Aviva chief exec gets 9pc pay hike as shares suffer March 21, 2012 AVIVA chief executive Andrew Moss saw his total pay rise by nine per cent in the year to 1 April, despite the insurer’s shares having fallen by more than 20 per cent over the past 12 months. Moss’s (pictured) basic pay rose 3.8 per cent, increasing from £925,000 to £960,000. He then earnt a £1.16m [...]
FTSE posts slim gain after Budget March 21, 2012 London’s blue chip index posted a marginal gain on closing after a volatile session as strength in market heavyweight Vodafone countered weaker commodity stocks hit by below par US data which revived concerns over demand for metals. The UK blue chip index closed up 0.54 points, or 0.01 per cent, at 5,891.95, surrendering a 0.3 [...]
FTSE buoyed by retailers as investors eye Budget March 21, 2012 THE FTSE 100 headed up in early trading as retailers regained some momentum while investors were turning their attention to the Chancellor’s budget speech. George Osborne is expected to rejig taxes while seeking to keep his austerity plan on track. However figures showing that that public sector net borrowing hit a record for February cast [...]
SVG shake-up as rebels fail to win vote March 20, 2012 PRIVATE equity investor SVG Capital has faced down a shareholder revolt and will continue with plans to diversify beyond Permira, the buyout firm in which it has traditionally invested. SVG won 66 per cent backing for the change yesterday although nearly 34 per cent of the votes went against it. It also won virtually unanimous support to [...]
Direct Line Group set to name Biggs as chairman March 20, 2012 ROYAL Bank of Scotland (RBS) has offered the role of chairman at Direct Line Group, its insurance unit, to Mike Biggs, a former finance director at Aviva. It is understood that Biggs has not yet formally accepted the job but he will be tempted by the chance to lead a firm that is set to [...]
Investors call for improved stewardship March 18, 2012 A GROUP of major asset managers including Aviva and BlackRock are calling today for reforms to improve the stewardship of UK companies. The group’s report argues for the development of a framework for equity investors to identify the level of stewardship they plan to undertake, helping asset owners to make better decisions. It also calls [...]
Budget week will see Italy, inflation and retail in focus March 18, 2012 TODAY I anticipate a quiet start to the week, with a lack of economic announcements from the UK and the US. All eyes are likely to focus on the Eurozone as we get further indication of the health of one of its largest economies. Italy reports industrial order and sales numbers at 9am for January. [...]
Trinity Mirror faces uproar over Sly Bailey’s pay packet March 11, 2012 TRINITY Mirror is said to be taking seriously concerns raised by top shareholders about the rewards bestowed on chief executive Sly Bailey, ahead of the media group’s results on Thursday. The company’s top shareholders – Schroders, Aviva Investors, Standard Life and Legal & General – collectively own 42 per cent of Trinity Mirror and have [...]
US announcements will top and tail the week March 11, 2012 TODAY With no major economic or corporate announcements in the UK, one would assume that trading will be fairly quiet. But the market has plenty to digest from the tail end of the previous week. Non-farm payroll and unemployment numbers are likely to dictate trading activity across most asset classes for a couple of days. [...]
Kidney plots St Patrick’s Day party at HQ March 11, 2012 IRELAND head coach Declan insists his side are ready to make it a St Patrick’s Day to remember for their travelling fans at Twickenham on Saturday. Hapless Scotland were put to the sword at the Aviva Stadium on Saturday as Ireland made light of skipper Paul O’Connell’s absence, running in four tries in a convincing [...]