Turquoise suspends trading June 10, 2009 Pan-European trading platform Turquoise suspended trading for three and a half hours yesterday morning due to a technical issue with the system. This is not the first time in its young life that Turquoise has seen trading disrupted. In September, just weeks into its phased launch, the platform was hit by technical glitches.
Genting buys into MGM Mirage June 10, 2009 Malaysian gaming group Genting has paid $100m (£60m) for a 3.2 per cent stake in US casino operator MGM Mirage, in a move to broaden its portfolio of strategic investments. Genting and its unit Resorts World had earlier subscribed for a combined $100m worth of notes issued by MGM Mirage last month. The debt papers [...]
Tensions grow at Boston Globe June 10, 2009 The Boston Newspaper Guild filed a complaint with the National Labor Relations Board against the New York Times group yesterday, after the owner of the Boston Globe said it will cut union members’ pay by 23 per cent. Tensions were deepening after the guild, the Boston Globe’s largest union, had rejected a $10m (£6m) package [...]
CITY MOVES WHO’S SWITCHING JOBS June 10, 2009 List GroupThe markets software provider has appointed Antonio Attanasio (left) as chief marketing officer and Marco de Matti as a sales manager. Attanasio will oversee the firm’s marketing strategy and also work with its quantitative finance division, FMR Consulting. He has worked at Reuters, Dow Jones and GL Trade. De Matti joins from business process [...]
J Sainsbury gives King a royal payout June 10, 2009 SUPERMARKET giant J Sainsbury handed out £5m in pay and share bonuses last year to chief executive Justin King after he hit performance targets, it was revealed yesterday. After receiving a basic salary of £872,000 for the 52 weeks ended 21 March 2009, King then received a further £1.17m in bonuses, pension supplements and benefits. [...]
IS HALFORDS ON TRACK FOR ANOTHER IMPRESSIVE YEAR? June 10, 2009 JOHN STEVENSON KBC PEEL HUNT“Halfords announced an adjusted pre-tax profit of £92.4m, in keeping with our forecasts. Cycling and car maintenance continue to deliver healthy sales growth. While the short-term economic environment remains difficult, Halfords aims to open a further 10 stores in the second half of the year.” MANOJ LADWA ETX CAPITAL“On a day [...]
Plus Markets sees jump in May trading volumes June 10, 2009 STOCK exchange group Plus Markets saw trading volumes soar in May this year as it continues to push itself as a major competitor in the trading arena. Volumes rose 302 per cent to a total of 6.19bn compared to May 2008, while trade value rose by 142 per cent year-on-year to £6.14bn. Average daily trade [...]
Hedge funds eye M&A deals June 10, 2009 THE beleaguered hedge fund industry is rife with talk of consolidation, as dwindling asset bases eat into these company profits, with the key barriers likely to be hedge fund managers’ egos and poor rewards for sellers. Man Group and RAB Capital have both indicated they are in the market for smaller hedge funds, while Cheyne [...]
Halfords gets a boost from Brits on bikes June 10, 2009 HALFORDS, the car maintenance and bicycle retailer, yesterday reported a 2.4 per cent rise in full-year profits to £92.4m as the demand for bikes and camping equipment surges in the downturn. Finance director Nick Waller said: “The demand for bikes is sustainable, people are using cycling to beat congestion, for economic reasons and increasingly to [...]
When weather is a matter of life and death June 10, 2009 TURBULENCEBy Giles FodenFABER & FABER, £16.99 GILES FODEN’S The Last King of Scotland was a masterful book and became a masterful film because of its compelling combination of historical fact, fiction and painstakingly realised detail in an unusual context. It is reason enough for Turbulence, his latest piece of historical fiction, to be read with [...]
