FTSE edges up as Lloyds gains May 1, 2012 The FTSE 100 clawed back some lost ground in early trading with Lloyds among the top gainers after quarterly results that matched forecasts. London’s blue-chip index ended April in negative territory yesterday – its second consecutive monthly loss – as concerns rose over Spain’s economy and political tensions in Europe took their toll. Meanwhile UK [...]
UK manufacturing growth slows May 1, 2012 British manufacturing eked out growth in April as an economic slowdown in the euro zone curbed demand for goods made in Britain, a survey showed, raising the risk of a longer recession. The unexpectedly sharp slowdown will also fuel a debate over the chances of further monetary stimulus from the Bank of England (BoE), after [...]
Man Group says client outflows slow May 1, 2012 Man Group said clients pulled out less of their cash in the first three months of this year than in the previous quarter, raising hopes that the beleaguered hedge fund manager may soon stabilise its business after a dire past six months. The firm, whose share price has fallen by almost 60 percent since September [...]
Xstrata copper production dips May 1, 2012 Miner Xstrata, which is moving into the final stages of a record tie-up with commodities trader Glencore, posted a drop in first-quarter copper production as it prepares for the ramp up of key projects in the second half of the year. Xstrata, which said all its major projects were making good progress and remained on [...]
Lloyds warns of ‘long and difficult’ path to recovery May 1, 2012 Lloyds said it would set aside another £375m to cover compensation for people mis-sold insurance, while it faced a “long and difficult” path to recovery. Lloyds, 40-per cent owned by the government after a bailout during the financial crisis, said the increased provision reflected a rise in the volume of complaints received in February and [...]
BP profit falls as Gulf spill takes toll May 1, 2012 Oil najor BP reported a bigger-than-expected drop in profits despite an increase in crude prices, as production fell after it was forced to sell fields to pay for the Gulf of Mexico oil spill. London-based BP added it would continue its disposal programme, putting some smaller fields in the Gulf of Mexico on the block. [...]
FTSE losses limited by Aberdeen April 30, 2012 The FTSE 100 was solid this morning as Aberdeen Asset Management reported a bounce back in client funds, making it the top riser. Investors have been spooked by the Eurozone crisis, which has re-emerged with the debt woes of the likes of Italy and Spain again laid bare. London’s blue chip index has also been [...]
Qatar in investment with Barclays’ resource unit April 30, 2012 Qatar has signed a deal to co-invest $250m (£153m) with Barclays’ natural resources private equity investment unit, underlining the gas-rich Gulf state’s desire to plough some of its commodity wealth back into the sector. The investments in Barclays Natural Resources Investments’ portfolio companies will be done through Qatar Asset Management Company, a joint venture between [...]
NAB to cut 1,400 UK jobs April 30, 2012 National Australia Bank will cut 1,400 jobs in the UK and take charges of $740m(£454.4m) after deciding it was too hard to sell or expand its UK banking business in a depressed market, it said as it flagged a record first-half cash profit. After a review of its UK unit, which comprises over 335 Clydesdale [...]
Aviva boss waives pay rise April 30, 2012 The chief executive of insurer Aviva, Andrew Moss, has waived his 2012 salary increase as part of a review of its executive pay policy launched in response to pressure from shareholders. The review will look at whether senior executives’ pay is justified by shareholder returns, and will also examine how much Aviva compensates executives who [...]
