After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
British Gas beats BT in the utilities price war March 2, 2010 IT seems that British consumers are very sensitive to the details of their arrangements with their utility suppliers. This week we compare one utilities company that has benefited from this (British Gas), and one that has suffered (BT). It appears that British Gas’ announcement of a seven per cent price cut for all households has [...]
GAM hit as clients shun high-risk assets March 2, 2010 GAM Holding’s full-year net profit tumbled 60 per cent as clients pulled money from hedge funds in favour of safer lower-margin products, the Swiss-listed asset manager said yesterday. Net new money rose to Sfr414m (£256.7m), GAM said after Sfr2bn of client money flowed into the group in the second half, though this was mainly into [...]
BEST OF THE BROKERS March 2, 2010 HAYS Numis Securities reiterates its “sell” rating on Hays citing another set of earnings downgrades post its half year results. Following a tough period of trading, the business faces additional UK public sector pressures which could lead it to lag a wider staffing recovery. While the dividend yield remains attractive it prefers Hays’ rivals. HSBC [...]
CITY MOVES | WHO’S SWITCHING JOBS March 2, 2010 Jupiter Asset Management The asset manager has appointed John Tevenan as a sales director in its global financial institutions group, responsible for developing relationships among global wealth management businesses. Tevenan joins in May and is currently UK sales director at Investec Asset Management, where he has worked since 2005. He has also held roles at [...]
The comeback cad trying his luck in the Med March 2, 2010 JAMES Hewitt – former lover of Princess Diana, ex-solider, comeback cad – throws his head back and laughs at what I have just said. “Yes, I suppose this is like Rick’s in Casablanca,” he says when he recovers. “And everyone comes to Rick’s.” We are having dinner in a corner of Polo House, his bar [...]
Allied Irish Banks in first ever annual loss March 2, 2010 ALLIED Irish Banks posted its first ever full-year net loss, after being hit by a property market crash. The lender, in which the government last year acquired a 25 per cent indirect stake, said it was trying to improve its capital position. It posted a net loss of €2.3bn (£2.1bn) for the 12 months to [...]
Provident see profit slide March 2, 2010 PROVIDENT Financial posted lower-than expected profit in the full year as customers were more cautious in their borrowing habits during the recession. The firm, which specializes in loans to people who usually need to borrow less than £500 and pay it back in weekly installments, posted a 2.4 per cent drop in full-year pretax profit [...]
BBC axes radio stations in spending shake-up March 2, 2010 THE BBC has confirmed plans to axe digital radio stations 6 Music and Asian Network as part of a programming shake-up. Half of the sections on the BBC website are to be axed as part of the overhaul. The budget for US imports will be reduced by 20 per cent, under the measures. BBC Switch [...]
Persimmon back in profit March 2, 2010 HOUSEBUILDER Persimmon swung back into profit last year after writing up the value of its landbank by almost £75m. Pre-tax profits came in at £77.8m compared to a £780m loss in 2008 when lower property valuations took their toll as the sector was ravaged by the recession. The UK’s largest housebuilder completed 8976 homes last [...]
Sports Direct considers bid for Blacks March 2, 2010 SORTS Direct says it is considering a takeover offer for Blacks Leisure. Mike Ashley’s Sports Direct, which has brands including Slazenger and Dunlop, already owns almost 30 per cent of Blacks shares. It said it is “evaluating a possible cash offer for the entire issued and to be issued share capital of Blacks”. The company, [...]