EU hedge fund rules not as bad as feared October 19, 2010 HEDGE FUNDSEUROPEAN finance ministers have agreed tough new rules for hedge funds and private equity houses, although the regime will not be as strict as many in the industry feared. The directive, agreed in Luxembourg yesterday afternoon, will force alternative funds to comply with a costly registration regime, as well as subjecting them to restrictions [...]
Hands says he was betrayed over EMI October 19, 2010 GUY Hands, the head of private equity firm Terra Firma, accused senior Citigroup banker David Wormsley of betraying him over the sale of EMI, as he gave evidence in a New York court yesterday. Hands told the court he would never have bid for the record label if he had known all other interested bidders [...]
Yahoo reports jump in profits October 19, 2010 SEARCH giant Yahoo more than doubled its profits in the third quarter on the back of stronger margins and a 17 per cent rise in display advertising. Net earnings jumped 113 per cent to $396m (£252m), or $0.29 per share, while sales increased two per cent to $1.58bn. Profit from operations beat consensus projections, and [...]
Suitors emerge for BAE division October 19, 2010 GENERAL Electric, Honeywell International and United Technologies are among the suitors for BAE Systems’ aerospace unit, it emerged last night. The defence group has hired advisers to sell the aerospace unit for up to $2bn, and is now close to completing a series of management meetings with nearly a dozen strategic buyers and private equity [...]
Spurs won’t sit back at Inter October 19, 2010 INTER MILAN VS TOTTENHAM ITV1, ko 7.45pm TOTTENHAM manager Harry Redknapp insists his plans for one of the biggest games in the club’s recent history have not been derailed by the absence of Rafael van der Vaart. The Holland playmaker has been an instant hit since joining last month but is suspended for Redknapp’s hardest [...]
Ponting still top man for Australia, says Warne October 19, 2010 AUSTRALIA great Shane Warne insists he fully supports captain Ricky Ponting, adding that recent criticism of him had been meant as “an observation, not an attack”. Warne riled Ponting by slamming his field placings during last week’s second Test against India, a match they went on to lose by seven wickets, in a post on [...]
Massa to help Alonso see off Hamilton and Button October 19, 2010 FERRARI’S Felipe Massa has pledged to aid colleague Fernando Alonso’s title challenge in the final three races of the season. Massa’s willingness to effectively perform as the team’s second driver has been in doubt since he was asked to step aside and let Alonso win in July’s German Grand Prix. But the Brazilian is now [...]
Jockey Katsidis found dead October 19, 2010 HORSE RACING: Top Australian jockey Stathi Katsidis has been found dead at his home on Brisbane, aged 31, just two weeks before the Melbourne Cup. The multiple Group One winner had been set to saddle Australian Derby winner Shoot Out in the famed race on 2 November. Police say there are no suspicious circumstances surrounding [...]
Ennis on shortlist for top award October 19, 2010 ATHLETICS: British heptathlete Jessica Ennis has been shortlisted for the IAAF World Athlete of the Year award. The world champion has enjoyed a superb 2010, adding European and World Indoor titles to her collection, along with a new personal best. Her main rivals for the women’s prize are US sprinter Allyson Felix and Croatian high-jumper [...]
China’s first interest rate rise since 2007 drags FTSE down October 19, 2010 China’s first interest rate rise since 2007 hit mining shares and dragged the FTSE 100 lower yesterday, offsetting gains from banks after solid results from Bank of America and Goldman Sachs. At the close, the FTSE 100 index was down 38.63 points, or 0.7 per cent at 5,703.89, having earlier dipped below the 5,700 level [...]
