Why London’s world-beating position in global insurance is now under threat January 7, 2015 A new piece of research into the competitiveness of the London insurance market, released by the London Market Group late last year, confirmed many existing fears. The capital’s position as a world leader in insurance is under threat, and it’s critical that we confront – with the support of the UK government – the challenges [...]
UK pension plans still haunted by deficits despite stock rally January 6, 2014 THE BLACK hole at the heart of Britain’s corporate pension schemes increased by £25bn last year despite better returns from the stock market and higher payments by companies, fresh figures show. The difference between the amount of cash that FTSE 350 company pension schemes have to pay pensions and the value of pensioner payouts went [...]
London Report: FTSE’s winning run ends as Tate & Lyle share price sours February 13, 2014 BRITAIN’S top share index fell yesterday after six straight days of gains, its longest rising streak of the year, led down by food ingredients firm Tate & Lyle and engineer Rolls Royce, which gave disappointing outlooks. Of FTSE 100 companies that have reported quarterly earnings so far, 39 per cent have missed profit expectations. The [...]
Standard Chartered chooses to keep KPMG as its audit provider January 27, 2014 STANDARD Chartered will keep KPMG as its auditor after hearing pitches for the contract from other so-called Big Four accountants. The bank, which put its audit contract out to tender in August, is expected to reconfirm KPMG in the post in its annual report in spring. KPMG has checked StanChart’s books for around 40 years. [...]
London Report: FTSE climbs after Persimmon delivers a set of good results August 19, 2014 BRITAIN’S top share index yesterday climbed to its highest closing level in three weeks, bolstered by housebuilding stocks after robust results from Persimmon. The UK blue-chip FTSE 100 index ended up 38.06 points, or 0.6 per cent, at 6,779.31 points. Persimmon delivered a 57 per cent rise in pretax profit and said it was trading [...]
Banks lead the pack as FTSE bounces back – London Report October 6, 2014 GAINS in major bank stocks led Britain’s benchmark equity index higher yesterday, and troubled supermarket group Tesco rose after new board appointments. The blue-chip FTSE 100 index, which fell to its lowest closing level in nearly a year last week, closed up by 0.6 per cent, or 35.74 points, at 6,563.65 points. Among the financials, [...]
Profit warnings from UK’s quoted firms up 30 per cent at end of 2013 January 26, 2014 THE NUMBER of UK-quoted companies issuing profit warnings soared by 30 per cent in the last quarter of 2013, as fears of a slowdown in global growth dented earnings, according to EY research released yesterday. UK profit warnings fell to a three-year low earlier in the year but 73 warnings were issued in the final [...]
London Report: Strong gains from miners push FTSE close to 2013 peak January 16, 2014 TOP shares steadied near last year’s peak yesterday, propped up by steep gains from miners on optimism over the global economy and upbeat analyst comment. Miners added the most points to the FTSE yesterday. The FTSE 350 Mining Index rose 3.2 per cent while Rio Tinto firmed 2.5 per cent after reporting big increases in [...]
British business still too weak to fund pensions December 8, 2013 BRITAIN’S biggest businesses are struggling to support their defined benefit (DB) pension schemes despite rising stock markets and renewed confidence in the economy, a study out today reveals. The ability of FTSE 350 companies to fund their DB schemes – a type of pension plan tied to final salary – has failed to rally alongside [...]
Persimmon share price up as housing market demand boosts profits August 19, 2014 Persimmon became the latest housebuilder to announce another leap in profits yesterday as rosier housing market conditions helped lift sales rates and prices in the first half of the year. Britains’s largest housebuilder completed 6,408 property sales in the six months to 30 June, up 28 per cent on last year. The average selling price [...]