After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
CITY MOVES | WHO’S SWITCHING JOBS March 1, 2010 BP The oil giant has appointed Ian Davis, the former chairman of consultancy giant McKinsey, as a non-executive director, effective from April. David is currently senior partner of McKinsey, where he has worked for over three decades. He was chairman and worldwide managing director between 2003 and 2009, and prior to that was managing partner [...]
Santander expands free account March 1, 2010 Santander, the Spanish banking giant which owns the rebranded Abbey business, has boosted its attempts to cross-sell products to existing customers by expanding the offering of its fee-free current account. The Zero Current Account was launched earlier this year to coincide with the rebranding of Abbey and Bradford & Bingley businesses, but was only offered [...]
Stobart realises £61m from sale March 1, 2010 Transport and logistics group Stobart is selling part of its Inland Ports asset to Legal & General for £61m. The sale includes a 528,000 square foot distribution centre developed by Stobart as the new northern hub for Tesco’s fresh food operations. Stobart said the disposal was part of its strategy to invest in assets to [...]
Tomkins boosted by profit news March 1, 2010 Shares in engineering group Tomkins surged four per cent yesterday as the company swung to a full-year profit and hiked its final dividend payout. Citigroup raises its rating on the stock to “buy” from “hold”. Pre-tax profits were $38.4m compared with a loss of $8.1m, aided by one-off items and it said it was comfortable [...]
FIRST LADIES OF THE CITY GET TOGETHER FOR A GOOD OLD GOSSIP March 1, 2010 FORGET austerity and po-faced über-networking – get a bunch of ladies in a room together and we all know what’s going to happen. It was gossip galore up at the top of the Lloyds Banking Group headquarters on Gresham Street yesterday morning, as the sunlight streamed through the ninth floor windows and the City’s most [...]
Conservative peer Lord Ashcroft admits he is a non-dom March 1, 2010 CONSERVATIVE donor and party chairman Lord Ashcroft has admitted that he is a “non-dom” but suggested he would give up the status if the party won power. In a statement on his website he said was concerned that his tax affairs were “distracting” from the general election campaign. Lord Ashcroft has donated £4,131,995 to the [...]
Mortgage approvals on the slide March 1, 2010 THE number of mortgage approvals in January plummeted by 17 per cent in January compared with the previous month, according to official figures. Data from the Bank of England revealed that the number of home loans approved for house purchases in January fell by 17 per cent compared with the previous month. However, the 48,198 [...]
Prudential seals £23bn deal for AIG’s Asian arm March 1, 2010 INSURANCE giant Prudential (PRU) has snapped up the Asian operations of US insurer AIG for £23bn in a move which will transform the company. The UK’s largest insurer has agreed to pay $25bn in cash and $10.5bn in equity. Prudential in turn will seek to tap shareholders for around $20bn and issue $5 bn of [...]
HSBC profits hit by write-downs March 1, 2010 HSBC has reported a 24 per cent drop in annual pre-tax profits (£4.7bn) for 2009 after a raft of write-downs. However, when one-off factors such as the write-downs are taken out of the equation, its underlying profits rose by 56 per cent to £8.8bn. HSBC has not received direct government support unlike Lloyds and RBS. [...]
Prudential preparing for £23bn AIG Asian deal February 28, 2010 PRUDENTIAL, the largest insurer in Britain, is on the verge of an audacious takeover of the Asian operations of American International Group valued at around £23bn. The Pru would raise £15bn through a mammoth rights issue to help fund the transaction, which would transform it into the most powerful insurance player in the high-growth Far [...]