Thames River bosses share £26m payout September 9, 2010 THAMES RIVER CAPITAL, the fund firm recently bought by rival F&C, has shared £25.9m between the partners of its main subsidiary, despite a fall in profits and big outflows from its hedge funds. The payout to the 25 members of Thames River Capital, including chief executive Charlie Porter, chief operating officer Jeremy Charles and commercial [...]
APPLE RELAXES APP RULES September 9, 2010 APPLE, led by chief executive Steve Jobs, said it will ease restrictions for building iPhone and iPad applications, a move that should allow for the use of third-party tools such as Adobe Systems’ Flash software, and could ease the tension between the two companies. The US computer giant had been criticised by developers for what [...]
Takeover Panel prepares Code review response September 9, 2010 A PRIVATE put-up-or-shut-up deadline is the most likely significant proposal to come out of the consultation on proposed changes to the Takeover Code, according to M&A experts. The Takeover Panel’s response to the consultation – sparked by controversy over Kraft’s takeover of Cadbury earlier this year – is due in the next couple of weeks, [...]
Redrow calls for state help on mortgages September 9, 2010 THE head of housebuilder Redrow called on the government to take action over the sickly first-time buyer market in a bid to revive overall sales, after reporting better-than-expected annual results. Steve Morgan, the founder of Redrow who returned in a boardroom coup last year, described state intervention as a “no-brainer” due to low mortgage availability [...]
Arm shares rise to eight-year high as new chip is unveiled September 9, 2010 BRITISH chip designer Arm Holdings unveiled a new processor that could help it extend its dominance in mobile phones into new markets, sending its shares to a new eight-year high yesterday. Arm, led by chief executive Warren East, is making inroads into bigger rival Intel’s territory with design wins including Apple’s iPad tablet computer. Texas [...]
Premier Farnell boosts dividend after beating quarterly forecast September 9, 2010 ELECTRONIC components distributor Premier Farnell more than doubled its profit in the second quarter, beating market expectations, helped by strong growth in China and a recovery in North America. The company, which counts Philips, Microsoft and Nokia among its customers, posted underlying pre-tax profit of £23.8m for the three months to 1 August, up from [...]
Dana will be sold at £1.9bn, market says September 9, 2010 INVESTORS and analysts said it was “game over” for Dana Petroleum last night after the state-owned Korea National Oil Corporation (KNOC) stuck with its £1.9bn takeover offer. KNOC called Dana’s bluff a day after the Aberdeen-based exploration company put out a defence document arguing for a much higher offer. Dana, led by pugnacious chief executive [...]
Tweedie tells politicians to let IASB find his successor September 9, 2010 European politicians should not interfere in how the next chief of a global accounting rule setting board will be selected, the board’s current chairman said yesterday. David Tweedie, chairman of the International Accounting Standards Board (IASB), which sets accounting rules used in over 100 countries, including the EU, said the selection of his successor should [...]
Google makes bid to speed up web searches September 9, 2010 GOOGLE’S search engine now displays results before users finish typing. The new technology, dubbed Google Instant, can shave two seconds to five seconds off every Internet search, Google said yesterday, and could entice users to search more on its website. And with competition increasing from Internet rivals such as Microsoft, Yahoo and Facebook, the technology [...]
Morrisons in move towards online sales September 9, 2010 SUPERMARKET giant Morrisons has reported pre-tax profit of £412m for the first half of the year – as it confirmed that it was considering a move into retail. The profit was eight per cent down on the same period last year, but in line with forecasts. Underlying profit was up taking into account a one-off [...]