Investigation into GM’s pension fund October 28, 2005 Loss-making General Motors, the world’s largest carmaker, is being investigated by regulators over its pension accounting and the insurance regime at its finance arm. The powerful American regulator the Securities and Exchange Commission (SEC) has issued subpoenas against GM which centre on its pension liabilities with car parts maker Delphi, which declared bankruptcy earlier this [...]
A week in the life: Jacqueline Kerr October 28, 2005 Head of mutual funds and life funds investment at Standard Life Over the last two years we have been bullish about equities. They have been on a good run and that reflects the amount of equities we hold in comparison to our other assets. One of my roles is to divide up the asset allocation [...]
Do the banks have a Plan B? October 28, 2005 Now that consumer spending is slowing down, the banking sector needs to look for new sources of growth. British banks have investors worried. Not because of their current profitability, which is healthy, but because a slowdown in the economy may hit this industry harder than most. The banking sector still continues to make profits. In [...]
Cyprotex gets peer approval October 28, 2005 Marianne Barriaux reports on how the technology and information company, which is trying to test drugs by computer instead of on humans and rats, has had a boost with the news it is to have its results published Cyprotex, the drug discovery technology and information company, has received peer-approved publication of its “virtual human and [...]
Smith & Nephew hit by rejection October 28, 2005 Europe’s largest seller of orthopaedic devices saw its shares tumble to a two-year low after it abandoned producing a key leg ulcer treatment when America turned it down, but its sales are up. Smith & Nephew has abandoned production of a key leg ulcer treatment after it failed to win approval for the American market. [...]
Interregnum on up October 28, 2005 AIM-quoted technology merchant bank Interregnum said that its group turnover soared 112 per cent on last year’s results to £7.98m. The company also said that pre-tax losses were down 34 per cent to £430,000 compared to £650,000 in its 2004 financial year. Interregnum is based in Britain and America and specialises in investment advice in [...]
Hands tied to deal October 28, 2005 Guy Hands has finally taken control of East Surrey Holdings, the utility company he was forced to purchase by the Takeover Panel. Hands’s Terra Firm fund made a 525p-a-share offer for Northern Ireland gas distributor East Surrey in April, but then tried to get out of the deal when the country’s gas regulator said it [...]
Honda profit accelerates October 28, 2005 Japanese car and motorcycle maker Honda reported an industry-beating increase of just over 1 per cent in its first-half profits to 244.4bn yen (£1.2bn), buoyed by higher global vehicle sales. Turnover grew by 10 per cent to a record 4.6trn yen, as global vehicle sales rose 6.9 per cent to 1.6m units. The increase in [...]
Communisis in new talks of a takeover October 28, 2005 Printing company Communisis yesterday confirmed that it was in its second set of takeover talks this year. The Leeds-based group said the discussions are at an early stage with what it described as “a small number of other parties”. But, the group said, “it is far from certain that they will lead to an offer [...]
Blacks finding the long dry spell is a dampener October 28, 2005 Outdoor gear specialist Blacks Leisure said sales of waterproof clothing and footwear had dried up as Britain enjoyed one of “longest dry spells on record”. The retailer, which also owns the Millets chain, said sales had tumbled in the past eight weeks in “abnormally dry conditions. It has been an average of three degrees warmer [...]
