After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Fabulous Fab keeps his cool in face of grilling April 27, 2010 Fabrice Tourre, the London-based banker at the centre of a $1bn (£650m) fraud investigation, appeared calm and collected as he faced the grilling of his life in front of the senate sub-committee. He seemed unaffected by the barrage of abuse fired at him from a small army of hecklers intent on unsettling him. The Frenchman [...]
Man behind Pru break-up plot unmasked April 27, 2010 PATRICE Collette, an investment manager with US-based Capital Research and Management, has emerged as the man at the centre of a plot to break up insurer Prudential. City A.M. understands Collette, who works from Geneva, is the fund boss at Capital Research who held talks with third parties including life company Aviva with a view [...]
Own up over cuts, says IFS April 27, 2010 THE MAIN political parties are preventing voters from making an “informed choice” at the general election by refusing to explain how they will reduce the country’s yawning £163bn budget deficit, according to a leading economic think-tank. The Institute of Fiscal Studies (IFS) said repairing the parlous public finances will dominate the next government’s agenda, but [...]
ELECTION2010 April 27, 2010 Tories ahead in donations The Conservatives have yet again received the highest amount in donations in the second week of campaigning ahead of the general election on 6 May. Between 13 and 19 April the Tories received £2,2m in donations worth over £7,500, Labour £1,49m and the Liberal Democrats £120,000. Tories keep 4 point lead [...]
Lloyds back in profitability April 27, 2010 LLOYDS Banking Group roared out of the red over the first three months of the year as provisions for bad debts fell, raising market expectations that the group will post a profit at the end of the year. Consensus analyst forecasts before yesterday’s first-quarter results were for Lloyds to report a small loss of almost [...]
Deutsche Bank unveils record investment banking profits April 27, 2010 DEUTSCHE Bank smashed expectations yesterday by reporting record profits at its investment banking arm, as it deflected speculation over its role in mortgage deals similar to the one over which Goldman Sachs is facing civil fraud charges. Deutsche made a pre-tax profit of €2.8bn (£2.43bn) over the first quarter, 55 per cent higher than in [...]
ANALYST VIEWS: WHAT IS THE OUTLOOK FOR LLOYDS BANKING GROUP NOW? April 27, 2010 JOE DICKERSON | EXECUTION NOBLE The profitability we predicted is delivering a quarter or so earlier than expected, which is encouraging. Nearly every element is moving in the right direction and Lloyds could see material pre-provision profit growth this year. NIC CLARKE | CHARLES STANLEY Lloyds has reached profitability earlier than expected, but we remain [...]
BP profit up but investors fret over oil spill tragedy April 27, 2010 BP failed yesterday to calm investor fears about the oil spill in the Gulf of Mexico, despite recording mammoth profits. The oil giant’s profits hit $5.6bn (£3.6bn) in the first quarter of 2010, more than double the level of last year, thanks to higher oil and gas prices. The underlying results were well ahead of [...]
Clear-up overshadows clean-up April 27, 2010 THE BIG clear-up that will have to take place in the Gulf of Mexico is overshadowing the fact that BP cleaned up in the first quarter. It is not only higher crude prices that have bolstered profits. The oil major reduced administrative costs by 24 per cent quarter-on-quarter and by 10 per cent on the same period [...]
Imperial Tobacco sees first half profits roll in April 27, 2010 IMPERIAL Tobacco has seen first-half profits rise by 16 per cent despite recession-hit smokers ditching high-end brands in favour of roll-ups. Profit rose to £1.18bn in the six months to the end of March at the fourth biggest cigarette maker in the world, whose brands include Lambert & Butler. The rise came despite a 3.7 [...]