Eaton Vance attracts less cash August 17, 2011 Asset manager Eaton Vance Corp said quarterly profit jumped 63 per cent, but net inflows of cash from investors declined amid volatile markets. Like other asset managers whose prospects are closely tied to market indices, Eaton Vance investments have been whipsawed by recent market shocks. The concern is that volatility will make investors more reluctant [...]
Sweden can seize Saab assets August 17, 2011 Sweden’s debt enforcement agency is preparing to seize assets of troubled car maker Saab in an attempt to recover at least 4m Swedish crowns owed to parts suppliers. The agency can now seize assets, including any cash in Saab’s bank accounts. Car production at the cash-strapped company, rescued in early 2010 by Netherlands-based Swedish Automobile, [...]
Pearson in line for sale windfall August 17, 2011 Publisher Pearson yesterday unveiled a $115m (£69.4m) windfall from the sale of its government solutions business in 2006. Pearson, owner of the Financial Times and book brand Penguin, sold the US-based government solutions arm to private equity group Veritas five years ago for $600m but retained an equity stake under the name Vangent. Now that [...]
CITY MOVES | WHO’S SWITCHING JOBS August 17, 2011 Stephenson Harwood The law firm has strengthened its projects team by hiring Jonathan Cripps and Rebecca Carter (pictured) as partners. Cripps and Carter join from Eversheds, where they acted for public and private sector infrastucture clients including the Ministry of Justice, the North London Waste Authority and the Office of Government Commerce. The firm has [...]
BEST OF THE BROKERS August 17, 2011 DIAGEO UBS rates the drinks company “buy” with a target price of 1,425p. The broker believes Diageo will ramp up advertising spending in the medium-term, helping prop up double-digit sales growth in new markets to minimie the effects of an expected seven per cent fall in Europe. UBS also expects Diageo to use its strong [...]
Falling financial stocks drag FTSE lower amid euro fears August 17, 2011 Weaker financial stocks led British shares lower yeterday as the outcome of a Franco-German summit left investors still anxious about the Eurozone debt crisis and concerned about the impact of plans for a new tax on the industry. The FTSE 100 index closed down 0.5 per cent at 5,331.60, having at one stage dropped back [...]
Tech stocks drop on weak Dell results August 17, 2011 TECH shares fell yesterday after Dell’s disappointing sales outlook fanned worries weak economic growth will hurt earnings in the third quarter. The Dow and S&P indices ended little changed in an up-and-down session where investors sold growth sectors in favor of defensive shares like telecoms and utilities. Computer maker Dell was the S&P’s worst performer, [...]
The man from Icann is after new net gains August 17, 2011 JANUARY 2012 marks the start of “a whole new commercial phase for the internet”. And Peter Dengate Thrush (pictured, right) should know – as the former chairman of the board of Icann, the body responsible for the internet’s top-level domain name management, he oversaw the introduction of the reforms that are about to upend the [...]
Other Aim-listed companies to consider August 17, 2011 ON THE difference between buying small as opposed to large company stocks, investment guru Jim Slater notably remarked: “Elephants don’t gallop.” While true, the worry for many investors is that instead of lasting 70 years, many Aim-listed companies have a life expectancy closer to that of the mayfly. However, not all Aim companies are born [...]
Merkozy’s business-killing tax plans August 17, 2011 TUESDAY’S announcement by Angela Merkel and Nicolas Sarkozy that they intend to implement a financial transactions tax in the EU was bad news all round. But such a tax would be particularly damaging to those within the forex market. Forex is the largest financial market in the world, with a £2.5 trillion average daily turnover. [...]
