BLUEGOLD SOARS ON RISING CRUDE TO RETURN 12.5PC April 12, 2010 BLUEGOLD Capital, the energy hedge fund run by Dennis Crema and Pierre Andurand, benefited from the rally in oil futures to return 12.5 per cent to investors in March. The $1.7bn (£1.1bn) fund has recovered from a rocky patch at the start of the year to generate a cumulative 1.5 per cent in the first [...]
BEST OF THE BROKERS April 12, 2010 BARCLAYS Seymour Pierce has issued a “sell” recommendation on Barclays, noting that during the last seven years, the bank has grown income by 18 per cent, while avoiding many of the toxic assets and poorly timed acquisitions. Barclays Capital’s top line could be 33 times the revenue of the UK retail bank, which the broker [...]
CITY MOVES | WHO’S SWITCHING JOBS April 12, 2010 Shepherd and Wedderburn The law firm has elected James Will, the head of its corporate practice, to the position of chairman after over 20 years as a partner at the firm. Corporate partner Andrew Blain takes over as head of corporate, while Guy Winter has been promoted to partner in the same division. Winter joined [...]
Ladbrokes in Italian sale April 12, 2010 LADBROKES has agreed to sell its Italian retail betting and gaming business Itali for €5.25m (£4.61m). Italian gaming group Cogetech will take over the business after its cash offer was accepted. In 2009 the Labrokes’ Italian retail business made a loss of £9.9m and at 31 December 2009 the carrying value of the business was [...]
A big state can’t do it all April 12, 2010 A GOVERNMENT big enough to give you everything you want is a government big enough to take from you everything you have,” so said Gerald Ford, 38th President of the United States in August 1974. “Nonsense,” you say. “We don’t live in some sort of autocratic dictatorship. Our politicians respect the citizenry and serve the [...]
BBC Worldwide shake-up could see Radio Times sold April 12, 2010 THE BBC may seek a commercial partner for its portfolio of magazines in a major shake-up of its Worldwide division. Its iconic Radio Times magazine, launched in 1923 by Lord Reith, may be sold off completely as part of the radical plans. It will also look at potential tie-ups with a number of rival publishers [...]
BAE Systems tops list of world’s biggest defence supply companies April 12, 2010 BAE Systems was the world’s top arms supplier in 2008, outstripping US defence groups for the first time due to demand for mine protection in Afghanistan, a report said yesterday. The study by the Stockholm International Peace Research Institute (SIPRI) showed BAE had displaced US aviation firm Boeing from the top spot. Boeing dropped to [...]
Flapjacks and pasta are the best diet for the marathon April 12, 2010 AT the moment, with just under two weeks before the marathon (writes Henrietta Bailey) you should continue with your normal training diet which should be made up of 50-60 per cent carbohydrate. But when you get to three days before the marathon you should be starting to carb-load and your intake should go up so [...]
How the thirst for a good English cuppa led to a global travel empire April 12, 2010 IF, when staying in a ski chalet, your day has ever started with being brought a cup of tea in bed, you have Andrew Dunn to thank for it. It may seem a simple enough touch of hospitality, and the sort of thing that’s par for the course nowadays in chalets of a certain level, [...]
Asda chief Bond to step down April 12, 2010 ANDY Bond is stepping down as chief executive of Asda in a shock move ahead of his unveiling of the company’s five-year plan. Bond is stepping into a new role of chairman on the board of Asda – a subsidiary of US-giant Walmart – the company said yesterday. The role will start off full-time to [...]