CITY MOVES WHO’S SWITCHING JOBS August 17, 2009 Cheyne Capital ManagementThe alternative asset manager has appointed Paul Ruddleston and Paul Keohane, pictured, as partners. The pair joins from Morgan Stanley, where they were managing directors and spent a combined 26 years. They will be responsible for managing the Cheyne Equity Macro Fund, along with former colleague and head portfolio manager Jorge Giampaoli, who [...]
Lack of debt sees private equity deals reach lows August 17, 2009 THE LEVEL of investments being made by the private equity industry plummeted by 80 per cent in the first half of the year compared to the same period last year, dropping to a 12-year low of just $24bn (£14.7bn), research showed yesterday. The figures, by International Financial Services London (IFSL), underscore the restrictive effect of [...]
WH Ireland still in the red as market storm prevails August 17, 2009 STOCKBROKER WH Ireland yesterday axed its interim dividend as the market turmoil kept it firmly in the red over the first half of the year. The firm reported a pre-tax loss of £0.523m for the six months to end of May, though this narrowed from the £0.736m loss it reported over the same period last [...]
Myerson ousted at own fund August 17, 2009 ACTIVIST investor Brian Myerson yesterday lost his second corporate tussle of the year as shareholders voted to oust him as manager of South African Property Opportunities (SAPO), the fund he set up in 2006. Myerson’s contract with SAPO includes a 12 month notice period, meaning his management agreement will terminate on 20 October 2010. But [...]
Shaftesbury enjoys West End shoppers August 17, 2009 LANDLORD Shaftesbury said yesterday a record influx of overseas and domestic tourists has boosted tenants in its core West End market. The property firm which owns more than 450 properties in Theatreland, Chinatown and Carnaby Street, said it continued to see healthy demand for its shops, restaurants and residential accommodation. The group said that the [...]
Poor Japanese data hits US stocks August 17, 2009 US stocks suffered their worst loss in seven weeks yesterday as weak data from Japan and a disappointing outlook from retailer Lowe’s dampened hopes about the economy’s growth. Japan’s gross domestic product showed its economy pulled out of recession in the second quarter, but at a slower pace than expected, prompting a sell-off in major [...]
Fears over pace of economic recovery see FTSE stumble August 17, 2009 THE FTSE 100 fell 1.5 per cent by the close yesterday with mining, oil and banking stocks leading the losers, as global markets retracted amid concerns over the pace of global recovery. The index closed 68.96 points lower at 4,645.01, extending losses from Friday when it shed 0.9 per cent and marking its biggest one [...]
Charles Stanley snaps up Matterley August 17, 2009 Charles Stanley said yesterday it had boosted its fund management business by taking over the operations of investment boutique Matterley Asset Management. Matterley, which runs the £2.5m S&W Matterley Undervalued Returns fund, will continue to operate under its own name for a limited period before coming under the Charles Stanley brand. Matterley partners Ian Dighé [...]
BEST OF THE BROKERS August 17, 2009 AEGONNomura said that it sees Aegon’s capital position as being very solid and views the firm as having a “belt and braces” approach to capital management. The broker thinks that the firm’s economic rationale for early repayment to the Dutch government is compelling and rates the stock a “buy” with a €7.00 target price. HAMPSON [...]
Ryanair slashes Manchester routes August 17, 2009 BUDGET airline Ryanair yesterday said it would cut nine of the 10 routes it flies from Manchester and blamed the airport for refusing to cuts its charges. The low-cost carrier said nine routes would be switched or changed as of 1 October, meaning 44 weekly flights will be cut along with 600 local jobs.Most flights [...]
