Former Gartmore stars mull new alliance April 10, 2011 Guillaume Rambourg and Roger Guy could launch a new hedge fund as soon as this year, according to City sources. Rambourg has been holding preliminary talks with a number of people about his future since being cleared of wrongdoing by the Financial Services Authority (FSA) last month, although analysts say he is likely to move [...]
Tough week ahead for BP April 10, 2011 BP chief executive Bob Dudley is facing a particularly gruelling week, with a deadline for the firm’s £10bn share swap with Rosneft due on Thursday, the same day as the oil giant’s first annual shareholder meeting since last April’s Gulf of Mexico spill. BP management are expected to come under fire at the firm’s AGM, [...]
All3Media to crack the US by trade sale April 10, 2011 THE TELEVISION production company behind Peep Show, Shameless and Midsomer Murders, All3Media, has called in UBS to undertake a strategic review of the firm as it eyes the US to fuel its global growth ambitions. Following reports at the weekend that ITV has rejected the idea of buying the TV production group, the most likely [...]
Businesses should take a lesson from Twitter April 10, 2011 I anchored CNBC’s coverage of the European Central Bank (ECB) Rate Decision Special show last week. This involved saying: “Welcome to CNBC. Jean-Claude Trichet is speaking. Let’s listen in,” then tweeting snippets of the proceedings to my Twitter followers, of whom there are literally dozens, including several who think I’m the librarian in Massachusetts who [...]
Shell to join Chevron gas project April 10, 2011 Energy giant Chevron said yesterday that Royal Dutch Shell will join its Wheatstone liquefied natural gas (LNG) project off the coast of Western Australia as an equity participant and natural gas supplier to the project. Chevron will sell 6.4 per cent of its stake to Shell and remain the operator of the project with 73.6 per [...]
Egypt inflation hits 11-month high April 10, 2011 Urban consumer inflation in Egypt accelerated in the year to March to an 11-month high, pushed up by soaring food prices that contributed to the mass protests that eventually toppled president Hosni Mubarak. Urban consumer inflation in Egypt rose to 11.5 per cent in the 12 months to March, its highest level since April 2010, [...]
CITY MOVES | WHO’S SWITCHING JOBS April 10, 2011 Cazenove Capital Euan Dangerfield has been confirmed as the head of Cazenove’s private wealth management team in Jersey, effective from 4 July. Dangerfield will sit on the board of Cazenove Capital Management (Jersey), subject to regulatory approval, and will take responsibility for the Jersey office, including marketing the firm’s wealth management services. Euan joins from [...]
BEST OF THE BROKERS April 10, 2011 PREMIER FOODS Investec rates the food maker “hold” with a target price of 35p. The broker believes Premier has made itself investable again following a balance sheet restructure, although the stock is seen as a long-term play due to short-term trading headwinds that will make it difficult for the firm to meet its cash generation [...]
Euro fears to take edge off FTSE rally this week April 10, 2011 SURGING commodity prices spurred UK shares on to another weekly gain on Friday, and a seven-week high for the blue-chip FTSE 100 index. Yet we expect the market to take a hit on th open this morning, with focus shifting back towards Europe. In out-of-hours trading, GFT is forecasting the UK index to open down [...]
WALL STREET WEEK AHEAD April 10, 2011 The upcoming US earnings season may not be the time for investors to buy aggressively, because this year’s winners already reflect earnings optimism. The first-quarter reporting period, which begins today with results from aluminium company Alcoa, follows three months of solid gains that have brought stocks close to two-and-half-year highs. Other top names reporting next [...]
