Dubai outlines plan to stave off second crisis May 23, 2010 DUBAI plans to set up a programme to address weaknesses in its financial system while the United Arab Emirates will open a debt management office to coordinate on issuance for state-linked companies, an official said yesterday. Sheikh Ahmed bin Saeed al-Maktoum, chairman of Dubai’s Supreme Fiscal Committee, also said that Dubai’s debt restructuring proposal for [...]
BEST OF THE BROKERS May 23, 2010 NATIONAL GRID Goldman Sachs reiterates a “sell” rating on National Grid after the group’s £3.3bn rights issue. Goldman Sachs said that a $900m goodwill write off in the US rate base has led to a reduction in its price target. Goldman’s cum-rights price target is 544p. ENEL UBS upgrades Enel to “buy” for three reasons: [...]
Intel and Google team up May 23, 2010 Intel hopes to cash in on the rapidly growing internet television market when Google TV is launched. Google is planning a new service that will broadcast content from the internet to users’ TV sets. It will collaborate with Logitech and Sony, as well as Intel, on the new technology, which will be incorporated into some [...]
Google gets US anti-trust OK May 23, 2010 Google Inc has won US approval to buy mobile advertising rival AdMob, after months of delay and rumour that the No. 1 Internet search engine was headed for a court fight with government officials over the $750m (£518m) transaction. The Federal Trade Commission’s decision followed unusually public comments by app developers that the agency’s staff [...]
Voters target small issues May 23, 2010 PEOPLE are more worried about potholes in the road than violent crime, according to a new survey by O2 and Populus. While the election was fought on macro issues – including David Cameron’s “big society” campaign – voters are far more concerned with minor annoyances like uneven roads and slow internet connections. Out of the 2,040 [...]
UK needs flexible immigration to lure talent May 23, 2010 AS THE political dust kicked up by the election settles and the financial reform agenda takes shape, it is clear that the City lies at a crossroads. Although we wish to ensure the UK remains home to a world-leading financial services sector, and an excellent place to work and live for future generations, there is [...]
Stores across the US sell out of iPads as sales continue to surge May 23, 2010 THE roaring success of Apple’s iPad is showing no signs of halting, with 74 per cent of US stores sold out of the gadget. Piper Jaffray analyst Gene Munster found that no stores had the high-end 3G iPad in stock in a survey of 50 branches. He suggests Apple will sell 1.3m iPads this quarter, [...]
BADGERS SET PACE AT CITY RUGBY SEVENS May 23, 2010 AN invitation side comprising fund managers, traders and brokers yesterday won the annual City Sevens rugby tournament in Richmond, sponsored by Neptune Investment Management. The City Badgers beat Apollo Multi-Asset Management in a hard fought final, making it the first time in four years that accounting firm PricewaterhouseCoopers failed to take the top honours. A [...]
BILL OF THE WEEK May 23, 2010 SIX gents have splashed out more than £1,400 in High Holborn’s glamorous Pearl Restaurant. Clearly attending London’s International Wine Fair proved insufficient to quench the group’s thirst. They quaffed a bottle of classic 2000 Dom Perignon from Pearl’s fantastic selection, along with two excellent bottles of wine – a 2005 Chevalier Montrachet Domaine, Jean-Marc Pillot [...]
Looming hike in capital gains tax is fuelling investor panic May 23, 2010 HIGH-EARNING investors are rushing to sell off assets that will attract Capital Gains Tax (CGT) before next month’s emergency Budget due to indications that CGT rates could shoot up from 18 per cent to as much as 50 per cent. Gains on non-business assets now look set to be taxed in line – or close [...]
