After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Aureos move leads to City exodus fears February 24, 2010 FEARS over the City’s pulling power were stoked yesterday when private equity operator Aureos Capital said it would open a base in Singapore. Aureos, which runs $1.2bn (£779m) in assets, will offer senior management a move to its Asian office. The firm is following in the footsteps of hedge funds Brevan Howard and BlueCrest Capital, [...]
Donations to Tories dwarf Labour February 24, 2010 THE Tories will fight the next election with a huge war chest of cash, after raking in twice as much as Labour in donations. David Cameron’s party reported donations totalling £10.5m in the last three months of 2009, dwarfing the £4.9m raised by Labour. Sir Nigel Doughty, founder of private equity house Doughty Hanson & [...]
St James’s boosts its annual dividend February 24, 2010 WEALTH manager St James’s Place beat analyst forecasts to deliver a 12 per cent increase in full-year operating profits yesterday, buoyed by rising markets in 2009. The Cirencester-based company, which is 60 per cent owned by Lloyds Banking Group, produced £228.9m compared with £204.3m a year earlier. Its pre-tax number swung from a loss of [...]
ANALYST VIEWS: HOW IS ST JAMES’S PLACE POSITIONED FOR THE COMING YEAR? February 24, 2010 EAMONN FLANAGAN | SHORE CAPITAL The outlook statement was suitably cautious, highlighting higher tax, the forthcoming election and economic conditions. Trading at a discount to our 2010 net asset value (upgraded to 297p from 285p), we view the shares as materially undervalued – we reiterate our “buy” recommendation. BARRIE CORNES | PANMURE GORDON The partnership [...]
Rathbone reviews banking licence as profits dive 30pc February 24, 2010 RATHBONE Brothers has kicked off a formal review of the benefits of holding a banking licence as the prospect of tough regulatory changes looms. Chief executive Andy Pomfret told City A.M. the issue had been “on the radar” for some time, but explained: “What’s changing is there are likely to be changes in capital requirements. [...]
Outflows dent Henderson’s bottom line February 24, 2010 ANGLO-AUSTRALIAN fund manager Henderson reported a dip in profits for 2009 as outflows countered the effect of recovering markets and positive investment performance. The group, which last year took over struggling rival New Star, said recurring pre-tax profits after amortisation and charges was £63m, versus the £80.3m posted in 2008. Henderson said that at the [...]
Norris in US extradition court ruling February 24, 2010 IAN Norris, former Morgan Crucible boss, is facing extradition to the US after losing a battle in the Supreme Court over allegations of obstructing justice. The judgement, handed down yesterday morning saw the Supreme Court unanimously dismiss Norris’ appeal of the extradition, which will see him further tried by the American authorities. Norris, who is [...]
Blacks head for talks with shareholder Sports Direct February 24, 2010 BLACKS Leisure’s financial advisers were yesterday in talks with their counterparts at Sports Leisure in an attempt to strike a funding deal for the company that will prove attractive to both sides and prevent a damaging clash amongst shareholders of the outdoor sports clothing group. The talks commenced immediately after yesterday’s shareholders meeting at Blacks [...]
AKIO TOYODA SAYS SORRY February 24, 2010 DISGRACED Toyota chief executive Akio Toyoda told the US Oversight and Governmental Reform Committee yesterday that he was “deeply sorry” for the accidents and deaths caused by its faulty vehicles. US law makers grilled Toyoda on the spate of fatal casualties over recent months, with some accusing Toyota of become “safety deaf”.
Swiss speed up US tax deal February 24, 2010 Switzerland will ask parliament to turn a deal with Washington that got bank UBS off the hook in a tax evasion case into binding law, plugging a legal hole that is stopping Berne from honoring the agreement. To settle a bitter dispute, UBS and the Swiss government agreed in August to disclose 4,450 secret accounts [...]