ARM surges on Microsoft deal December 22, 2010 SHARES?in microchip manufacturer ARM Holdings jumped yesterday on reports that Microsoft is working on a new version of Windows for tablet computers that would use the UK firm’s processors. The electronics giant is expected to use the Consumer Electronics Show in Las Vegas in January to unveil the software. ARM’s shares surged 36.75p to a [...]
Rio Tinto gets ready to offer £2.5bn to take over Australia’s Riversdale Mining December 22, 2010 MINING group Rio Tinto could announce its A$3.8bn (£2.5bn) offer for Riversdale Mining today, before time runs out on Riversdale’s trading suspension on the Australian stock exchange. Talks between the two companies were ongoing yesterday, with Rio understood to be offering around A$16 a share for Mozambique-focused Riversdale. Riversdale could instead announce a longer suspension [...]
Ex-HP boss Hurd in bid to keep Fisher letter private December 22, 2010 FORMER Hewlett Packard (HP) chief executive Mark Hurd is fighting to keep private the letter that led to his resignation from the technology giant and has triggered an investigation by the Securities and Exchange Commission into his departure. The eight-page letter, in which former HP contractor Jodie Fisher is believed to have accused Hurd of [...]
DP World cuts debt with $1.5bn Australian port sale December 22, 2010 DUBAI’S DP World yesterday moved to cut its debt and focus on emerging markets by selling 75 per cent of its Australian port operations for $1.5bn (£970m) to private equity firm Citi Infrastructure Investors (CII). DP World – considered one of the more profitable units of debt-laden Dubai World – said yesterday that it will [...]
Carlyle is in talks to buy AlpInvest December 22, 2010 CARLYLE Group is in talks to buy AlpInvest Partners, one of the world’s largest private equity investors with more than €40bn (£34.1bn) under management. Buying AlpInvest, which manages the private equity investments for Dutch asset managers APG and PGGM Investments, would help Carlyle diversify its businesses as it prepares to follow rivals Blackstone Group and [...]
Analyst views: What do the New Zealand losses mean for Catlin? December 22, 2010 BEN COHEN | COLLINS STEWART It looks manageable from the annual estimates, so the figures shouldn’t change. It seems like Catlin is heading off questions about the quake before they arrive. NICK JOHNSON | NUMIS SECURITIES The loss is relatively small scale at 7p per share after tax. Catlin is so far one of the [...]
Nike in price rise warning as costs jump December 22, 2010 NIKE shares fell almost six per cent yesterday after it posted future orders results that missed analysts’ expectations and said it may have to raise its prices. The world’s largest sportswear firm said a jump in cotton costs could trigger a rise in the price of its goods. Orders for Nike shoes and clothing for [...]
CITY MOVES | WHO’S SWITCHING JOBS December 22, 2010 KKR Kaveh Samie is joining KKR as managing director and head of Middle East and North Africa to support the firm’s growth strategy in the region. Previously, Samie was a managing director and head of equities for HSBC Middle East & North Africa. The appointment takes effect from 6 January 2011. Samie will work closely [...]
BEST OF THE BROKERS December 22, 2010 FIRST GROUP Morgan Stanley rates the transport group “equalweight” with a target price of 420p. The broker has raised its target price from 385p following a review of the transport sector, in which it has also boosted target prices for rivals Go-Ahead, National Express and Stagecoach. It predicts a modest outlook for the industry in [...]
Surviving trial by canape December 22, 2010 THINK of a job interview and you probably imagine something like the more frightening parts of The Apprentice, where you are confronted with a panel of beady-eyed people who fire questions at you. But for many City jobs an integral part of the process is meeting in a social situation, either a meal or a [...]
