Alan Brown News
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Rentokil Initial Plc rose the most in more than two years after disposing of its unprofitable City Link express delivery business in a transaction that cost the pest-control provider 40 million pounds ($62.1 million).
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Rentokil Initial Plc Chief Executive Officer Alan Brown said there’s scope to narrow the service provider’s focus to pest-control and facilities management once an overhaul is completed and financial markets recover.
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U.K. stocks declined from their highest level since December 2007, paring the fifth week of gains for the FTSE 100 Index, as European leaders met in Brussels for a second day.
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European stocks advanced for a fourth week, the longest winning streak in almost three months, as the region’s leaders eased constraints on national budgets and U.S. retail sales and jobless-benefit claims pointed to a recovery in the world’s biggest economy.
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Half a century after a U.S. tax on bond purchases spawned the $3.7 trillion-a-year Eurobond market, Europe’s plan to impose a levy on financial transactions risks triggering a similar flight.
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Alan Brown, chief investment officer at Schroders Plc, talks about the European debt crisis. He speaks on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg)
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Schroders Plc, the U.K.’s biggest fund manager by assets, said its chairman and chief investment officer will step down after performance fees fell by almost half and net inflows dropped 88 percent.
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Schroders Plc, the 200-year-old U.K. asset manager overseeing $284 billion, will enter 2012 with the lowest amount of equities allowed in some funds as it forecasts a worse-than-predicted recession in the euro area.
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U.S. stocks rallied, giving the Standard & Poor’s 500 Index its biggest two-day advance of the year, as Greece moved closer to completing its debt swap.
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Rentokil Initial Plc Chief Executive Officer Alan Brown has taken over the day-to-day running of City Link in a bid to stem losses at its parcel-delivery business.
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