After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Law firms up headcount outside UK April 26, 2010 LINKLATERS has become the latest commercial law firm to announce partner promotions, as the City’s top law firms boost foreign office numbers. The UK’s largest law firm by revenue promoted 14 associates to the partnership rank, with the number of promotions marking a decrease on the previous year when 18 made the grade. “These promotions [...]
Spice telecoms unit snapped up in £33m Gresham-backed management buyout April 26, 2010 Utility support services firm Spice will sell its telecoms business for £32.8m, it said yesterday. Private equity firm Gresham has backed a management buyout to snap up the firm’s Team Telecom Group (TTG) unit. Mike Norfield, chief executive of TTG said: “This is a very exciting time for TTG. We have invested heavily over the [...]
Canaccord ties up £185m acquisition of Genuity April 26, 2010 CANACCORD Financial yesterday completed its $285.9m (£185m) acquisition of Canadian advisory firm Genuity Capital Markets, a move the firm expects will boost its business across Canada, North America and the UK. Canaccord, which operates London-based broking subsidiary Canaccord Adams, has paid 26.5m of its own shares for Genuity, in addition to $30m of cash and [...]
BEST OF THE BROKERS April 26, 2010 SKANSKA Standard & Poor’s Equity Research (S&P) has lowered a recommendation of Skanska to “hold” from “buy” ahead of the construction group’s first quarter results. S&P says their 2010-11 estimates are lower following consensus downgrades, based on a harsh winter. S&P says Skanska provides the best value among its Nordic peers. BBVA Evolution Securities reiterates [...]
Sorrell: Advertising spend has stabilised April 26, 2010 SIR Martin Sorrell, boss of the world’s largest advertising agency WPP, said the worst appears to be behind the industry after revenues “stabilised” in the first quarter of this year. Speaking at the Numis media conference, Sorrell said he was “relieved” that the industry had levelled out after “staring into the abyss” during 2009. He joked [...]
CITY MOVES | WHO’S SWITCHING JOBS April 26, 2010 PricewaterhouseCoopers Bridget Jackson has joined the accountancy firm as director of corporate sustainability, leading the firm’s internal environmental, community and corporate sustainability strategy. Jackson has over twenty years of experience in international business and strategy consulting. She joins from management consulting firm Accenture. She will report directly to managing partner Richard Collier-Keywood. Resolution The investment [...]
Businesses fear impact of hung parliament April 26, 2010 COMPANIES are worried about the impact of a hung parliament on their businesses, a study has revealed. The British Chambers of Commerce said that 65 per cent of a poll of 300 businesses were either “concerned” or “very concerned” about the prospect of a hung parliament. It found that most businesses feared a VAT hike [...]
Dividend payments down at UK firms April 26, 2010 BRITISH companies paid out less in dividends in the first quarter of the year than they did a year ago, new figures have revealed. A total of £13.6bn in dividends was paid during the first three months of 2010 – down 2.5 per cent compared with a year ago, according to Capita Registrars. Paul Taylor, [...]
Bank of Ireland confirms €3.4bn rights issue April 26, 2010 BANK of Ireland has unveiled plans to raise €3.4bn (£2.9bn) in order to help it recover from financial crisis The lender said it would launch a rights issue to try to shore up its position. The bank, the Republic of Ireland’s largest, said it hoped to raise the rest of the money by placing shares [...]
Carphone Warehouse raises profit forecast April 26, 2010 CARPHONE Warehouse has raised its full-year profit guidance for the third time in six months after a surge in demand for smartphones. The group said it expected strong growth for the rest of the year, particularly with its joint venture with Best Buy Mobile business in the US. It said it expected net profit for [...]