FTSE launches clean-tech tool June 15, 2009 Global index provider FTSE Group has announced the launch of new tools to help investors seeking exposure to the environmental technology sectors. The new tools include an environmental markets industry classification system, which will allow investors to identify and make peer-to-peer comparisons more easily.
Ten Alps profit hits a plateau June 15, 2009 Media production company Ten Alps posted a flat pre-tax profit for the full year to 31 March, and said the new financial year began with a “decent” order book. Pre-tax profit for the full year was £3.3m, compared with £3.2m a year ago, and revenue fell 1.5 per cent to £80.2m. But Ten Alps, which [...]
Sumitomo to launch 5.7bn rights issue June 15, 2009 JAPAN’S second largest bank by market value, Sumitomo Mitsui Financial Group, yesterday announced a giant £5.7bn share sale, buoyed by strong demand from overseas and domestic investors. The Japanese mega-bank said it will raise 923.1bn yen (£5.7bn) by issuing new common shares, making it one of the biggest fundraisings in Japanese corporate history. The bank plans [...]
Brown to hire Royal spin doctor June 15, 2009 Prime Minster Gordon Brown is set to appoint the man responsible for the turnaround of the Queen’s public image after the death of Diana, Princess of Wales as his new spin doctor. Simon Lewis, whose clients include Buckingham Palace, Centrica and Vodafone, will try to restore Brown’s dogged reputation. Lewis is an old acquaintance of [...]
Addax shares fly on China talks June 15, 2009 Shares in London-listed oil explorer Addax soared yesterday on talks that Chinese state-owned refiner Sinopec was making a £4.8bn bid for the company. The offer, which is understood to be advised by Credit Suisse, looks set to trump a bid from the state-run Korea National Oil Company.
Deripaska appoints GM chief June 15, 2009 Russian indebted carmaker GAZ said yesterday it had invited a former General Motors executive to head its board of directors. The group, owned by tycoon Oleg Deripaska, said former purchasing chief Bo Andersson had expressed his agreement to take the post. GAZ, along with Russia’s largest lender Sberbank and Canadian car parts group Magna is [...]
Aquascutum thrown lifeline June 15, 2009 Struggling luxury fashion brand Aquascutum has been thrown a lifeline by Crombie chairman Alan Lewis. Lewis is believed to be early talks with Japanese owner, Renown, to acquire the label’s UK business including its manufacturing operation after an attempted management buyout collapsed. The move will offer hope to the group’s 340 staff, including 120 factory [...]
IMF boss says further pain may lie ahead June 15, 2009 DOMINIQUE Strauss-Kahn, the head of the International Monetary Fund (IMF), has spoken out after recent reports of “green shoots”, warning the worst of the global financial crisis may not yet be behind us. Speaking on a visit to Kazakhstan, he said the IMF needed to be cautious about calling an economic recovery, although he said [...]
Hedge funds back on track, says report June 15, 2009 HEDGE funds are once again performing favourably now that outflows have stabilised, according to a report. In its latest investment outlook, Swedish financial group SEB says that the hedge fund industry is over the worst, following its toughest year on record in 2008. The report predicts that strong hedge funds will be able to strengthen [...]
AIG is at war with ex-chief June 15, 2009 AIG began a legal fight with former boss Maurice Greenberg in a New York federal court yesterday, in a bitter fight over disputed assets worth $4.3bn (£2.6bn). Greenberg, chairman of privately-held Starr International, is accused by AIG of snatching the assets unlawfully in 2005. He is due to take the stand to testify this week. [...]
