Gibraltar eyes larger hedge fund sector May 26, 2010 GIBRALTAR is looking to grow as an international destination for hedge funds as the prospect of tighter regulation makes more exotic jurisdictions appear less attractive. Senior figures said the British territory, which is part of the European Union, could benefit from the forthcoming Alternative Investment Fund Managers directive which will make it harder for non-EU [...]
Royal Mail eyes Can Post boss May 26, 2010 CANADA POST chief executive Moya Greene has emerged as the frontrunner to head up Royal Mail. Greene, who has held the top post at the Canadian mail service since 2005, is understood to have held talks with Royal Mail board members and ministers to fill outgoing chief executive Adam Crozier’s role. Royal Mail would not [...]
Iceland told to compensate UK Icesave investors May 26, 2010 ICELAND should ensure that Dutch and British investors in failed bank Icesave receive at least minimum compensation for lost deposits, a European trade body overseeing Iceland’s cooperation with the EU (EFTA) said yesterday. The British and Dutch governments paid out billions of euros to depositors whose funds were frozen in failed online Icelandic bank Icesave [...]
City commercial property figures to tell conference about upward trends May 26, 2010 LONDON’S commercial property market is in an upward swing, according to City figures who feel bullish about the city’s future. A delegation of members from the commercial property sector will today hear the challenges and reality of London’s future as a world city at the annual British Council for Offices. Held for the first time [...]
Commerzbank and Kfw join forces to launch fund May 26, 2010 COMMERZBANK and the German state development bank KfW are planning to launch a massive fund for Germany’s critical small and mid-sized companies dubbed collectively the Mittelstand. The administrative council of the KfW is due to meet on 10 June to decide on the fund, whose volume would be between €300m-€500m, according to the Financial Times [...]
BEST OF THE BROKERS May 26, 2010 THORNTONS Execution Noble reiterates its “sell” rating on Thorntons. The group’s profit warning and the resignation of the chief executive shows that it is time for a new plan, according to Execution, which sees no catalyst for a positive investment case until the appointment of a new chief and the formulation of a plan that [...]
Brewin profit jumps despite market havoc May 26, 2010 INVESTMENT manager and stockbroker Brewin Dolphin saw its profits jump over the first half of the year as it benefited from the long-term outlook of many of its risk-averse clients. Brewin Dolphin posted a pre-tax profit of £15.2m for the half-year to March, 37 per cent above the £11.1m it made in the corresponding six [...]
For corporate advisers, small can be beautiful May 26, 2010 BEING a mergers and acquisitions (M&A) banker in one of the bulge bracket banks used to be a fast-track way to find yourself labelled one of the elite Masters of the Universe. But these days it is as easy to find the rising stars of corporate finance in smaller advisory boutiques. Recent data for the [...]
Facebook boosts privacy controls May 26, 2010 FACEBOOK has announced efforts to better guard the privacy of its more than 400m users, addressing mounting pressure on the world’s most popular online social network to protect personal data exchanged on its site. Facebook chief executive Mark Zuckerberg said yesterday his firm would soon make it easier for users to change privacy settings, giving [...]
AstraZenca nabs Pfizer’s top man May 26, 2010 TOP Pfizer research executive Martin Mackay has left the world’s biggest drugmaker to head research at rival AstraZeneca as both companies brace for patent expirations on their top-selling medications. Pfizer will consolidate its research and development under Mikael Dolsten, who had worked with Mackay as co-head of research and development since October in a split [...]
