IBM to take over British-based cloud software company Daeja September 19, 2013 IBM has bought out a Milton Keynes-based document sharing company for an undisclosed sum as part of its push into cloud computing. The American software giant yesterday announced that it had snapped up Daeja Image Systems, whose products allow businesses to more easily view and access information from any location, regardless of where the original [...]
Partnership slumps in trading after being linked to FCA probe September 19, 2013 PARTNERSHIP Assurance, the recently floated life insurer, plunged in trading yesterday after it was linked to a Financial Conduct Authority (FCA) probe into potential rule breaches over adviser payments. On Wednesday the FCA said two life insurance firms were being investigated over suspicions they had arrangements in place that could influence advisers, contrary to new [...]
Private equity fund structures to morph amid investor cynicism September 19, 2013 CYNICAL investors are driving a rapid change in how private equity firms structure investments and raise money, a fresh survey out yesterday shows. Over half of the 156 executives polled said private equity investors – so called limited partners (LPs) – were demanding more information and greater oversight of investments made by firms during the [...]
Sony aims high with goal to sell 5m Playstation 4s before March September 19, 2013 SONY is betting on initial Playstation 4 sales being 40 per cent higher than its last home game console which cost more to build and buy, raising the prospect of a quicker return to help revive its consumer electronics business. The console goes on sale at almost the same time as Microsoft’s Xbox One, and [...]
Seven towers in seven hours for property firm September 19, 2013 STAFF at real estate brokers Cushman & Wakefield are getting their boots ready for a whole lot of walking today. All 62 members of the firm’s London markets team will be ascending – on foot – seven of the Square Mile’s most iconic skyscrapers. The 5,762 steps needed to climb the stairs of Centre Point, [...]
It’s raining runners: Hundreds turn out for annual relay race September 19, 2013 THE SQUARE Mile’s many sporting fanatics were out in force last night, despite the wet weather, for the annual Bloomberg Square Mile Relay. The race sees around 100 teams of ten runners competing over a specially-designed mile-long course, including reigning champions Barclays and previous medal-winners Legal & General and Macquarie. As usual there was fighting [...]
Gulf Keystone shares dive as court win fades September 19, 2013 OIL AND gas explorer Gulf Keystone Petroleum yesterday said it is confident that it can more than double production at a Kurdistan oil field by the end of the year, yet its stock dropped by over eight per cent having soared last week. An arduous court battle over the Kurdistan assets ended in its favour [...]
United Utilities on track despite the recession hitting revenues September 19, 2013 FTSE 100-listed United Utilities yesterday said that trading had been in line with expectations for the past six months and that it “remains firmly on track” to deliver its targets. The utility firm said that revenue is expected to be higher this year than the first half of last year due to the regulator Ofwat’s [...]
Publicis Groupe to boost UK services with London ad firm September 19, 2013 PUBLICIS Groupe, the French advertising giant, bought London-based digital creative agency Poke yesterday for an undisclosed sum. Publicis worldwide executive chairman, Jean-Yves Naouri, said the acquisition would help boost the group’s UK services. “This acquisition will further strengthen our Publicis UK offering by adding a new level of digital expertise, creativity and innovation to the [...]
African Barrick Gold appoints Andrew Wray as finance chief September 19, 2013 AFRICAN Barrick Gold, the struggling FTSE 250-listed miner with a revolving-door management team of late, yesterday said it has hired insider Andrew Wray as its permanent chief financial officer. Wray joined the firm as head of corporate development and investor relations in 2010 and replaces interim chief financial officer Jaco Maritz, who will revert to [...]
