FTSEcloses at one-year high as energy and mining rally October 12, 2009 RALLYING energy stocks and miners, spurred by firmer commodity prices and growing optimism on the corporate outlook and global economy, helped the top share index to its highest close in over a year yesterday. Global equity markets were given a shot in the arm by forecast-beating results from Philips ahead of earnings from other major [...]
CITY MOVES WHO’S SWITCHING JOBS October 11, 2009 McDermott Will & EmeryThe law firm has appointed Hugh Nineham as its new London office head, replacing Doron Ezickson, who steps down to return to full-time practice as head of international for the energy and commodities practice. Nineham joined the company in April 2008 from rival Lovells, where he previously headed up the firm’s international [...]
Aviva to list in New York October 7, 2009 INSURANCE giant Aviva has announced plans to list on the New York Stock Exchange as it embarks on a drive to raise its profile in the US. The company, the world’s fifth-largest insurer by gross premiums, said it would begin trading on 20 October, just days after it said it would launch a partial initial [...]
Insurers fail to lift the FTSE as investors await US results October 7, 2009 BRITAIN’S leading shares closed lower yesterday as falls in oil majors and food retailers offset gains in insurers as investors waited for the start of the earnings seasons in the US to give a fresh direction. The FTSE 100 closed down 29.08 points, or 0.6 per cent, at 5,108.90, after ending 2.3 per cent higher [...]
CITY VIEWS: ARE YOU WORRIED THAT HOUSE PRICES COULD SOAR OUT OF CONTROL AGAIN? October 6, 2009 TONY DOONA CARILLION“I don’t believe they will get out of control, in fact I think they’re more likely to go down again. There’s a shortage of cash in general and it’ll be no better next year. There’s no construction going on, simply because no one has any money. I can’t see the government doing anything [...]
Finsbury spins another healthy profits increase October 6, 2009 CADBURY’S financial public relations adviser Finsbury has increased profits despite the downturn in the economy, according to documents filed at Companies House. Profits have reached £8.8m against £8.75m last year and founder Roland Rudd has seen his pay package reach £2.9m against £2.25m the year before. Rudd, a former financial journalist with the Financial Times, [...]
Hodges to head Aviva UK as insurer announces management reshuffle October 6, 2009 Aviva yesterday announced that its head of UK life insurance Mark Hodges is to become chief executive of its entire domestic business, bringing all its UK life and non-life operations under one leader. The move is part of a management shake-up which has been prompted by the retirement of Aviva’s chief executive of North America, [...]
CITY MOVES WHO’S SWITCHING JOBS October 6, 2009 ThreadneedleThe asset management firm has appointed Kris Haber as global head of hedge funds and head of the North American business. Haber, who will report directly to the firm’s chief executive Crispin Henderson, joins after a 13-year spell working for Lazard Asset Management, where he was most recently a managing director for global alternative investments. [...]
Aviva in Delta Lloyd listing next month October 5, 2009 INSURER Aviva yesterday said it was on track to sell off a chunk of its Dutch unit next month, raising hopes the firm will go on the hunt for buyout targets. Aviva said it will sell off part of the Delta Lloyd unit in November by listing the company on the Euronext stock exchange in [...]
Aviva to raise 1bn by listing its Dutch unit October 4, 2009 INSURANCE group Aviva will today announce plans to raise £1bn through a partial flotation of Dutch unit Delta Lloyd. The insurer is expected to float between 30 and 40 per cent of the Dutch business on the Euronext Stock Exchange in Amsterdam. The listing will be the biggest initial public offering in Europe in the [...]