Goldman Sachs starts staff cull March 19, 2012 Goldman Sachs has begun a new round of staff cuts in its trading and investment banking divisions, three sources familiar with the matter said, a sign of a continued penny-pinching at the biggest banks. The job cuts follow 2,400 positions Goldman eliminated last year. The latest round of cuts is part of Goldman’s annual culling [...]
Facebook banks get small fee March 19, 2012 Facebook will pay a fee of just 1.1 per cent to underwriters of its initial public offering, a source with knowledge of the company’s plans said yesterday. Facebook’s underwriters include Morgan Stanley, JP Morgan, Goldman Sachs, Bank of America, Barclays and Allen & Co. Earlier this month, the company also named an additional 25 banks [...]
Apple bites the bullet on divi payouts March 19, 2012 APPLE announced yesterday it will pay investors a quarterly dividend of $2.65 per share from July, ending a dry spell for shareholders that has lasted more than 16 years. Turning his back on Steve Jobs’ firm policy of not paying dividends, Apple boss Tim Cook re-introduced the payout – which will cost $9.88bn a year [...]
EU faces lawsuit from Deutsche Boerse over deal March 19, 2012 DEUTSCHE Boerse plans to sue the European Commission for blocking its $9bn (£5bn) merger with NYSE Euronext, to recoup merger costs and keep the door open for future deals in the derivative markets. The European Commission’s antitrust authorities blocked the tie-in last month, saying it would have led to a near-monopoly in European financial derivatives [...]
Vista offer for Misys prompts shares to soar March 19, 2012 AN ANIMATED market reaction yesterday sent Misys’ shares above the bid price from Vista Equity Partners, which yesterday offered Misys a £1.27bn route to salvation one week after Temenos walked away from a merger deal with the banking software firm. Vista, a US-based private equity firm, said it was prepared to lay out 350p per [...]
…But ValueAct reminds investors it could yet bid March 19, 2012 WITH bidding partners ValueAct and CVC urging shareholders to take no action, and the market driving Misys’ share price above the offer from Vista, the future of the banking software firm is by no means clear. Misys acting chief executive Tom Kilroy said the board thinks “this is likely to be the best deal available,” [...]
Minimum wage rise kept down to help firms hire March 19, 2012 THE MINIMUM wage will be increased in October for most workers, the government announced yesterday – but those under the age of 21 will not see their pay rise as ministers fear it could price them out of the labour market. Adults aged 21 or over must be paid at least £6.19 per hour from [...]
Consumers call for fuel tax cut March 19, 2012 Consumer groups have stepped up pressure on the chancellor to relieve motorists from the soaring cost of petrol. A survey by Money Supermarket yesterday claimed that almost four in 10 Brits believe a cut in fuel duty would help the economy grow, and less than one in ten would like the levy kept on its [...]
MPs lobby for video games help March 19, 2012 A group of MPs has written to the chancellor asking for the video games industry to be given tax breaks in Britain. Members of the all-party computer and video games industry group has called for tax relief for the fast-growing sector, a step that it claims could create more than 4,000 jobs over the next [...]
Private funds show interest in toll roads March 19, 2012 PENSION funds have agreed to invest £2bn in infrastructure projects by the end of next year, David Cameron announced yesterday, beginning what the government hopes will become a flood of private sector investment. He told an audience of engineers that the country needs an extra £500bn of investment to update and replace its aging infrastructure, [...]
