After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Fed offers hints at potential for early rate hike August 20, 2014 THE FEDERAL Reserve may raise interest rates at a faster pace than currently expected, if the country’s recent rapid growth continues. Minutes from the latest meeting of the US central bank’s Federal Open Market Committee (FOMC) said yesterday that “it might become appropriate to begin removing monetary policy accommodation sooner than they currently anticipated” if [...]
Carillion gives up on unwilling Balfour Beatty August 20, 2014 IT WAS a case of third time unlucky for Carillion yesterday, as plans for the ambitious mega-merger between it and Balfour Beatty lay in taters. Carillion gave up its fruitless hunt for a deal yesterday afternoon following a third rejection from an unswayable Balfour Beatty. Markets expressed their disappoint as Balfour Beatty shares dived on [...]
Bank of America set for biggest settlement since 2008 financial crash August 20, 2014 Bank of America is reportedly set to pay out $17bn (£10.2bn) to US authorities and in consumer relief, in a bid to settle an investigation into sales of mortgage-backed securities before the 2008 crisis. The agreement with US regulators is the largest of any yet to emerge from the crash. According to the AP news [...]
Glencore share price rises as mining giant gives $1bn buyback to shareholders August 20, 2014 Mining and commodities giant Glencore kept to its commitment to reward shareholders as it announced a $1bn share buyback yesterday, with shares rising on the news and strong first-half results that saw its profits rise above expectations. The Switzerland based firm, founded in 1974, saw its underlying profit rise by eight per cent to [...]
Analyst Views: What do you make of Glencore’s results and major share buyback? August 20, 2014 MARC ELLIOT | INVESTEC With the key share buyback to return cash to shareholders, we note Glencore is the first of the diversifieds to make such a firm commitment. Operationally, marketing activities put in a solid performance, marginally ahead of expectations, as did industrial activities. CHRISTOPHER LAFEMINA | JEFFERIES Glencore reported slightly better-than-expected financial results [...]
Hardware keeps HP growing in second quarter August 20, 2014 COMPUTER colossus Hewlett-Packard (HP) last night reported an uptick in revenues during the second quarter of the year, with demand for hardware helping to keep the company growing. Net revenue rose by one per cent during the three month period, when compared to the same quarter last year, climbing to $27.6bn (£16.63bn). Demand for personal computer [...]
Profile: Balfour Beatty’s chairman Steve Marshall August 20, 2014 Balfour Beatty’s chairman Steve Marshall has had a lot of practice in fighting tough battles and working to turnaround businesses. But, following his trenchant rejection of Carillion’s bid proposals, he knows he has a lot to prove to many of his group’s shareholders who would have quite liked to have at least had the chance [...]
Marshall Plan needs more than a cash boost – Bottom Line August 20, 2014 ANTHONY Gutman, the Goldman Sachs banker, is something of a high-flyer. Having worked on several of the biggest deals of 2014, his summer job has been to advise Balfour Beatty over the proposed merger with Carillion. This may have been an intriguing situation to manage at first, back when the chairmen of the two construction [...]
UK homeowners brace for interest rate hike with fixed mortgage payments August 20, 2014 Most homeowners in the south east are worried about the impact of an interest rate hike in the next 12 months, a Halifax study shows today. However, increasing numbers are preparing for the increase by fixing their mortgage payments. Halifax found 53 per cent of people in the south east were concerned about rates, while [...]
Mortgage lending surges again despite housing market wobble August 20, 2014 MORTGAGE lending hit its highest level in six years in July, industry data showed yesterday, dampening worries that the housing market was slowing down. Banks and building societies gave out £19.1bn in home loans last month, up 15 per cent compared with July 2013. That figure is seven per cent higher than the level just one [...]