After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
DS Smith beats expectations March 4, 2010 Packaging and office products company DS Smith said yesterday it traded above its own expectations in the third quarter, and was confident of meeting its full-year view. However, the producer of recycled packaging said it continued to face uncertainty over the strength of a revival in the economy and the need to recover rising input [...]
Carlyle mulls offer for Loscam March 4, 2010 The Carlyle Group will consider bidding for Australian pallet maker Loscam, the US private equity giant’s managing director said yesterday, in a deal that could be worth at least A$500m (£300m). Private equity firm Affinity Equity Partners bought Loscam in 2005 in a leveraged buyout, and has appointed Credit Suisse and Deutsche Bank to advise [...]
Spain in bid to move Airbus jobs March 4, 2010 Spain and Britain are heading for a clash over the location of hundreds of aviation jobs as European governments complete a bailout for the delayed Airbus A400M military plane. Spain is putting increasing pressure on the UK to surrender high-skilled production jobs if it fails to contribute its full share of a €3.5bn aid package [...]
Maersk eyes modest profit after first loss March 4, 2010 DANISH shipping and oil group AP Moller-Maersk said yesterday it would return to a “modest” profit in 2010 after weak global trade knocked freight rates and dragged it deep into the red for 2009 – its first-ever annual loss. The group’s Maersk Line is the world’s biggest container shipping company and is sometimes seen as [...]
UBS escapes Madoff claims March 4, 2010 INVESTORS who lost money to US swindler Bernard Madoff through a fund set up by UBS cannot seek compensation directly from the Swiss bank, a Luxembourg court ruled yesterday, relieving pressure on UBS. The court rejected the demands of a small group of investors in the LuxAlpha fund looking to file individual claims against UBS [...]
Commerzbank raises its stake in Ukrainian lender March 4, 2010 Commerzbank, Germany’s second-biggest lender, yesterday raised its stake in Bank Forum to almost 90 per cent, paving the way for a potential capital increase at the Ukrainian lender. The transaction comes just days after Commerzbank participated in a capital increase at Polish unit BRE Bank and amid signs that writedowns on bad debt are still [...]
GDF Suez cuts profit target following impact on core earnings from gas prices March 4, 2010 GDF Suez cut its key profit target yesterday as sharply lower gas prices capped the world’s second-biggest listed utility’s core earnings growth at one per cent in 2009. GDF Suez shares fell 3.2 per cent to €26.53 (£24.06) with one analyst saying the results and target were below forecasts. The French energy group said it [...]
SARKOZY TO SHORE UP FRENCH INDUSTRY March 4, 2010 FRANCE will play a more active role in managing its state shareholdings, President Nicolas Sarkozy said yesterday, unveiling policies aimed at halting the decline of French industry. Sarkozy also said he would earmark millions of euros to encourage firms to innovate with green investment and bring jobs back to France as part of a plan [...]
CITY MOVES | WHO’S SWITCHING JOBS March 4, 2010 London & Capital The boutique wealth management firm has appointed Sanjay Joshi as a senior portfolio manager in the fixed income team, responsible for overseeing portfolio construction, asset allocation and the company’s new UCITS income funds offering. Joshi rejoins London & Capital after spending four years at F&C Asset Management, co-managing a fixed income hedge [...]
Interest rates frozen again March 4, 2010 THE Bank of England continued to sit tight in March as fears of a double dip recession diminished. Interest rates were left at a record low of 0.5 per cent while its quantitative easing programme, which finished last month, has been put on ice. However, the Bank has left the door open for further action [...]