After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
LLOYDS LAUNCHES ITS RECORD RIGHTS ISSUE November 24, 2009 LLOYDS Banking Group yesterday launched the biggest cash call the City has ever seen with its long-awaited £13.5bn rights issue, offering new shares to investors at a deep discount of almost 60 per cent. The rights issue has been priced at 37p, a discount of 59.5 per cent to Monday’s close of 91.47p. Under the [...]
HSBC: OVER-REGULATION MAY CAUSE NEW CRUNCH November 24, 2009 HSBC chairman Stephen Green yesterday warned over-regulation of the City threatens to destabilise the financial services sector and send the economy spiralling back into recession. Speaking at the Hermes and City of London asset management conference, Green said: “The impact of various measures currently under discussion for the enhancement of capital ratios, at the wrong [...]
It is time for Asian economies to grow up November 24, 2009 MORE than ever, I’m convinced that a combination of the West’s ultra-loose monetary policies and Asia’s juvenile reaction to the tidal wave of cheap money this has created are fuelling a new bubble. So I was fascinated to read a series of reports yesterday arguing a very similar point. They are from HSBC’s global research [...]
Bank gave secret 62bn loan to HBOS and RBS November 24, 2009 THE Bank of England has revealed for the first time that it lent Royal Bank of Scotland (RBS) and HBOS £61.6bn in a bid to save the financial system from collapse. Governor Mervyn King yesterday admitted a secret deal had been done last November as the lenders struggled for survival. But the undercover nature of [...]
China’s banks to raise funds November 24, 2009 CHINA’S largest listed 11 banks are seeking to raise tens of billions of dollars in extra capital in order to satisfy regulators. The banks have expanded levels of lending to record levels and must now find at least Rmb300bn (£26bn) ($43bn) in new capital. The banking regulator has warned that it will refuse approvals for [...]
Lehman administrator set to give creditors $11bn in assets November 24, 2009 LEHMAN Brothers’ administrator has issued a proposal to return $11bn (£6.6bn) in assets to creditors. PricewaterhouseCoopers (PwC) – administrator for Lehman Brothers International Europe – made the move after an earlier plan was rejected by a London court. The assets would be returned to creditors in the company’s international arm rather than its US operation, [...]
BBC: No Worldwide float November 24, 2009 THE BBC last night moved to deny claims that it was planning to sell off its controversial commercial arm BBC Worldwide. Worldwide is under the spotlight amid accusations that it is using its financial clout to give it an unfair advantage over rivals. And the BBC’s own Trust ordered it to be reined in, in [...]
USFed raises outlook for 2009 growth November 24, 2009 AMERICA’S Federal Reserve upped its forecast for economic growth next year to a range of 2.5 per cent to 3.5 per cent as official statistics revealed the world’s biggest economy grew by less than originally thought in the third quarter. The US economy grew by 2.8 per cent between July and September, well below the [...]
Royal Dutch Shell looks for $4bn yearly boost from new projects November 24, 2009 ROYAL Dutch Shell’s two massive natural-gas projects in Qatar will increase the company’s cash flow by $4bn (£2.6bn) a year when they start up in 2011, according to chief executive Peter Voser. Voser said the Pearl gas-to-liquids plant and Qatargas 4 – a liquefied-natural-gas development – would deliver 350,000 barrels a day of oil. That [...]
Ashley hires new chair to Sports Direct November 24, 2009 SPORTSWEAR retailer Sports Direct, has ended its two-and-a-half year search for a permanent chairman, by appointing Keith Hellawell, the government’s former drugs tsar. The position has been vacant since David Richardson quit the post in May 2007, having decided he could not work with billionaire Mike Ashley, who owns 71 per cent of the group. [...]