A round-up of today's other business news in brief
Hibernian rebranded
Hibernian Investment Managers will be rebranded as Aviva Investors from today. The move is part of a global rebranding of Aviva's asset management businesses.
Aviva Investors will employ 1,100 staff in 21 locations around the world and will manage over €297 billion. Aviva, the world's fifth largest insurer, says it is investing in its asset management business over the next few years in the hope that it "significantly increases" its contribution to group profit.
Irish tax regime attracts WPP
WPP, the world's second biggest advertising and marketing group, will this week announce it is quitting Britain, probably for Ireland, because of changes to the Britain's tax regime, the Mail on Sunday has reported. WPP paid £204 million in tax last year but reckons the changes would add tens of millions to its British tax bill, the Mail said. - (Reuters)
Alitalia owners seeking to merge
Alitalia's prospective owners, with key unions finally backing their rescue plan, say they are shifting their focus to forming a tie-up with either Air France-KLM or Lufthansa and launching the new airline by November 1st.
Business consortium CAI struck an agreement early on Saturday with long-reluctant pilots broadly to back their rescue plan, in a breakthrough that lifted the threat of an imminent liquidation of Italy's largest airline. - (Reuters)
San Leon floats on AIM today
Dublin-based San Leon Energy, the oil and gas exploration company chaired by former Smart Telecom chief executive Oisín Fanning, is set to float on London's Aim market this morning.
The shares are to be placed at 37 pence, valuing the company at just over £100 million (€126 million).
San Leon has a portfolio of oil and gas exploration assets in the Netherlands, Morocco and the US.
It is receiving a 0.6 per cent production royalty from an offshore field in the Netherlands operated by Island Oil Gas Netherlands, which it says has a potential net income to the firm of $4 million.
San Leon has also begun a drilling programme in the DJ Basin in the US state of Nebraska.
