After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Mobiles to be tapped by FSA April 22, 2010 THE City watchdog will try to push through tough new rules that would force firms to tap the mobile phones of traders as early as this year. The Financial Services Authority (FSA) believes records of mobile phone conversations will step up its battle against insider dealing. A consultation period ends on 14 June and the [...]
City watchdog is losing its battle against insider trading April 22, 2010 THE Financial Services Authority (FSA) is losing its fight against insider trading, according to a City survey. The report by the Chartered Institute for Securities & Investment will come as a blow to the FSA, which has stepped up its enforcement activity with a spate of arrests and big-money fines. Around 60 per cent of [...]
Phone tapping lowdown April 22, 2010 Q.Why do they want to tap traders’ mobile phones? A.The FSA sees a loophole in the system where traders can use mobile phones to illegally share confidential information. Q.Are phones not already tapped? A.Fixed line phones and email are currently recorded. The new legislation will encompass mobile calls, text messages and instant messaging. Q.How many [...]
Persimmon sees its sales rise by a fifth April 22, 2010 HOUSEBUILDER Persimmon yesterday said sales were up by a fifth on last year despite a “backdrop of continued uncertainty” from the fledgling economic recovery and upcoming election. The FTSE 250 listed group reported total sales since the start of the year stand at £1.15bn in a trading update. The firm said weekly sales volumes remain [...]
Essar Energy heads for $11bn valuation in City sharelisting April 22, 2010 ESSAR Energy yesterday revealed the share price range for its forthcoming listing that will raise around $2.5bn (£1.63bn) in one of London’s largest ever IPOs. New shares in Essar Energy, which will be 75 per cent owned by its Indian parent, will be priced at between 450-550p. At the top end of the range, Essar [...]
Virgin’s debt is restructured April 22, 2010 Virgin Media yesterday announced the completion of a three-year refinancing programme it says has “fundamentally changed the capital structure” of the business. Over three years, Virgin has switched its debt mix from near-term to longer-term bond debt, which it says is at “attractive” rates. The company has issued $1bn of convertible notes, £1.7bn of senior [...]
CenturyTel and Qwest to merge April 22, 2010 CENTURYTEL said yesterday it will buy Qwest Communications in a $10.6bn stock deal, combining the third and the fourth biggest US landline phone companies to help them compete more aggressively and cut costs. CenturyTel offered a 15 per cent premium to Qwest’s market price, and expects the acquisition to add to free cash flow right [...]
Ryanair chief in U-turn over ash payments April 22, 2010 RYANAIR yesterday backtracked on a controversial statement by chief executive Michael O’Leary which said the Irish budget airline would not reimburse stranded passengers for hotel expenses. Instead the budget airline boss said Ryanair would comply with European Union regulations and award compensation to passengers stranded by the volcanic ash cloud. A statement from the airline [...]
CITY VIEWS: WHO SHOULD BE HELD ACCOUNTABLE FOR COMPENSATION OF FLIGHTS? April 22, 2010 ANDREW STEPAN | TPP RECRUITMENT “I don’t think you can blame the government for a volcano erupting. Airlines shouldn’t be held accountable either. If you buy a ticket for a flight, you should buy travel insurance.” CHRIS BRAVERY | CMA SHIPS “The government should be held accountable. They waited until the Monday morning to do [...]
Carlyle to invest in aviation April 22, 2010 US private equity firm Carlyle Group intends to invest $600m in a joint venture with RPK Capital Management that will buy commercial aviation assets around the world. Carlyle and Chicago based RPK Capital, which specialises in aviation investments, have set up a new company that will purchase over $1bn of assets. RPK, which will manage [...]