Towers Watson lifts forecast as revenues rise May 7, 2012 PROFESSIONAL services company Towers Watson posted better-than-expected quarterly results yesterday on higher revenue from its benefits segment, and raised its full-year profit outlook. Towers Watson, whose London offices specialise in reinsurance, reported third-quarter earnings of $68.2m (£42.1m), down from $69.2m a year earlier. Revenue rose four per cent to $901.5m. In the firm’s benefits business, [...]
Sales rise but expansion hits Regus’ profits May 3, 2012 REGUS, the flexible office space provider, yesterday posted strong sales growth despite taking a hit from its rapid expansion plan. Turnover in the first quarter grew by 8.8 per cent to £299.3m, boosted by a £26 increase in revenue per occupied workstation to £1,883. Regus said its mature business – comprising the centres opened before the [...]
WANTED: A TWEET-MEISTER FOR GOLDMAN May 1, 2012 GOLDMAN Sachs, the investment bank that everyone loves to hate, is looking to change perceptions, at least on social media sites. Goldman is looking for a social media community manager, based at its New York office, who can create and maintain Facebook updates, Twitter posts and be a whizz at Linkedin group management. The successful [...]
US corporate results round-up May 1, 2012 Avon’s profit sinks as reps fall AVON reported a two per cent drop in quarterly sales yesterday after seeing the number of active sales representatives fall and the company dealt with higher costs. Avon, the world’s largest direct seller of cosmetics, also said net income fell 81.5 per cent in the first quarter, hurt by [...]
NAB to cut 1,400 UK jobs April 30, 2012 National Australia Bank will cut 1,400 jobs in the UK and take charges of $740m(£454.4m) after deciding it was too hard to sell or expand its UK banking business in a depressed market, it said as it flagged a record first-half cash profit. After a review of its UK unit, which comprises over 335 Clydesdale [...]
JOBS of the WEEK April 25, 2012 REAL ESTATE LAWYER HONG KONG HK$940k-HK$1.4m pa A leading US law firm is looking to hire a highlytalented lawyer to its real estate practice in Hong Kong. Candidates must have experience in property from a highly-regarded law firm. http://www.cityamcareers.com/job/7325 HEAD OF VALUATIONS CENTRAL LONDON £100k-£150k pa, plus benefits A top 10 practice in central London [...]
How to manage the web of social media April 25, 2012 SOCIAL media has revolutionised the way that companies communicate with their clients, allowing instant responses to customer needs. Whether via embedded instant messenger (IM) help on a customer query site or publicising your latest pension offering, social media can help your business. British retail banks are hardly known for their willingness to embrace change and [...]
CITY MOVES WHO’S SWITCHING JOBS April 24, 2012 DC Advisory Partners The corporate finance advisory firm has announced the appointment of Terry Huffine as executive director in its European consumer, leisure and retail team. Huffine joins after eight years with ABN AMRO and, following its acquisition, at the Royal Bank of Scotland, where he was a director on the consumer team. He also [...]
TIMELINE | CABLE & WIRELESS April 23, 2012 1860s Sir John Pender founds a number of British telegraph companies. 1928 Various radio and telegraph companies throughout the British Empire merge into Imperial & International Communications Limited, which becomes Cable and Wireless Limited in 1934. 1947 The Labour government nationalises Cable & Wireless. All its UK assets are integrated with those of the Post Office. [...]
LONDON REPORT April 22, 2012 UK investors are set for a busy week with a slew of earnings both here and on Wall Street, the release of Britain’s quarterly GDP rate and a decision from the Fed on the US Bank rate. Both the Nationwide Housing Prices report and Nationwide Consumer Confidence report are due out this week and today’s [...]