Best of the brokers January 21, 2013 ADMIRAL GROUP Goldman Sachs yesterday upgraded Cardiff-based insurer Admiral from “neutral” to “buy”, sending the company’s share price up five per cent. The banking giant said the stock had underperformed over the last six months due to “softening premium rates and regulatory intervention” but it now presents an investment opportunity, as there is “potential for [...]
Bumper year at consumer care unit helps boost Croda results February 26, 2013 SPECIALITY chemicals group Croda posted a jump in pre-tax profit over the full year, boosted by a bumper performance from its consumer care division. Pre-tax profit at Croda, which counts Procter & Gamble and Unilever among its customers, rose by 6.6 per cent to £253.2m over the 12 months, on sales 2.3 per cent higher [...]
BP veteran Byron Grote set to join board of Anglo American February 13, 2013 MINER Anglo American has appointed BP board member Byron Grote as a non-executive director. The appointment of Grote, who announced last week that he was to step down as a senior board member of BP following 33 years with the oil giant, will be proposed to shareholders at Anglo’s AGM on 19 April. He will join [...]
Slower growth in new markets knocks Nestle February 14, 2013 NESTLE, the world’s biggest food company, sees no respite this year from a tough trading environment after sales growth undershot rival Unilever last year as emerging markets like Asia slowed. Nestle’s 2012 underlying sales grew 5.9 per cent last year to SFr92.2bn (£64.6bn), the firm said yesterday. The figure is in line with a consensus [...]
City Moves for 26 February 2013 | Who’s switching jobs February 25, 2013 Co-operative Group The mutual business has announced the appointment of Rebecca Skitt as human resources director. Skitt has over 20 years’ experience, most recently as head of human resources in Barclays’ global retail and business banking division. She has also held senior roles at Unilever. Jones Day Karim Mahmud has joined the law firm as [...]
New London head at Baker & McKenzie January 22, 2013 PARTNERS at City law firm Baker & McKenzie have chosen intellectual property partner Paul Rawlinson as the next head of the London office, replacing Gary Senior who will step down this summer after 10 years in the role. Rawlinson, a Bakers lifer who joined the firm as a trainee in 1986, is serving his second [...]
Property firm Hammerson hires Sainsbury’s head as chairman January 14, 2013 DAVID Tyler, the chairman of Sainsbury’s, is to take on another FTSE 100 role, after it was announced yesterday he will replace John Nelson as chairman of property giant Hammerson. Tyler, who has also been a non-executive director at luxury group Burberry for more than a decade, will join the board with immediate effect on [...]
Hargreaves Lansdown lifts FTSE 100 February 6, 2013 The FTSE 100 pushed back over the 6,300 level this morning, as investment manager Hargreaves Lansdown topped the index, rising more than seven per cent. This morning the company reported robust growth, with revenue up almost a quarter in the six months to December and pre-tax profit up 30 per cent over the period. “Customer [...]
Unilever set to axe 800 jobs and close four British plants June 14, 2012 ABOUT 800 British jobs will be lost after consumer goods giant Unilever said it would close four plants. The firm, which produces brands including PG Tips tea, Ben & Jerry’s ice-cream and Brylcreem, will move some jobs to India and to its historic home of Port Sunlight on Merseyside. It has announced plans to close its hair care [...]
What the other papers say this Morning December 12, 2012 FINANCIAL TIMES Steel chief Mittal upbeat on US growth US manufacturing is poised to reap the benefits of cheaper energy, propelling the world’s largest economy into a new growth phase, says Lakshmi Mittal, chairman and chief executive of ArcelorMittal. Brussels backs Hutchison Orange deal Europe’s top competition authority approved the acquisition of France Telecom’s Orange [...]