After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Labour lead continues to fall March 3, 2010 Labour falls a further point to 32 per cent in the YouGov poll for today’s Sun, indicating the furore over Conservative party treasurer Lord Ashcroft has done nothing to boost support for the government. The Tories are unchanged on 38 per cent while the Liberal?Democrats gain ground with a three point rise to 19 per [...]
Petrofac looks to North Sea March 3, 2010 Oil services group Petrofac is poised to buy a series of North Sea oil fields from Swedish company Lundin Petroleum, according to a report in today’s Times. The firm is understood to be in advanced talks with Lundin Petroleum over sites in the British and Norwegian sectors of the North Sea which would then be [...]
Pru brings in 30 banks for rights issue March 3, 2010 A RAFT of big-hitting investment banks including Citigroup, Deutsche Bank, Morgan Stanley and Merrill Lynch have been brought in to help underwrite Prudential’s $20bn (£13.4bn) rights issue. The British insurer’s three global advisers – Credit Suisse, JPMorgan and HSBC – have syndicated underwriting duties to 30 institutions for the cash call, which will go towards [...]
Apax seeks to sell Tommy Hilfiger for $3bn price tag March 3, 2010 TOMMY Hilfiger’s private equity owner is in talks with Phillips Van Heusen about a $3bn (£2bn) takeover bid for the US designer clothing line. London-based Apax Partners, which owns Tommy Hilfiger, has been talking to companies to gauge their interest in acquiring Hilfiger, while at the same time continuing to explore an initial public offering. [...]
Ineos plans to move global HQ to Switzerland March 3, 2010 CHEMICAL manufacturer Ineos is preparing to shift its headquarters from Southampton to Switzerland in the face of rising UK taxes. The firm, Britain’s largest privately owned company by revenue, has launched an internal review and is consulting with its lenders over the move. Ineos estimates it could save €450m (£408m) in tax charges over the [...]
Hague hit in Ashcroft row March 3, 2010 FORMER Tory Leader William Hague yesterday admitted he has known about Lord Ashcroft’s non-dom status for the “last few months”. The peer had agreed with civil servants that he would become a “permanent” UK resident when he joined the House of Lords in 2000, meaning he would likely have paid tax on his overseas earnings. [...]
Wells Fargo chief sees his pay double to $21.3m for 2009 March 3, 2010 WELLS Fargo & Co, the fourth-largest US bank by assets, paid chief executive John Stumpf compensation worth $21.3m (£14.1m) for 2009, a package that likely makes him the highest-paid US bank chief executive officer, according to materials filed with US regulators. Stumpf’s compensation included a salary of $5.6m paid in cash and stock and stock [...]
Your chance to let politicians know what you really think March 3, 2010 THE City is the engine room of the British economy, but you wouldn’t know it from the policies of the main political parties. Few politicians are interested in reflecting or listening to the concerns of the hundreds of thousands of people who work in London’s business and financial sectors. With an election just weeks away, [...]
CALVERT DECLINES TO TESTIFY March 3, 2010 FORMER Cazenove partner Malcolm Calvert standing trial at Southwark Crown Court for 12 counts of alleged insider dealing declined to give evidence in his defence yesterday. Calvert is accused of using secret information gleaned from a source within Cazenove to instruct an accomplice to buy shares ahead of six takeovers. The Financial Services Authority is [...]
Standard Chartered books a record year March 3, 2010 STANDARD Chartered has powered to a seventh successive year of record profits and earnings. It credited strong recovery in its core Asian and African markets for a 13 per cent increase in pre-tax profits to $5.15bn (£3.4bn). Revenue shot up nine per cent to $15.2bn, buoyed by each of its divisions in Korea, India, Singapore [...]