Experian buys Brazil bureau October 23, 2012 UK CREDIT checking firm Experian yesterday agreed to pay a consortium of banks $1.5bn (£940m) to take full control of São Paulo-based data provider Serasa. The blue chip company, which took a 70 per cent stake in Serasa in 2007, agreed to take a further 29.6 per cent plus a 0.4 per cent cash adjustment [...]
FTSE 100 down while Trinity Mirror tumbles October 23, 2012 The blue chip index was down in early trading today, while Trinity Mirror sustained heavy losses on the FTSE All-Share. The newspaper publishing group lost 11.5 per cent in early trading, after four people filed legal claims accusing the group’s newspapers of hacking phones. Defence equipment firm Chemring fell 7.6 per cent, as it announced [...]
Europe will become ever less relevant as century progresses October 23, 2012 ONCE again, the political establishment is debating Europe, and what Britain’s place in it should be. To me, the answer is straightforward: Europe will become increasingly irrelevant to the global economy as the century progresses, a tragic development which will see one of the world’s great civilisations increasingly marginalised culturally and geopolitically. Those who still [...]
Europe will become ever less relevant as century progresses October 22, 2012 ONCE again, the political establishment is debating Europe, and what Britain’s place in it should be. To me, the answer is straightforward: Europe will become increasingly irrelevant to the global economy as the century progresses, a tragic development which will see one of the world’s great civilisations increasingly marginalised culturally and geopolitically. Those who still [...]
FTSE 100 down as Japanese exports fall October 22, 2012 The leading share index fell back this morning, as weak economic data from Japan weighed on sentiment. Sausage skin maker Devro led the poor performers this morning, shedding 7.74 per cent as it issued a profit warning. Brewer Punch Taverns fell 4.41 per cent, while software development firm Northgate dropped 4.4 per cent. Trading software [...]
FTSE 100 down as Japanese exports fall October 22, 2012 The leading share index fell back this morning, as weak economic data from Japan weighed on sentiment. Sausage skin maker Devro led the poor performers this morning, shedding 7.74 per cent as it issued a profit warning. Brewer Punch Taverns fell 4.41 per cent, while software development firm Northgate dropped 4.4 per cent. Trading software [...]
Nationwide is mulling its first bank purchase October 22, 2012 THE NATIONWIDE building society is considering buying the 316 RBS branches which are up for sale, joining a small field of potential investors. The building society has expanded by merging with other mutuals over the years – but it is not thought that a building society has ever before acquired a bank, or such a [...]
City Moves | Who’s switching jobs October 21, 2012 KPMG Michael Anderson has been appointed to the newly-created role of head of direct tax litigation at KPMG in the UK. He joins from Dorsey & Whitney, the US law firm, where he was a partner in its tax litigation team. Anderson has specialised in the area for 10 years. RBC Wealth Management The wealth [...]
FTSE 100 weighed down by Aggreko October 19, 2012 The leading share index slipped on Friday, weighed down by banks and miners. Power supplier Aggreko fell back 7.38 per cent as it said this morning its full-year profits would be hit by unfavourable exchange rates and higher bad debt provision. Housebuilder Redrow fell 7.14 per cent as its founder Steve Morgan dropped its bid [...]
Misselling set to cost banks £12bn October 18, 2012 BARCLAYS put aside another £700m yesterday to deal with soaring payment protection insurance (PPI) misselling claims, as analysts warned that other banks would also have to increase their provisions. Analysts expect the four biggest banks to have set aside an additional £2.2bn over the last quarter to cover PPI misselling, taking the total for the [...]