WHAT THE OTHER PAPERS SAY THIS MORNING June 7, 2010 FINANCIAL TIMES ROCKHOPPER set for $40m CASh CALL Rockhopper, the first explorer to find oil on the Falkland Islands, is priming a £40m cash call that could be launched this week. The Aim-quoted oil company, one of three small UK wildcat explorers drilling for Falklands oil, has been working with broker Canaccord Adams to sound [...]
New iPhone heralds war with Google June 7, 2010 APPLE boss Steve Jobs last night unveiled his “new baby” – the iPhone 4. Jobs said the phone is a complete overhaul of the firm’s hugely successful 3GS phone, claiming it is “beyond a doubt one of the most beautiful things we’ve ever made”. It is made of glass and steel, with an HD screen [...]
Watchdog hits out at Goldman probe response June 7, 2010 GOLDMAN Sachs has been slammed by the US Financial Crisis Inquiry Commission (FCIC) after it responded to a subpoena for information by “dumping a load of rubbish” outside the organisation’s office. Goldman supplied 2.5bn pages of information while failing to answer some key questions, according to commission chairman Phil Angelides. The FCIC had asked Goldman [...]
BP TOP DOGS SPOTTED OUT ON A TOP-SECRET MAYFAIR MISSION June 7, 2010 A STERLING spot by one of The Capitalist’s army of spies yesterday, on the way to a meeting at an office building on Old Burlington Street. Stepping out of the lift in the building were none other than beleaguered BP chief executive Tony Hayward and his finance director Byron Grote – taking some time out [...]
EU seeks deal on safety net as cuts begin June 7, 2010 EUROPEAN finance ministers yesterday sought to calm nervous markets by nailing down details of a massive financial safety net for the eurozone as Germany unveiled new budget cuts it hopes will set an example for its partners in the bloc. German Chancellor Angela Merkel’s coalition agreed to pursue savings of €11.2bn (£9bn next year, part [...]
Why the IoD backs City A.M.’s CGT campaign June 7, 2010 THE Institute of Directors (IoD) is against any proposal which raises Capital Gains Tax (CGT) to income tax levels and is delighted to support CityA.M.’s campaign. Our reasons are straightforward. Like City A.M. we believe the proposal would hit thousands of ordinary employees and investors vital to business investment and economic growth. Of course, ideally [...]
Marsh & McLennan sells Kroll to former chief exec June 7, 2010 MARSH & McLennan agreed to sell investigations unit Kroll to a firm led by former Marsh chief executive Michael Cherkasky for $1.13bn, less than the amount the insurance broker paid for it six years ago. MMC said yesterday it plans to sell Kroll — a corporate sleuth and intelligence expert that has expanded into risk [...]
BNP Paribas to merge private banking arms June 7, 2010 BNP Paribas will merge its private bank activities with Fortis Private Investment Management and Insinger de Beaufort UK, the two firms it acquired last year. The integrated operation will be branded BNP Paribas Wealth Management and will offer a range of investment services as well as financing and structuring for both onshore and international clients. [...]
Future looks rosé for wine traders as the world’s first live index is launched June 7, 2010 LEADING wine merchant Bordeaux Index has launched the world’s first live wine trading index. The online index will allow clients to track changes in wine prices in real-time. It will track up to 100 of the most liquidly traded wines on its LiveTrade market-making platform. Users will also be able to view individual price graphs [...]
World Cup is insured for over £6.2bn June 7, 2010 WHILE football fans across the world prepare for the elation and heart-break of the World Cup, insurers are ready for an even higher-stakes tournament. The month-long finals have been insured for £6.2bn according to Lloyds of London, the world’s biggest insurance market. The vast sum is made up of thousands of policies taken out by [...]
