Facebook ties deal with Spotify September 22, 2011 Facebook has unveiled new features that centre on the way users listen to music and watch TV, offering tie-ups with the likes of Spotify and Hulu, as it attempts to make media an integral part of its service. The features, which also include ways for users to jazz up profiles in a magazine, photo-heavy style, [...]
Private equity deals are laid low September 22, 2011 Private equity-backed deal volume in the third quarter was down nearly 30 per cent to $53.1bn (£34.5bn) from the same period of last year, according to Thomson Reuters data for the three months to 22 September. The figure is also 22 per cent lower compared to the previous quarter. So far in 2011, however, such [...]
Meg Whitman is named new leader of HP September 22, 2011 HEWLETT Packard last night unveiled Meg Whitman as its new chief executive after sensationally axing Leo Apotheker, who had held less the job for than a year. Former eBay chief executive Whitman will be tasked with halting the decline in the firm’s share price, which has tanked 50 per cent in the last twelve months. [...]
UBS cuts under way as Adoboli says he is sorry September 22, 2011 UBS is cutting its investment banking division as the trader accused of a $2.3bn (£1.5bn) fraud yesterday said he was “sorry beyond words”. The bank’s cull represents between five and 10 per cent of the posts within its advisory arm and is part of the 3,500 job cuts announced in August. It is not directly related [...]
BNP Paribas to cut jobs but denies seeking Qatari cash September 22, 2011 BNP Paribas is planning a “significant” round of job cuts across its corporate and investment bank, chief executive Baudouin Prot said yesterday. But he denied reports that the bank is seeking a capital injection from Qatar’s sovereign fund after rumours that it needs more equity swept through markets. Prot said the layoffs would come alongside [...]
Goldman gives new position to Gregg Lemkau September 22, 2011 GOLDMAN Sachs yesterday appointed Gregg Lemkau as the bank’s new head of mergers and acquisitions in the EMEA and Asia Pacific region. The role is a new one for the bank, employees were informed yesterday. Lemkau has been the co-head of the bank’s top-ranking global technology, media and telecom group (TMT), where he has acted [...]
Sage sells its health unit for $320m September 22, 2011 SAGE has agreed to sell its healthcare business to Vista Equity Partners for $320m (£207m). The software firm says it will return all of the proceeds to shareholders through a buyback scheme, adding that the move will enable it to focus on its core US customer base. It said yesterday it had reached a definitive [...]
Breedon to step down from Legal & General September 22, 2011 CHIEF executive Tim Breedon is retiring from Legal & General at the end of 2012, by which time he will have spent 25 years at the insurer. “With the company in excellent shape I feel that next year will be the right time to retire from the company. By giving notice of this now, the [...]
END OF AN ERA AS CITY SAYS FAREWELL TO TOP LINKLATERS PARTNER September 22, 2011 IT WAS “hangover central” in the City yesterday, said one mole, thanks to some enthusiastic networking at the City A.M. awards that continued into the early hours of Thursday morning in the basement nightclub in the Grange Hotel at St Paul’s. However, the retirement party for Linklaters senior partner David Cheyne on the same evening [...]
Omega gets a fresh merger proposition September 22, 2011 SHAREHOLDERS in the loss-making Omega insurance group were yesterday presented with a third takeover proposal for the group. Barbican Insurance, a private group backed by Carlson Capital, said yesterday that it was proposing to be bought by Omega in an initial all-share deal, with no acquisition premium to be paid out to Barbican’s shareholders. The [...]
