US indices group MSCI acquires property specialist IPD for £78m October 31, 2012 US INDICES group MSCI has agreed to buy Investment Property Databank (IPD), a private company that provides crucial information for the property industry, in a £78m deal. The sale will generate a huge windfall for IPD’s founders Rupert Nabarro and Ian Cullen, who set up the company 27 years ago. The pair will share £26m [...]
City Views | Do think Cameron’s coalition is on the right track to recovery? October 10, 2012 BILL BLYTHE GRESHAM COMPUTING No, because I think that they should be looking at investing in entrepreneurs, start-ups and young people – like apprenticeship schemes. Lots has been taken out of welfare but I think they need to be severe and take out more. NILESH HINDOCHA AVIVA INVESTORS We’re in a mess at the moment [...]
Raft of firms set to release figures as Bank debates if more QE needed November 4, 2012 THE biggest question for UK investors this week is whether the Bank of England’s Monetary Policy Committee (MPC) will opt for more quantitative easing. The decision, which will be announced on Thursday, comes after strong jobs and GDP data. “Strong third quarter GDP data suggested that underlying growth was slightly stronger than previously thought and [...]
ESPN may shut off TV channel after chief exits October 29, 2012 THE HEAD of ESPN’s European TV operations has quit the broadcaster, in a move that may pave the way for the company to shut down its UK sports channels from next summer. Jeroen Oerlemans, ESPN’s vice president in charge of TV in Europe, the Middle East and Africa, has recently stepped down without a successor [...]
ESPN may shut off TV channel after chief exits October 29, 2012 THE HEAD of ESPN’s European TV operations has quit the broadcaster, in a move that may pave the way for the company to shut down its UK sports channels from next summer. Jeroen Oerlemans, ESPN’s vice president in charge of TV in Europe, the Middle East and Africa, has recently stepped down without a successor [...]
Who’s switching jobs November 7, 2012 Deloitte Michael Lee has been appointed director of Deloitte’s analytics practice. He joins from Detica NetReveal, and is a specialist in using analytics to detect and prevent fraud and financial crime. HSBC Andy Clark has been appointed chief executive at HSBC’s UK asset management branch. He has worked for the bank since 2005, most recently [...]
Aviva: we’ll be the last to quit UK March 8, 2012 AVIVA has pledged its future to London, with chief executive Andrew Moss telling City A.M. that his firm will not follow the Prudential and consider a move abroad: “We’re here to stay. Trust me, if Aviva were to redomicile then you’d been turning the lights out in the City – because everyone else would have left first.” Speaking [...]
Aviva profits jump thanks to UK income March 8, 2012 INSURANCE giant Aviva beat expectations to announce a six per cent rise in operating profits to £2.5bn, driven by impressive earnings in its life insurance division. Chief executive Andrew Moss said his strategy of focusing the group on core products in just 12 key markets was paying off but singled out the British businesses for [...]
Insurers face £40m floods bill September 26, 2012 NORTHERN England and Scotland have been hit hard by flooding, leaving UK insurers facing a hefty bill of up to £40m for this week’s damage. Analyst Barrie Cornes at Panmure Gordon told City A.M. that RSA faces a bill of £12-£15m, Aviva £15-£20m and Legal & General around £3-£5m. This is on top of substantial [...]
Property firms turn to insurers for financing October 23, 2012 PROPERTY developers are turning to insurers for finance as banks become reluctant to lend, according to a report released yesterday. According to research by law firm DLA Piper, the amount of money lent by insurers in the form of UK commercial real estate (CRE) loans will almost double to £52bn over the next five years. [...]