BHP’s bid provokes poisonous reply August 17, 2010 JUST as the markets were drifting into the final few days of summer – traditionally one of the quietest times of the year for corporate news – up pops mining giant BHP Billiton with a near $40bn proposal to takeover the Canadian fertiliser and animal feed group Potash. Although all sorts of things are possible [...]
Doing well can be the best way to do good July 5, 2010 Dambisa Moyo, author of Dead Aid: Why Aid is Not Working and How There is a Better Way For Africa, and I met for breakfast recently. Dead Aid argues that aid to Africa is hurting Africa and should be phased out. It became a New York Times bestseller. She reminded me of one of the [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? June 22, 2010 KATE SOLWAY, 30 FUNDS CONTROLLER AT PRIVATE EQUITY FIRM COGNETAS Kate is single and lives in rented accommodation. She also owns two investment properties – one a London flat with a mortgage which she rents out, and the other a holiday home under construction in west Africa’s Cape Verde, on which she does not have [...]
Pru told to list its Asian unit June 2, 2010 PRUDENTIAL is facing calls to realise the value of its Asian business through a stockmarket listing after its $35.5bn (£25bn) play for AIA lay in tatters yesterday. Chief executive Tidjane Thiam and chairman Harvey McGrath, who are fighting for their professional lives along with the rest of the board, will come under pressure to provide [...]
NYC sends a slice of Gallic heaven May 31, 2010 Bar Boulud Mandarin Oriental, 66 Knightsbridge, SW1X 7LA, tel: 020 7201 3899 Cost per person without wine: £45 THE name Daniel Boulud is a huge deal in New York, where everything is either a huge deal or offensively passe. The Lyon-born chef’s cluster of Manhattan eateries has managed to remain on the “huge deal” side [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 20, 2010 FINANCIAL TIMES BOOK PUBLISHERS FEAR THREAT OF DIGITAL PIRACY Publishers have warned that the fight against illegal copying of digital books could impose a huge cost on the industry, raising fears of a new wave of online piracy. Gail Rebuck, chairman and chief executive of The Random House Group, part of Bertelsmann, said illegal copying [...]
HOW THE AGREEMENT AFFECTS THE CITY May 20, 2010 BANKING • The coalition has agreed to impose some kind of levy on the banking industry, although its exact form has yet to be decided. The Tories want to introduce a fee on banks’ wholesale funding, while the Liberal Democrats would prefer a tax on profits. • There is a vague commitment to tackle “unacceptable [...]
A sport with more lure than Wii May 9, 2010 THE REEL screamed as a trout grabbed my seven-year-old son’s lure. Jake gasped with delight – then made a grab for the reel as the fish leapt out of the water. “Don’t touch the reel,” I yelled, fearful of a snapped line. “Let the fish take the line – then you can reel it in [...]
Markets fear Greek disaster May 5, 2010 FEARS Greece’s debt crisis could spread to other countries continued to hit markets yesterday fuelled by a threat by Moody’s rating agency that it may downgrade Portugal. The FTSE 100 crashed 1.3 per cent, while the euro plummeted to $1.2801 – its weakest level against the dollar since March 2009. The cost of insuring Spanish [...]
UK should brace itself for austerity May 5, 2010 RESEARCH DIRECTOR, FOREX.COM OVER the next few months the British electorate will wake up to the reality of what it means to live in a country with a budget deficit of £163bn. The bleak truth is that few will be immune to the tax hikes and spending cuts that will inevitably hit over the next [...]