Yahoo called to show Thompson hiring process May 7, 2012 ACTIVIST hedge fund Third Point, which has called for Yahoo chief executive Scott Thompson to be ousted for padding his resume, yesterday formally demanded that the internet company provide access to all documents relating to Thompson’s hiring. Third Point chief executive Daniel Loeb, who has been waging a public battle to place his firm’s nominees [...]
RBS picks a second Australian banking boss for its retail arm May 7, 2012 ROYAL BANK of Scotland has once again turned to the Australian banking sector to recruit a boss to lead its UK retail banking arm. Commonwealth Bank of Australia (CBA) said yesterday its group executive of retail banking, Ross McEwan, has resigned and will join RBS to replace Brian Hartzer, who was hired from another Australian [...]
Now pay revolt set to move on to William Hill May 7, 2012 WILLIAM Hill is today expected to become the latest major British company to face a shareholder rebellion over its chief executive’s pay package. A series of investors in Britain’s biggest bookmaker are expected to vote against the pay report after a £1.2 retention bonus was set aside for chief executive Ralph Topping. Sources said, however, [...]
Graff Diamonds starts investor meetings for Hong Kong float May 7, 2012 THE London-based Graff started meeting with investors yesterday to gauge demand for its IPO, with a roadshow set to kick off on 21 May, sources said yesterday. In the coming two weeks, the company, its bankers and advisers will meet with fund managers and institutional investors around the world, before deciding on a price range [...]
Tullow upgrades first Kenyan find and expands exploration May 7, 2012 Tullow Oil has struck more oil in Kenya and plans to drill another well in a nearby block later this year, the Africa-focused British firm said yesterday. Tullow said in March it had struck oil in the well in northern Kenya, the country’s first-ever oil discovery, but has upgraded the oil find following further drilling. [...]
Oracle claims a win in Google copyright case May 7, 2012 A JURY yesterday found that Google infringed upon Oracle’s copyrights on the structure of part of the Java software programming language, in a high stakes trial over smartphone technology. However, the jury failed to decide after days of deliberation whether Google had the right to fair use of that copyrighted structure. The partial verdict was [...]
BORIS GETS BACK TO WORK May 7, 2012 LONDON mayor Boris Johnson has returned to work following his narrow victory in last week’s election. “Our number one priority as a society is to boost growth — and get people into work,” Johnson wrote in his newly-revived Telegraph column yesterday, adding that he will look into why Londoners are losing out to immigrants in [...]
Olympics stress test: Londoners to practise for the Games this week by working from home May 7, 2012 LONDONERS will this week stress test the capital’s readiness for this summer’s Olympics, with just over two months to go until the Games begin. Organised by Deloitte and Canary Wharf Group, up to 100 London firms will today and tomorrow perform a trial run of their plans for the Olympics, “to warm up for the [...]
Hong Kong eyes London Metal Exchange as final bids are made May 7, 2012 HONG Kong Exchanges and Clearing yesterday said it was confident of winning an auction to take over the London Metal Exchange, the world’s largest metals trading market. Speaking after the world’s second-biggest bourse operator by market value posted a seven per cent dip in quarterly profit, HKEx chief exec Charles Li declined to be drawn [...]
Berkshire Hathaway piles into US stocks despite market dip May 7, 2012 BERKSHIRE Hathaway is adding to its shareholdings of two US companies amid a market dip, billionaire investor Warren Buffett said yesterday. Buffett, Berkshire’s controlling shareholder, also forecast record results this year for Berkshire’s largest non-insurance businesses, among them railroad BNSF and utility MidAmerican. Berkshire class B shares led the insurance sector to close 1.9 per [...]
