After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
City Moves for 22 August 2014 | Who’s switching jobs August 21, 2014 RBC Global Asset Management The asset management arm of Royal Bank of Canada has appointed Clive Brown as chief executive and managing director of RBC Global Asset Management International. He joins from JP Morgan Asset Management, where he was global chief operating officer and chairman of Asia. Brown has also previously worked as chief executive [...]
Reorganising Kazakhmys beats forecasts August 21, 2014 KAZAKHMYS, the mining company with major operations in Kazakhstan, saw its earnings drop in the first half, but still handily beat analysts expectations. It is now driving forward a major restructuring that will see it divest a wide range of assets as it seeks to transform its fortunes. A shadow was cast over the results, [...]
Analyst Views: What do you think of the Kazazakmys’ results and restructuring plans? August 21, 2014 AMOS FLETCHER | BARCLAYS Underlying results were good, as earnings beat our estimates by 21 per cent. The key driver of the beat was the gross cash cost performance, with impressive cost control. This came despite slightly lower-than-expected copper sales volumes. The emerging new company, KAZ Minerals, is an interesting investment proposition. CAILEY BARKER | [...]
Premier Oil production soars as UK fields output up 50 per cent August 21, 2014 Production rose sharply at oil and gas explorer Premier Oil in the first half of 2014, with the company boosted by increased flow in the UK up more than 50 per cent. Premier Oil saw production rise to the equivalent of 64,900 barrel a day on average in the year to June 30th, up 11 [...]
Salesforce announces huge revenue increase August 21, 2014 CLOUD computing software giant Salesforce.com yesterday reported better-than-expected quarterly revenue, helped by an increase in demand for its web-based sales and marketing software. The San Francisco-based company raised its full-year profit and revenue forecast. Spending on enterprise resource management (ERM) and customer relationship management (CRM) has been particularly strong. Research firm IDC expects ERM and [...]
Best of the Brokers for 22 August 2014 August 21, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BOVIS HOMES UBS has kept its “buy” rating, raising the target price to 1,000p from 965p. The broker notes Bovis is gearing up for material volume growth, aiming to reach 5,000 to 6,000 units over the five years or so, almost double the [...]
London Report: Reports of new Pfizer Astra bid pushes up FTSE August 21, 2014 BRITAIN’S top equity index yesterday rose on gains in healthcare stocks, led by Astrazeneca on speculation that previously rejected US suitor Pfizer might make another bid. The blue-chip FTSE 100 index closed up 22.18 points, or 0.3 per cent, at 6,777.66 points. Astrazeneca rose three per cent to 4,411.50p, while domestic rival Glaxosmithkline advanced 1.2 [...]
New York Report: Dow passes 17k as S&P breaks new record August 21, 2014 US STOCKS ended higher yesterday, with the S&P 500 at a record after a flurry of positive economic data, as investors hoped for signs from an annual meeting of central bankers that interest-rate hikes are not imminent. The Dow Jones industrial average rose 60.36 points, or 0.36 per cent, to rise above 17,000 points again. [...]
Rosneft’s $2bn deal with Vitol called off as sanctions take their toll August 21, 2014 A week after Russia's largest oil company was forced to go cap in hand to the Kremlin, Rosneft's deal with Vitol is off. Sanctions aimed at restricting the company's ability to raise long-term capital seem to have ruined the prospect of an agreement, which according to Financial Times sources, is officially shelved, or even dead. Rosneft is [...]
Spotify serendipity: music streaming service rolls out map showing the social side to music August 21, 2014 Spotify has rolled out a new feature: a map that shows two people on the planet listening to the same tune, at the same time. As you watch, the map dances from place to place, offering audio glimpses of the tracks the pairs are listening to. You can click to decide to continue listening at [...]