‘If we’re serious about growth this is the lever to pull’, says Treasury adviser – as founders feel undervalued
MySpace is in talks with Activision boss June 9, 2011 TROUBLED social network MySpace is in final talks over a sale to Activision Blizzard chief executive Bobby Kotick. It is understood Kotick’s involvement is not linked to his Activision role. MySpace owner News Corp, which paid $580m (£354m) for Myspace in 2005, may seek to retain a 20 per cent holding as part of the [...]
Goldman fined for priority tips June 9, 2011 GOLDMAN Sachs yesterday said it would pay a $10m (£6.1m) fine and stop giving favoured clients trading ideas developed at internal gatherings known as “trading huddles”. Goldman analysts had been accused of giving “priority” clients short-term trading tips that may have been at odds with the bank’s published research. Analysts and traders began holding huddles [...]
Spanish Atento float in doubt June 9, 2011 THE €1.15bn (£1.02bn) float of Atento, the call centre unit of Spain’s biggest telecoms company Telefonica, was in doubt last night after bankers had to slash the offer price to lure investors. STJ Advisors, the boutique capital markets bank that has in the past accused larger banks of undervaluing floats, is advising on the deal, with Goldman [...]
Calls for reform of Keydata charges June 9, 2011 REGULATION that has forced the City to pay almost £500m to compensate clients of failed investment firms in the past three years needs urgent reform, an industry leader said yesterday. Douglas Ferrans, chairman of the Investment Management Association, called for an independent review into the Financial Services Compensation Scheme, which charges investment managers for the [...]
Sir Stuart Rose got an £8.1m golden goodbye June 9, 2011 SIR Stuart Rose was handed an £8.1m golden goodbye when he left Marks & Spencer last year, according to the retailer’s annual report. The former chief executive and executive chairman received a pay packet worth £2.77m in 2010-11, compared to £2.6m a year earlier, plus over £5m in shares. Marc Bolland, who became chief executive [...]
GLOBAL FINANCIERS WALK PURPLE CARPET AT GLITZY HEDGIE BASH June 9, 2011 THE City’s big-name philanthropists descended on Kensington Palace gardens last night for the tenth anniversary gala hosted by Absolute Return for Kids (Ark). Walking the purple carpet to the cavernous marquee in Perks Field were One Hyde Park developer Nick Candy; Elisabeth Murdoch, chairman and chief executive of Shine Group; Winton Capital founder David Harding; [...]
Wimbledon can get ready for Murray-mania June 9, 2011 British star claims he’s on the mend ahead of SW19 campaign after hard-fought victory over Tispsarevic BRITISH tennis fans can begin to prepare for their annual instalment of Wimbledon based Murray-mania after the Scot passed the stiffest test yet of his damaged ankle at Queen’s Club yesterday. Murray’s participation at SW19 has looked anything but [...]
Barca cast doubt on Fabregas deal with debt pledge June 9, 2011 BARCELONA have cast fresh doubt on the future of Arsenal captain Cesc Fabregas by insisting their summer transfer budget is strictly limited to £40m. In a highly unusual step, the European champions announced the size of their kitty and vowed to tighten their belts with the aim of clearing a £430m debt pile in just [...]
Rugby’s phoenix still on the rise June 9, 2011 ANYONE who had even whispered talk of a return to the Premiership when London Scottish were at rock bottom a decade ago would have been wheeled off by men in white coats, suspected of suffering one high tackle too many. Relegated nine divisions after an ownership disaster dragged them into administration just after the advent [...]
Sri Lankans turn to Jayasuria June 9, 2011 SRI LANKA batsman Sanath Jayasuria is set for an unexpected swansong in the upcoming limited overs series against England. With Upul Tharanga ruled out of the rest of the tour having reportedly failed a drugs test during the World Cup the tourists have turned to the 41-year-old veteran to dig them out of a hole. [...]
