Nakheel mulls more Islamic bond issuance October 3, 2010 NAKHEEL is in preliminary talks to list an Islamic bond, part of its restructuring plan, on Nasdaq Dubai and a “good percentage” of banks have agreed to the developer’s repayment plan, its chairman said yesterday. Ali Rashid Lootah said he was “very confident” the builder of islands in the shape of palms will complete the [...]
Immigration cap is City’s biggest complaint October 3, 2010 MARIA from the Home Office called me about a recent key-worker visa application at 9.00am and suggested, in no uncertain terms, that she drop by for an immigration audit at lunchtime. We settled on teatime the next day. Britain’s clampdown on skilled migrant workers is in a rush. My encounter with Home Office enforcers last [...]
Dividend growth could hit 22 per cent October 3, 2010 THE UK is likely to experience double-digit dividend growth in 2011 according to a top fund manager. Tineke Frikkee, manager of the Newton Higher Income Fund says she is optimistic about the outlook for growth next year after three consecutive years of declining dividend income. She says the UK is likely to see between eight and 22 [...]
Two US media firms vying for stake in BBC Worldwide’s UKTV October 3, 2010 TWO US media companies are vying to become BBC Worldwide’s new partner in UKTV, the broadcaster behind digital channels Dave, Watch and Gold, according to the Sunday Times. Discovery Communications and Scripps Networks are trying to team up with BBC Worldwide, which owns 50 per cent of UKTV, to buy the remaining stake from cable [...]
Terror threat raised by US and UK October 3, 2010 The US and Britain both warned yesterday of an increased risk of terrorist attacks in Europe, with Washington saying al Qaeda might target transport infrastructure. The US State Department issued a warning directed at American citizens travelling in Europe, without singling out any specific countries. The UK raised the terrorism threat level in its advice [...]
Sovereign funds insource more October 3, 2010 Sovereign funds are developing in-house portfolio management techniques after the global crisis, a worrying trend for asset management companies, an executive at research firm Cerulli Associates said. Global asset managers, who have historically pocketed attractive fees by managing a significant share of the sovereign funds, need to be aware of this development while approaching them [...]
Bumper pay for new HP boss October 3, 2010 New HP boss Leo Apotheker could earn as much as $50m (£32m) in his first year at the firm. Apotheker, who joined the computer manufacturer from SAP last week, will receive a basic pay package of $1.2m, a bonus of up to $6m and a lucrative share package. However, the market reacted badly to the [...]
HEDGIE IAN WACE TAKES CHAIRMAN JOB AT ARK October 3, 2010 THE GLAMOROUS world of hedge fund philanthropy had a shuffle at the top over the weekend, as Ian Wace – co-founder of Marshall Wace – took over from hedgie “godfather” Stanley Fink as chairman of Arki Busson’s charity, Absolute Return for Kids (ARK). Wace will now be tasked with the dual responsibilities of overseeing ARK’s [...]
BILL OF THE WEEK October 3, 2010 OFF to Primrose Hill this week for lunch at Odette’s, setting our diners back £1,344. They began with gin martinis, cocktails and Dom Perignon champagne, before moving onto the food – scallops, pigeon and terrine to start, followed by salt lamb, turbot, halibut and braised pork, then decadent cheeses, chocolate fondant, cheesecake and lemon curd [...]
Traders braced for busy week with new data out October 3, 2010 THIS morning GFT expects a positive start for the major European indices. Our call is for the FTSE 100 index to open 10 points higher at 5,602, with similar gains for the German DAX 40, up 15 points to 6,226 and the French CAC 40, up 14 points to 3,706. Looking ahead to the rest [...]
