After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Losses at RBS are slashed to just £3.6bn February 25, 2010 Royal Bank of Scotland claimed its darkest days have passed as it posted annual losses of £3.6bn – down from £24bn in 2008. The group’s core business – which includes only the departments that will remain after the bank is forced to restructure – saw profits jump from £4.4bn in 2008 to £8.3bn last year. [...]
Investment banking is star of show February 25, 2010 IT looks like Stephen Hester deserved his £1.6m bonus after all. Yesterday, the bank delivered a stronger-than-expected set of numbers, even if the mainstream media continued to fixate on the government’s decision to rubber stamp bonus payments for staff. Analysts at Nomura think RBS could end up back in the black before this year is [...]
Just £1.3bn bonus pot … but more than 100 will get £1m February 25, 2010 More than 100 Royal Bank of Scotland bankers will receive bonuses of more than £1m. The news comes as RBS announced it will pay out just £1.3bn in bonuses this year – the lowest compensation ratio in the industry. The ratio is set at just 27 per cent, far below the 38 per cent revealed [...]
New look board behind the turnaround at RBS February 25, 2010 The Royal bank of Scotland chairman yesterday pinned the bank’s change in fortunes on the strength of its new board. Philip Hampton said the people who brought the institution to the brink of collapse have all been culled. The board, which has stemmed RBS’ losses at £3.6bn after it lost £24bn the year before, has [...]
Greek losses dent Credit Agricole profit February 25, 2010 CREDIT Agricole, reported lower-than-expected fourth-quarter profit yesterday, with earnings hit by losses in Greece, although France’s biggest retail bank said it had made a good start to 2010. “Initial trends in 2010 confirm that all of the group’s businesses are performing well,” Agricole said. Agricole’s net profit rose to €433m (£383.8m), compared to a loss [...]
Allianz predicts flat 2010 as boosts dividend payout February 25, 2010 EUROPE’S biggest insurer Allianz yesterday forecast a stagnating year ahead, mired in low economic growth and high unemployment. It unveiled net profit of €1.076bn (£1bn) in the fourth quarter, shy of the €1.17bn expected in consensus forecasts and lifted its dividend by almost one fifth. But it said 2010 operating profit will match the €7.2bn [...]
RSA confident despite weak annual results February 25, 2010 INSURER RSA said it was on track for “excellent” results in future amid continued economic uncertainty after its annual profit fell a less than expected 10 per cent, held back by a weaker investment performance. RSA, Britain’s biggest commercial insurer, said it had a 2009 operating result of £77m, down from £867m in 2008, but [...]
Redrow warns on mortgages February 25, 2010 HOUSEBUILDER Redrow slashed its first-half losses following a pick-up in the number of sales and an increase in prices but warned that a lack of mortgages is still causing problems. Completions climbed 21 per cent to 1,266 for the six months to December with the average selling price of homes rising 3.6 per cent to [...]
BAT criticises UK taxes as it posts jump in profits February 25, 2010 BRITISH American Tobacco (BAT) has warned that the UK’s tax regime is putting off some top foreign executives as it posted a sales and profit hike. The company behind Dunhill, Lucky Strike and Pall Mall cigarettes announced a 17 per cent leap in annual sales to £14.2bn. Profits for 2009 rose 15 per cent to [...]
CITY MOVES | WHO’S SWITCHING JOBS February 25, 2010 Rothschild Rothschild has appointed Mark Kary (pictured) and Helen Watson as managing directors in its private banking & trust division. Kary joins from Polar Capital Holdings where he was chief executive officer and prior to that he spent 19 years at Morgan Stanley. Watson also joins Rothschild from Morgan Stanley where she worked in the [...]