Representative democracy needs another look May 19, 2009 The European Commission fined Intel a record &1119;1bn last week for anti-competitive practices. The graph shows the buzz scores for Intel in the UK, Germany and the US, with them all taking a dive on the news. Often when we see bad PR stories with accompanying drops in their “buzz” scores we see no particular [...]
Cable urges UKFI to keep bank stakes May 19, 2009 UK Financial Investments (UKFI) should not be too hasty in disposing of the government’s stakes in banks, Liberal Democrat treasury spokesman Vince Cable said yesterday, after it emerged that the organisation was already sounding out potential buyers. It is understood that UKFI has been talking to sovereign wealth funds and other institutional investors about taking [...]
CITY MOVES WHO’S SWITCHING JOBS May 19, 2009 GorkanaThe PR and journalist portal has hired former Unilever board director Ralph Kugler as chairman as it ramps up its growth plans. Kugler spent over 28 years with Unilever, including as regional president of the firm’s businesses in Europe and Latin America, and chief executive of its Thai and Malaysian units. He is also currently [...]
BarCap hires fierce critic May 19, 2009 BARCLAYS Capital (BarCap) is to hire a trio of Citigroup analysts, including one with a record of issuing notoriously bearish notes on the investment bank’s parent company, as it marches on with its hiring spree. Tom Rayner, a banking analyst with Citigroup, will join BarCap’s European equity research team, in a move that will raise [...]
Feud over scrap scheme ends after UK carmakers commit May 19, 2009 CARMAKERS ended their dispute with the government over the new cash-for-bangers scheme yesterday, and confirmed they will take part in the programme. Ford and Honda delayed their involvement in the scheme at the eleventh hour over concerns about how their financial contribution to the scheme would be structured. Both wanted clarification of VAT arrangements and [...]
BEST OF THE BROKERS May 19, 2009 ROLLS-ROYCEUBS downgraded Rolls-Royce to a “sell” rating, and cut its earnings per share estimates by seven per cent in 2010, to factor in a weaker A380 delivery outlook, a downward revision to the pension finance charge and the impact of the US dollar weakening. The broker expects two years of falling profits and cash out-flows. [...]
Dixon the risk-taker changes his tactics to thrive in the recession May 19, 2009 You could almost be mistaken for thinking Mark Dixon, the founder and chief executive of office space provider Regus, is enjoying this recession. Perhaps it is because Regus’ share price has bounced 50 per cent since March. What is clear is that the short, fair-haired, serial entrepreneur who is sitting in one of his flagship [...]
CITY GRANDEES UNITED IN FOOTBALLING LOVE May 19, 2009 SURELY it’s a sign of the times when even the guest speaker at a City awards bash isn’t quite certain why he’s been invited? Last night saw 300 business world luminaries pack the ballroom at the Hilton hotel on Park Lane for the 2009 M&A Awards, where sports television presenter Ray Stubbs, pictured below, had [...]
Oversupply will dictate crude’s price far more than sentiment May 18, 2009 LAST week, oil prices touched the $60-a-barrel mark, almost double the low of $32 that they were in February. A reason to be cheerful? The International Energy Agency (IEA) clearly thought so last Tuesday, when its executive director Nobuo Tanaka indicated that the IEA was unlikely to reduce its demand forecast for 2009. But that opinion [...]
OUTLOOK IS GRIM FOR THE NEW SICK MAN OF EUROPE May 18, 2009 FOR those traders stubbornly sticking with short FTSE positions from the sub-4,000 mark, last week’s profit-taking will have been a welcome relief. After the past few months of almost uninterrupted rallies in shares and green shoots spurring an 800-plus point bounce in the FTSE, those resolute bears must have been close to folding. That’s fine [...]
