North Sea oil groups reconsider strategies March 27, 2011 OIL FIRMS in the North Sea remain lucrative, a report out today claims, despite a number of firms hastily rewriting their strategies in the wake of the shock North Sea oil profit tax announced in last week’s Budget. Independent firms such as Premier, Nautical and Encore have a strong enough financial base and approach to [...]
Lehman investors in HK to be repaid March 27, 2011 SIXTEEN Hong Kong banks have agreed on a deal to enable investors in structured products of the now bankrupt Lehman Brothers recover a majority of their investments. Investors in Hong Kong lost nearly HK$2.5bn (£199m) on structured products, called “minibonds” offered by US investment bank Lehman Brothers, which collapsed in 2008. A statement from receivers [...]
Bank dove predicts fall in inflation by mid-2012 March 27, 2011 THE Bank of England’s leading dove Adam Posen has predicted that inflation will tumble to 1.5 per cent by the middle of next year as George Osborne’s austerity drive and the underlying weakness of the economy stifle consumer spending. In an interview with the Guardian, Posen said: “If I have made the wrong call, not [...]
What crisis? Optimism reigns despite turmoil March 27, 2011 Crisis, what crisis ? The FTSE 100 starts trading this week at 5,900 after rising over three per cent last week. It was up six of the past seven trading days. We’re now above the levels before the Japanese earthquake, we still have rising Middle East tensions, an unresolved European debt crisis, and an inflation [...]
Heron Tower rent hunt hots up as McDermott moves in March 27, 2011 US LAW firm McDermott Will & Emery becomes the first tenant to move into the Heron Tower on Bishopsgate today, kicking off a new round of marketing to fill the remaining 37 floors. McDermott is moving into the eighth and ninth floors of the 46-storey skyscraper, taking 25,000 square feet of space for a rumoured [...]
Bonuses are on the rise as top pay stalls March 27, 2011 WARY shareholders are keeping pressure on companies to rein in executive salaries ahead of annual meetings this year, a new survey today found. Executives at FTSE 350 companies are expected to see minimal pay increases with more than a fifth of boards planning a pay freeze on top staff despite firms’ performance bouncing back strongly [...]
Strong dividends entice investors back into equities March 27, 2011 RETAIL investors are buying into the stock market at pre-financial crisis levels, new research from a share registration consultancy today showed. Private shareholders ploughed a net £473m into equities in the quarter ending in February to take their holdings to £233bn, the highest level since November 2007, the Capita Registrars Private Investor Watch report said. [...]
Rajat Gupta steps down from Gates Foundation as Galleon case proceeds March 27, 2011 RAJAT Gupta, the former head of McKinsey, has stepped down from his role as a senior adviser to the Bill & Melinda Gates Foundation while he defends himself against insider trading charges related to Galleon Group head Raj Rajaratnam. Gupta has already resigned from the Indian Business School and other directorships including Procter & Gamble [...]
TESCO CAPS ITS PRICE CHECK OFFER March 27, 2011 TESCO has been forced to cap its offer to refund double the difference on products that can be bought for less at Asda. The supermarket giant has introduced a £20 maximum refund on its Price Check offer after canny shoppers researched Asda deals and made sizeable claims. Tesco claims they profited by finding Asda promotions.
BlackBerry maker buys new app March 27, 2011 BlackBerry maker Research In Motion says it has bought Ontario-based startup tinyHippos Inc, creator of Ripple, a cross-platform mobile application development and testing tool. The company was acquired for its “extensive experience in web and mobile widget/web development,” Tyler Lessard, RIM’s vice president of global alliances and developer relations, said on the developer’s blog. Terms [...]
