BHP has no regrets as vows to continue the takeover hunt November 16, 2010 GLOBAL miner BHP Billiton is still interested in big acquisitions and does not regret spending $875m pursuing three major deals that collapsed in the past two years, its chairman said yesterday. “For me, the juice is worth the squeeze on every one of those,” Jac Nasser said after BHP’s annual shareholders meeting in the Australian [...]
London’s Crossbridge Capital sets up Singapore unit seeking $1bn November 16, 2010 CROSSBRIDGE Capital, a London wealth manager set up by former Credit Suisse bankers, has joined the chase for Asia’s tycoons and set up a Singapore unit seeking $1bn of new assets, its chief executive said. Chief executive Tarek Khlat said yesterday that Crossbridge hoped to reach the target, a 50 per cent increase in assets [...]
Clients ditch UBS following new tax rules November 16, 2010 UBS could lose about 10 per cent of its European client assets as a result of deals Switzerland is striking with other countries over untaxed secret bank accounts. The bank, which confirmed ambitious medium-term goals yesterday, said up to SwFr40bn (£26bn) were at risk from changes in tax regulations. Switzerland agreed last month with Germany [...]
Modest rise in number of City roles in October November 16, 2010 THE City’s financial services sector saw a five per cent rise in the number of jobs created last month to 4,977, a survey will say today. The Morgan McKinley London Employment Monitor claims job availability also increased by 13 per cent year-on-year. The number of professionals looking for new roles in the City last month [...]
Cowell reigns but ITV lacks The X Factor November 16, 2010 HIT show The X Factor helped push ITV to revenue growth of 11 per cent, driven by strong advertising sales. A 30-second slot during the final of Simon Cowell’s talent show will set advertisers back an astonishing £200,000. Overall TV advertising revenues for the third quarter rose 16 per cent year-on-year, narrowly beating the market, [...]
ITV November 16, 2010 EVERYONE likes a story with a happy ending, but ITV has merely changed chapter. Now that recovery kings Archie Norman and Adam Crozier are firmly ensconced, it would be easy to read higher advertising revenues as proof the free-to-air broadcaster is on the mend. To be sure, a 16 per cent rise in third quarter [...]
Raft of City firms promise to give London Living Wage to low paid November 16, 2010 A RAFT of big-hitting City firms have agreed to pay their employees the London Living Wage, as part of Boris Johnson’s drive to push up wages for the low paid. Investment banking giants UBS, Bank of America Merrill Lynch?and JP Morgan yesterday added their names to the growing list of firms promising to pay all [...]
King writes to Osborne as inflation rises November 16, 2010 THE governor of the Bank of England (BoE) was forced to write a fourth letter to the chancellor of the exchequer yesterday as official figures showed consumer inflation rose unexpectedly to 3.2 per cent in October. Mervyn King wrote to George Osborne saying the 0.1 per cent rise in the UK Consumer Prices Index (CPI) [...]
US wholesale prices fall as output falters November 16, 2010 CORE US producer prices recorded their largest fall in more than four years in October and industrial output was flat, underscoring concerns at the Federal Reserve about low inflation amid moderate economic growth. Economists said the data supported the US central bank’s 3 November decision to ease monetary policy further even if the 0.6 per [...]
Official figures confirm fall in house prices in September November 16, 2010 THE fall in house prices in September was confirmed by the Department for ommunities and Local Government (DCLG) yesterday. It published figures which showed house prices fell 0.8 per cent in September. Prices also fell 0.7 per cent in the third quarter compared to a 1.6 per cent rise during the preceding three months. The [...]
