What policies do you expect to see in next week’s coalition Budget? March 14, 2012 This week we are asking members of our Voice of the City panel, run in conjunction with PoliticsHome, what they are expecting to see in next Wednesday’s Budget. Will George Osborne make concessions for the Liberal Democrats, for example on a mansion tax? Or will the chancellor budge on his fuel duty plans? And what [...]
GlobeOp investor switches sides March 14, 2012 SS&C’s takeover advances towards GlobeOp Financial Services got a boost yesterday when a prominent shareholder withdrew its support for a rival bid for the hedge fund administrator. Aberforth Partners, which controls around three per cent of GlobeOp stock, said it no longer intended to comply with its letter of intent in favour of TPG’s potential [...]
Game shares take a fresh fall March 14, 2012 Game shares crashed a further 10 per cent yesterday, leaving the stock worth a shade over a penny and the firm with a market cap of £4.5m, as it fights for its survival on the high street. The group warned on Monday that it was “uncertain” whether discussions with lenders and suppliers would succeed, and [...]
Hedge fund launches rebound March 14, 2012 The number of new hedge funds surged last year to the highest level since 2007, despite one of the most miserable annual performances in the industry’s history, according to data released yesterday. The number of new hedge funds totaled 1,113 in 2011, according to fund tracker Hedge Fund Research. While that figure did not eclipse [...]
Desmond hit by challenge to his lottery March 14, 2012 NATIONAL Lottery operator Camelot has launched a judicial review against the Gambling Commission for making a “fundamental error” in approving the Health Lottery, recently launched by Richard Desmond. Camelot said it has been in “ongoing correspondence” with the Commission since the Health Lottery was founded in September by Desmond’s Northern and Shell, which owns Channel [...]
Ofcom gives approval for 4G March 14, 2012 THE NEXT generation of mobile connectivity could be in the UK this year after Ofcom yesterday issued approval for Everything Everywhere to update the airwaves it already owns for 4G use. This comes less than a week after Apple revealed its new iPad would offer a fourth generation (4G) connection, which will give a significantly faster [...]
Ex-News International chief Rebekah Brooks arrested as part of Met probe March 14, 2012 REBEKAH Brooks was arrested yesterday morning as police swooped on six people suspected of conspiracy to pervert the course of justice. The former News International chief executive was arrested at her Oxfordshire home alongside her husband, racehorse trainer Charlie Brooks, in the latest move from Oper-ation Weeting – the Metropolitan Police Service’s inquiry into the [...]
ARM unveils its new chip designed to save energy and control traffic lights March 14, 2012 TABLET and smartphone chip designer Arm has unveiled a micro-processor that will see hundreds of devices connected to the internet to save time and power. The “world’s most energy-efficient” chip design, dubbed Flycatcher, will be used to control appliances such as white goods, traffic lights and medical devices without sacrificing power consumption or space. The [...]
Intel plans strategic shift toward internet television March 14, 2012 CHIPMAKER Intel is developing an internet-based TV service for consumers in a strategic shift from its traditional business, and has reportedly reached out to media companies in a bid to obtain the rights to shows. The world’s top chipmaker plans to create a “virtual cable operator” that would offer TV channels in a bundle over [...]
FORMER IBM CHIEF EARNED $31.8M LAST YEAR March 14, 2012 Former IBM chief executive Sam Palmisano was paid $31.8m (£20.2m) by the tech company in 2011 – his last year at the helm before being replaced by Ginni Rometty. This is slightly more than the $31.7m, including a $1.8m salary, he made the year before. Picture: REUTERS
