News Corp acts on US law breach April 18, 2012 News Corp yesterday suspended half the voting rights of its non-American shareholders to comply with a US law that limits foreign ownership, after the company found it had breached the rule. During a company review, News Corp found voting stock held by foreign investors had risen above the 25 per cent limit set by the [...]
MF Global trustee heads for court April 18, 2012 The trustee liquidating MF Global’s broker-dealer said yesterday a dispute with the broker’s UK affiliate over the rights to about $700m will have to be settled in court. James Giddens, who is in charge of recovering money for customers burned by MF Global’s collapse, said that ongoing resolution talks with administrators for MF’s UK affiliate [...]
UBS’s co-head of US m&a resigns April 18, 2012 UBS’s co-head of US mergers and acquisitions, Ehren Stenzler, resigned from the Swiss bank yesterday, according to a source close to the matter. Stenzler’s move comes a day after the resignation of the bank’s head of Americas investment banking, Aryeh Bourkoff, to whom Stenzler reported. The two are likely to work together on future ventures, [...]
Hindmarch bags the Veuve Clicquot trophy April 18, 2012 THE RISE and rise of British luxury brands got yet another boost last night, when handbag designer Anya Hindmarch was named as the 2012 winner of the Veuve Clicquot Business Woman Award. The sound of popping corks smashing the business world’s glass ceiling resonated around the ballroom at Claridge’s last night, where Hindmarch received her [...]
Lloyd’s given the slip of the Titanic’s rescuer April 18, 2012 THE insurance group Marsh has presented to Lloyd’s of London the original insurance slip for the RMS Carpathia, the ship that rescued more than 700 survivors from the HMS Titanic after she sank 100 years ago (pictured). The insurance slip contains a summary of the Carpathia’s insurance policy and the signatures of more than 80 [...]
Hunt for bank deals boosts prices website April 18, 2012 CONSUMERS’ search for promotional deals on financial services helped Moneysupermarket.com to increase sales at the start of the year. The website said revenues from its money unit, where shoppers can compare banking products such as credit cards and mortgages, leapt 22 per cent after a 20 per cent jump in visitors. It helped push the [...]
Marketing confidence soars in year of Jubilee and Olympics April 18, 2012 MARKETING executives have regained confidence in their companies’ prospects, according to this morning’s IPA Bellwether report which suggests business buoyancy is at a two-year high. The report, which examines data from marketing professionals and provides an insight into the health of the economy, said executives’ confidence in their own companies leaped to 19.1 per cent [...]
Blackberry that costs just £130 targets India April 18, 2012 RESEARCH in Motion (RIM) yesterday launched in India what it called its “most affordable” BlackBerry smartphone as part of an aggressive push in one of its few growing markets. The new Curve 9220 is priced in India at 10,990 rupees (£130), higher than the price of Curve 8520, which is RIM’s best-selling phone in India, [...]
Fresnillo is on golden form as it beats targets April 18, 2012 MINER Fresnillo’s shares surged over three per cent yesterday as it hiked its gold production target after the opening of a new mine in Mexico. Gold production beat targets, soaring 26 per cent to 121,792 ounces in the quarter to the end of March. Fresnillo, which was reporting production figures for the three months to [...]
BHP Billiton sees coal and iron figures hit by rain and strikes April 18, 2012 BHP Billiton yesterday reported a fall in iron ore output after bad weather took its toll. Like rival Rio Tinto, the FTSE 100 miner saw production dip in the first quarter of 2012. Iron ore production was 37.9m tonnes – eight per cent lower compared to the previous quarter. Coal output fell 14 per cent [...]
