Assets jump to record £31bn at St James’s May 3, 2012 ST JAMES’S Place yesterday overcame lingering fears over the Eurozone to post a record level of funds under management. The wealth manager, 60 per cent owned by Lloyds Banking Group, said assets rose nine per cent to £31bn during the first quarter of this year, due in part to the performance of its existing funds. [...]
THE SCREAM SELLS FOR $120M AT AUCTION May 3, 2012 EDVARD Munch’s masterpiece “The Scream,” one of the world’s most recognisable works of art, sold for $120m (£74m) at Sotheby’s on Wednesday night, setting a new record as the most expensive piece of art ever sold at auction. A so-far anonymous telephone bidder secured the vibrant painting after a near 15-minute bidding war.
Merlin goes from major to minor May 3, 2012 There was a time when the rights agency group Merlin dubbed itself the “virtual fifth major” in the music world, fancying itself as rubbing shoulders with major record labels Universal, Sony BMG, EMI and Warner. The description gave the group, which represents a series of independent labels producing music from artists including Adele, Arctic Monkeys [...]
RBC backs Race for Kids May 3, 2012 RBC, the Canadian bank that is busy growing its London presence, has been named as the title sponsor for the Great Ormond Street Hospital Children’s Charity annual 5km family fun run on Sunday 24 June. Last year’s race (also sponsored by RBC) raised over £400,000 towards the redevelopment of the hospital, with Linford Christie joining [...]
LONDON 2012 IMAGE OF THE WEEK May 3, 2012 LONDON 2012 is joining up with British Airways to create Park Live, an outdoor venue set in the newly-created 250 acres of Olympic parklands. A giant double-sided screen, sitting in the River Lea, will broadcast live Olympic coverage for those without tickets for sporting events. Other entertainment will include visits from athletes. Between now and [...]
BG Group sells Comgas stake in a £1bn deal May 3, 2012 GAS and oil producer BG Group said yesterday it had agreed to sell its Brazil gas distribution business Comgas to Cosan for $1.8bn (£1.1bn) as it unveiled soaring first quarter profits on the back of higher oil prices and production. BG is selling its 60 per cent stake in Comgas as part of a $5bn [...]
Bumi arm makes Samin Tan its president as his power grows May 3, 2012 CHAIRMAN of mining company Bumi, Samin Tan, was yesterday named as president director of Bumi Resource Minerals (BRM). BRM is a company listed on the Jakarta Stock Exchange and the appointment was made at an extraordinary general meeting. Tan replaces Ken Farrell in the role, the company said in a market statement. Farrell, an Australian, [...]
Cobham sweetens its offer to £275m to secure Thrane deal May 3, 2012 AERO electronics group Cobham has agreed to buy Danish rival Thrane & Thrane after its increased offer of £275m was accepted by the board of the satellite communications equipment maker. Thrane & Thrane shareholders will be offered 435 Danish crowns (£47.54) in cash for each Thrane & Thrane share, an increase of 15 Danish crowns [...]
US corporate results round up May 3, 2012 Viacom beats Street view VIACOM posted a higher-than-expected quarterly profit yesterday, boosted by an increase in revenue from its cable networks’ fees and digital licensing of its TV shows and movies. The parent of MTV and Nickelodeon benefited mainly from an increase in affiliate fee revenue from cable and satellite distributors. Net income rose to [...]
Randgold profit rises as boss lifts lid on Mali coup tensions May 3, 2012 RANDGOLD Resources chief executive Mark Bristow yesterday told how he had dug in at his company’s Mali headquarters as the country teetered on the brink of civil war. The South African said that he was leading by example and could not leave his staff to face the crisis engulfing the country alone. “I had to [...]
