Hedgie anger over EU rules March 26, 2012 HEDGE fund and private equity managers are growing increasingly angry over an attempt by Brussels to toughen up a new directive by implementing it without proper consultation. They have also accused the European Commission of rejecting regulatory advice over the introduction of the Alternative Investment Fund Managers (AIFM) directive. One hedge fund insider told City [...]
Taxpayers must not be forced to pay March 26, 2012 IT is clear that the current system of party funding doesn’t work. Parties rely too much on large donations – from wealthy individuals in the case of the Tories and from trade unions in the case of Labour. It would be better if they were able to tap into lots of smaller donations, rather than [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 26, 2012 FINANCIAL TIMES UNIVERSAL TO SELL $200M OF MUSIC CATALOGUES Universal Music is selling three of its music publishing catalogues in a deal valued at up to $200m that will help to maintain Vivendi’s cherished triple-B credit rating as the music company pushes through its planned $1.9bn purchase of EMI. JEFFERIES TO EXPLOIT ITS RIVALS’ TROUBLE [...]
Bernanke wants more QE March 26, 2012 MARKETS rose on hopes of more quantitative easing (QE) yesterday after US Fed chairman Ben Bernanke said the recovery may need more support. The central banker hinted at more money printing, arguing more action should be taken to push boost jobs. “Despite the recent improvement, the job market remains far from normal,” he said. “Further [...]
Fresh probe for Strauss-Kahn March 26, 2012 Former IMF chief Dominique Strauss-Kahn was placed under formal investigation yesterday by authorities looking into a suspected prostitution ring in the French city of Lille, his lawyer said, following a day of questioning by judges in a closed courtroom. The investigation on suspicion of complicity in a pimping operation is the latest judicial headache for [...]
Bumi to unveil board shake-up March 26, 2012 Nat Rothschild is today set to stand down from the chairmanship of Bumi, the coal miner he helped bring to market in London last year, at the request of investors. Indonesian coal entrepreneur Samin Tan, who became a major investor in London-listed Bumi alongside the Bakrie family last year, is to become chairman as part [...]
Game in final battle to find white knight March 26, 2012 MORE THAN 2,000 Game Group staff will be made redundant this week after the video games retailer collapsed into administration yesterday. PwC, the appointed administrator, said 277 stores would be shut with immediate effect, leaving 2,119 employees without jobs including 15 head office staff. The remaining 332 stores employing 2,814 people will stay open as [...]
Treasury met Abu Dhabi to discuss start of RBS sell-off March 26, 2012 THE Treasury has held talks about selling a stake in Royal Bank of Scotland to Abu Dhabi, it emerged last night. Officials have spoken to the emirate’s sovereign wealth funds over the course of several months. Sources said, however, that talks have not reached an advanced stage and a deal is not imminent. The government [...]
MEET THE ADMINISTRATORS March 26, 2012 PwC partners Mike Jervis and Stuart Maddison have been appointed as joint administrators to Game Group’s UK operations after the retailer formally went into administration yesterday. Mike Jervis oversees PwC’s middle market practice in London and works both in an advisory capacity and takes appointment roles, assisting in the reconstruction or sale of businesses. He [...]
Donor dinners: who’s been supping with the PM March 26, 2012 THE CONSERVATIVES yesterday published a list of large donors who have attended dinners at the Prime Minister’s official residences since the coalition was elected in 2010. Tory co-treasurer Peter Cruddas resigned on Sunday after being caught suggesting that big donors could influence Number 10 policy. Meetings between large donors and leaders of political parties are [...]
