After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
The Queen’s Speech starts election race November 18, 2009 THE government yesterday laid down battle lines for the next general election with a politically charged Queen’s Speech that the Conservatives and Liberal Democrats dismissed as “pointless”. The legislative programme outlined by the Queen in the House of Lords contained moves including a widely-expected Financial Services Bill, which will allow regulators to veto bankers’ bonuses [...]
Art collections at banks are becoming a big business November 17, 2009 YESTERDAY it was announced that Asia’s biggest art fair, the Hong Kong-based Art HK, is to be sponsored for the next five years by Deutsche Bank. The fair’s previous sponsor, Lehman Brothers, had its art collection auctioned off earlier this month to the tune of $1.35m, including works by Pop Art superstars Roy Lichtenstein and [...]
Crossrail’s chairman says the 16bn project is set to push ahead in 2010 November 17, 2009 The last time I saw Terry Morgan was a year ago at 2am, underneath Leicester Square. Then he was the Tube Lines chief executive and was standing on the underground tracks between Leicester Square and Covent Garden stations, telling a couple of engineers exactly what he thought of their work. This meeting could not be [...]
Profits down at Enterprise as pubs suffer November 17, 2009 BRITAIN’S second-biggest pubs company, Enterprise Inns, yesterday blamed consumer belt-tightening, higher costs and competition for lower profits and warned of more woe this year. Enterprise, which has 7,400 leased and tenanted pubs, said underlying pre-tax profit fell 21 per cent to £208m in the year to the end of September, just below a forecast for [...]
BEST OF THE BROKERS November 17, 2009 BT GROUPJP Morgan downgraded BT to “neutral”, saying that the group delivered on earnings in its first-half, but that there is reduced upside and scope for positive surprises. This and the increased pension liability drove the downgrade to the broker’s valuation, with the target price dropping to 170p. It believes the pending pension review will [...]
City warns on harmful tax policies November 17, 2009 BUSINESS leaders yesterday implored the government to consider the long-term effects of tax and spending policies on the future competitiveness of the UK as a global financial powerhouse, in a new report co-authored by the City of London Corporation and business group London First. Baroness Jo Valentine, the chief executive of London First, said London [...]
Reshaped Fortis is in the black after strong inflows November 17, 2009 BELGIAN insurer Fortis yesterday unveiled a profit for the third quarter and said revenues in 2009 would at least match last year’s. The former Dutch-Belgian banking and insurance group, which was broken apart after becoming one of Europe’s largest victims of the global financial crisis, said net profit totalled €196m (£173m) between July and September. [...]
Sainsbury’s ramps up price war November 17, 2009 J Sainsbury has fired another shot in the supermarket discount war by matching Tesco with a buy one, get one free later offer. The offer, which has been welcomed by food waste campaigners, allows shoppers to pick up their free product when they want it via a voucher system. Sainsbury’s said its offer will also [...]
INM rejigs Irish production unit November 17, 2009 Independent News & Media (INM) has announced the complete reorganisation of its print and production assets in Northern and the Republic of Ireland, meaning that its leading facilities in Dublin, Newry and Belfast are to be managed as a single, combined entity. INM said that the move will deliver “significant efficiencies” and “improved time to [...]
Obama creates fraud taskforce November 17, 2009 The Obama administration created a new task force yesterday to crack down on financial fraud, an increasingly important political issue after a spike in mortgage scams and big Wall Street scandals. President Barack Obama signed an executive order directing the task force, led by the Justice Department, to investigate and prosecute financial crimes connected to [...]