Tullett Prebon cuts more jobs as it waits for trading recovery May 10, 2012 THE WEAK global trading market has forced interdealer-broker Tullett Prebon to cut another 60 jobs. Terry Smith’s firm said it has cut 140 jobs this year, rather than the 80 redundancies it had pledged in March. Tullett, which posted revenue of £305m for the four months to April, flat on last year, said two thirds [...]
IHG: still room at the Inn for the Olympics May 9, 2012 INTERCONTINENTAL Hotels Group (IHG) has said it continues to see “strong demand” in London ahead of the Olympics, as the world’s largest hotel operator posted better than expected first quarter profits. Chief financial officer Tom Singer said roughly 20 per cent of the rooms it was obliged to contract to Locog, the Olympic Games committee, [...]
Broadgate Circle to get makeover May 8, 2012 The owners of the Broadgate estate in the City have lodged plans to overhaul its main shopping area, in a move that could revive last year’s battle to preserve the area’s post-war architecture. The developer British Land and private equity firm Blackstone said yesterday they aim replace some of the existing office space around Broadgate [...]
Disney beats earnings forecasts thanks to theme parks and TV May 8, 2012 WALT Disney said last night that its quarterly earnings have risen 21 per cent, as the company posted growth at its media networks such as ESPN and at its theme park business. Disney reported net income of $1.1bn (£681m) for the fiscal second quarter, beating expectations. Revenue rose six per cent to $9.63bn, with a [...]
Asian growth boosts profit at Deutsche Post May 8, 2012 Deutsche Post DHL said it was upbeat on the rest of the year yesterday after new contracts and demand for express delivery services in Asia helped it beat expectations for sales and profit in the first quarter. “There is still very healthy growth [in Asia] and we are profiting from that because we are still [...]
CITY MOVES WHO’S SWITCHING JOBS May 8, 2012 Barclays Sharon Quinlan has been appointed head of structured property, London within Barclays’s debt finance team. She joins from Bank of Ireland, where she was head of business banking and responsible for running its UK commercial banking franchise. She takes over from Richard Payne, who will stay on as a consultant. PMB Holdings Ed Jones [...]
A Bank of Britain is the best way to build a Big Society May 8, 2012 HARD economic times call for bold measures. With evidence that the UK is back in a technical recession, we propose the creation of a Bank of Britain. This would be a citizen-focused bank, designed to advance the Big Society. The government has already launched Big Society Capital, with capital mostly provided by the big four [...]
Providing the intelligence behind the 2012 London Olympic Games May 8, 2012 COUNTDOWN TO THE LONDON 2012 OLYMPIC GAMES 79 DAYS TO GO Q What was your brand’s primary reason for being involved with the Games? A London 2012 offers us a great platform to demonstrate how Nielsen provides information and insights to organisations to give them a comprehensive understanding of global consumers and markets. In addition [...]
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 [...]