After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
BAE pleads guilty and pays fine March 1, 2010 BAE Systems, Europe’s biggest military contractor, pleaded guilty in a US court to conspiring to make false statements in connection with foreign arms contracts and will pay a $400m (£267m) fine. BAE announced last month it would resolve a long-standing inquiry by the US Department of Justice into questionable payments it made to secure arms [...]
Sony tell gamers to stop playing March 1, 2010 Sony said a glitch has knocked PlayStation 3 users off the game console’s online network, and the company warned that data loss could occur if gamers continued using the machines. Sony said in a blog post yesterday that the problem was likely caused by a bug in the clock functionality incorporated in the system, reminiscent [...]
Shire on high after drug approval March 1, 2010 Shire, the pharmaceutical company, will launch a new treatment for patients suffering from Gaucher disease. The product, named VPRIV, was granted marketing approval by the US Food and Drug Administration yesterday. The VPRIV application has also been granted accelerated assessment by the European Union. Shire expects to launch VPRIV in the EU by the end [...]
Traders beat daily record at Goldman March 1, 2010 GOLDMAN Sachs smashed its $100m (£66.7m) plus trading day record by 41 days in 2009, despite taking on greater trading risks during the year. On 131 days last year the investment bank made at least $100m in net trading revenues, up from 91 days in 2008, according to an annual report filed with the Securities [...]
FSA fines set to treble as the watchdog shows its teeth March 1, 2010 FINES handed out by the Financial Services Authority (FSA) are likely to triple in size when the regulator puts in place its new financial penalties policy next week. Fines will be more closely linked to income as part of the new framework that will come into force on 6 March. “We imposed record fines in [...]
Your chance to let politicians know what you really think March 1, 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, [...]
HSBC director set for £10m pay windfall March 1, 2010 HSBC’s investment banking chief Stuart Gulliver is set to pocket a bumper payout of over £10m, after profits at the global banking and markets arm jumped threefold to $10.48bn (£7bn) during the 2009 financial year. Gulliver, 50, who joined HSBC from university 30 years ago, will receive a bonus of £9m in deferred stock, as [...]
Returning to Asian roots will pay off March 1, 2010 SIR Michael Geoghegan might be in a charitable mood, but investors aren’t; the firm’s stock shed over five per cent to close at 682p yesterday, after worse-than-expected headline figures for the full year. The disastrous acquisition of Household is still the albatross around the bank’s neck. It is busy running off the now-closed division, but [...]
Prudential is back in black as deal looms March 1, 2010 PRUDENTIAL swung back into the black as it reported a £1.7bn pre-tax profit yesterday, marginally ahead of consensus estimates. Bullish after performing solidly through changeable market conditions, the British insurer upped its total dividend by five per cent to 19.85p per share for 2009. However, traders were unsettled by a 24 per cent fall in [...]
Thiam says UK is still key as he eyes move to eastern markets March 1, 2010 THE headquarters of Prudential will stay in the UK, although the new holding company used to buy American International Assurance will be dual-listed in London and Hong Kong. Chief executive Tidjane Thiam said the UK remained “key” to the insurance titan’s strategy. More mature western markets – primarily the UK and the US – are [...]