ORANGE LAUNCHES NEW TABLET January 10, 2012 ORANGE has released its first own-branded tablet, which is, of course, named after the largest island in the Windward group of the French Polynesian Society Islands. The Tahiti is manufactured by Chinese telecoms giant Huawei – a strategy that has already worked out quite nicely for Orange with its San Fransisco smartphone (which was made [...]
Rathbones assets grew through 2011 January 10, 2012 BRITISH wealth manager Rathbone Brothers defied the financial turmoil emanating from the Eurozone debt crisis during 2011, managing a modest increase in the amount of money it runs as its sales countered falling markets. Total funds under management at the end of 2011 stood at £15.8bn, up 1.4 per cent over the year. For comparison, [...]
Rothschild leads the way in weak restructuring market January 10, 2012 THE VALUE of distressed debt and bankruptcy restructuring in Europe, the Middle East and Africa (EMEA) fell by more than 40 per cent last year, according to new research. The total value of completed deals in the EMEA region hit $101.4bn (£65.5m), down 40.4 per cent on 2010, Thomson Reuters data shows. Rothschild topped the [...]
Former Goldman trader Sze’s Asia hedge fund falls January 10, 2012 FORMER Goldman Sachs Group trader Morgan Sze’s (pictured) hedge fund Azentus Capital lost 6.79 per cent in 2011, two sources with direct knowledge of the matter said yesterday. The Hong Kong-based multi-strategy hedge fund, which could invest globally but mainly focuses on companies related to Asia, had a blockbuster start with about $1bn (£646m) on [...]
Regulation fears kill off Arbuthnot plans for JV January 10, 2012 BANKING group Arbuthnot has shelved plans for a consumer finance joint venture because of concerns over the impact of red tape. Arbuthnot announced plans in July for a JV through Secure Trust Bank (STB), its listed subsidiary in which it retains a 75 per cent stake, as well as an unnamed partner. It said yesterday: [...]
London on top but IPO market sinks in Europe January 10, 2012 THE EUROPEAN market for flotations slumped further in the final three months of last year, driven by turmoil in the single currency area, new data shows. PwC said 78 initial public offerings (IPOs) raised €866m (£715m), down 81 per cent on the third quarter and 83 per cent down year on year. London remained at [...]
Sales soar for spread better January 10, 2012 Spread betting firm London Capital Group yesterday said it had benefitted from market volatility last year. Revenue rose 13 to £39m, driven by a surge in client wins in the second half. British spread betting hit record daily trade volumes with the average number of trades per day increasing 10.8 per cent to 33,042. In [...]
WebMD loses chief and scraps sale January 10, 2012 Popular health information website WebMD Health took itself off the auction block yesterday as it warned investors of lower 2012 profits as its advertisers in the drug industry pull back on spending. US-listed shares of WebMD, in which activist investor Carl Icahn owns a nearly 10 per cent stake, tumbled 27.4 per cent on the [...]
Tesco shuts 12 stores in the States January 10, 2012 Tesco, the world’s third-biggest retailer, is mothballing 12 stores at its loss-making Fresh & Easy business in the United States due to weak local economies, it said yesterday. The British group said it remained committed to the chain, which it is aiming to lift to break even by the end of its 2012-13 financial year. [...]
Cairn launches its $3.5bn payout plan January 10, 2012 OIL explorer Cairn Energy yesterday said it would return £1.60 per share in cash to investors as it activated its plan to distribute $3.5bn (£2.26bn) from the proceeds of the part sale of its Indian oil business. Cairn announced that shareholders could opt to receive the cash as income, capital or a combination of both. [...]