luxury retailer [...]
FTSE dips as investors eye US jobs data July 6, 2012 The FTSE 100 fell in early trading with investors cautious ahead of key US jobs data and still absorbing moves by three central banks to get their country’s economies back on track. Banks in China, Europe and Britain loosened monetary policy in an attempt to boost flagging global growth but ended up spooking investors, who [...]
Aviva raises $494m from Aviva Delta stake sale July 6, 2012 Britain’s second-biggest insurer Aviva has kicked off plans to sell or close more than a quarter of its businesses by selling part of its stake in Dutch rival Delta Lloyd for £318m. Aviva, which is aiming to regain the support of investors unhappy with its flagging share price, said it had sold 37 million shares [...]
Aviva trashes Moss as it sells off weak businesses July 5, 2012 INSURANCE giant Aviva yesterday unveiled radical plans to dispose of a quarter of its business units in a damning indictment of the strategy pursued by former chief executive Andrew Moss. Aviva said it will sell or close down 16 underperforming divisions, including its South Korean business and several of its Italian partnerships. Although it declined [...]
Shareholder spring flowers into a cultural revolution July 5, 2012 CYNICS say no matter who you vote for the government always gets in. Not so at Aviva. Yesterday’s announcements proved the shareholder spring is not just a season of discontent – it’s becoming a revolutionary movement. The repudiation of the FTSE 100 insurer’s remuneration report in May was quickly followed by the resignation of chief [...]
FTSE creeps up as investors await BoE decision July 5, 2012 The FTSE 100 edged up in early trading as investors awaited the Bank of England’s next move on interest rates and quantitative easing to be announced at midday. Investors were also watching the unravelling Libor (the London Interbank Offered Rate) scandal with ratings agency Moody’s today threatening to downgrade Barclays over the damage to its [...]