JP Morgan and Merrill hang on to top spots April 10, 2012 BANK of America Merrill Lynch has held on to its second place spot in a global league table of investment banks, Thomson Reuters data showed yesterday. Despite management troubles in its European business this year that have seen star banker Andrea Orcel decamp to UBS, BAML is still at the top end of the table, [...]
Investment bank fees fall by 14pc in first quarter of 2012 April 10, 2012 INVESTMENT banks earned $17.6bn in fees during first quarter of 2012 – a 14 per cent decline on the same period last year, according to research by data provider Thomson Reuters. Fees fell sharpest in the EMEA and Asia Pacific regions, with both areas registering a decline of more than 20 per cent. There was [...]
Logica execs turn down their bonuses after shares tumble April 10, 2012 TOP BOSSES at IT outsourcing group Logica have turned down bonuses worth around £1m for the year after the firm’s profits fell and it was forced to announce a costly restructuring. No bonuses or new share awards were granted to chief executive Andy Green and outgoing Benelux chief Seamus Keating to acknowledge the “impact of [...]
Extension for Edinburgh Airport bids April 10, 2012 FERROVIAL-owned BAA will extend the bid deadline for its sale of Edinburgh Airport beyond the end of this week to give JP Morgan’s bidding group more time, according to sources close to the sale process. Global Infrastructure Partners (GIP) – which owns London’s Gatwick and City airports – and a JP Morgan-led consortium are to [...]
Petrol prices hit new record April 10, 2012 THE PRICE of unleaded petrol hit a fresh all-time high yesterday after levelling off over the Easter weekend. A litre of unleaded cost an average of 142.27p, up from 142.1p before the bank holidays, the AA said. Diesel has remained broadly flat at 147.8p.
Best Buy chief out amid probe over conduct April 10, 2012 BEST BUY chief executive Brian Dunn has left the world’s largest consumer electronics chain, which has struggled against stepped-up competition from internet retailers and discounters. A spokesperson said the company veteran had left after “certain issues were brought to the board’s attention regarding Mr Dunn’s personal conduct”. The firm said his conduct was not related [...]
Lawyers turning to US firms for higher pay and career prospects April 10, 2012 UK-QUALIFIED lawyers have cited higher salaries and better career prospects as the key drivers for joining US firms, according to a survey out yesterday. Despite expecting to work longer hours when working for an American firm, more than 23 per cent of associates surveyed by The Lawyer magazine said they joined the London offices of [...]
£190m IPO for Russian miner April 10, 2012 PLATINUM miner and producer Russian Platinum is considering going public to raise around $300m (£189m), according to reports from Moscow. The company may hire Morgan Stanley and Goldman Sachs, a source told Reuters. Russian Platinum, formed in 2011 from producer Amur’s platinum assets, produced 3.7 tonnes of platinum last year. A company spokesperson declined to [...]
Blinkx revenues set to fall short April 10, 2012 FAST growing video search engine Blinkx stumbled yesterday with the announcement that revenue for the year would fall short of analysts’ expectations. The company said it was disappointed to announce that revenue for the year to the end of March would rise by about 72 per cent to be about $114m. Analysts were expecting an [...]
DAME HELEN ALEXANDER TAKES UBM CHAIR April 10, 2012 DAME Helen Alexander, the former president of the CBI and chief executive of the Economist Group, has joined events organiser UBM as chair. Dame Helen also chairs the board of publisher Incisive Media, and will succeed the incumbent chairman – US investment banker John Botts – next month.
