After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Blacks back on track after landlords grudgingly agree to accept rescue deal November 23, 2009 LANDLORDS yesterday accepted a financial rescue plan for Blacks Leisure, saving 4,300 jobs at the beleaguered high street retailer in the process. Although many of them are angry about accepting yet another company voluntary administration (CVA), an overwhelming 98 per cent of landlords voted to accept the conditions offered by Blacks to ensure its survival. [...]
GM close to putting 3bn rescue plan to Europe November 23, 2009 GENERAL Motors will present a €3.3bn (£3bn) rescue plan to European governments for its struggling Opel and Vauxhall brands within days, those involved in talks said yesterday. GM this month backtracked on plans to sell the cars to a consortium led by car parts firm Magna — a deal that involved government aid — but [...]
Boss of truckmaker MAN quits November 23, 2009 Hakan Samuelsson, the Swedish chief executive of German truckmaker MAN, is leaving the company at his own request with immediate effect, the company said in a surprise statement yesterday. “Samuelsson hopes that his decision will help the MAN Group to quickly devote all of its attention to its core business and its further development. He [...]
Rents set to rise for student flats November 23, 2009 Rental growth in the student accommodation sector has remained robust during the downturn, according to estate agents Knight Frank. Rental rates for student houses have recorded growth of five per cent per year over the last six years, compared to 0.6 per cent for commercial property. Substantially higher growth was achieved in key university towns [...]
Terrace Hill restructures debt November 23, 2009 Property developer and investor Terrace Hill Group has arranged a £39.3m debt refinancing after three months of negotiations. The firm, which is active in food store developments and recently fixed £28m of forward financing for a Sainsbury’s store, has agreed £35.1m of the refinancing with an unnamed ‘major European bank’, with a revised maturity of [...]
LSE slaps ERT for recklessness November 23, 2009 HYDER CONSULTING has boosted its international business to nearly three-quarters of total revenues, a move that has insulated it from the worst of the recession in the UK, the company said. Hyder, which specialises in design for infrastructure and engineering projects, yesterday said it would meet annual profit targets as it reported first-half results in [...]
Cost cuts keep profits on the boil at Campbell Soup November 23, 2009 CAMPBELL Soup reported a higher-than-expected quarterly profit yesterday, helped by price increases and easing costs for ingredients such as grain that offset a drop in sales. The world’s largest soup maker also raised its sales and profit expectations for the fiscal year. Sales fell 2.1 per cent to $2.2bn (£1.3bn) from a year ago. Campbell [...]
International focus drives Hyder higher November 23, 2009 CAMPBELL Soup reported a higher-than-expected quarterly profit yesterday, helped by price increases and easing costs for ingredients such as grain that offset a drop in sales. The world’s largest soup maker also raised its sales and profit expectations for the fiscal year. Sales fell 2.1 per cent to $2.2bn (£1.3bn) from a year ago. Campbell [...]
BEST OF THE BROKERS November 23, 2009 KINGFISHERCredit Suisse yesterday said it was upgrading its forecasts for Kingfisher in anticipation of its third quarter results on 3 December. The broker said that Kingfisher’s increased forecasts at the company’s interims has sparked a 23 per cent rise in its target price to 270p. The broker also noted the group’s short term margin recovery. [...]
Shell’s gas production is hit by a ten month delay in middle eastern project November 23, 2009 ROYAL Dutch Shell said yesterday it had delayed one of its largest schemes by almost a year, with the start-up for the $8bn (£4.8bn) Qatargas 4 liquefied natural gas project now planned for late 2010. The delay, which a Shell spokeswoman said was due to contractors struggling to keep up with the pace of developments [...]