Death of star banker and Lazard boss Wasserstein is mourned on Wall Street October 15, 2009 TRIBUTES flooded in yesterday for star investment banker and chairman and chief executive of Lazard, Bruce Wasserstein, who died on Wednesday. The celebrated Wall Street dealmaker was hospitalised on Sunday due to an irregular heartbeat and had been said to be recovering until the news of his death. He worked right up until his last [...]
WHERE WILL XSTRATA LOOK FOR DEALS NOW THE ANGLO MERGER IS OFF? October 15, 2009 RICHARD CURR PRIME CFDSXstrata can find better deals than Anglo, so it’s no surprise it has walked away. The Anglo that Xstrata was looking at a year ago looks somewhat different. We suspect Xstrata might go for some low hanging fruit, as in Lonmin or First Quantum, but we wouldn’t rule out another approach for [...]
Further deflation in Eurozone October 15, 2009 Eurozone deflation widened to 0.3 per cent in September, taking core inflation in the single currency area to a nine-year low of 1.1 per cent. Inflation is expected to remain below the ECB’s target of just below two per cent for some time. Separately, the ECB said the Eurozone is stabilising and expected to recover [...]
UBS sells BPO unit to Cognizant October 15, 2009 Swiss bank UBS has sold its Indian IT services and business process outsourcing (BPO) unit India Service Centre Private to Cognizant for $75m (£46m). The sale echoes a similar move by Citigroup, which sold its Indian BPO operation to Tata and its IT services subsidiary to Wipro earlier this year. The transaction is expected to [...]
DSB gets 24 hours to find a buyer October 15, 2009 Dutch bank DSB was given a stay of execution yesterday as a judge gave the bank 24 hours to find a buyer before it is declared bankrupt. DSB has until midday tomorrow to come up with a buyer, at which point the court will hold a further hearing. DSB was placed under administration at the [...]
Timing is everything when you choose to study for an MBA October 14, 2009 RESOLVING to take significant time out of your career to study for an MBA is one of the biggest decisions you can take, and one that involves a whole host of other choices – what kind of MBA to take, what school and even what country to study it in, and, perhaps most importantly, when [...]
Cash-strapped MBA students look for money in new places October 14, 2009 THE topic of student funding is likely to be one of the major issues facing business schools over the next few years. While MBA students studying in their home countries can still rely on the traditional funding structures – ie, loans from banks – those who study in countries far from where they have been [...]
Madoff’s fraud was driven by pure revenge October 14, 2009 THE BELIEVERSBY ADAM LEBOROrion, £18.99Budapest-based journalist Adam LeBor’s book about the world’s greatest fraudster comes on the heels of American investigative journalist Erin Arvedlund’s tell-all (or rather, as much as she could) about Bernard Madoff. LeBor’s book is packaged slightly differently but there’s no escaping he’s a bit of a sloppy second. His stance is [...]
Du pain, du vin, du Cornish Yarg October 14, 2009 IT’S a historic moment. British cheeses are outselling French fromages at a rate of two to one as shoppers choose the homegrown beauties now available by the hundred. The figures are not, to be fair, applicable across the populace, but rather relate to the tastes and inclinations of M&S shoppers. Still, as a barometer of [...]
FOOD & BOOZE NEWS October 14, 2009 MALBEC AND CHOCOLATE AT GAUCHOThe Argentine steak house chain have stumbled upon something rather tasty. The predominant Argentine grape Malbec, which ranges from the delicate to the deep and fruity, goes perfectly with all manner of dark chocolate. To book a monthly tasting, go to www.gauchorestaurants.co.uk THE LANCASTER HOTEL’S HONEYBEESThe bees arrived in July and [...]
